Taking your home off the market isn’t an easy decision.
Here are six signs it’s time to consider taking your house off the market, and why it might be wise.
You’re getting only lowball offers—and you’re not willing to negotiate Hopefully, you listened to your real estate agent’s advice when setting your list price. "If your house is still for sale after a month, buyers are going to assume something’s wrong with it,” says Seth Lejeune, a real estate agent with Berkshire Hathaway in Collegeville, PA.
“Luxury homes sometimes take longer to sell, because you need a specific type of buyer, but luxury home sellers are generally not under time pressure to sell,”says Jane Peters, a real estate broker and owner of Home Jane Realty in Los Angeles.
You discover a problem in the home that needs to be fixed Many purchase agreements have a home inspection contingency, which gives buyers the ability to walk away from the sale (without forfeiting their earnest money) if they find there are issues with the house that the seller isn’t willing to address.
You have to make a home improvement Sometimes, homes just don’t sell because they can’t compete with other comparable homes that are on the market.
When there’s a glut of homes for sale and buyers are flooding the market, this creates a buyer’s market.
Note: Today, it’s a seller’s market in most major U.S. cities, but there are markets where buyers have the advantage.
Taking your house off the market while you look for one, and canceling the listing agreement with your agent, would give you time to find a real estate expert that’s right for you.