The Ultimate Guide to Selling Your House
Selling your house can be emotionally challenging and time-consuming. There will be strangers coming to your home and poking around in your cabinets and closets. The place you’ve called home for years will be criticized by prospective buyers. Some will offer you an amount less than what you think your house is worth. With an emotional and complex transaction to handle with little or no experience, you can easily make mistakes. To avoid this, follow this ultimate guide to selling your house.
Time Your House Sale
Several factors should determine whether it’s the right time to sell your house. These include the condition of the house, the current market, and how easily you can reach the right prospective buyers. If your house is ready for sale, it can take one week to clean and take photos. On the other hand, a house that needs weeks to work on the landscape, repaint, and repair the roof, can take longer than this. Consider how your personal needs and external factors will affect the total timeline to determine whether it’s the right time to sell the house.
Work with a Real Estate Agent
A professional real estate agent will help you sell your house quickly and at the best price. This expert will educate and support you throughout the house sale process. It’s however important to choose an agent with a realistic and a tactful approach. The best agent will highlight the drawbacks of the house and its selling points. This will help you prepare the house for sale.
Prepare the House for Sale
Talk to your real estate agent about the necessary updates and repairs. A good agent should point out repairs and minor tasks that can attract more potential buyers and increase the chances of selling at a higher price.
However, bear in mind the fact that not all repairs are worth making. Some repairs can create the impression that the house has not been taken care of properly. Cracked tiles, leaky faucets, and broken doorbells can be a red flag for potential buyers. It’s also wise to consider less expensive repairs. For instance, you can repaint cabinets instead of replacing them. You can also polish wood floors instead of refinishing them.
Decide the Asking Price
After making all necessary updates and fixes, decide on the asking price of the house with the help of your real estate agent. Instead of going by what you think your home is worth, use real estate comps. Comps stand for comparables. These are lists of houses sold recently with characteristics similar to the one you are selling. Usually, the lists comprise of houses sold over the last 12 months. Comparing these houses will enable you to determine the potential sale price for your house.
List the House for Sale
Choose a reputable listing agent to help you put the house on the market. Staging a home for sale is a challenge for most sellers. This entails making the major parts of a home appeal to more potential buyers. These include the living room, the master bedroom, kitchen, and the master bathroom. Home staging can also involve moving furniture to a rental storage unit. It can also involve de-cluttering and moving furniture around, as well as, depersonalizing the house. A good listing agent will help you with all this.
Take and Negotiate Offers
You are likely to receive offers from different prospective buyers if the house is in a popular neighborhood and the demand for its price range is high. It’s important to consider each offer separately instead of choosing the bid with the highest price. A cash offer, for instance, can be better than an offer with financing though the price might be lower. That’s because a cash offer makes closing faster.
Before accepting an offer, negotiate to ensure that the deal is in your favor. Countering an offer is not always about the sale price. You can take on closing costs for the prospective buyer, make repairs, or adhere to the buyer’s needs. The most important thing is to avoid dragging out negotiations for too long because this can scare buyers away. Nevertheless, most buyers are open to tweaking their deals.
Before or on the closing day, your agent and the buyer will walk through the house to ensure that the agreed fixes were done. You will also sign several documents regarding the property ownership transfer. Just like staging a home for sale requires the help of a professional, you will need assistance from an attorney when closing. Your attorney should check all documents before you sign them.
Follow this guide to sell your house fast and at the best price.