You might be excited by the prospect of selling your house and moving on to bigger and better adventures, but then the whole idea of actually selling your house may be a little overwhelming. There’s a lot to be done to secure the most return on your investment when selling your house. Here are six steps for successfully selling your property.
1. Hire a professional real estate agent you can trust. Your agent should be an expert in the type of property you’re selling, and should be familiar with all the nuances of your neighborhood. Your real estate agent should have clear communication skills. If you’re uncomfortable in your first conversation, that’s probably an indicator that you’ve not yet found the right agent. Consider working with the agent who sold you the property if possible because you already have a rapport, but if that’s not possible, interview several agents until you find the right one for your needs. Ask about the exit strategy in case you need to replace the agent after a period of time. Some realtors have clauses built into their contracts to prevent you from terminating the relationship prior to a certain date.
2. Price your home properly from the start, leaving room for negotiations. Your real estate agent will provide you with a CMA, a Comprehensive Market Analysis, which will give you a solid idea of what buyers are willing to pay in your area for houses that are similar to yours. You may also decide to check your property tax statements for an estimation of your property value, use an online valuation calculator for an estimate of what you’re home might be worth, and get out in your neighborhood and look at the other houses for sale to see how yours compares. You don’t want to price yourself out of the market, and you don’t want to sell yourself short, so price effectively with room for negotiation.
3. Stage your property. Staging is one of the most important things you can do to prepare your property for market. Staging means that you clean, repair, replace, and arrange your property so it’s attractive to potential buyers. Staging covers the inside of your home, and the outside. Clean first. Then minimize – pack away or eliminate anything you won’t be using for the next 60 days. Remove any personal items like photos, political paraphernalia, collections (like salt and pepper shakers), and neutralize the space with soft, warm colors. Remember to clean under the sinks, in the cabinets, cupboards, closets, and drawers. If something is broke, fix it! Your home will undergo an inspection which will reveal broken or malfunctioning areas in your house, such as roofing, air and heat, water heaters, and other major appliances. If carpets are stained and torn, replace them, and if necessary, add a fresh coat of paint to brighten things up. Make sure your yard is manicured, free of debris such as trash, toys, and ornaments.
4. Be security conscious. Remove any valuable items or weapons from your property and store them in a secure location. You may also wish to remove your pets during home showings and open houses as potential buyers may be allergic, may be irritated with pet behavior, or worse, your pets may be confused and agitated by the activity from strangers in their house.
5. Your house, once an offer is accepted, will undergo an appraisal to make sure you house is worth the amount the buyer is borrowing, and a home inspection to make sure the property is in good condition. Remember, you should have everything in good order during the staging process. If you don’t, any faulty items will be disclosed here and could cause delays or furthered negotiations in your selling price.
6. The final stage is closing, at which point the title changes from seller to buyer, all professionals involved in the transaction, such as lending agent, appraisers, inspectors, and real estate agents get paid. By this point, you should have all of your belongings removed from the property because you will not be able to return after the closing, unless otherwise negotiated in writing in your contract.
Call Real Property Solutions at 504-237-2942.