2. Set the right price. Your next goal will be to decide the most ideal offering price for your home. Setting a reasonable listing price from the beginning will produce the greatest response from REALTORS and purchasers. You should consider the age and state of your home, what equivalent homes in your neighborhood have sold for, and the condition of the housing market in your general area. It’s frequently hard to stay fair-minded when putting a value on your home, so your REALTOR’s valuation and market experience is priceless at this juncture. Your real estate agent will have knowledge of what similar homes are being sold for in your neighborhood and the median days on market those homes are active. On the off chance that you need a for third party’s impartial opinion about the value of your home, you can have an appraisal done. This commonly costs around $400.
Keep in mind: It is generally in your best interest to set a reasonable asking price for your home, versus setting your asking price above market. Market research has proven that an asking price more that 3% above actual market value causes homes to take longer to sell. The unfortunate result of your home sitting on the market unsold is, potential purchasers may think there is some underlying problem with the property. Frequently, when this happens, the listing agent needs to drop the asking price under the current community selling price averages to gain traction and compete with homes priced correctly from the start.
3. Getting your home ready for your sale. The majority of homeowners don’t keep their home in a “show ready” state. Over time it’s expected that we have dents in walls, burnt out lights, and sticky sliding glass doors going unchecked. It’s critical that you enter the mental state of a determined home seller and actively transform your home into a pristine state if the goal is maximizing the sale price. Your home’s condition is a major factor directly impacting both the time your home sits on market and the offer price and number of offers you receive.
Your REALTOR will be able to provide a neutral perspective as well as bring in outside consultants who specialize in home staging and home presentations suited to appeal to the masses.
- A listing with an abundance of personalized home décor makes for a more difficult sale. Your Realtor should suggest relocating or eliminating photos, portraits, keepsakes, souvenirs and personalized décor. Doing so will allow potential purchasers to more easily imagine making the home their own.
- Make minor repairs where necessary. minor imperfections, for example, a running toilet, a cracked window or exterior mildew, can skew the purchaser’s initial perception of the property.
- A lack of organization is a major distraction for purchasers viewing your home. Ensure you have gotten rid of all clutter from storage racks and cleared all restroom and kitchen counters to make each surface appears open and expansive.
- Online Marketing
- REALTOR Referral
- Social Media
- Print Marketing
- Listing Sign
- Just listed postcards
- Posting to the MLS
5. Reviewing offers for purchase. When a written offer is submitted from a potential purchaser, your REALTOR will first make the determination as to whether or not the purchaser is qualified with a reputable banking institution to purchase at the written sale price. Assuming this is the case, you and your REALTOR will evaluate the offer, taking into consideration what each party will be required to complete and for what compensation. The offer, should have a minimum of elements including the following:
- Sale price
- Down payment
- Description of financing
- Deposit and deposit location
- Lawful depiction of the property
- Inspection requests
- Rundown of charges and fees and what party pays them
- Selection for closing institution
- List of what conveys with the property
- Closing date
6. The meeting of the minds. Most sale contracts will require some give and take to reach a middle ground on the deal’s terms. Your REALTOR is knowledgeable on the details of the offer specific to your region and will ensure your protection throughout the negotiating period. Your REALTOR additionally understands the requirements of each clause, what the proceeds at closing will be and what sections of the contract present the most flexibility in negotiations. Some flexible contract terms:
- Sale price
- Closing fees
- Inspection results and requirements
- Closing date
- Property transfer condition
- Occupancy date
8. Settlement. Settlement alludes to the meeting where legal ownership of property transfers to the purchaser. Your REALTOR will attend your settlement to guide you through the procedures and ensure everything goes smoothly. By attending settlement, your agent can address any errors, omissions or concerns which may be present. In some jurisdictions, a lawyer is required and you may wish to have one present. With settlement finished, you will want to start the final procedures for your move out. Here is a list to help serve as a guide.
- Cancel power, gas, landscaping, TV/Cable and any additional regularly scheduled services
- Should the purchaser wish to keep any of the services, request a transfer of service to their name.
- Collect any keys, garage openers, manuals and service warranties.