Are you thinking of listing your home with a local Hawaii agent? You absolutely have to know these 6 facts about selling your house in Hawaii that an agent may not tell you. Before you pick up the phone and reach out to a real estate agent to sell your house (or condo, townhouse, land, etc.), make sure you’re fully aware of everything that comes with the ‘traditional way’ of selling your house.
Btw – before we dive in, let us just say that there are some very good agents out there, and sometimes listing with an agent is the way to go……..but not always, and that’s where we come in……
You’ll have to give and take regarding when you can make your house available for showings. You can’t always decide when you’ll have to open your doors (well, not if you want the best chance of selling). The agent’s job is to walk as many (hopefully pre-screened) buyers through your door as possible to increase the chances of getting one who says ‘yes’.
This also means not just having your property available with little notice, but also keeping it looking nice, clean, and organized…..continually. This is one detail about selling your house in Hawaii that an agent may not tell you. They’ll want it in as much ‘showroom’ condition as possible.
Show me the money! Yes, we all want our proceeds and we want them yesterday, but that’s not always how it happens. Traditional closings can hinge upon satisfactory inspections and loan appraisals, not to mention a slew of other potential roadblocks: buyers funding is delayed, escrow is behind in prepare the paperwork, you didn’t make the required repairs in time (yes, retail buyers often ask for repairs before closing), or a virus hits and derails the entire process.
This is another fact about selling your house in Hawaii that an agent will not tell you….your sale may not close when you need it to.
Days on the Market
Did it close yet? While your real estate agent may be able to quote the median days on the market for current listings, one thing they cannot tell you is just how many days it will take to sell your property. Some properties sell within days, some take up to a year. Without having a realistic picture of how long it might take to find a buyer and complete your sale, the plans you start to make may quickly go out the window. You may also find yourself responsible for two properties(!) if you are forced to move before the sale is finalized. This is another piece of information about selling your house in Hawaii that an agent will not tell you…..you’re not really in charge of the timeline.
The deal is off? The bottom line is, your sale may fall through entirely if one or more contingencies aren’t met. Contingencies are provisions in the contract that must be satisfied before the sale is finalized; almost all transactions in real estate have some form of contingency. For example, if your house doesn’t pass the professional inspection or appraise for the purchase price, the buyer or their lender may want to renegotiate or even walk away from the deal completely – it happens all the time. This means restarting the process or canceling the sale entirely….something else about selling your house in Hawaii that an agent may not tell you.
Just when you think everything is looking good and moving towards the sale, the inspection returns a laundry list of problems, everything from termite damage to broken cabinet handles. You should assume every buyer will get a professional inspection done before agreeing to proceed with the purchase. Depending on the nature of the previously unknown issues discovered, the costs to repair or replace the problem could run into the thousands…..and you should expect the buyers to ask you to foot the bill. Another thing about selling your house in Hawaii that an agent may not tell you is that you may be responsible to complete any repairs required by the lender or a contingency before they’ll agree to fund the loan. Failure to complete the repairs, despite any lack of funds you may be facing, will wipe out the sale or delay it for a looooooong time.
Slice of the Pie
Commissions, fees, marketing, staging, storing belongings to reduce clutter, and closing costs — they add up considerably. Add to that any costs required from the inspections or negotiations afterward and you’ve got yourself a 5-figure deduction at least, maybe more. All of this eats away significantly at the profit you’re expecting….or, if you have little to no equity, being able to sell this way at all. Carefully consider these facts that take away from your bottom line when selling your house in Hawaii that an agent may not tell you. After all, the bottom line is the most important figure, right? It’s not the sales sticker….it’s the final result that matters.
Intrusive, expensive, time-consuming, and offering no guarantees are facts about selling your house in Hawaii that an agent may not tell you. Oahu Home Buyers saves you money, time, and provides you with a guaranteed and very quick closing date. These are just a few of the reasons why a direct sale to Oahu Home Buyers may be better for you. Send us a message or call (808) 333-3677 today to find out more!