Keeping Properties on the Market: Is Your Asset a Liability?

Keeping Properties on the Market Is Your Asset a Liability

It’s a question that plagues home sellers everywhere – how long is my property going to stay on the market?

It’s such an important question for many reasons. The seller has to keep insurance on the home the entire time it’s on the market (and often has to pay vacant home insurance which is a lot more expensive!). The seller has to maintain the property and pay various utility bills, and basically keep the property in good condition throughout that time frame that the property sits there for sale.

So regarding the average property time on market, it’s an absolutely important question in any home sale, and some of the answers are, to some sellers, a bit unsettling

National Averages

According to Zillow, the average time that a property sits on the market is from 65 to 93 days. That’s basically 2 to 3 months. If those are summer months, that’s enough time for your landscaping to get entirely out of hand without a routine maintenance and mowing service. If it’s wintertime, that’s enough time for a winter storm to come through and do damage to your property.

Simply speaking, 2 to 3 months is just an untenable situation for some sellers. They need to get that deal done to get out of the property and on to their next home or adventure. They can’t manage having the property sit there vacant for 2 to 3 months.

Market Conditions in Charleston, South Carolina

Those are the national averages, but as you can see from local statistics, average days on market for some beachfront communities and others around Charleston run much longer, up to around 160 days …that’s the better part of half a year!

If all of this sounds frightening, call Oakwood Capital. We make direct cash offers on properties at fair market value, and help sellers to get a deal done quickly to minimize your risk and leave more money in your pocket.

If you need to make the best quick home sale in Charleston, it makes sense to talk a little bit about alternatives to the traditional real estate market where the seller is represented by an agent. A real estate agent finds you a buyer, which can take months, and pockets 6% of the entire property value – that’s a lot of money and can be more than the margin of profit that you would get from equity in your property. It’s a sad state of affairs when you live in a home for years and come out underwater because of real estate agent commissions.

Call Oakwood Capital and get around all of that, with a straight cash offer that you’ll love. There’s no obligation, and you can get started online at our website. Find out more about how it works and hear from other satisfied customers who have been able to save money doing the property deals with Oakwood.

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