Knowing the reasons why some Charlotte short sales don’t sell will help you as a seller to avoid these common mistakes so your short sale home won’t be sitting out on the market for too long.
Here are the 7 most common mistakes you should avoid in selling your Charlotte short sale home:
1. Setting the Wrong Price
Some short sales are prices too high, some are too low, but Charlotte short sales that sell quickly are those that are priced just right. Since short sales are different from traditional real estate sales, remember that your price must be attractive not just to the buyer but to the other parties involved as well such as the short sale bank, the buyer’s agent, and the buyer’s lender. It may seem impossible to please all these parties, but it has certainly been done many times. There is an art to pricing short sales. You have to work with a seasoned Charlotte short sale agent in order to do this.
2. Working with an Inexperienced Charlotte Short Sale Agent
Before working with a Charlotte short sale agent, make sure you ask the agent how many short sales he or she has closed in the past, apart from those he or she has listed. If most of the Charlotte short sale agent’s listings have been on the market for more than 90 days without receiving offers, then something is wrong with the agent. Most successful short sale agents have at least 2 years of experience in negotiating with short sale banks. Ask the 4 questions you should ask your Charlotte short sale agent, which you can read about more in one of my articles.
3. Poor Marketing
Some short sale agents falsely believe that price alone will attract buyers, and they persuade the seller to price the Charlotte short sale at a ridiculously low amount, then when this is done, they refuse to market the home adequately. This is a wrong practice and if your agent asks you to do this, better look for another agent.
Short sales should be treated the same way as traditional sales and should be marketed properly. Your Charlotte short sale agent must be expose your short sale home to the widest pool of buyers possible, which involves posting it on major websites, MLS, direct mail marketing, and networking.
4. Too Many Showing Restrictions
Some buyer’s agents skip homes that require appointments prior to showing. If a buyer’s agent calls to ask for a showing, your response should be “We’re ready! Come on over!” Charlotte short sale listings that have too many showing restrictions such as “No showings on Sunday,” etc. may never get offers at all.
5. Insufficient or No Photos
Submitting a Charlotte short sale listing to the MLS with only one photo, or worse, no photo at all, is like pushing buyers away from your home. A short sale listing with inadequate or missing photos sends a message that the seller doesn’t really care if the Charlotte short sale home sells or not. Some websites drop listings without photos to the bottom.
6. Home in Poor Condition
Charlotte short sales will sell quickly if the home is staged. Sellers of short sales must keep the property in good condition. Buyers may not see past all the clutter and mess during showing and it may also be a signal to them that once they buy the home, the sellers may trash the home upon leaving it.
7. Uncooperative Sellers
Charlotte short sellers must submit all required documents to the short sale bank on time. If the package is incomplete, the bank will not process the short sale and will delay the entire transaction. If the seller refuses to submit required financial information or does not submit a hardship letter, then the short sale will not be processed.
Avoid these common mistakes that sellers make so your Charlotte short sale will sell in the soonest possible time.
Need help? Call me and let’s to make sure that you won’t commit these mistakes. Nancy Braun, 704-325-4955 or send an email at email@example.com