Strategies for Selling a Vacant Home

As the real estate market continues to stabilize, sellers may find that their property remains on the market significantly longer than the days of “list today, sold tomorrow.” There is also more competition for buyers. So, it can be frustrating to put your home on the market, expecting a fast sale, only to find that after six months you’re still waiting for an offer. This is especially true if you need to move quickly and leave your unsold home vacant.

• Instead of producing a spacious appearance, an empty room tends to look smaller than a furnished room. So, leave behind a few select pieces of furniture and keep the window treatments in place. A chair or lamp on a small table will confer a sense of scale and help potential buyers gauge whether their furniture will fit the space.



• If you decide to remove the furniture, have the house cleaned and painted. Furniture, rugs and decorations tend to hide or minimize imperfections. When furniture and artwork have been removed, every blemish and bruise becomes accentuated, faded paint and wallpaper become more noticeable and scratches and nicks stand out.



• Repaint brightly and boldly colored rooms to a neutral tone. What was an eye-popping room when fully-furnished may appear stark and small when empty.



• To thwart unwelcome visits, give the house a lived-in look. Set a couple of lamps on timers, and ask a neighbor or friend check on the house daily to collect mail, park a car in the driveway, and close and open drapes and windows. Continue using a gardening service or hire someone to cut the grass regularly. During the winter months, arrange to have snow shoveled from the walks and driveway.



• If available, consider employing a home manager or house sitter. At little or no cost to homeowners, the house is furnished and decorated for show-to-sell condition. Most companies require home managers to mow the lawn, shovel snow, even pay pool maintenance and utilities. Having someone living on site discourages vandalism, protects against deterioration and weather hazards and may even reduce insurance costs. (Check with your insurance carrier.)



• Leave the utilities connected. Depending on the season, make sure the thermostat in the house is set at a comfortable level. You don't want a potential buyer to run through the home because it is too hot or cold.



• Review your homeowner's insurance policy with your insurance agent to find out what the stipulations and coverage pertain to your vacant home.



• Find a real estate professional with experience selling vacant houses. Often, these sales professionals specialize in relocation. You want to make sure that you are comfortable with your lines of communication. If you will be residing in another town, come up with an agreement on how often your representative will check on the home and what should be done if a problem develops.

It Pays to Prequalify!!!

A powerful edge for a buyer beginning the buying process is to find the right lender. Why at the beginning? To obtain prequalification for a loan. The ideal time to have a lender prequalify you is BEFORE you get into our car to look at property. Then, you know that you can afford the homes you are looking at. We will assist you in selecting a top-quality lender who will then process all of your financial information and help you establish your budget.

When you are “pre-qualled,” not only do you know exactly what you can afford, you will have a signed document from a legitimate, bona fide lender letting a seller know that you are absolutely serious about getting the best price. Pre-qualled buyers also have a definite edge over others who might be submitting competing offers.

The last six months have brought about a great deal of change in the lending industry. It has been estimated that as many as 40% of the borrowers who could obtain financing 6 months ago, could not obtain the same or similar financing today. That fact alone makes the prequalifying process more important than ever.