Many home buyers have regrets after they buy their new home. Similar thing happens when seller trying to determine whether to sell their home. Many sellers ask themselves what if? Would it be better to wait to sell? Should I negotiate differently? Should I make more improvements to my property? With a lot of money on the line and having little experience selling a home, you may want to pause and do some research before selling a house. Following are some home selling tips:
Determine if you ready to sell – Selling your home is both a financial decision and emotional experience. This probably was the largest investment you have made to date, and it has created many lasting memories which will be remembered for a lifetime. Prior to making the decision to sell, need to reflect on memories, and how the home has served you. Be prepared to deal with anxieties and apprehensions you may have when letting go of the home. Once you have made the final decision to sell be prepared to negotiate with buyers who will give you negative feedback. Finally, when you accept an offer and sign a contract, it is very advisable to go through with the sale.
Hire an agent that is a good match - Where you live, probably there are many real estate agents. Remember not all agents have the same experience. Your challenge is to find a great match for your needs and desires. The agent that helps your friend or coworker may not be a great match for you. Selecting the right agent will make a difference in your home sales experience.
Financial strength – If you are confident about selling, then determine your financial status. Hopefully, there will be sufficient funds from the sale of the property to realize a profit after paying the closing selling cost. If not, you will need bring money to the table to cover fees. Prior to selling have your realtor develop a good faith estimate based on your situation. This estimate should consider selling expenses which includes commission, taxes, outstanding balance owed on your existing loan, and estimated selling price. Normally, total selling expense will run between 6 and 10 percent of home’s sale price.
Prep work prior to putting home on market – After the sale of their home, many sellers wish they had given themselves more time to get their property ready for market. Once on the market, days on market count rises. Longer on the market, potential buyers start wonder if there is something wrong. Then buyers tend to make low-ball offers. Therefore, it is important to make your property presentable. Remember, it is not necessary to make massive renovations. Make sure you declutter, eliminate odors, organize closets, and clean. This will add additional thousands of dollars to your sales price.
Curb appeal - First thing seen by buyers is the outside of the house. Make sure the lawn and house look great. If it does not look great, buyers will tend to drive away and that will cause seller to lose dollar value. Great curb appeal is a “wow” factor that makes the buyer want to see what is inside. What improves your curb appeal is: basic yard care, remove dirt, grime, and cobwebs, trim trees, and shrubs, have fresh mulch around trees and shrubs, recent coat of paint on house and front door.
Staging Home – After cleaning and decluttering the house, now it is ready to be staged. Staging is showing off the house space in best possible light. This means using art, furniture, and photos to accent the house. Staging will most lightly increase the sales price. This allows the potential buyer to view how space can be used and increases the chance the buyer will fall in love with the house.
Prelisting inspection – Some people recommend getting this inspection prior to putting your property on the market. In my opinion, there is pros and cons for incurring this expense. If you think you may have some serious problems, it may be worth the expense to get another opinion.
Photos – Photos are normally first thing a potential buyer sees when searching for a home. Therefore, it very important that you have professional quality photos and a virtual tour. Also, photos will reflect the hard work you have done in getting the home ready to put on the market. Great photos will many times help the home sell faster which may reduce your expense when selling. Finally, don’t have photos that are done up too much which does not reflect the actual house.
Listing price – Do your research and set a well-research listing price. The biggest danger is over price your property. This lightly will lead a delay in getting your home sold. In the end, you may receive less dollars than if had been properly price it in first place. The seller must take their personal connection out of the home because this will cloud their judgement when pricing. It is important to have comparable sales that support your asking price.
Partner with your agent – As a seller, you need to listen to your agent as opposed to only doing it my way. That doesn’t mean you have to agree with everything he recommends, but you need to establish a good working relationship. If you go into the relationship with an open mind there is better chance you will end up with a better deal. Remember your agent chose to work with you as much as you chose to work with the agent. As far as communications between seller and agent, recommend at least once a week feedback, news, activity, and market updates. Having quality agent/client communication, the less likely problems will develop.