Selling in a Buyers Market
If you are thinking of selling your home during a buyers market you should know what to expect.
In a typical sellers market, you could sell a home in one weekend with multiple offers and receive an offer over your asking price. But in a buyers market when you have plenty of homes and fewer buyers the tables have turned. In this video I will discuss 4 things your should expect if your selling during a buyers market.
#1. Low ball offers - Sellers in soft markets lose equity. Less overall demand for homes puts pressure on sales prices, causing buyers to make lowball offers.
#2. Less Activity - less viewings brings about less offers for your home. It is important to be patient and understand that it will take longer to sell your home, 3 - 6 months is the norm in a buyers market.
#3. Buyers demand repairs - Buyers demand homes in good condition. In most cases the buyers will perform a home inspection of your home, and may have a list of repair recommended by their home inspector. In a buyers market the buyers may demand that the seller pay for these repairs or perform them before completion.
#4. Subject to sale clauses: Not every buyer is a first time home buyer, or a new immigrant. Most buyers need to sell their own home before they can purchase yours. If a buyer's home does not sell, neither will the seller's and by that time, the number of buyers typically dwindle even more.
So there you have it the 4 things you should expect when selling your home during a buyers market. If you have any questions please reach out to me.
If you are thinking of selling view my playlist of videos here or reach out to my for a free home evaluation.
Question of the day, would you sell during a buyers market? Yes or No Please leave it in the comments below. I will try my best to personally answer all comments myself.
As always please like, share and subscribe and become smart savvy consumer. I make educational videos every Tuesday and videos every Friday. This is Alex from Vancouver and Thank you so much for watching this video eh?