There are five deal-breakers sellers must prepare for and avoid if they want to sell their home quickly and for top dollar:
1. Structural problems. Here in Oklahoma, our houses move over time. Depending on how old your home is, you might be able to notice a few settlement cracks here and there. Sometimes these are the normal effects of settling, while other times they can be more serious and may require the installation of a few piers. A single pier costs around $500, so if you see some cracks around your house that look a little more extreme than normal settling, you’ll want to get that checked out.
2. The roof. Is your roof insurable and do you have proper coverage on it? If the buyer’s insurance company isn’t able to insure your roof, many times the only other solution is to replace it.
3. The HVAC system. It’s a good idea to schedule regular maintenance checks for your HVAC system with a local heating and air company. When the appointment is finished, make sure to ask for a receipt or to have a sticker placed on your system. This way, you can prove to buyers that the system has been checked.
4. Termites. Termites aren’t prejudiced—they love all types of wood and all types of houses. If there’s termite activity in your house, treatment costs anywhere from $1,000 to $2,000. If your home had termite problems in the past, it may have been damaged, so get a visual inspection to see if that’s the case. If past termite damage is apparent and it isn’t fixed, termite inspectors will have to declare that your home needs termite treatment. Wood rot is another item that gets checked during a termite inspection, and if your home has this problem too, you need to get it cleaned up.
5. Low appraisals. This is a prevalent deal-breaker we’re seeing in our market right now. Appraisals are based on the current market, and appraisers have to look back in time at recent sales to make sure your home is priced correctly. There are always ups and downs in the market, though, so even though your appraisal might not be up to date with current trends, you have to go with what the appraiser says. A low appraisal hurts both sellers and buyers because when a buyer’s obtaining a mortgage, they can’t pay more than the price the appraiser sets.
We love helping sellers plan their move in advance, so if you’re thinking of selling your home any time soon, give us a call so we can help you get it ready for the market and have buyers wanting to pay full price for it.
If you have any other real estate questions or you’re thinking of buying a home in our Tulsa market, don’t hesitate to reach out to us as well. We’d love to help you.
