4 Tips for Selling Your Home During a Recession
Thursday, March 26, 2020, 6:00 PM | Leave Comment
Selling your home during a recession might seem like a daunting process, but it is important to remember that homes can be sold in almost any market.
With a little bit of patience and some hard work, you will be able to greatly increase your chance of selling your home quickly and at a fair price.
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Contact a Realtor
One of the best things that you can do when selling a home in a recession is to hire a real estate agent. An experienced realtor can help you come up with a comprehensive plan for boosting the value of your home or getting you in touch with motivated buyers who are ready to make fair offers. Some of them might even have a private list of cash buyers who could help you complete this process before you know it.
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Price Competitively the First Time Around
It is an unfortunate fact that a recession is probably going to have a huge impact on the value of your property, and you will need to adjust the price accordingly. Unless you have the option of waiting out the recession, you might need to lower the asking price to get some offers. When a home sits on the market for a long period of time, many buyers are going to think that something is wrong with the property and dismiss it altogether.
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Fix Major Mechanical and Structural Problems
Well before you try to sell your home, you need to spend a little bit of time carefully inspecting all of the major structural components as well as the mechanical systems. That includes the foundation, walls, roof, HVAC system, plumbing, and electrical system. In order to sell your property at a fair price, you will need to deal with any damage to those areas of your home as soon as possible.
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Boost the Curb Appeal
Another step that you can take to make your home more appealing to potential buyers is to boost its curb appeal. You basically want the buyer’s first impression to be as positive as possible, and that will be very difficult if the yard is in disarray or there is cosmetic damage to the outside of the home. At the very least, you need to clean up the yard and put on a fresh layer of paint if the exterior paint is cracked or peeling.
These few tips are a great start, but you must make sure that you are efficiently marketing your home as well. Using multiple advertising platforms as well as an experienced realtor will increase the visibility of your listing so that you can get more offers.
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