They know what they are saying: there is no place like home! What Dorothy didn't tell you is that there is no selling like selling your house either.
Selling your home is probably the biggest sale you will make in your life. There are of course the emotional parts of selling. You need to say goodbye to a place that has housed you, that kept you warm, maybe even where your child took their first steps. Beyond the emotions, selling a home is an extremely thorough process – and one that puts a lot of money at stake.
Do you feel a little stressed? No fear; We are here to help. Read on for the ultimate guide to selling your home. We will discuss that Home selling and buying, Chat tips and tricks and tell you what not to do when selling your home.
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Timeline for the sale of your home
There are many steps that go into selling your home and a number of moving parts that you need to keep track of. Before we dive into selling your home, let's discuss a general schedule for selling your home and when you should try to complete each step.
6+ months before listing your home
Find a real estate agent: ask for recommendations, interview potential agents, and find the right choice for you
Make a list of pre-sale tasks: this will include any required repairs and minor renovations you might want to do before listing your home.
Set a List Price: You might want to double check this number later, but it's a good idea to get an idea of what your home might be selling for beforehand.
3 months before listing your home
Full repairs and minor renovations: Getting your home in tip-top shape before the demonstrations can increase the selling price
Get a Home Inspection: An inspector can warn you of any problems with your home. You can then decide in advance if you want to repair them or if you want to include them in the list price of your home.
Pack non-essential items: this way, you can keep them out of the way for demonstrations.
1 month before listing your home
Thoroughly clean: Nothing holds a potential buyer off like a dirty home! Give your home a good thorough clean.
Stage: time to make your home at its best! Create a warm and welcoming space that will appeal to all types of buyers.
Photo: Work with your agent to get beautiful, well-lit images for advertising.
Check your list price again: take another look at your list price. Have there been market fluctuations? If so, adjust your list price accordingly.
1. Find a real estate agent
The very first step in selling your home is finding a real estate agent. The real estate world is packed with realtors taking the opportunity to sell your home. Some advice: don't go with just any real estate agent. If you want a successful home sale, you need to find a strong real estate agent. Here is what to look for at a broker::
Ask for recommendations in your area
The first thing sellers do when looking for a real estate agent is to get recommendations from friends and family. Who sold your house? How did it go? Would you work with them again?
Referrals are useful, of course, but they don't put an end to your search for a real estate agent. Not only is it important to find a good real estate agent, but also one who is very familiar with your area. The agent's job is to know the specific market you are in and to find your way around that market. Prefer advice from trusted neighbors over advice from friends and family members who live far away.
Treat the first meeting like an interview
Have you found out by now? What you look for in a real estate agent is experience. You want an attentive and responsible real estate agent with a proven track record of selling homes near you. There is no better way to learn about a real estate agent's experience than to ask.
Treat the first meeting with your prospect like an interview. Ask questions like:
How many houses have you sold in the last year?
How many houses did you list last year?
How many houses have you sold in my area?
How close to the question do your homes usually sell?
Learn How They Market Your Home
When it comes down to it, a real estate agent's job is marketing. If you want your home to sell on time and at a good price, you need a real estate agent who is knowledgeable about marketing. Ask your potential agent how they intend to market your home, what types of materials they use both online and offline, and how much they intend to spend on marketing.
Be wary of agents who promise a price
If an agent ever tries to tell you exactly how much your home is being sold for, they are not the agent for you. A real estate agent simply cannot guarantee or even pinpoint a sale price – unless he plans to buy it himself.
An honest real estate agent can give you a price range that you can expect your home to sell for and back it up with comparable sales in your area. An agent who tries to give you an exact number is untrustworthy. Don't work with them.
The central theses
Ask for recommendations for brokers who specialize in your area.
Treat your first meeting with a realtor like an interview.
Ask detailed questions about how a real estate agent can market your home.
Be wary of agents who promise a sale price.
2. Determine the value of your home
After you've secured your real estate agent, it's time to pick a list price for your home. Determining the selling price for your home can be one of the hardest steps in selling your home.
