What Do I Do If My House Didn’t Sell???
What do I do if My House Didn’t Sell?
If your home didn’t sell it may be the market or the price, location or condition.
Waiting patiently or pulling the home off the market are options when faced with a lack of offers. The Alternative is to take steps to make your home more marketable. Choosing to wait or to act will depend on how desperate you are to move.
Change The Price:
You may not be the best judge of what you’re home is worth! If you’re getting showings but no offers or consistently low offers, try dropping the price between 3-5%..if that doesn’t work, try 10%. If you’re desperate to sell and nothing else works, figure your lowest price you can possibly accept.
If your home doesn’t look good, it discourages buyers even if the structure underneath is in great shape. Keep the yard looking attractive, keep the entry free of clutter or cobwebs, consider fresh paint. If the market is depressed or your home is collapsing it may not help, but it will make it easier for buyers to appreciate the merits of your home.
Leaky plumbing, loose steps or broken tiles don’t attract buyers and lowering the price to compensate may not be as effective as fixing the problems. If you aren’t getting any showings, your home may be too old to complete in the market and it may be time to replace the carpet or do an update to get back in the game.
Rent It Out:
If you have to move but can’t get an offer, renting may be an option. The downside is that you have to hanle issues such as repairs or pay a property manager to do it. You also face the potential issue of having to deal with eviction if your tenant is not paying on time or breaks the lease.