Part 11 of 12
Experience tells me it takes longer than you anticipate to get the home on the market. Planning ahead and knowing how the pacing works, will help you make the decision on when is the best time to get started in the process. With higher interest rates, and buyer apprehension, but not at the pace and speed they were previously. Sellers are also having to make concessions with repairs and closing cost assistance more now than in recent years. Its important to know the process and timeline so you hit the market when its right for you.
We are in the heart of the Spring Market. Traditionally this is the most active part of the year. For me, my Spring season is always the most intensive. Our communities connection to the Elizabeth City Coast Guard market, means many deals are driven by transfer season which happens in the late Spring and early Summer. There are also many families that want to make the move in between school years. When the weather is warm, so is our market. This entry is going to help you determine when is the best time to get your move started.
The first thing to remember is even though Spring is the most active part of our market, if you and your home aren’t ready to get started, its counter productive. There are many homes sold throughout the year, and just because Spring is the most active, doesn’t mean its the right time for you.
Its important to remember that 45-60 days is a standard contract period. If we list the house today, and get an offer on the same day, its still going to be 45-60 days before the house closes. There are offers that come in with a shorter contract period. 30 days isn’t common, but its possible. There are also offers that ask for as much as 60 days based on the move schedule of the buyers.
This 45-60 day period is the time it takes for buyers and their team of professionals to get paper work in place, research for the deeds, home inspections and required loan procedures.
From the time you tell me ‘go’, it takes me an additional 7-10 days (as much as 14) to get photos scheduled, video production and legal documents prepared. It can be shorter, but this window gives me enough time to create a unique and customized marketing plan for your home.
We also need to factor in how long it will take you to prepare your home for listing. If there is work to be done, it may take some time to schedule vendors. I also WHOLE HEARTEDLY believe in scheduling pre-listing inspections of the home including a septic and pest inspection. We need to factor in those as well.
Chris Whitehurst
Berkshire Hathaway-RW Towne
252 312 2263