For you, your home can feel like a living breath object. It's a place where you've grown, made memories, and so much more. If you have a sentimental bond with your home or have put significant work into your home, you can overestimate that.
To a buyer, the value of your home is much more objective. A buyer sees your home in its current condition. They don't know what it looked like before, how much work you put in, or how wonderful it was for you and your family. You are much more focused on the physical features of your home. How many square meters? How many bedrooms? Does it need to be renovated? What are the prices for similar houses in your area?
If you want to pick a competitive price for your home, the first thing you need to do is ask your agent for a competitive market analysis. This report gives you a clear picture of how your home compares to similar homes in your market and shows you what those homes were sold for. You can then work with your agent to choose a price that is both competitive and feels right to you.
3. Set up a pre-sale inspection
Home inspections are a common tool that buyers can use to verify the health of their potential purchase. As a seller, you can almost guarantee that every potential buyer will call in a home inspector. Our advice is to hit her and give one a call first.
You may think this is crazy. Why pay for an inspection yourself when the buyer is doing one anyway?
Our answer is: Here is a common step when buying and selling a home. A buyer makes an offer for a potential home. Before taking any further action, send a home inspector to look for any concerns. The house inspector finds a massive red flag. The buyer withdraws. The deal is over.
Instead of risking an unpleasant surprise, bring a home inspector with you before listing. The house inspector will inform you of serious problems with your home. You have the upper hand now. You can choose to fix the problem or include the repair cost in the price of your home. Potential buyers see you as a trustworthy seller and are more likely to go through with your home purchase.
4. Get your home ready for potential buyers
There is no getting around it: The staging of your home can be intimidating, but it is crucial for a successful sale of your home. The staging is especially important if your home is being offered for a relatively low price. It's not particularly common in less expensive homes and can really make yours stand out.
By staging your home intelligently, you can create an inviting and engaging space that highlights the best features of your home while distracting attention from the less desirable. To do this, use the tips below.
Clutter is the number one enemy of successful home staging. Confusion makes rooms look small and cramped. Reduce yourself to the essentials in every room so that the room looks livable and remains open. Learn more about the Advantages and disadvantages of downsizing.
Go for neutral
Regardless of your taste, you want to opt for a neutral style when staging your home. Paint the rooms cream or beige, choose furniture in neutral colors and avoid overly stylized parts. The neutral design ensures that your home looks cozy and leaves room for buyers to imagine their own items in your home.
Put away personal items
Your home is likely to be full of personal keepsakes, whether it's family photos, artwork for kids, and more. When setting up your home, it is a good idea to put these away. Remember, the goal is to create a space for potential buyers to see each other. The more items that are specific to your family, the less they will be able to see theirs.
Don't forget the outside
When staging a home, it is common to focus on the inside and completely forget about the appeal of the curb. Remember: the first impression is everything! The outside of your home is just as important as the inside. Beautify your home Using a good power wash, repaint anything that is shabby or faded and find new plants for your planters and flower beds.
The central theses
Eliminate noise in your home to make the space feel bigger and highlight the best features.
Opt for neutral colors and furniture. anything that is particularly stylized should be put away.
You should also put away personal items such as family photos or children's works of art.
Don't forget to clean and freshen up the outside of your home.
5. Show your home
It's showtime! Once your agent has your home listed, the real fun begins. They take care of bringing buyers to your home. Your job is simply to survive the demonstrations. Here is how.
Pay attention to the cleanliness
Your house has already been thoroughly cleaned and tidied up. Your first task during the entire duration of your demonstrations is to keep your home clean. Before each performance, clean your home, make sure high-traffic areas like the kitchen and bathroom are in full swing, and stow away personal items like pet items, shoes, and more.
Ramp up the lights
While it feels a bit strange, it's a good idea to turn on every light in your house and open all the curtains and blinds before a performance. A well-lit home is not only more welcoming, but it also allows potential buyers to see your home clearly.
