Whether you are in the market to buy or sell your home, there are some important facts that you need to know. As a buyer, it is important to be proactive, do your due diligence and research all your options. As a seller, you need to prepare your home, interview potential buyers and hire professional representation. On either end of the spectrum, special attention is required to successfully complete the transaction.
Here are some quick tips you need to know as a Seller:
Have Your Home Appraised
Getting your home appraised can potentially increase your home’s value if you have made some improvements since you bought it. An appraisal is conducted by a third-party company that sends a professional appraiser to evaluate the home’s current condition and determines the home’s value worth. If you want to bump up your home’s value, consider doing the following:
Remodel Where Necessary
Instead of remodeling the whole house, renovate areas that could really use the update. Or, remodel rooms where you can get the biggest return rate, like the kitchen or bathroom. Making these updates in older homes especially can increase the home’s value and overall appeal.
Deep Clean
A clean, squeaky home will be a lot easier to sell than a filthy and dirty home. Make sure you scrub the tubs, clean the floors, toilets, sinks and countertops. And pick up any items lying around. It is important to tidy up the place before potential buyers come to see the home.
Depersonalize
It is hard for potential buyers to envision themselves in your home when you have personal items like family photos on every wall. Depersonalize your home by boxing up photos and displaying more neutral objects so buyers can visualize the space as theirs.Working with the right real estate
Open And Brighten Up
Opening up the room by decluttering the space and using smaller furniture can make the room seem bigger. In addition, using bright lights and having open drapes can illuminate the room’s presence and atmosphere.Create more open space by cleaning out each room and install bright LCD light bulbs to accentuate the space.
Hire The Right Agent
Sellers too, need to be careful on who they hire as their agent. Agents can help market the home effectively to target the right audience. Typically, real estate agents have professional photographers take pictures of their listed homes to engage potential buyers. They also have an advantage by having a wide variety of contacts that may have interested buyers or potential leads. Just as if you were in the market to buy a home, you will need to interview candidates and ask them questions, such as:
- What is their plan of attack to sell your home?
- What types of homes do they have experiencing selling?
- Do they help with legal paperwork?
Asking these questions will help you make the right decision on who to hire.
Consider Offering Incentives
Depending on how quickly you want to sell your home, you might want to consider offering an incentive. For example, paying for closing costs. As a buyer, closing costs are another expensive factor in the mortgage process. They will need to set aside additional funds for this transaction, which covers attorney fees, finalizes the real estate transaction and more. As a seller, if you were to lift that burden off their shoulders by paying a certain percentage or all of it, buyers may be more intrigued to do business with you. Especially if you are looking to sell quickly, offering something to buyers they can’t pass up on is a motivating influence.
Request A Pre-approval
Asking for this documentation upfront is proof that potential buyers are financially stable and eligible for a loan. This letter states the dollar amount they have been approved of, along with terms and rates. In addition, requesting this letter also proves that buyers are serious about purchasing a home, and are financially qualified. Asking this simple question will save you time from doing business with unqualified and uninterested borrowers.
Be Ready To Go
When you are in the market to sell your home, it must be ready to go, 24/7. That means, your home must be clean, rooms are staged, and the exterior is just as appealing and inviting as the interior. Buyers will not be interested going into a home that looks dirty, messy and uninviting. In other words, your home’s curb appeal needs to make a good first impression. The real estate market is unpredictable, which is why you need to be prepared for the unexpected. The current season you are selling your home in also needs to be accounted for. Depending on the season will determine how much preparation you will need. For example, if you are selling in the fall, you will need to rake the leaves out of the front lawn. If you are selling in the winter, you will need to shovel the driveway for easy and safe access to the house. This little extra work will also help stage the house for photo opportunities. Consider taking pictures of your home in different seasons so potential buyers can see what the home looks like all-year round.