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Selling a House in the Midst of a Hurricane

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Oh man, we just went through a serious hurricane season and it’s not quite over just yet. But people still need to buy and sell real estate and while things may have slowed slightly, if you need to move, you need to move, no questions about it.Selling a House in the Midst of a Hurricane

So what happens if you had a house listed for sale and a natural disaster damaged some or all of it? 

A lot of people in Hurricane Katrina had this happen. Their homes were washed away yet they still owed money on it – literally they owed a mortgage on a concrete slab. The situation was dire but there are some things you can do if you had a listed house and it’s now partially damaged by flood or extreme weather.

First – Call your insurance company. 

You don’t necessarily need to take the property off the market, especially if it’s minor damage but call your insurance company first, explain the situation that the house was for sale and how much damage you incurred.

Your insurance company will have a set of steps to take depending on the type of damage. If the home was flooded, you’ll need to take out a claim to get it repaired, flooring replaced, and potentially some of furniture or walls. Make sure you tell your insurance company all of the damage including trees that may have landed on outbuildings or cars, roof leaks, and any damage to personal property. Take pictures, document everything, and your insurance company will have an adjuster to come out and survey the damage.

Second – talk to your real estate agent.

Depending on the damage you may or may not want to take the home off of the market until the repairs are completed. Obviously, buyers are not going to visit a home that has safety hazards or dangerous issues that need to be taken care of first. However, you will need to write up in the seller’s disclosure form any changes, repairs, or additions that may need to be made. You may need to fill out a completely new sellers disclosure form once the repairs are made. This might flow down the entire process of moving, but it’s better to be safe than sorry.

Third – take care of work-related issues and/or homes under existing contracts.

If you were relocating due to work, your work may allow a stipend or a time extension to allow you to repair your home and get it back on the market. Depending on your company, they may also choose to buy the home from you and take care of the repairs themselves depending on if they need you at work sooner rather than later.

If you’ve already purchased a home in your new location you may need to have your real estate agent negotiate different time frames. You may or may not be able to keep that home depending on the demand in the new area, whether you will be breaking your contract by staying on the market longer, a really just the best direction to go if you’ve already had an accepted offer on another home.

Listing a home while you had natural disasters can be a headache, hassle, and will definitely extend the time it takes to move to your new location, but the sooner you speak with your insurance company, real estate agent, and potentially your next job location, the better idea you have on the steps to take, how to save your existing home, and how to move on free and clear.

More Tips for Homeowners:

No Open Floor Plan? No Problem

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No Open Floor Plan? No Problem

Have an older home without an open floor plan? It might be difficult to sell in this market whereas open floor plans are becoming more and more popular. But for hundreds of years, most homes had four walls and the door and each room could be closed off from other rooms. Homes today have more of an open concept for everybody can gather in the kitchen, living room, family room, and dining room that’s all one big room. But what if you have a home that still has that closed floor plan design? How do you appeal to today’s buyers?

Add more light.

One reason that buyers may shy away from a traditional floor plan is the lack of natural light. Sometimes simply repainting a room with a bright, white color is all you need to add more light and natural brightness to a room. You might also consider removing in the drapes or curtains that could be closing off sunlight and natural light coming into the room.

Consider knocking out a wall.

I know that this is a big project and it might not be something you want to do before you list your home, but if it’s not a loadbearing wall and you can take it out fairly easy Lee, it might be a great way to open up the room.

Doors.

Doors can be the main problem when it comes to shutting off other rooms so removing them altogether allowing more free flow from one room to another might be ideal. Of course, you don’t want it to look like you’ve haphazardly remodeled your house, so sealing off hinges and closing screw holes will make the transition from one room to another seem more intentional.

Emphasize other features.

You might find someone that specifically is looking for a traditional floor plan in an older home so don’t beat yourself up too much about trying to alter your home to fit today’s buyers. Somebody will love the home and if you emphasize other features, that will be the focal point rather than the closed-off rooms.

5 Things You Can Do if Your House Won’t Sell

10 Ways to Make a Small Space Seem Larger

 

5 Things You Can Do if Your House Won’t Sell

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No one likes to sit on the market any longer than they have to but if your property is just not getting the attention you would like, there are some things to do that could change the effects. Of course, it really does depend on the market. If you’ve priced it correctly in the market can support it, there may be other issues involved. Here are five things to do if you cannot sell your property.5 Things You Can Do if Your House Won't Sell

#1. Make sure your home offers what buyers want.

