4 Things To Do When Your Lakeland Fl Home Is Not Selling
Has your Lakeland Fl home been on sale in the market for months without even a single offer? Have you spend lots of money on advertising your home for sale in Lakeland Fl and even lowered your price and yet, no one has made an offer?
Taking the home off the market may not be such a bad idea, especially if a price adjustment is not an option.
Your Lakeland Fl agent may call your home an expired listing, and it may be plain to see that your Lakeland Fl home is just not selling. So what other options do you have if this happens to you?
1. Postpone Selling Your Home
Maybe it’s just not the right time to sell. If your home is located in a community where many homes are on the market and sales are slow then it is a buyer’s market. Maybe you should take your Lakeland Fl home for sale off the market first and wait for the inventory of homes to decrease. The fewer homes in Lakeland Fl for sale available, the better chances that your home will get offers. When it comes to the time of year, spring is usually the best season to sell since it brings many buyers.
2. Get a New Mortgage.
If your motivation for selling is solely financial, then it might be wise to take out a home equity loan, as long as you can afford the higher monthly payments. If you are currently on an adjustable rate mortgage and your payment has increased due to interest rates going up that you can no longer afford it, then you might consider negotiating for a loan modification plan with your lender or have your ARM converted into a fixed-rate mortgage with a lower interest rate. Before taking out a new loan or getting a loan modification, make sure to seek the help of a trusted financial adviser.
3. Rent It Out
If you need to put up your Lakeland Fl home for sale due to a relocation, then you may have no other choice but to rent out your home. Even if the money you get from the rent won’t be enough to cover your mortgage, paying a small additional amount every month is better than spending thousands of dollars for a vacant home.
4. Consider a Lakeland Fl Short Sale
If you owe more than your home is now worth, then you might need to opt for a short sale, which is way better than a foreclosure. Hire a Lakeland Fl short sale agent who is very knowledgeable and experienced in short sales to help you through the short sale since it is a very long and complicated process and is different from selling a regular home.