Selling Your House? Here is The Do’s And The Don’t
Home Value The Right Way
Here is the do’s and don’t to give you a guideline and a comprehensive starting points, from home value to showing, to closing. Before you decide to put your house on the market, and regardless of which way you choose to sell your house, one of the most important steps to take is to find out the right home value for your house. The right price of your home will help you plan ahead and get more clear pictures of the steps to come and the timeframe it may take to sell, the net proceeds, and the right price to list your home. If you know how much your home worth, then you would know what is the right list price is to get the right offers.
Some Of The Mistakes You Need To Avoid
When it comes to the sale of house, there is a huge competition, just like anything else, and in order to achieve your goal of selling your house successfully with the right home value, your house needs to stand out from the competition. For example, If you are selling your house in Tucson, and the inventory is high, that mean there is a high competition for multiple reasons, some of which, is there are a lot of options for potential home buyers to choose from. This is because being in a popular city and which receives hundreds of thousands of tourists a year, regardless of the season of the year, makes it a place in which many people want to live.
What Not To Do When Selling Your Property
Show the floor with damage: whenever you are going to show a flooring, make sure it is clean, if improvements or repairs are being made, it is better to wait until it is clean and finished. If you show a house with damaged floor, those interested can insist that it be given for a much lower price than we ask. One of the things that home buyers look at when touring a house, is flooring. Make sure it is clean, repaired if it has damage, or if the buyer asked about the flooring, you can disclose what has or would be done about it should they bought your house. Make sure to include anything you agree with the potential buyer in the contract. Simply put, if you have damaged flooring while showing your house to sell, try to repair the damage if possible, and if your flooring doesn’t have damage, make sure it is clean and representable. Flooring is one of the first things potential buyers look at when entering your house, and that give them first impression. The last thing you want when selling your house is to lose a potential buyer because of something simple and easy to control.
Set a high sales price: as we all know, it is very easy to access information regarding your house’s value, and many sites including Reacasa offer free home evaluation. So, the most important thing is to set the right price for your home. That being said, if you price your home lower then the market value, in most cases you will have multiple offers, and the market will bring the price up to the right actual home value. But, when you price your home higher then market value, what could happen is that, the buyer’s agent would check the price of your home, and represent it to the buyer, and buyer may, or may not agree to put an offer on your home. That might happen without you knowing as people search homes on the internet and conduct research before giving offers. In case that you got an offer on your house and your house was priced higher then market value, buyer went ahead and gave you an offer, you accepted the offer, the lender always evaluate the property and doesn’t lend or fund the money above market value. What that mean is that you could go through the motion only to watch the deal fall through after long time of preparation, and hard work. It is important to note that when selling your house is to do as much research as you can regarding the market condition, your neighborhood, market price and most importantly, hire the right agent to make sure you getting the max value and minimizing the timeframe of selling your house, and getting the best result. In simple words, give a fair price that can be negotiated and that of course does not represent losses for you. In the negotiations, what is sought is that both parties are satisfied with the results.
Rejecting offers immediately: Offers that people make while buying a house should never be rejected, until they have been properly studied, and your agent should provide all the help needed with the data and research before rejecting any offer. Although some offers shows that some buyers are interested in the house at the begging seems insufficient, but first steps should be, is to it thank, and respond in a cordial manner. mentioning that we take all offers seriously and into account. After the kind words to the interested home buyer, you and your agent should study the offer and conduct the necessary research to decide if it is best to move forward or move on regarding the presented offer.
Don’t make small repairs: The details are exactly what people pay most attention to when buying a house. Faucets in poor condition, bathrooms that do not work well, hot water that does not come out, all these things are very important and that people always take into account when they are interested in buying your house. Make sure to keep everything working properly during the house sale timeframe. Last thing people want when buying a new house is to start repairing the house, instead of settling and enjoying their new home. If your house needs repairs, make sure they are done properly by professional. Here are some of the reasons, if people saw a patch on the wall for example that is not done properly, they might wonder if there is something else they could miss that is not done properly and will cost them time or money down the road. If you are not willing or can’t do proper repairs, make sure that you are disclosing the issue and include that in the negotiations.
Not having proper marketing and advertising: One of the biggest mistakes is staying with a one channel, it is important that we make use of all the alternatives so that people know that we are selling a house. More the number of people know about the sale, the greater will be our ability to sell it. What is not shown is not sold. Even if that means you market your property along side your agents with other available resources like Reacasa list your home.
Not being available to interested people: One of the most terrible mistakes is not being available to interested people who can take it as not interested in them or their offer. When selling your house, it could consume time, and we know that we are busy with work, kids, schools, etc. If you have limited time to show your home, and not available in certain times, make sure to let all potential buyers, or people who are showing interest know that you have limited time availability, so they can work their schedule if that is the only option.
