It is often said that spring is the best time to sell a house. Indeed, March, April, and May are the most profitable and speediest months to sell property, in most markets. Every season has its pros and cons though. Keep these factors in mind if you intend to sell this spring or next.
Positives
1. Bidding Wars
In spring, buyers flood the market and competition is fierce. When several buyers are interested in a property, this sparks a bidding war. You then evaluate and choose the safest, sweetest, and fastest deal. Better still, if buyers continue to outbid each other, you stand a better chance of selling your house at or above its asking price.
2. Quick Sales
Spring sees a lot of action in real estate, and houses do not stay on the market long. Buyers want to close before the end of the season. This gives them the summer to move, when the kids are out of school and the weather is still decent. Their desire to close fast increases the likelihood that your house will sell sooner than later.
3. Curb Appeal
The sunny days and longer evenings trigger buyers to schedule several walkthroughs a day. When they drive up, the first thing they see is the exterior of the home. Assuming you take good care of the yard, spring brings lush grass, fresh foliage, and flowers in bloom. This enhances the look of the house and makes a great first impression on buyers.
Negatives
1. Competition
Competition in the spring market is fierce for sellers too. You compete with all the other houses for sale on the market. Thoughtful staging and constant cleaning helps your house stand out during walkthroughs. However, a house that needs repairs or is behind in maintenance, or maybe outdated, is often passed up by buyers.
2. Everyone is Busy
You are in a rush to sell. The buyer is in a rush to close. Any professional involved in real estate is going to be busy. This means there are tight windows for inspections, appraisals, and mortgage dealings. There is no time to drag your feet. If you get three offers on your house, choose a deal quickly and get the ball rolling.
3. Picky Buyers
Buyers are aware of the competition and how desperate sellers are to sell a house. They can, therefore, afford to be picky and make demands. They can ask you to make repairs or provide other incentives. Incentives include paying a portion of the closing costs, or the first year of a home warranty.
Sell to an Investor
If you want to forgo buyer negotiations, repairs and incentives, consider selling to an investor. Most investors will make a cash offer on a house regardless of its conditions. There are also fewer steps when selling to an investor. You can enjoy a quick closing and move out before the spring season is over.
