Many sellers are plagued by fears about not knowing the real estate market well enough. They worry that they’ll end up with less than they bargained for. There are two commonly-believed myths that tend to make the process even harder, and we are going to debunk these for you. If you’re offering a UBC home for sale, knowing the truth about these myths can save you a lot of aggravation.
Real estate sales myths you should be wary of and learn more about
Myth #1: The Best Time to Sell Your Home is in Spring
Because of the high purchasing activity during the summer months and at end of the school year, many realized that the best time to sell a home is in spring. This led people to believe that apart from spring, it is not wise to sell property at any other time of the year, so they choose to wait for springtime.
Thankfully, there is no truth to this myth. The best time, really, is during the holiday season and right after it is over. With the high number of unmarried buyers, it makes no sense for them to decide about buying a property with school schedules in mind. Instead, they look for a home during the months of November, December, and January.
As a seller, you can use this to your advantage by making your home available during these months. While you may get plenty of house visits during November, it might not be until January that they finally decide to buy your home. So really, this makes it a supply-and-demand issue and allows you to ensure property is availablitiy during the time they're house-hunting.
Myth #2: Cash is the Best Mode of Payment
Getting paid in cash may be the best offer you can get from your potential buyers. Since it involves little to no risk, there are plenty who prefer to be paid in cash. However, you have to be careful with accepting a cash offer as buyers will want to give you an offer lower than your asking price. Especially if the buyer will bring the money with him during his visit, you might be tempted to accept his haggle because the money is right there in front of you.
Think of it this way: when you’re selling your home, you already placed a price on it depending on its market value. Instead of saying yes to a cash buyer, you can decline the offer; especially if it is below your agreeable rate. You may not get a lot of cash offers for your property but that does not mean it won’t sell. This just might be a way for you to consider looking at home financing options as an alternative mode of payment.
If you are selling your property, give us a call to get expert advice and guidance from a real estate agent with the experience and tools to help you sell your UBC home quickly and at your asking price.