When it’s time to sell your home in Markham, you’ll want to make a deal that buyers can’t resist. However, despite your best efforts, buyers may still walk away from your deal.
What causes a buyer to walk away from your deal, and what can you do to prevent this from happening? Here are some valuable tips to keep in mind when you’re ready to sell your home in Markham.
Don’t Overvalue Your Home
When you’re trying to create a listing price for your home, it’s best to speak with your real estate agent to figure out the best listing price for your house. Experienced real estate agents will know how to value your home in a way that will attract more buyers while getting you the best deal possible.
You, on the other hand, may be more inclined to overvalue your home. That’s not surprising; after living in your home for years, you’re more than likely to be emotionally attached to your home.
Buyers, however, will not be judging your property based on sentimental value; they’ll be more worried about whether or not your home will meet their future needs. A real estate agent will price your home objectively and be less likely to overvalue your home. Having their help when choosing your listing price will increase your chances of easily selling your home in Markham and preventing buyers from walking away from your deal.
Don’t Fail to Disclose Defects
All homes, especially older homes, will come with issues and defects. Defects can present themselves in two ways: patent defects and latent defects. Patent defects are issues that are obvious as soon as the buyer walks into your home. A broken window, for example, is an obvious defect. With this awareness, buyers have the choice to accept these defects on closing or add a clause in their agreement that requires the defect to be fixed before the sale is final.
On the other hand, latent defects are rather concealed and not immediately obvious in a property viewing. Latent issues can involve problems with the foundation or a serious leak that was never repaired. If the seller knows about a latent defect that may endanger the buyer and make the home uninhabitable, they are legally required to bring it to the buyer’s attention.
While it may be tempting to hide your home’s defects, it’s best to be honest about them when asked. If it’s discovered that you willfully hid latent defects from your buyer, you may put your sale in jeopardy. If you’re not sure of exactly what to disclose, ask your real estate agent; this is the best way to protect yourself from any potential legal repercussions.
Work With the Right Real Estate Agent
There’s no doubt that a home sale goes smoother when you work with an expert local real estate agent. When you’re ready to sell your home in Markham, work with Martin MacFarlane. He knows what buyers are looking for in a home and can help you attract buyers that won’t walk away from your deal. Contact Martin today.