“Why won’t my house sell?” you ask yourself after four long months of sitting on the market. On average, it takes 68 days to sell your home. You know something’s wrong when you’re well over this estimate.
There are a variety of factors that can stop homebuyers from sending you the offer you’re looking for. It only takes one to keep your house sitting there, mortgage payment after mortgage payment.
Want to know how to get rid of a house you can’t sell? Let’s find out. Here’s the secret to getting your house off your hands as soon as possible.
How to Get Rid of a House You Can’t Sell
Always speak with your agent when you have concerns about the sale of your home. It’s the agent’s job to make sure things go swimmingly. Unfortunately, a bad real estate agent will ooze positivity and tell you what you want to hear.
Even when you’re well past normal closing estimates.
If you want to exercise your own agency, consider some of these suggestions.
1. Wait for a Better Market
In theory, the right home at the right price shouldn’t linger on the market. Are you asking for fair market value? If so, buyers may not be biting for reasons outside of your control.
Some seasons are better than others. The real estate market heats up during Spring and Winter and starts to cool off with the colder months.
If you’re selling during Winter, there are a limited number of home buyers to attract. It might be best to wait a few months for the local market to spring to life once again. However, that means you’ll have to compete with other sellers who decided to wait.
The real estate market can transition quickly between a buyer’s market and a seller’s market. This can vary from neighborhood to neighborhood, regardless of national trends. Even if you’re selling in the right season, you may just have to wait for the market to develop before trying again.
2. Seek Out a New Agent
There’s nothing easy about selling a home. That’s why homeowners rely on a seller’s agent to handle the sale process. But when that process goes sour, your agent should have a plan to turn things around.
Ask your agent why your home isn’t selling. A skilled real estate agent should be proactive and enact new ways to entice homebuyers, whether that’s lowering the listing price or upgrading the home. If you feel like the agent hasn’t been pulling their weight, they probably haven’t.
You shouldn’t feel like you have to find the solution yourself. Remember that the seller’s agent is working for a hefty commission fee. This is what you’re paying them for in the first place.
If you still love your agent, maybe they just need a little advice. Learn more about some simple ways an agent can help you sell your home.
3. Improve the Property
You’ve shown the house to several interested buyers but never snagged an offer. In some ways, this is a good omen. It means they were happy with the price, the neighborhood, and the images of the online listing.
So what made them run away?
Well, a lot of things can change in person. They probably weren’t happy with the condition of the home or its overall aesthetic. That means you need to make some improvements before the next showing.
Of course, nobody wants to put more money into a home they’re trying to sell. But there are some great ways to improve your home’s value with minor work.
For one, turn to the paint job. Paint over questionable colors with neutral tones. Look to make small upgrades to the flooring, kitchen, or bathrooms, as many homebuyers value these commodities.
If the home needs a lot of work, consider tackling some of the minor problems that are chasing buyers away.
4. Lower the Sale Price
Anything will sell at the right price. Want to know how to get rid of a house that won’t sell?
Make it cheaper.
When you’re struggling to attract any buyers at all, look at some nearby homes for sale with similar features and footage. If your prices are wildly different, that’s a sign there’s a problem with your home’s valuation.
Unfortunately, you may have trouble selling your home even at its fair market price. When that happens, you’ll have to consider pricing it below its real value.
Saying goodbye to $30,000 is no easy task, but it’s preferable to making mortgage payments on a home you can no longer afford.
5. Find a Renter
Not everyone has the luxury of waiting for a better market or making expensive home improvements. You need to move now, but the house is still on the market. So what do you do?
Keep it. Even if you have to make an interstate move, you can find a renter. Their monthly payments can cover most or all of the mortgage. When you’re ready, you can stop renting the property and put it back on the market to try a new round of buyers.
There are many concerns about owning a rental property. However, there are plenty of affordable services that will help you manage the home while you’re thousands of miles away.
Sell Your Home Fast
You know how to get rid of a house you can’t sell. Now you just need to start. All it takes is a single change to set things in motion.
Talk with your agent once you’ve decided on a solution for your home. They’ll be able to navigate any potential pitfalls and coordinate a plan of attack. From there, the hardest thing you’ll have to do is say goodbye.
If you’re looking for more advice, check out the real estate section on our website.
