June 27th, 2020
One of the great things about serving my clients these last 37 years is that I’ve seen a lot. And that means with that experience, I’ve been able to see the “potholes in the road” before my sellers of Palos Verdes homes and Beach Cities real estate see them. That includes what I’m writing about today…what happens when you ignore this home selling tip.
Putting together deals that stay put together in large part involves creating an environment in which both Buyer and Seller feel enough comfort and peace of mind to continue to march forward to close of escrow. Lots of things can get in the way of that “comfort”
- Not meeting loan contingency deadlines
- Not meeting property appraisal deadlines
- Not managing expectations of either party on home inspection issues.
It is this last topic that is the leading cause of stress when selling Palos Verdes homes and Beach Cities properties today.
This home selling tip, if ignored by sellers, is guaranteed to cause more stress than what was necessary and I just scratch my head in wonder as to the number of Palos Verdes homeowners, when I explain this, refuse to help themselves.
Most home sellers think that the initial stage of negotiation when a buyer makes an offer on their home, is the only negotiation. There’s the back and forth and hopefully there’s success and the home goes into escrow. So many home sellers believe it’s time to celebrate, they’ve sold their home and it’s just a nice little wait for 30 or 45 days or so.
If you’re reading this post and you’ve sold a home before, have you ever thought this way? Maybe just a little bit? If you have you’re far from correct. The best that can be said, using a baseball analogy, is that you just barely made it to first best … home plate is but a distant goal.
Typically, once you open escrow with your buyer, your buyer now has 17 days to conduct their investigations of your property including but not limited to review of any reports and disclosures you are mandated by California law to disclose to the buyer. You’ve been thinking all along that your home is just fine, you’ve lived there for a few years and everything works and what possibly could come up in a home inspection that could blow up the deal?
Well, lots quite frankly. And let me change lanes here a minute. Let me ask you a question. Pretend you’re a buyer of, well anything, and the seller of that thing you’re buying appears to be evasive or hiding something. In fact let’s just pretend that you’re just careful, and even though the seller seems nice, you’re just skeptical. Is that an environment in which you’re likely to pay more or pay less for that thing you’re buying? That’s one of those “duh” questions. Of course you will be more likely to pay less.
That’s why this home selling tip is critical, easy to do and won’t cost you very much. In fact here’s a tangent to this home selling tip; if you’re thinking of improving your home for reasons of enhancing resale outcome, do not, let me repeat, do NOT spend one dime until you do this one simple home selling tip.
The most important home selling tip:
GET YOUR OWN PROFESSIONAL HOME INSPECTION BEFORE YOU LIST YOUR HOME
Think about the benefits you get as a Palos Verdes homeowner or for that matter a homeowner of property located anywhere in the South Bay area when you have your own professional home inspection
- You won’t be surprised by what a buyer’s inspector uncovers
- You won’t have to rely just on the buyer’s inspection of a discovered defect (like buyers never exaggerate a defect for negotiation reasons right? Yeah right)
- You’ve created an environment of peace of mind and trust and changed the buyer’s perception of you as a home seller that is open and honest with information. Guess what – that IMPROVES your chances of leading your buyer to your price.
These inspections will typically range in the $300 – $750 area depending on size of home and i promise you, this will be the best “home improvement” investment you can make for resale purposes. I’ve had so many clients that were about to spend thousands improving feature x, y or z on their home all of the sudden realize how stupid that would have been relative to what the pre sale inspection uncovered that was MUCH MORE important to correct so that they could get a better price for their home.
So, want more stress? Easy, ignore this home selling tip. And if you’d rather have an experience like Richard did* then really understand the value of this home selling tip
*After doing some research, I choose George to sell our family home in Palos Verdes that we had lived in since 1964. The best possible choice I could have made. I thought we knew Palos Verdes after 50 years of residency. He knew the community, the city, the neighborhood and even our street from his own vast experience on the hill. He is extremely tech savvy. His marketing plan was perfect. He was amazingly responsive. He consistently went the extra mile and the results were fabulous.
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