Does your home draw buyers in from the curb appeal? Have you taken professional photographs? Have you staged the home, de-cluttered, and cleaned? Does the home need a facelift? Does the curb appeal make buyers want to see the inside? Is the home vacant? If so, it may be time to get a professional stager.

#2. Ask about a guaranteed purchase program.

If you are moving based on job relocation, your employer may help with a guaranteed purchase program. This means that the program will buy your home if you can’t sell within a certain amount of time This is an unusual program but it’s definitely worth looking into.

Read More: Will a pre-inspection help sell my house faster?

#3. Sell to a real estate investment firm.

There are a lot of investors that will buy your home as-is with cash. However, they will usually give you much less than it’s really worth but it could save you a lot of time and headaches.

#4. Consider renting it out.

Instead of selling, your property could generate cash flow while you wait for the market to turn around. Talk to your real estate agent because this may or may not be a good idea for you depending on the current market. If you could get a short-term lease for six months, the market may be better by then.

More: 10 Ways to Make a Small House Seem Larger

#5. Consider new real estate agents.

Agents typically specialize in a lot of different types of properties but maybe you have an amateur agent, someone that is too new to understand the market and how to price your home. It may be time to fire your agent and look for another.

At Sunset Beach and Beyond, we have specialized in buyers for decades and recently partnered with a well-established and experienced listing and selling agency. Whether you are buying or selling we have the agents for you. Every home is different so pricing it correctly from the beginning and gauging the market is really the key to getting your home sold fast.

Find out what your home is worth today!

10 Ways to Make a Small Space Seem Larger

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Staging a small room or home can be a bit challenging and while you don’t want to deceive buyers, you can do a few tricks of the trade to make space seem or feel larger than it actually is. No one likes to feel cramped or crowded so if you’re staging your home for sale or just want to expand your own space a little more, use these simple tips to make a small space appear larger.  

10 Ways to Make a Small Space Seem Larger

Paint or wallpaper the ceiling to make the room look taller.

You want your eyes to draw up boards, which in turn, will make the room feel larger.

Stick to light tones and colors on the wall and the floor.

Darker colors can make a room seem smaller and more closed in.

Pull furniture away from the wall.

Keeping the furniture right up against the wall can make things look and feel cramped. By pulling things away from the wall it shows that there is additional space and may give you extra room to hide things.

Read More: Home improvements that quickly add value

Make furniture work double duty.

Make use of hidden storage and double duty items by using Ottomans and coffee tables as additional storage.

Remember the rule of three.

Keep decorations and knickknacks in sets of three and keep things larger than a cantaloupe. Small knickknacks and items may actually crowd a room.

Use stripes and rugs.10 Ways to Make a Small Space Seem Larger

A striped rug can make a room appear longer as long as you orient the stripes the length of the room for optimal effect.

Use furniture with exposed legs.

Furniture that does all the way to the floor makes it look bulky and crowded.

Read More: Staging has decreased time on market

Use mirrors and glass.

You can strategically placed mirrors to create the illusion of more space and subsequently, glass items will make it feel like there is more room as well.

Use lighting to your advantage.

You can say floor space by hanging smaller lighting from the ceilings or create a sense of more space by doing away with overhead lighting altogether.

Use a larger art piece rather than a bunch of small pieces.

Always go up and out when you can to give the illusion of a larger space.

Whether you are selling your small house or condominium or just looking to make the room feel larger, these 10 tips will certainly help get you started.

What’s Your Home Worth Today?

Should My Agent Advertise My Listing on Social Media?

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Being in the real estate industry we speak to a lot of buyers agents and listing agents and have a good sphere of influence and book of business that we commonly refer to, especially when we take on a new listing. Because we work with both buyers and sellers we may have a buyer ideal for your listing, alleviating the need for any advertisement. But, should your agent advertise your listing on social media?Should My Agent Advertise My Listing on Social Media?

In today’s social media forward world if your agent isn’t on some form of social media they may not be doing their clients justice. Buyers are on social media and by using it correctly you can advertise to the right individual and get the lead you need, however, nobody wants to look at a feed full of real estate listings.

So how can a real estate agent advertise correctly on social media?

