When The Buyer Backs Out: Real Estate Sales SolutionsWhen The Buyer Backs Out: Real Estate Sales Solutions

About Me

When The Buyer Backs Out: Real Estate Sales Solutions

The first time I sold a house, I had no idea that the buyer could back out of the contract partway through. I was taken aback when it happened to me, and my real estate agent had to explain the process of terminating the contract and requesting the earnest deposit. After the contract was terminated, I spent a lot of time researching why a buyer could back out of a sale, what I could do about it as the seller, and ways to minimize the risk of it happening. I created this site to share what I've learned in the hopes of preventing other homeowners from experiencing what I did. I hope it helps you to be better prepared as you sell your home.



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4 Costs You Should Be Prepared For When You're Selling A Home

Are you about to sell your home? Before you do, you might want to consider some of the costs involved. Selling a home isn't necessarily expensive, but there are some things that you're going to have to pay for upfront.

1. Staging and Temporary Furniture

If you want to save money, you can often get secondhand items for your staging. Simply go down to your local thrift shop; most people won't be looking at the items themselves. But staging itself is both an art and a science. A good home staging company can make a small room look immense and a large room look cozy. The goal of home staging is to let those viewing the property see its potential -- something that bare rooms simply can't do.

2. Exterior Landscaping

Often buyers will form their very first impressions regarding a property when they pull up. Basic landscaping should always be done at the front of the home. This could mean simply mowing your lawn -- but it could also mean reseeding and building a new lawn. It's not always necessary for a home to look impressive; it's more important for the home to look clean. This is why many real estate agents suggest a new coat of paint. 

3. Duplicate Living Costs

When you're selling your home, you usually have a date when you're going to be moving. But what happens if a deal falls through... or if you don't find a buyer? Keep in mind that you're going to need to keep paying the mortgage on your home even if you've already moved into another home or if you''re already renting somewhere else. Make sure that you set aside some duplicate living costs (including duplicated utility bills -- the property will still need power and water) for at least a few months. 

4. MLS Listing Fees

If you're going to list your property in the multiple listing service -- a directory of real estate currently for sale -- you will usually need to pay a listing fee. Some real estate agents will cover this out of their own pocket, but not all of them. It's usually only a few hundred dollars, but it's important because it gives you a wider selection of buyers. In addition to the fee, you may also want to pay for a professional photographer to take the MLS listing photographs.

Your realty company can tell you more about what you need to do. Sometimes there will be repairs or even renovations that can vastly improve the outcome of your home's sale. Other times you simply won't have the money to invest and will want to sell the property quickly. Either way, it's likely that you will need to spend a little to complete your sale.

To learn more about hiring a realty company, contact a company like Plaza Realty