Selling your home is one of the most important steps in your life. Here are 10 essential tips you must know...
The reason you look closely at why you want to sell is that your motivations play an important role in the process. They affect everything from setting a price to deciding how much time and money you'll invest to getting your home ready for selling. For example, what's more important to you: the money you walk away with, or the length of time your property is on the market? If your goal is a quick sale, that can dictate on kind of approach. If you want to maximize your profit, the sales process will almost certainly take longer.
Your reasons will affect how you negotiate the sale of your home, but they shouldn't be give as ammunition to the person who wants to buy it. For example, a prospective buyer who knows you must move quickly has you at a vantage point in the negotiation process. If asked say that your housing needs have changed. You reasons are nobody's business but your own.
Settling on an offering price shouldn't be done lightly. Once you've set your price, you've told buyers the absolute maximum they have to pay for your home.The trick for the seller is to get a selling price as close to the offering price as possible. If you start out by pricing too high, you might not be taken seriously by prospective buyers or their Realtors. A price too low cab result in selling for much less that you had hoped for.
The best way is to get to know your competition, identify features that are popular. Check out other open houses and plan on spending a few weekends touring other homes on the market to learn what other sellers are asking.
Sometimes you can use a good appraisal to your benefit in marketing your home, And if you get a VA or FHA appraisal, you can use it to let prospective buyers know that your home can be financed. However, an appraisal costs money. It also has a limited life. And you may not like the figure you hear.
Some people look to tax assessments to assign a value. The problem here is that assessments are based on a number of criteria unrelated to property values, so they often don't necessarily reflect the true value of your home.
Nearly two-thirds of the people who sell their own home say they wouldn't do it themselves again according to research by the National Association of Realtors. Sellers surveyed point to difficulties in setting the correct price, marketing handicaps and liability concerns among the primary reasons they would turn to a Realtor next time, and selling a home yourself usually eats up more time and effort than you might initially expect.
Make sure you leave yourself enough room in which to bargain. If what you ask for is unacceptable to the buyer, and their first offer is unacceptable to you, then you better make sure you have someplace to go that is acceptable to you. Start with the absolute minimum price you would accept, then pick the price you'd get if the world were perfect. This gives you your range to keep in mind when working with your Realtor to negotiate the sale.
Each year. corporate North America spends billions of dollars on product and packaging design. The lesson here is that appearance is critical-and it would be foolish to ignore this when selling your home. You may not be able to change your home's location or it's floor plan, but you can do allot to improve it's appearance to a potential buyer. And you should. The look and feel of your home generates a greater emotional response than any other factor. You may price your home to sell, but a prospective buyer reacts to what they see,hear,feel, and smell.
Studies have shown that it is more difficult to sell a home that is vacant - it looks forgotten, simply not appealing. It could even cost you thousands. If you move, you're also telling buyers that you have a new home and are probably motivated to sell.