When it comes time to sell your home, there are several subtle tips you should follow. Even during a seller’s market, you can’t just list your home and wait for offers to come rolling in. If you overplay your hand, then buyers will pass over your property and move on to the next one. Similarly, simply doing rehab work or performing upgrades isn’t all it takes to successfully sell your home, either.
Below, check out three tips and things to consider when you get ready to sell your home.
One of the most important things you can do to have a quick and successful sale is to list at the right price. Doing so helps you sell more quickly and at a higher price. Both buyers and real estate agents are influenced by the initial listing price and listing higher than the market suggests can end up in a quick loss of interest in your property. Listing too high won’t generate buzz or create a multiple offer situation, and your property will probably sit vacant while less expensive homes are sold.
Additionally, listing too high will result in a lack of showings and within a few weeks you’ll be forced to make a decision about lowering the asking price. Should you lower the price or just wait for buyers? Neither of these options in an ideal situation because lowering your price can be viewed as a sign of desperation and you will likely see offers lower than asking price coming in. Conversely if you hold your price, you could go weeks or months before you have a showing.
Avoid this decision by listing at the right price from the start, which keeps your property fresh and generates interest from both buyers and agents.
A great listing price is important, but it may not be enough to get an offer. When you list your home, put yourself in the buyer’s shoes by walking through the property as if you were going to buy your home. Starting with the exterior of your home, you need to make sure that proper landscaping is always done. Having overgrown shrubs or brown grass suggests that you don’t take care of the exterior, so you may not take care of the interior.
You want to impress your buyer the moment that they step inside your property and there are several ways to do this. Avoid cooking any strong smelling foods the night before a morning showing, because a fishy dinner smell could drive a buyer away. Also, be sure that you are on top of the temperature, especially is the house is currently vacant. First impressions are critical so make sure your home is always spotless and inviting to attract the most buyers.
Price is always an important consideration but there is more to an offer than the price, and it’s important not to be tempted by the biggest number that comes your way. Before accepting an offer, check the financing, closing date and contingencies because if you accept an offer that ultimately doesn’t close, you will have to start the process all over again. There is no guarantee that buyers who were interested in your property a few weeks ago will still be around, they may have moved on to other houses.
Always go through the pre-qualification letter with your real estate agent and look at the type of loan submitted and the down payment amount. Review the contract line by line and check for things like excessive or unreasonable contingencies, credit or asking to keep items in the house. If a buyer is difficult when submitting an offer, there’s a good chance that they will continue to be that way throughout the process. Accepting the right offer means one that will end up closing in the easiest possible manner.
Selling a property can be confusing and incredibly overwhelming at times. Having as much information as possible about what will help your property sell quickly and for the price you want. Remember that real estate markets constantly change, so it’s important that you do everything in your power to get the highest price possible for your property.