Monday, January 28, 2013

What are the Pros and Cons of Selling an Empty Home?



Do you have a home for sale that is vacant or empty?

Perhaps you're in the situation a lot of my clients are: you needed to move out of your home before it sold and it's now on the market vacant.

Or you had your home leased, the tenants moved out and now you've decided to try and sell it.

What are your options? Is it easier to sell a vacant home or one that is occupied?

Here are some Pros and Cons of selling a vacant or empty home:

PROS

  •  It's easy for Realtors to show at a moment's notice 
  •  Any repairs or inspections can be done without inconveniencing owners or tenants 
  •  Cash buyers who want to close and move in quickly may be able to do so without waiting for an owner or tenant to move out 
  •  Can be easier to show than a very cluttered or unclean home 

 CONS 

  • Buyers find it hard to envision their furnishings if there aren't similar items in your home 
  • Buyers can focus on any perceived flaws that are more noticeable when the home is vacant 
  • Tend to sell slower because it's hard for most buyers to connect with an empty house when searching online or seeing in person 
  • Maintenance issues may not get caught in time to be repaired inexpensively 
  • Difficult to monitor inside temperatures during winter and summer to be comfortable to buyers and prevent maintenance issues such as leaks and freezing pipes 
  • Can be subject to vandalism or theft 

 Obviously the optimum way to sell a home is with furnishings and accessories that appeal to buyers and show the home to it's best advantage. This can be accomplished either by staging your home or vacant property or by having a caretaker move in temporarily with appropriate furnishings while the home is on the market.

From my experience, time and again, if a vacant home is priced correclty it will sell in fewer days once it is staged professionally. Consider your options before you put the home on the market and take full advantage of being the "new kid on the block" by preparing your home to sell BEFORE you list it.

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