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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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