What happens if no one wants to buy my Connecticut home for sale? - Reid Real Estate Group
August 16, 2018

What happens if no one wants to buy my Connecticut home for sale?

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Many of my sellers (including short sellers) frequently ask me what will happen if no one is interested in buying their home. I’ve always been surprised to hear this, as there is simply no such thing as a home that won’t sell. There are only homes that won’t sell at their current price.

ANY HOME WILL SELL AT THE RIGHT PRICE!

Assuming a home has been properly marketed, you always have two options when facing lack of buyer interest:

sold home sign

IMPROVE THE PROPERTY: If the home is outdated, has an awkward layout, needs new mechanicals, smells like dogs, is cluttered and dirty… these are all condition issues that can be changed that will influence market response. When possible, improving the property is a good choice.

IMPROVE THE PRICE: If condition can’t be improved (for example - the house is already in excellent condition, or there are no available funds or manpower to address condition issues), then price can always be improved.

But what if there is not enough equity to lower the price and still be able to sell? If you can’t sell the home for enough to meet the debts associated with the property you can:

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Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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