There are a host of things that can cause a real estate deal to go south. Many of them are simply a result of buyer idiosyncrasies and hyper-pickiness, but there’s not much you can do about those. There are, however, many sale-compromising things that are within your control. Being aware of such problems and taking care of them before a buyer sees them are key. So let’s take a look at 5 major problems that can compromise the sale of your home in .
1. Structural Problems
It almost goes without saying that major structural problems can compromise the sale of your home in . Not only do they often pose a danger to you, but they will definitely make buyers run the other way. The difficulty, though, is that such problems are sometimes hidden and/or difficult to detect.
Buyers won’t be very interested in buying a home with a cracked and/or sinking foundation, faulty framing, sketchy support beams, or a sagging roof. And all of these problems are enormously expensive to fix – which means the home will not be a smart investment for buyers. Until you address such issues, you may be facing, at worst, no sale at all and, at best, reducing the sale price significantly.
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2. Water Damage
Today, buyers are especially sensitive about visible water damage (in large part because of the potential mold problem it often presents). In short, water damage can quickly kill the sale of your .
“The most common deal-killer in real estate,” according to industry pros, “is water damage. Water penetration is one of the top issues that could hinder your home sale because even the smallest amount of water can lead to major problems. Water penetration can lead to mold infestation and cause the home to rot, two big concerns if you want your home to sell. If your home has ever flooded before or during your rehab project, or if you know of any existing leaks, take care of it.”
The good news, though, is that such problems aren’t all that difficult to fix (and less expensive than others). The key is the take care of the cause of the damage and eradicate the evidence before listing.
3. Evidence of Pests
And, obviously, not many people want to buy a home with evidence of termites or rodents. This kind of problem usually starts out small, but left unattended it can grow to proportions that can compromise the sale of your home in .
While this may seem like a minor issue, “minor issues can,” industry pros assert, “easily grow into major problems. When you’re selling a home, it’s a good idea to deal with pest infestations head on because it can end up saving you hundreds of thousands of dollars in the long run. Termites can destroy weight-bearing walls or other wooden supports in the home which can affect the entire foundation and structure of the home.”
4. Mold Issues
We have finally become aware of the major health hazards posed by mold and mildew. So any signs of mold can certainly compromise the sale of your home. “Buyers are understandably wary of buying a home with mold because it likely points to water penetration and can be very toxic to one’s health.”
If you do see any signs of mold, it’s best to take care of the problem right away – the longer you wait, the worse and more expensive it will get. Typically, homeowners will need to use a company that specializes in mold remediation. It can be a protracted and costly process, but it’s worth the expense if it helps you sell your home.
5. Faulty Septic System
If you have a septic system and that system has faults, that too can cause the sale of your home in to quickly go south. If a buyer sees that you have a faulty septic system, the buyer (if she is still interested at all) will usually ask you to perform the needed remediation or reduce the sale price. The best course is to fix the problem before a buyer ever sees it. Again, your agent can advise you on the best course here.
These, then, are the 5 major problems that can compromise the sale of your home in . But there are many more, some of them just as sale compromising. Your local agent can help you ensure your home is without any of these problems and/or advise you if they do rear their heads. Our agents are ready to help you make that sale.