Selling a Home or Cabin in today’s real estate environment can be very challenging. Below are some really good tips to consider if you are thinking about selling your Home in Blairsville or your Cabin in Blue Ridge.
Tip 1: Identify an experienced agent who is familiar with the community your North Georgia Mountain Home or Cabin is located within. Look for an agent who may have “For Sale” signs placed in your development. Ask this agent to prepare a market analysis (how much is it worth?) and a marketing plan (how do you plan to market my home?). Ask lots of questions about both. Should you decide this agent is right for the job, have them include the main points of their marketing plan in your listing agreement so that all parties will know what is to be expected (i.e. frequency of ads and the publications/websites where they’ll appear, etc.). Limit the length of the listing—three months or less is good, but no more than three months. If the agent is doing his/her job as set out in the listing agreement you can always renew the listing when it expires. If they’re not producing results you’ll be able to document the reasons if you decide to cancel the listing early or be able to show them why you aren’t renewing the listing with them.
Tip 2: Price your property realistically, especially in slow markets. When markets are slow, buyers are psychologically unprepared to overpay—and they apply stringent standards of value. They will heavily discount many expensive and unusual improvements unless they appeal very strongly to their own personal tastes.
Tip 3: Consider providing owner financing if you can, but be cautious. If you can provide some financing, even if it’s a small second trust, you may be offering ‘the’ deal maker. At the same time you can often earn a considerably higher interest rate than you would have earned with the same money otherwise. Caution: Fluctuating real estate markets can wipe out your security in the event of foreclosure. Foreclosures cost money and a second trust only gets paid after the first mortgage is satisfied, and then only if there’s money remaining from the sale. Make sure to run a credit check on the buyer and make sure that they put up a substantial down payment if you’re providing owner financing.
Tip 4: Make sure you don’t prematurely give away any bargaining leverage. All home purchase agreements must be in writing to be binding. If someone asks if you would take a specific lower figure and you agree, that’s not an enforceable contract. All you have done is to lower your asking price. The correct response should be “I’ll consider all written offers.”
If you are considering placing your Home or Cabin on the market, please consider The Mountain Life Team to be your real estate team of choice. Ask us to share with you our Progressive Marketing Strategies, we would be grateful for the opportunity.