What Has Changed For House Sellers Since 2021
The euphoric hype of 2021 has faded and plaster clad house sellers are faced with the grim reality of evaporating buyers and rock bottom offers. It doesn’t matter how good you think your house is, it’s what buyers, inspectors, banks and real estate agents think that counts.
This is what’s really happening now;
- Your house goes on the market with high expectations – after all, it looks OK to you.
- A buyer is interested and makes an offer subject to inspection and finance,
- Their inspector usually picks up on a couple of areas which ‘could’ have high moisture or water damage,
- The buyer’s bank won’t lend, the buyer walks, and the real estate agent now has knowledge of an adverse building report, which must be declared to future potential buyers,
- From now on, offers are low-ball, even below land value as everyone factors in that the house probably requires a re-clad, if not a full rebuild.
- You ask “What the heck just happened?”
We see this pattern repeated time and time again, so how can you head this off and help ensure that your house sells for fair value?
House Sellers – How To Sell For More
An informed house seller realises that they need to get ahead of this process, and stop it happening.
- The house seller has a moisture probe monitoring system installed in their house, which provides accurate, indisputable data on the house condition – moisture levels, decay and timber treatment levels.
- If repairs are required, the house owner either completes these prior to listing or makes full disclosure to potential buyers.
- Buyer makes their first offer based on seller’s disclosures, and buyer’s inspectors are unlikely to find any further issues that would stop the sale.
- House sells at a value that is fair to buyer and seller, and the moisture monitoring system stays as a chattel of the house, to assist the new owner with future maintenance.
A real estate agent contacted us recently and their client’s house which should have been worth over a million is struggling to get offers over $400,000. That’s what’s happening in the real world.
House Sellers – take the initiative and put the alternative process into play is before listing.
Contact us at Moisture Detection Company for more information.