If you are selling a home in Knoxville, the process may seem long, and the truth is it can take some time to go through all of the required steps, but it probably isn't taking as long as it feels like! In today's society, we are so used to having everything happen in an instant! You can order just about anything online and have it on your doorstep the following day, so once you become engaged in a process that takes time, like selling a home in Knoxville, it can seem like time is standing still! Let's take a look at some of the key steps involved in selling a home in Knoxville to help you understand why it seems to be taking such a long time.

Preparing to List Your Home

Selling a home in Knoxville, TN starts long before the house is placed on the market. There are a few steps you need to take before you can post that listing. It is crucial that you get a home inspection to ensure that the house is in good condition, or at least so potential buyers are made aware of any potential issues. Once you have had a property inspection, you may also need to have an appraisal to determine the property's value. If there are any repairs that need to be taken care of, whether minor cosmetics issues or more substantial structural repairs, you should address these prior to putting the property up for sale in order to get the maximum selling price. Finally, you will want to consider staging the property to make it look more appealing to potential buyers.

Marketing & Showing the Property

Once the property has been prepared to go on the market, the next step in selling a home in Knoxville, TN, is to market it and show it to as many prospective buyers as possible. Real Estate has moved on from the days of just putting a for sale sign in the yard! Today, you have to get your listing out on multiple platforms and websites. Millennials, in particular, are more likely to purchase a property after viewing pictures online than they are to attend an open house! Making sure your listing gets seen takes time and effort, so it is best to work with a local real estate service like Wright Realty to make it happen. Once you have generated interest via your listing and advertising, you will need to set up viewing appointments and an open house, too. Again, you can work with a real estate agent on this and benefit from their knowledge and experience.

Legal Issues & Paperwork

Buying or selling a home in Knoxville is a huge transaction and comes with a lot of paperwork! If this is your first time buying or selling a property, this can seem insurmountable, especially with all the legal contracts and documentation involved. Wright Realty is a full-service real estate concierge and will help you with every step of the process, including the legalities! However, this part of the transaction can take quite some time as it is important to ensure all of the t's have been crossed and the i's have been dotted!

Mortgage Approvals

Another part of selling a home in Knoxville that can take a substantial amount of time is mortgage approval. Even if you find a buyer fairly quickly, they will likely still have to go through credit checks and loan approvals before they can take the next step. That's one of the reasons why many real estate agents suggest getting preapproval for a mortgage before even shopping for properties, as it helps speed up the process. This often makes offers from buyers with preapproval more attractive to sellers!

External Factors That Can Delay Sales

In addition to the multistep process of selling a home in Knoxville, other external factors can also slow the sale. Some of these external factors include the following:

• Market Conditions - In a buyer's market, there are more homes available than there are buyers, so buyers are able to take their time and weigh up many options, meaning your property may sit on the market for a long time. On the other hand, there is a shortage of houses in a seller's market, forcing buyers to jump quickly when they find a home they are interested in!
• Location & Property Type - A property's location and style can also impact how long it stays on the market. There is a higher demand for urban properties closer to city centers, so these sell faster than more rural properties.
• Unexpected Hurdles - Even with meticulous planning and an expert real estate agent in your corner, sometimes unforeseen challenges arise when selling a home in Knoxville. If your transaction is part of a chain and one link breaks, it will delay everyone else's sale. Similarly, if your buyer gets cold feet or suffers an unexpected lifestyle change, you may find yourself back at square one!

Hopefully, you now better understand why selling a home in Knoxville can seem like it is taking a long time. If you want to make the process run more smoothly, work with a local real estate service like Wright Realty.

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Wright Realty is a full-service real estate concierge with a wholistic approach to buying and selling property in East Tennessee. We are your trusted advisor and keep open communication throughout your entire buying/selling process. Real Estate done "Wright" means more than just a 'transaction'.

Finding Your Property the "Wright" Way!

Visit www.realtydonewright.com or call 865-556-8599