If only it was as simple as putting a ‘Home For Sale’ sign in the front yard of your Hawaii house for sale and letting the process run on autopilot from there. Once you’ve gone through listing your home on the market in the traditional manner, you quickly understand that the reality can often be quite a different story altogether.
Read on to learn about five things that can go wrong when selling your house the traditional way in Hawaii.
Price
One of the biggest things that can go wrong when selling your house the traditional way on the MLS in Hawaii is over- or even under-listing your property. So how do you know how much to list your Hawaii home for? Run a “CMA” or Comparative Market Analysis and price accordingly.
Comparing the most recently sold and nearest properties with similar features to your own (apples to apples, as we say) helps to determine your property’s fair market value. However, it is very common for sellers to insist their homes are worth more because of the emotional weight they attach to them (which is understandable but ultimately not productive); real estate agents are prepared for this and may often entertain their clients initially but know that they will have to drop the price later — unfortunately, this only serves to waste (expensive) time (weeks or even months) and label the listing as ‘stale’ which subsequently attracts lower offers from home shoppers.
On the other hand, with a direct sale to a company that buys houses in Hawaii like Oahu Home Buyers, your closing date is on the contract itself and can often be adjusted or delayed if you need more time.
Buyers
Your buyers may tie up your listing for weeks or months (at your continued holding expense), only for their financing to fall through at the last minute and force you to start the process from scratch. But, no matter how it happens, a buyer backing out of the deal for lack of funding is another thing that can sometimes go wrong when selling your house the traditional way in Hawaii. However, at Oahu Home Buyers, we don’t use traditional bank financing to fund our purchases — we use specialty sources of capital that don’t require such red tape.
Hidden Costs
It takes money to make money, as the saying goes, and running out of money is one of the most stressful things that can go wrong when selling your house the traditional way in Hawaii. When you add up all of the expenses — which can be significant in Hawaii! — to list in the traditional method, including the commissions, marketing, cleaning, and repairs, not to mention ongoing mortgage and maybe HOA payments, listing on the market may not be the right choice for your individual situation. With a direct sale to a buyer like those at Oahu Home Buyers, you won’t need to worry about keeping the property ready for showings or passing the inspections. Oahu Home Buyers buys houses in as-is condition, even if the property is a ‘teardown’!
Holding Costs
Having your listing waste away on the Hawaii MLS is an expensive thing that can go wrong when selling your house the traditional way in Hawaii. If time is important (‘of the essence’) and you are selling due to financial pressure or constraints, the unknown factor of a closing date with traditional listings means you must consider ongoing holding costs. It can become overwhelming when the bills continue to deplete your cash reserves. Working with a professional buyer like those at Oahu Home Buyers will help you avoid this scenario because they will disclose all of the hidden costs involved with a traditional listing so that you can compare the net proceeds against those from the fair offer from Oahu Home Buyers for yourself.
Oahu Home Buyers
The professional home buyers at Oahu Home Buyers know all about the things that can go wrong when selling your house the traditional way in Hawaii and want to help you avoid them. A direct sale to Oahu Home Buyers means you walk away from the closing table with cash in hand (maybe even during a short sale, which we also do in Hawaii); what we offer is what you receive.
At Oahu Home Buyers, there are no financing concerns (we don’t rely upon conventional bank financing), no repairs required (even teardown houses), no commissions or hidden fees to pay, no marketing costs to worry about, and a closing date set around your schedule for convenience. With simple contracts and an easy process, why not find out how Oahu Home Buyers can help you? Contact Oahu Home Buyers at (808) 333-3677 today.