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'Tis the Season:  Selling During the Holidays

During the holiday season, the focus for many turns to home and family.  Many buyers cease searching for a new home during this time; however, there are many others who have no choice--they must continue their search because of job transfers, family changes or relocation.  Due to the fact that many sellers feel that during this holiday season, they would prefer not to be 'disturbed,' they will temporarily remove their homes from the market until after the first of the year.

 

 

 

I recommend that my sellers remain on the market during this time if at all possible.  The reason--there is far less competition.  Yes, there are fewer buyers but, the competition is far less and you've got a better chance of selling during this season than waiting for the spring's flood of new listings.

Consider this--holiday festivities are a breeze at your home that is on the market during this season because you have already done the work to constantly keep your home in showing order to be prepared for a showing at a moment's notice.  Your efforts to reach out to potential buyers could pay off during this challenging time!

 

 

When your home offers the features and amenities. location and price that a potential buyer is looking for, you are more likely to sell it quickly in the winter than waiting for the spring or summer buying seasons.  Your home may very well be looking its best this time of year.  Here are some tips for setting the stage for your holiday listing:

1. Adorn your front door with a festive wreath.
   
   
2. Place a fresh welcome mat at the front door.
   
   
3. Minimize your holiday decorations--tastefully selected decorations will give the buyer a 'warm' feeling but, not distract their eyes from your home, which is what you want to ultimately sell.
   
   
   
   
4. Remove furniture to accomodate your decorations--you don't want your home to appear smaller than it is because you've tucked a small tree in the corner and pushed your furniture together to accomodate that tree.
   
   
   
   
   
   
5. Holiday scents will make your home seem warm and welcoming--consider boiling an apple slice and a stick of cinnamon just before a showing.  You can store your boiling pot in the refrigerator for several days for re-use.
   
   
6. If you're only stepping out of the home for the agents to show, leave it toasty with a fire in the fireplace.  Do not leave your home unattended with a fire burning though!
   
   
7. Because winter months can be dreary because of the weather, raise your blinds and leave the lights on.
   
   
   
   
   
8. Do not over-decorate--all buyers do not celebrate the holidays in the same manner that you do so, give your home a warm feeling but, don't overdo it.
   
   
9. Leave your stereo playing classical or jazz music softly during showings.
   
   
10. As you leave your home for showings, ask yourself if you've appealed to all senses:  visual, smell and sound.  You may even want leave them cookies to appeal to their sense of taste!
    

 

Other holiday incentives you can offer:

• If you can cover the buyer’s closing costs, or a portion thereof, you may attract potential buyers to your home by advertising this information.
• Offer a “decorating allowance” for purchasing your home during the winter months. 

 

Keep in mind that when you place or leave your home on the market during the winter holiday season, people rarely “browse” for homes during this time of year. The potential buyers who do visit your home are serious about buying and are often in a hurry to do so.

 

The equation is simple:  Serious buyers +  tastefully done festive décor = you, well on the way to selling your home!  'Tis the season!

   

      

   

It's fairly ubiquitous today to hire a licensed home inspector when purchasing a home.  This is a good thing. For most folks a home purchase represents the largest amount of money to be spent in their lifetime. The home inspection contingency is typically one of the "big three" contingencies in an offer to purchase.  

While specific language and format will vary, the basis of a home purchase agreement has, in essence, three components from the buyer's point of view.

 

We will purchase your home if...

1. You agree to our price
2. We can acquire appropriate financing
3. Upon inspection(s) the home has no defects which we deem unacceptable

If any of those contingencies are not met, the buyer has an out and will likely be able to recoup any money paid into an escrow or trust as a deposit.

I guess this is where I should put my disclaimers. 

I am neither an attorney nor a home inspector - this post is to be construed neither as legal advice nor specific recommendations on any construction, structural, etc issues regarding a home you wish to purchase.  Any similarities to actual persons living or dead is purely coincidental. One offer per household and finally - employees of Rick Schwartz Homes, any affiliates, wholly or partially owned subsidiaries or related companies are not eligible.

The question I'm posing, as a Realtor is this: Should it be assumed, by the buyer, that the seller should bear the cost of repairing any and all defects uncovered during a home inspection?

My purpose in this discussion is to raise the issue for thought as to why we do home inspections and should the buyer plan to use this moment to renegotiate the purchase price of the home.

We do home inspections in order to uncover defects in the home that might not be noticed during the shopping process.  Things that might not be visible during a routine walk-through. Most defects are fixable.  There is obviously, a cost involved in any remedy.  The key point, in my opinion is one of expectations.  The purpose of the inspection is to uncover things that were not likely to be apparent when you are in "shopping" mode.  Examples:

• If you see water dripping into a large puddle in the center of the basement directly under the kitchen, you should not be surprised when a home inspector reports a plumbing issue.
• If you see scores of rodent traps on the floor in several rooms, you should not be surprise if the inspector hints that there might mice present.
• If there is black tape across the front of several electrical outlets, you should not be surprised if the inspector recommends that an electrician check the place out.
• If the front view of the house looks more like the one on the left in the image below, rather then the one on the right, you shouldn't be surprised at anything the inspector finds.  

Serious point here is that your own walkthrough which happens long before you negotiate price should give you a general idea of the condition of the house. If you have a feeling that there are issues yet to be discovered, say so early on. Have your Realtor let the listing Realtor know that you are making a lower offer because you saw, this or that or the other.  Take the condition of the house into account before you decide what you want to pay.

Your home inspection is, without a doubt, going to reveal some items that need to be corrected. If they are minor, put them on your list of things to work on when you move in.  If they are major safety, health or structural issues, then either ask the seller to pay for repairs, split it with them or use your contingency to pull out. 

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