I recently read a great article by David Crook about selling a home on July 14, 2008 in The Wall Street Journal Online. He gave seven points to remember when a homeowner needs to sell their home.
1. It isn't worth trying to wait out the market or to time the market.
2. Don't spend a lot of money on big-ticket renovations but do make sure that everything is in good repair. It won't necessary increase your price but it will help attract buyers.
3. Price your home cheaply. Forget what you THINK the house should be worth or what it was worth three years ago. You must set your price below comparable nearby properties. Look at the asking price of other comparable homes and set your price to beat them.
4. Hire the best, more aggressive listing agent you can find regardless of their commission.
5. Promote the property. The listing agent should pay for the usual marketing costs but oftentimes the seller may need to pay for additional marketing if required.
6. Play the banker. Consider seller financing if possible.
7. If any qualified buyer comes in with a reasonable offer, be prepared to accept it without countering.
To see the entire article you can go to
http://online.wsj.com/article_print/SB121553612650836199.html
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