Selling Preparations
Depressed, delighted, apprehensive, hesitant, excited – the emotional roller coaster that comes with selling your home. You have decided to sell your biggest financial asset. There is a lot of work to do so it is important to keep these tips in mind.
1. Repair, Clean, and De-Clutter
Remember, the potential buyer’s first impression is important. They foresee themselves living in your home. Repair windows that won’t open and faucets with leaks. Clean like you have never cleaned before. Pay special attention to your kitchen and bathrooms. A newly painted house, a scented potpourri in each room, and fresh flowers will give a nice, warm, homey feeling. Make your home clutter-free. Potential buyers don’t want to see your mess. Put paperwork and other knick knacks in boxes and keep them in the attic or storage room. Excess furniture may be given away or sold. The larger the room space, the better. But don’t forget the outside of your home - The garden, the porch, the roof. Your potential buyer’s first impression is a big plus.
2. Be Aware
Be aware of what is going on in your area’s real estate market. Avoid losing money by understanding your area’s market condition. Check and compare the other houses in your area that have been recently sold and have these ready to show your potential buyers.
3. Hire
Hire a real estate agent who is an expert to assist you, answer your questions, and work to your satisfaction. Lack of negotiating experience will result in a lower selling price. An agent will guide you from the beginning to the end of the home-selling process and will work to get you the maximum value for your home.
4. Know
Know the best-selling seasons. If you have children it is best to consider when school starts.
5. Price
Price correctly. The most common mistake the sellers make is that they’re asking price is way too high. The result may be that your house will be on the market for a long time and buyers will think that something is wrong with it. It is best to talk to your agent. He will be able to give you a reasonable asking price. Remember price it right and it will sell. Price it too high and it won't.
6. Marketing
Marketing your home means it must be available to be seen even on short notice. Always keep your home at its best. Advertise by means of the “For Sale” sign in your front yard, it will encourage a potential buyer to contact you or your agent. Advertising through major and local newspapers will also help. Another major tool is an open house. An Internet exposure will also help, photos of the exterior and interior of your home are a must.
7. Choose
Choose your next home. Most buyers want to move in once the transaction is closed. So it is important that you have chosen a new home for your family.
8. Be Calm and Patient
Be calm and patient when handling buyers. Do not be upset if potential buyers make negative remarks. If you think you cannot handle this situation, let your agent handle it. Anyway, most buyers are comfortable looking at homes without the presence of the owner.
9. Evaluate Offers
If you have more than one offer, take time to analyze each. Negotiation is very common in the real estate market. When you receive an offer, respond to it so that an agreement will be reached. If you receive an offer below the asking price, it’s either you accept, decline, or make a counteroffer.
10. Close The Deal
Ask your agent to prepare a well-written document pointing out the terms of sale and rights and obligations to protect both you and the buyer. Sign contracts and have an attorney review and handle the closing. Once this has been done and your home paid for, turn over the keys and work on your next project – transferring to your new home.