You may be no stranger to the homebuying process. Your home in Apple Valley Lake may not be your first. But you might be thinking of buying another home, perhaps upgrading to a new vacation home and so you’re letting go of the old one. You might be wondering, “How do you sell a home in Apple Valley?"
Selling a home in Apple Valley OH involves a series of processes:
1. Verifying your readiness to sell your home in Apple Valley OH
2. Identifying your home’s estimated sale value, sales costs, and your target net proceeds from the sale as well as the current market situation
3. Weighing your options on how to sell your home
4. Preparing your Apple Valley home for sale
5. Reviewing offers and negotiating your terms
6. Closing the sale
In this article, I’ll share with you an overview of each step of the home selling process.
Verifying Your Readiness To Sell Your Home In Apple Valley
Before making the big decision to sell your home, you need to ask yourself the following:
- Am I emotionally prepared to leave my home, hear buyers’ comments about its flaws, and negotiate objectively?
- Am I equity positive? Is my home worth more than what I owe?
- Am I in a financial position to buy a home that suits my needs? (If this is my primary home)
- How much time and effort can I commit to selling my house?
You might need to take time in thinking about your response to these questions. It is much better to do so than deciding suddenly and then finding out later on that you didn’t want to sell your home after all. You also need to be emotionally ready to face the challenges that come with home selling.
Identifying Your Home’s Estimated Sale Value, Sales Costs, And Your Net Proceeds From The Sale As Well As The Current Market Situation
A free online home value estimate can give an idea of how much your home is worth. Knowing your home’s estimated sale value helps you to price your home right so that you get the most from the sale of your home. Also, because your home is not priced too high, it will not stay long on the market.
The next thing you need to identify is your home’s cost of sale. The sale costs consist of the following:
- Around 6% of your home’s estimated sale price as your real estate agent’s commission (percentage rate varies depending on your area and the agent you’ll work with)
- The remaining mortgage that you still owe on the property
- Applicable taxes
- Utility costs
- HOA fees
After that, you can compute for your net proceeds from the sale by subtracting your home’s sale cost from your home’s estimated sale value.
Knowing the current market situation will also help you to strategize on pricing your home competitively and selling it at the right time. The top real estate agent in Apple Valley Lake can provide you with detailed information. She can help you analyze whether you’re in a buyer’s market (where homes prices are very competitive and there is a possibility that the value of your home could go down) or a seller’s market (one where there are a lot of buyers and little inventory which can result in home prices going up).
You also need to evaluate your timeframe. Sometimes, an unexpected turn of events can be the main factor in selling your home in Apple Valley. If your priority is to sell your home within the shortest possible time, you might not be able to wait for a better deal when a suitable offer comes along. On the other hand, if you have a longer timeframe, you can be in a position to negotiate for a better price for your home.
Weighing your options on how to sell your home
There are three options when selling your home:
- For Sale by Owner (FSBO) Option
- Selling to an Instant Buyer
- Hire a Real Estate Agent
Knowing the advantages and disadvantages of each option can help you better decide on what will fit you best.
In FSBO, you’re doing all the heavy lifting on your own. You don’t have to pay any commission so it would seem that you’re getting more from the sale of your home. Also, since everything depends on you, you can price your home the way you want, schedule showings based on your availability, and put in as much or a little effort as you want in staging your home.
However, in a study done by the National Association of Realtors (NAR), homes sold via FSBO sell considerably less compared to homes listed with a real estate agent. Another disadvantage of the FSBO route is that you might be too attached to your home and might end up overpricing it. You might also overlook the necessary measures needed to spruce up your Apple Valley home since you are so used to it.
Another option would be to sell your home for cash to an instant buyer. This can be an attractive option if you need to sell your Apple Valley OH home in a very short timeframe. You will also be selling your home on an as-is basis. This spares you the hassle of having to do home repairs, home preparations, stagings, and showings.
However, the downside of selling to an instant buyer would be having to sell your home for less than it’s really worth. Instant buyers are mostly investors who will either flip your home or rent it out. Their priority is to maximize their investment so expect their offer to be lower than your home’s actual value.
The last option is to work with an experienced real estate agent. Hiring a real estate agent to sell your Apple Valley home has a lot of benefits. You don’t have to deal with complex paperwork and your home is marketed on various social media platforms. Also, you get expert advice on how to prepare and stage your home. Finally, they negotiate offers so you get the best deal for your home.
Preparing Your Apple Valley Home For Sale
Here are three important things to remember when prepping your home for its big market debut:
- Fix and repair only the things that matter most to buyers. Prioritize must-fix items, such as structural defects, faulty heaters, and leaky pipes.
- Clean, organize and declutter EVERY room of your house. Even before the house is listed, it is advised to start the process early on. Toss or donate items that you haven’t used in ages. The lesser items you have in your home for sale, the more attractive it will be to buyers.
- Stage your home to attract buyers. Showing your home in its best light with carefully selected accents, furniture, and decor doesn’t have to be costly. Let in as much natural light as possible, and make your front yard and entryway appealing.
Check out this article for more details on how to make your home stand out from the competition.
Reviewing Offers And Negotiating Your Terms
After you’ve prepped your home, priced it right, staged it beautifully, and leveraged different online marketing platforms, expect the offers to roll in. However, reviewing multiple offers and choosing the best one are easier said than done. It is best to work with an experienced agent who knows the nitty gritty details of each offer. She can guide you to make the best decision.
You also need the expertise of an agent to negotiate with buyers, file the necessary paperwork and make sure that there are no issues related to the deed.
Closing the sale
You’re almost at the finish line! As you close the sale of your home you also need to work more closely (pun intended) with your agent. You will need her to help you review the closing documents and coordinate with the buyers as you transfer the ownership of your home.
Indeed, selling a home in Apple Valley can be complicated and overwhelming, especially if you do it on your own. When you’ve decided to work with an agent in Apple Valley, be sure to look for a 5-star rated, award-winning Ohio lake agent. You will benefit from her Ohio Lake Home real estate experience and expertise, giving you an advantage when selling your home.
Call or text us, Joe and Sherrie Toth of RE/MAX Consultant Group | Apple Valley Lake at 740-390-0735, so we can assist you in finding the best deal for your Apple Valley home.