Five Factors That Could Affect Your Home Sale, When selling your home, you know you are going to need some improvements, from fixing the leaky roof, to renovating your kitchen. These things will make you sell your home more quickly. Making upgrades to your home can help you, but there are other factors than can affect your home sale.
- Deadly invisible gas. You might not know this, but radioactive
radon gas is found all over the United States and the property markets are full of radon-soaked homes. It doesn’t matter how your house is constructed, the radon can get to your home by the soil. If you breathe this gas for a long period of time, you can increase the risk of getting lung cancer. This is not a good thing to have in your home, but there is a professional way to check if you have this gas in your home. If there are don’t panic, there are ways to clear this. You hire a contractor to seal off any cracks in the foundation, install an exhaust to clear the excess of radon and can fit a radon mitigation system.
- Smoking. Real estate agents report that if there is at least one
smoker living in the house, the house will sell for 10 to 30 percent less than a home with no evidence of smoking. Any kind of bad odor can make buyers refuse the deal. You can hire a professional to make a sniff test and hora a cleaning team that can neutralize the odor before you can sell.
- Galvanized piping. These pipes were commonly used in house
that were built before 1970. At first, they work wonders, but through time you can get clogged pipes and can cause the water pressure to drop. It is likely that the buyer’s home inspector will find this kinds of pipes and flag them at the inspection. If this happens, you are going to have to replace all the plumbing in your home in order to close the deal.
- You live in a condo. The problem with the condos is that the
FHA doesn’t like them and will only finance the ones that meet a certain criterion:
- No more than one-half of the units in the building can be rented to tenants
- Less than 15% of home owners may be criminals on the association fees
- the condo association must be extra clean and at least one years’ worth of cash reserves.
The FHA has been funding for over 50% of all loans, the approval of the FHA can make a big difference in terms of the ability to sell your home. If it doesn’t meet the approval of the FHA, you can only sell to a buyer who can qualify for a conventional loan with a stricter down payment, credit score and debt to income ratios.
- Street name. Believe it or not, people notice the name of the
street they are planning on living. It is said that grand-sounding suffixes like Boulevard, Avenue, Place and Way, will sell 36% higher than common names like Alley or Street. Of course, you can control the name of the street, so when selling your home try to focus on the things you can control and always stay positive.
