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26
Quicker Sales result in Higher Profits for the Seller (5 of 10) Series
TIME IS MONEY AND MONEY IS MONEY (QUICKER SALE)(REDUCED HOLDING COST)(HIGHER RETURNS)- For most people and businesses we have heard the expression "time is money". If selling your home takes you away from any activities that would otherwise be a source of income for you, you are losing money by selling on your own. Average sales times for Owner Sold properties are generally longer; this may mean extra carrying cost, taxes, maintenance and losses in value for interest rate hikes. (Interest rates are a very legitimate concern in the current economic climate). In a market with escalating interest rates a 1% deterioration of the mortgage interest rate can mean as much as $12,000.00 Dollars of lost "buying power" for the Buyer, this works to devalue your home. Finally, leaving a home vacant for any extended period of time can be very problematic. Insurance providers may not insure a home that is vacant for more than a short time period. Maintenance issues tend to go unnoticed, potential for vandalism and theft increase and vacant homes may quickly become stigmatised by Buyers.