Home Selling Tips
Selling or buying a home is probably the biggest financial transaction of your life and takes careful consideration. Selling a home can be an emotional experience when you have a lot more than money invested in your home. But detachment is something you should strive for, especially when the market favors buyers.
Selling your home on your own can be scary. Most home sellers want a quick sale so they can move on with their lives. But often, homes sit on the market for months. Here are some tips that help you out to make a wise decision.
1. Decide whether to sell your house with an Agent or on your own. If you decide to go with an Agency, find an Agent in whom you can have confidence.
2. Set Your Home Selling Price your agent will analyze the price of other comparable homes that have recently sold in your area as your starting point. It is critical to set the right asking price. You don’t want to feel you sold for too little, but an overpriced home can languish on the market and go stale.
3. Over-pricing when you sell a home reduces buyer interest, makes competing homes look like better values, and can lead to mortgage rejections once the appraisal is in. If you set the price of your home at 5 to 10 percent above the market price, you are likely to end up with an offer close to your home’s true value.
4. Develop an effective advertising and marketing plan. Your real estate agent should be associated with multiple listing networks.
5. The MLS listing is the first introduction to your home for all potential buyers. An MLS Listing includes 9 photos of the listed property which evaluate the size of your home. It is a complete profile of your home, both inside and outside measurements and facts.
6. Updating your home is a wise investment. Make sure to focus on necessary renovations. Consider problems like dry rot, termites, asbestos, septic problems, or a new highway slated to run nearby. Take care of small items like a broken dishwasher or cracked tiles, so they don’t become a negotiating point for the buyer.
7. Make a good first impression on buyers with a neatly maintained yard. Walks and steps should be kept clear as Presentation is everything! Home buyers are attracted to clean, spacious and attractive houses.
8. Maintain records of all home improvements made to your house. These will be essential at tax time.
9. Hiring a lawyer will protect your interests throughout the entire transaction. An experienced real estate lawyer can help you evaluate complicated offers act as an escrow agent to hold the down payment, evaluate complex mortgages and/or leases with options to buy, review contracts and handle your home’s closing process. They can also tell you what things, by law, you must disclose to buyers prior to a sale and can also help you avoid inadvertently discriminating against any potential buyers.
10. The mortgage lender will order an appraisal of your home to make sure they are not paying more than the house is worth. They may also order a surveyor to make sure that the property boundaries are properly laid out. They will also order a title search to determine if there are any liens against your property. These tasks are all the responsibility of the buyer and/or their attorney.