Set the mood
Another effective way to make your home warm and inviting is to set the mood. Turn on soothing music, start a fire, and put out a nice bottle of wine. If you have a hot tub or water feature, let them bubble. The idea is to create a space that just feels irresistible.
Add a personal touch
It is best if you are not there during the demonstrations. You want buyers to feel comfortable exploring your home, and often a lingering homeowner can make a visitor feel intrusive. Even so, it's always nice to add a personal touch in the form of a thank you letter and some snacks or treats. After all, you want buyers to feel comfortable doing business with you!
The central theses
Before each performance, do a last minute cleaning and tidying up.
Open the blinds and curtains and turn on all the lights.
Set the mood with music, a fire and a bottle of wine.
Leave a note and a reward for potential buyers.
6. Negotiate the price
Congratulations! You have received your first offer. you're almost there now it's time to negotiate.
Push back with your list price
The negotiation process typically goes like this: you've set your list price, a potential buyer is way below demand, and in response you counter with a price that's lower than your demand. Instead of doing this, counter again the first time with your suggested price.
Here's why: You have offered your home competitively priced right from the start. A good buyer with a good agent will see that. You are probably ready to get much closer to the question of whether you are claiming yourself. If they keep bringing you down, it may be a sign that they are not worth negotiating with.
Use multiple leverage offers
If you are in a seller's market and your home is competitively priced, you are likely to receive multiple offers. This is a great situation. Use these offers as leverage to ask for more. Let potential buyers know what to expect and see if they are ready to improve their offer.
Negotiating can feel intimidating, but it's important if you're looking to get a good deal for your home. Remember that your agent has conducted many, many negotiations in the past and you should use this as a resource.
7. Conclude contracts
Remember that a sales contract is not just about price. There are many different factors that go into a contract and none of them should be overlooked. In addition to the purchase price, please note the following:
Trust period: how long is Crooked? It depends on if your buyer is paying Cash for the house.
Contingent Liabilities: Are there any terms your buyer will have to wait for before completing the purchase? This could include securing funding, the results of a home inspection or appraisal, or selling your own home.
Closing costs: How will you split the closing costs? Learn more about This will save you closing costs.
The total cost of selling your home
Many factors are overlooked when calculating the cost of selling your home. Many home sellers consider their agent's cost to be the cost of selling their home, but the truth is that it is significantly more. As a rule, you can expect to pay around 10% of the sales price when you sell your home.
This is how it all collapses:
Brokerage Commissions: Typically 5-6% of the selling price of your home. This makes up the bulk of the cost of selling your home.
Home Inspection: While this depends on the size of your home, a home inspection typically costs around $ 300.
Repairs: Again, this will depend on the results of your home inspection and the number of repairs you plan to do before selling. However, the average home inspection revealed $ 11,000 in repairs.
Staging: Budget around $ 2,000, but scale if your home is particularly large.
Closing costs: Usually 1-3% of the selling price of your home.
Common Mistakes To Avoid When Selling Your Home
If you've followed our guide, you shouldn't make any material mistakes selling your home. However, here are some common mistakes buyers often make when selling their home.
Getting Too Sentimental: Ultimately, selling a home is a transaction. If you are unable to put your emotions and feelings aside when selling your home, your home sale can go wrong quickly.
Opt for a cheap broker over an experienced broker: be wary of brokers who offer extremely low prices. An agent who charges dramatically low commissions may be desperate for customers or prefer quantity over quality.
Do without an agent entirely: ask how to sell your home without a realtor? While you can sell your home yourself, this is not a recommended strategy. A real estate agent is an added expense, but it's worth it. Enlisting the help of an agent can likely get your home cheaper and save yourself a lot of stress.
Skipping Serious Issues: Approach the sale of your home with the expectation that your buyer will have a pre-purchase inspection done. If you know of any problems with your home, let the potential buyer know. In any case, your inspector will find out. If you don't tell them, you will look like a seedy salesperson and risk losing the sale.
Selling in winter: did you know there is one? best month to sell a home? Conventional wisdom is in spring. Whatever you do, don't sell in the winter.
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