Home Selling Tips
14 Home Selling Tips to Help you help you Land a Good Deal in no Time!
Selling a home is perhaps one of the most important events in a person’s life. For many, it means cashing in an investment. As a home seller, it is crucial that you know the basics. Even a small mistake can result in thousands of losses. Here are easy tips to help you effectively sell your home.
1. Know why you are selling. Determination plays a vital role in determining which course of action a seller needs to take. If you want to maximize profit, then you may invest a little effort, time and money towards improving your property before listing it on the market. If you need a quick sale, then you would probably need a different approach.
2. Don’t easily give away your game plan. The strategy by which you negotiate the sale of your house will depend on your reasons for selling. Don’t make that mistake of passing this info to any prospective home buyer. If a certain buyer knows that you are moving to another state, then you may be asked for a big hit on the asking price. If your selling motives are asked, simply tell them that your housing needs have changed.
3. Prepare your home for viewing. Stage your home for a sale. Make sure you do all the necessary repairs, landscaping enhancements and spruce up your home’s interior and exterior for an effective viewing. Scents and clutter kill deals quickly. Remove all unnecessary things and furniture from the house. You want prospects to see a big and open space inside your home. Get rid of any offending smells such as food, pet and smoking odours. Ask a friend or relative to take care of pets until your house is sold.
4. Don’t waste money in the wrong investments. While most home improvement projects raise the value of the property, not all of them are proven to be 100 percent recoverable during a sale. Do a careful research on which renovations can optimize returns. Try to get away with extreme architectural colors and styles. Use neutral tones since taste may considerably vary among home buyers.
5. Do a little research before setting an asking price. Sellers usually want more money from what their property is worth but they rarely land a deal with this. When a certain residential property isn’t priced competitively, buyers will end up looking for alternatives in the market. According to statistics, a typical home buyer looks at an average of ten homes before making a decision. A good way for you to set a value for your home is to look at similar properties sold in your neighbourhood and surround community during the last six to twelve months. You may ask the City Hall or your realtor for this data.
6. Seek the services of a good realtor. Find the best real estate professional that can help you land a higher selling price, shorter selling time and with the less hassles. A good realtor is someone who is knowledgeable on your local market, provides you information on his past sales and current listings and gives you references from past sellers. He or she should also provide you with a good marketing plan that will determine how much your home should be and why it should stay on that price range.
7. Disclose every bit of information about your house. If your house has defects and you don’t want a huge financial disaster in the future, disclose this relevant information to prospective buyers.
8. Never do hard core selling during showings. For many, purchasing a home is also an emotional decision. Buyers want to ‘try on’ a home and see how comfortable they are in it. However, this would be hard to do if the owner tails around them, pointing out each improvement. The key is to resist the urge talk for the whole time while buyers are in your house and let them see and feel things on their own.
9. Guard your feelings. Don’t let a prospective home buyer know how badly you need your house to sell or else you minimize your chances of bargaining a good deal. Keep a conservative and low profile façade and let him guess where you are coming from.
10. Don’t purchase a new one without using an escape clause when you haven’t sold your old property yet. Don’t close a deal for a new home when you still have mortgage payments on the old one. You don’t want to turn into this desperate seller who will agree to the first proposal that comes along.
11. Don’t move out from the house until it is officially sold. It is harder to sell a vacant home because it may look unappealing, forgotten and abandoned.
12. Never take low offers personally. If you get an offer that is below your asking price, don’t let this affect you personally. Evaluate your home for its worth and then counter back with a slight reduction in price.
13. Know and understand home seller’s rights and obligations. Real estate laws are complex and extensive. An erroneous contract may cause the sale to fall through or cost you a lot of money for inspections, repairs and corrections in title defects. Know which repairs are your responsibility and the ones for the buyer’s. Read every document before signing it. If you need further assistance, don’t hesitate to ask your realtor about such things.
14. Plan for an effective home staging. Home staging is becoming popular these days as more and more home owners are embracing the concept of displaying their homes for sale rather than the buyers appreciating the homey look of the place.
Selling a home needs a little patience and preparation before you can see your efforts paying off. Make your home selling experience stress free with the help of these tips!