Selling Before A Deadline
Selling quickly to meet a deadline is a common concern for home sellers. A recent National Association of Realtors survey found that 55% of home sellers were in a hurry when they put their home for sale. Some of the most important items to keep in mind when selling with a deadline are:
Preparing your home for the sale
In most neighborhoods, if you must close on your home sale within 8 to 10 weeks, then you should put your home on the market quickly and not delay for home preparation. Remember, most closings occur 4 to 6 weeks after you have found a buyer and agreed on price. Consider hiring a cleaning service to thoroughly clean your house if you don't have time. Follow the advice contained in Preparing Your Home, but remember that any delay in preparing your home may be costly.
Pricing your home for sale
Pricing appropriately is even more important for sellers with a deadline. Consider hiring an appraiser that can quickly suggest a value for your property. Calculate the financial and dollar cost of missing your deadline. If you are relocating to another city, don't forget to calculate:
- the cost, time, or financial risk of buying another home without your current home sold;
- the cost and time required to get temporary housing if you need your current home to sell before you buy another home in your new city;
- the cost and time required to maintain and secure your home when you are out of town,
- the cost and time required to visit your family members who stay with the home until it sells,
- the cost and time of keeping pets in a kennel,
- the reduced purchase price you will receive because your home is vacant when it is shown,
- travel expenses returning to your town to move your personal belongings or attend closing, and
- any other costs or time your missed deadline may require.
See our recommendations for Pricing your Home for further advice.