All these mistakes and errors can be avoided especially if it is in our control. If you have the help of a specialized real estate agent, since they will be in charge of negotiating on your behalf. Additionally, the real estate agent will be responsible for marketing and advertising the house so that the information reaches a greater number of people. Real estate agent will always be available for showing or answer any question, go to home tours even if you are not available.
Now we talked about what not to do when selling your house, let’s talk about what you should do when selling your house, and best practice to achieve the best result. Selling your house with more money and in shorter timeframe then average traditional house sale. Here is what to do when selling your house:
Hire The Right Agent
Hiring the right agent is the first thing to do when selling your house the traditional way. There are options when selling your house, however, here we are discussing the traditional home sale. The right agent will price your home correctly, and provide accurate home value. In addition to price your home correctly, the right agent will present to you the home value, and the recommended listing price according to the market condition, and local market condition. An experience agent also aware of what is good time to sell your house, and the average time on the market in your neighborhood. The market will determine the price of your house. That being said, the real estate agent will present to you with multiple options, and price range that you choose from based on your situation. Your situation is unique and every real estate transaction is not the same. For example, if you have to relocate in certain date, and your time is limited, you might choose the option that in the bottom of the range to give the buyer a good deal so the sale would close in your time frame, and you move to your new place or a city. Another example, if you are not in a rush and you have time to wait, you might choose the top of the range and wait till you get the price you want. But that doesn’t mean you will get much higher price then the actual home value. With that in mind, the lender will only approve and release the fund if the appraisal is matched with the home value.
Set the price correctly: according to your local market prices. Before going into details, perhaps the most convenient thing is to put a price on your home that adheres to the current market reality in your area, since otherwise, due to many characteristics to highlight in your home, it will always be a home with an outdated price and therefore difficult to sell. As we mentioned above, the right agent will discuss the home value details with you, present to you the local market prices, market condition, and so on. The ultimate decision is yours, but is always good to be informed in order to make the best decisions.
Timing: it is important to plan ahead if you have the time, and put your house on the market in the spring. The reason is, the spring is a pleasant weather, and people tend to get out of their home more, which means people are more likely are willing to tour homes, and so on. Additionally, if the home selling and buying process starts in the spring, that mean by the time the process move to closing, would be in the end of the summer, or beginning of fall which is time for the new school year. Which according to research, that is the best time to sell your house.
The Showing: it is very important to make sure that your house is clean, Decluttered, and in a great shape when showing it to potential buyers. Details are important and the smallest details may set them off and prevent them from making an offer. There are some visitors will look, and open every door, so, make sure your closets are neat and organized. All rooms are well organized, and all area in the house are presentable. Unless, you don’t want potential buyers to open the closets, and doors. If so, make sure to discuss that with the agent, and place notes in the doors you don’t want them to open.
Hire professionals: if there is some repairs needed in your house while selling, it is good to hire professionals to do the job. For example, if you need to patch a spot on the wall, and it is done but it is not painted, or the new color doesn’t match with the old color, that would come across as you trying to hide a damage, and it may suede the potential buyers the other way. A fresh coat of paint can make a huge difference if it is done correctly, and will show that you are taking care of your home. That being said, if you are unable or unwilling to make repairs and upgrades, it is better to let buyers know upfront, and work this out during the negotiations, but make sure to include it in the contract.
Curb appeal: before potential buyers will enter your house, they will look at the house from the outside. Make sure it is uncluttered, clean and the yard trimmed. Does the house roof is painted or it needs a fresh coat of paint. Windows, and doors, make sure they are clean and if needed just add a coat of fresh paint to the door if it doesn’t look presentable. Stand outside your house and look to see what would set you off and prevent you from making an offer on your own house, and start working toward improving the curb appeal. Try to remember what you liked about the house when you bought it and recreate that for your potential buyers.
The flooring: one of the most important thing we look at when we enter any house, is the flooring. Make sure your floor is clean, and free of any damage.
The smell: Make sure that your house smell good. Make sure to have some air circulating in and out of the house during the sale process, and during the showing timeframe. It may not be as in important factor for some people, but for some it could be a turn off. The last thing you want when selling your house, is to lose a buyer due to something you can control.
Clean house: it is important during the sale’s timeframe to keep your house clean and decluttered. It would be a great option if you can hire a home cleaning service to clean the house in details in a weekly basis to help you achieve your goal.
Final words: selling your house is a big task, and involve a process. There are a lot of factors in your control and a lot are out of your control. Focus and improve what you can control, and make sure that you hire the right agent to help you through the process.