Do’s and Don’ts of Selling Your Home
The only way to approach home selling is taking one step at a time because it can be surprisingly time and energy consuming along with emotionally draining, especially if you’ve never done it before.
1. What To Expect When Selling Your Home
Below is a general timeline of the process from deciding to sell your home to the moment you give the keys to the new owners
– Hiring an agent and showing the place
– Comparing to similar properties and consulting on asking price and listing details
– Getting your home ready for its big debut by making upgrades and fixing whatever needs fixing
– After making your home shine, use each showing as an opportunity to gain valuable feedback and market your house better
– Negotiating is rarely pleasant unless it’s your kind of thing but it’s often unavoidable. Just make sure everything final ends up on paper and your lawyer will take care of the rest.
– Pending period between accepting an offer and closing the sale during which your house will be inspected. Hold onto your homeowner’s insurance policy until you are officially no longer the homeowner
– Closing day is when you sign the documents and the funds are on their way to your account.
2. Mistakes To Avoid When Selling Your Home
At times, home selling may feel like an invasion of your privacy because strangers will not only enter your home but also poke around by opening your closets and cabinets.
This kind of inconvenience makes it almost too easy for first-time home sellers to make a lot of mistakes. However, as long as you know what these mistakes are, you can avoid them.
Letting emotions get the best of you
Your home is where you created many memories, and we all have difficulties with saying goodbye. Potential buyers will criticize a place that has been so much more than just four walls and a roof to you. They will also offer you less money than you think your home is worth. Keep your emotions in check and stay focused on the business aspect of selling your home. Thinking of yourself a sales or business person and not a homeowner can help to create the much-needed emotional distance.
Not hiring an agent
Although real estate agents come with a hefty commission of about 6% of the sale price of your home, they are usually worth it because a good agent generally has your best interests at heart and has the know-how to make it happen. They will help you set a fair and competitive selling price, increase your odds of making a quick sale, interact with potential buyers, saving you time and energy. Their experience is likely to help you get more money than you could on your own. They know of potential problems ahead as well as how to deal with them, protecting you from delays or glitches in the deal.
An unrealistic price
Setting the right asking price is key as overpriced homes generally don’t sell.
Expecting the Asking Price
Any smart buyer will negotiate, and you will need to respond if you want to make the sale. What most people want is to list their homes at a price that will attract buyers while still leaving some room for negotiations, allowing the buyer to feel like they are getting good value while allowing you to get your desired selling price.
Of course, what you end up with will depend on more than your pricing strategy such as whether you are in a buyer’s market or a seller’s market as well as the overall state of your home.
Not adding photos
With today’s online world, you cannot afford to skip on visuals which is usually a red flag. If you do a good job, it will set your listing apart and generate extra interest.
Hiding major problems
Whatever you try to hide to hide will be uncovered during the buyer’s inspection. You have three options to deal with any issues. Either fix the problem ahead of time, price the property below market value to compensate, or list the property at a normal price and offer the buyer a credit for fixing the problem.
3. Tips To Sell Your Home
By being smart about how you use your time and energy, you can smooth the way for a sale and realize the full potential of your property.
Take care of the curb appeal
The landscape is the first thing that your potential buyers will see, and the first seconds are crucial, in the same way that first impression is everything.
Take advantage of good lighting
A bright, cheery home is more inviting to buyers. Let the sunlight in and if that’s not an option, add some better lighting to brighten your home.
Consider a professional cleaning.
A dirty home can turn buyers away faster than just about anything. The smell can also easily drive someone away from buying your home as pet odor and traces can kill a sale.
Update your kitchen
There’s a saying that kitchens sell houses. This is why kitchen upgrades offer the biggest returns on investment. Sometimes all that it takes is giving your cabinets a fresh coat of paint.
Energy-efficient appliances such as a smart thermostat can help to cut your home’s Eversource utility expenses. The ability to save money on bills and maintenance can be a big selling point for potential homebuyers who are willing to pay a premium for green homes.
It’s possible to get the highest possible price within a reasonable time frame without losing your mind but you need to learn how to sell a house. Make sure you prepare mentally and financially. By avoiding the costly mistakes, you will be closer to achieving that seamless and profitable sale which every home seller dreams of.