Common Mistakes That Prevent Homes for Sale in Portsmouth VA from Closing
After receiving an offer on your homes for sale in Portsmouth VA, you have to ensure that the sale makes it to closing. Getting an offer is the first step to selling. However, just because you have received a good offer on your homes for sale in Portsmouth VA, it does not mean that the sale will close. There are many factors can force the buyer to walk out. In the days or weeks ahead, you have to tread carefully to ensure that your deal closes.
Here are the mistakes that sellers often make.
You ignore contingencies
If the contract stipulates that you should do something before completing the sale, do it without any hesitation. If the sale is contingent on a repair or an upgrade, don’t resort to cheap patchworks. Don’t expect that the buyer will not notice your quick fixes. They will and they might just walk out.
You break things in a bid to fix them
On their pre-closing walkthrough, the buyer wants to see that the condition of the home has not worsened since they made the offer. If there are things that need to be fixed, hire a pro to fix them. If you lack the expertise, don’t attempt to do it yourself. You also need to inform the buyer that you have made the repairs. If you don’t maintain the house properly, the buyer will lose faith in your integrity.
You are lax about deadlines
Deadlines are sacrosanct so treat them so. If you only have two days to reject or accept a request for home inspection, you should make the decision within that time frame. If you are selling your home, try to move out a couple of days early. This will allow you to hand over the house keys at closing.
You are unwilling to negotiate any further
You have negotiated a price, and you want to walk away with that much from the closing table. This is not always possible. Sometimes problems may have popped up during inspections and the buyer wants you to fix them. If that is not possible, they will want you to adjust the price accordingly. Sometimes the appraised value of the homes for sale Portsmouth VA is lower than what the buyer offered to pay. In that case too, they will want to negotiate a lower price. If you refuse to negotiate over these issues, the buyer may refuse to close.
You have liens and you hide them from the buyer
Your home may have a tax lien placed on it or you may have failed to pay the HOA fee for six months. When the buyer performs a title search, they will get to see any liens placed on the homes for sale Portsmouth VA. You cannot sell the home until you get the lien paid off or until the borrower agrees to pay them off.
Several things can prevent the sale from closing. While it is true that you cannot control all of them, try not to commit the mistakes mentioned above. Be willing to negotiate and don’t give buyers a reason to doubt your integrity.