Well, for starters, a real estate agent has to be well-versed in whatever social media they are going to use. This could mean Facebook, Instagram, Pinterest, LinkedIn, or Twitter, but whatever they do, they should be advertising more than simply listings.

As I said, nobody wants to look at a feed full of real estate listings unless that’s what a buyer is looking for at that moment. The problem is, you want people to be interested in your voice and your activity far before they actually need to buy a house and to do that, you need to offer other practical and helpful information.

If you’re listing your home, you’ll want to ask your agent how they advertise. You want a good range of advertising options such as in person, flyer, open house, online, MLS and any other way that could possibly bring in a buyer. But it’s okay if your agent isn’t on EVERY social media available… I mean, there are something like 3000 of them and that’s impossible to keep up with.  We have to go where the buyers are and have a good wealth of followers to do any good. I recommend using an agent that knows how to use at least 2-3 social media outlets well. They might post other things like recipes, gardening tips, local events and news, funny jokes and memes and then throw an amazing listing in there from time to time. If the people have followed thus far, they may be more likely to share your listing as well. 

And images matter! We are in the Snapchat/Instagram era where photos are the thing that catches the eye. If the image is stunning, the click-throughs will follow, which is why it really pays to have amazing listing photos. 

So yes, your agent SHOULD advertise on social media if they use it! Just throwing up a bunch of listings is nothing people want to look at, unless you’re Zillow…

More Goodies:

3 Truths About Real Estate Agents

Benefits of a Real Estate Team When Buying and Selling Simultaneously

4 Truths About Real Estate Agents

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We want our clients, whether it’s a buyer or a seller, to be well informed about the home buying and selling process and that sometimes means being honest about real estate agents. Not all agents are ethical, shocker! But by weeding out to those that might have unethical practices, we can help you be more informed and better able to make a wise decision when it comes to selling and buying and who to represent you.

4 Truths About Real Estate Agents

With that in mind, here are four things you should probably know about real estate agents before buying or selling.

Real estate agents can work both sides of the transaction.

This means that the same real estate agent can assess the buyer and the seller in the same transaction. Typically, the buyers have their own representation and the sellers have their own listing representation but dual agency is allowed in most states and this is where the same real estate agent can represent both the buyer and the seller. You can probably already start to see the discrepancies and conflicts of interest that this can create. If an agent is representing a buyer and a seller, how can they hold up to their fiduciary duty and be honest both sides? Confidentiality can be skewed when it comes to representing both sides. If a buyer is trying to negotiate for a lower price but the seller knows that the buyer can afford more, chances are that buyer is getting the short end of the stick. Similarly, if the seller can come way down on the price and the buyer knows it, they’re going to keep negotiating for that lower price. You can see how this can be a huge conflict. It’s best to have your own agent representing you, regardless of which side you are on.

Commission is negotiable.

Most listing agents will tell you a flat 6% commission but it is negotiable. However, that 6% is split in half between the buyer’s agent and the seller’s agent. For higher-priced homes, there is a pricing strategy that can be used but when negotiating, just remember that you can always negotiate for a lower or a different type of split to be more attractive to buyers agents, drawing in more buyers.

Open houses may not work.

Sellers expect open houses but they usually don’t necessarily sell the house. Statistics show us that only 7% of buyers find their home at an open house. Often times, agents will sit open houses simply to gain more buyers, rather than to actually sell the house. When it comes to an open house, it’s truly up to the homeowner whether they choose to have an open house or not. There’s always the security aspect so think carefully before deciding on an open house.

Read More: Is it okay to find a Realtor® at an open house?

You are free to choose your own service provider.

Because we work with both buyers and sellers (because we have listing agents) we have a plethora of resources such as home inspectors, real estate attorneys, escrow and title companies, but you have the ultimate choice on who to use. One little piece of advice when it comes to service providers, experienced, long-term agents have usually built up a better book of referrals and resources the new agents. Because we have sold real estate for decades, we have found excellent service providers that are reputable, honorable, and affordable.

Great Questions to Ask Your Realtor®

The point is to choose your real estate agent carefully. We have listing agents and we are buyers agents so even though we are on the same team are loyalty lies to one side or the other during a transaction. Feel free to interview us, ask questions, and contact us when you’re ready to buy or sell throughout Brunswick County in both North and South Carolina.

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