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Tips for
Selling Your Property
The process of selling your
home can be an emotional and
exhausting process. There are
many things you will need to do
in preparation of placing your
home on the selling market. By
following some simple
guidelines, selling your home
can be a more enjoyable and
smoother process.
Plan Ahead
If you are planning on
purchasing a new home in the
near future, it is a good idea
to place your home on the market
as far in advance as possible.
If you wait to place your home
on the market until after you
have found a new one, you may
end up paying two mortgages
until you find a buyer for your
home.
Also, consider the fact that
closing and moving dates will
need to be coordinated. More
than likely, the buyer of your
property is selling their
current home as well. Make sure
that all parties involved commit
to a specific time period for
the closing dates. Put your
closing date agreement in
writing and negotiate monetary
penalties for failure to comply.
As you begin to think about
looking for a new home to
purchase, you may also want to
start preparing your current
residence to be placed on the
market. Start cleaning out
attics and basements of any
unwanted or unused items. By
doing this early on, it will
save you time when beginning to
pack for your big move.
Choosing An Agent
Many homeowners decide to
sell their property on their own
to save themselves the cost of
commissions paid out to a real
estate agent. Commissions are
generally around 5% or more of
the selling price. You may want
to consider, however, the costs
you will incur to market your
home yourself. You will be
responsible for placing ads and
creating flyers for your house.
Also, you will have to devote
much time to answering phone
inquiries about your home and
showing the property. Consider
whether or not you will feel
comfortable showing your home to
strangers who show up
unannounced.
Should you decide to sell
through a licensed real estate
agent, ask your friends and
family for recommendations.
Interview several agents before
choosing the one you wish to
hire. Find an agent that you
trust and feel comfortable with.
Below are some of the
advantages of working with a
licensed real estate agent.
The seller’s agent will:
· Help you to
establish a fair asking
price.
· Handle all
advertising and marketing of
your home.
· Schedule
appointments and show your
home without your presence.
· Market your home
to other real estate offices
and agents.
· Represent you in
the negotiations with the
prospective buyer.
· Guide you
through the closing process.
Setting a Price for Your Home
Once you have decided to
sell, the next big step is to
determine what the fair asking
price should be for your home.
Try to avoid overpricing your
property; this may cause your
home to remain on the market for
an extended period of time.
Instead, you should price your
home so that you get a fair
return on your investment and in
a reasonable time period.
If you have chosen to use a
real estate agent to represent
your interests, he/she can guide
you in setting the price at just
the right amount. The agent, or
a licensed appraiser, is able to
complete a Comparative Market
Analysis on your home. A CMA
compares your home with similar
properties that have sold within
a specified period of time. This
will enable you to set a
comparable price to others that
have been on the market.
Other factors to consider
when setting a price for your
home:
· Economic
conditions of your community
· The supply and
demand ratio in your local
housing market
· The location of
your property (school
districts and subdivisions)
· Your home’s
special features (garage,
pool, fireplace, in-law or
guest quarters)
· The age and
condition of your home
· Seasonal
influences (the housing
market may be stronger
during certain times of the
year).
Preparing Your Home to Sell
There are many minor things
you can do to your home to
enhance its marketability.
Remember, you want your home to
make a great first impression to
a potential buyer. Spend some
time prior to placing your home
on the market cleaning out
storage spaces, closets, and
cabinets. Remove any excess
clutter from your home as well.
You want the prospective buyer
to remember the architectural
features of the house and not
the furnishings you have in it.
The potential buyer needs to be
able to envision their
furnishings in your home.
Below is a list of things you
can do to increase the value of
your home:
Consider Curb Appeal:
It is estimated that more
than 50% of homes are sold
before the buyers even get out
of their cars. Stand across the
street from your house and
review the curb appeal.
· Keep the lawn
mowed and raked, shrubs
trimmed, and the sidewalk
swept.
· Plant shrubs or
install fencing to block
unpleasant views.
· Clean the
exterior of your home. Clean
oil stains from the driveway
and garage.
· Repair and/or
paint exterior siding, trim,
gutters, shutters, glazing,
and window frames.
· Repair or
replace the street numbers
on the house.
· Make sure all
exterior lighting is
working.
Garages, Carports, and Sheds:
· Replace burned
out lights.
· Clear away
cobwebs.
· Keep areas clean
and uncluttered. Organize
and put away tools.
· Lubricate,
adjust, or repair garage
door.
Interior Maintenance:
On the inside, remove as much
clutter as possible. Hire
professionals to do a deep
cleaning. Cleanliness is a sign
to buyers that the home has been
well cared for.
· Clean and vacuum
carpets. Replace worn carpet
and use area rugs as needed.
· Apply a fresh
coat of paint.
· Wash curtains
and draperies.
· Clean ceiling
fans and light fixtures.
Check for cobwebs in all
corners.
· Clean and
organize all closets and
cabinets.
· Lubricate window
slides; make sure doors
close smoothly.
Kitchens and Bathrooms:
Overall, kitchens and
bathrooms should be spotless.
These two rooms alone can sell a
home.
· Clean all
appliances inside and out.
· Replace all
light bulbs (appliances
included).
· Clean floors and
light fixtures.
· Deodorize
disposal, dishwasher, and
refrigerator. Neutralize
odors and clean all mold and
mildew.
· Repair leaky
faucets. Make sure toilet
flushes properly.
· Test all
electrical outlets.
· Unclutter
counters and cabinets.
· Clean shower
door or replace curtain.
Remove soap residue and lime
deposits from sink, shower,
and bathtub.
· Put out fresh
towels.
Create a Pleasant Atmosphere:
Overall, make sure your home
exudes an inviting atmosphere.
You want the potential buyer to
have a pleasant experience
visiting your home so that they
remember the positive attributes
that your home possesses.
· Turn on all
lights. Open drapes to allow
natural light as well.
· Light candles
and put out fresh flowers.
· Play quiet
background music.
· Turn on the air
conditioner or heater so
that your home is at a
pleasant temperature.
· Be absent during
showings and keep pets
outside.
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