selling your home Archives - Everday Resources

It Starts With An Experienced Agent For Selling Your Home

Working with an agent that has significant experience in selling homes in your area. You are going to want someone who is as invested in getting every dime of value out of your home as you are.

Occasionally sellers will try to save money by using an agent with lower commissions, but you are going to get what you pay for, as the saying goes. If an agent who charges even a single percentage point more can bring you 5% more profit, you’re already up by 4%.

The Price Has To Be Right The First Time When Selling Your Home

Pricing the home right initially is a huge benefit. The home will lose value the longer it’s on the market without selling. Opening the listing at the right price will benefit you in a couple of ways. First, it will encourage a short time on the market. Second, overpricing can not only cost you time, it can cost you money, as people will know that it is overpriced, and will use that in negotiations. Leveraging a skilled agent can help you get the best price initially.

Make sure you have personally researched local listings and recent sales. Look for trends. Touring open houses can also give insight into what is on the market. Call your bank and asking for a beneficiary demand can also give you an idea of what the home is worth.

Preparation Is Key

This one might cost a little bit of money, but the value added to the potential sale should far exceed what you put into it. This is the stage where you spruce up the cosmetic appearance and curb appeal of your soon-to-be-former home.

Basic home repairs can count for a lot here, as can a fresh coat of paint in several key rooms. Also make sure you pay attention to your landscaping, maybe hire a crew for an afternoon to get it ready for the weekend showings. This can help first impressions be great.

Keep An Eye On The Fees

When you receive an offer from a potential buyer, the offer will list the fees the buyer expects the seller to pay. Sometimes, the buyer requests inspections or other closing concessions. These can all be negotiated, and if they request a percentage toward costs, you might consider raising the price to help offset that.

Be sure to negotiate, particularly on the fees. The same goes for a home warranty, if the buyer wants reports for inspections or pests, for example, make sure you cap the potential expense that may make you liable for. Also shoot for the end of the month for closing, so that you can save a little money in interest.6

Whether you have decided you are ready to sell your home or you are still deciding if you really want to move or not, understanding the selling process can help you along your journey. Really, the process is pretty straightforward. Let’s take a closer look at what you will need to do to ensure your home sells.

Deciding to Sell Your Home

Before committing to putting your home on the market, you should ultimately ask yourself why you think selling is the right decision. Is your home too small? Outdated? Not in a good location?

After you decide to sell, it is completely normal to be nervous and have doubts about your choice. There are a few signs that show you are ready to take this step:

You are equity positive, which means you do not owe more than the value of your home.
You are in a position financially that will allow you to buy a home that is a better fit for you and your family.
You’ve done a gut check, ensuring your emotional state will allow you to treat the selling of your home like a business transaction without feelings getting in the way of critiques and negotiations.

After you determine that you are totally ready to sell, you should determine the value of your home and decide when you would like to start the selling process.

Best Method to Sell Your Home

When it comes to the actual selling of a home, most people do not have the first idea of what to do. This is where a real estate agent comes in. They are professional home sellers and they will be able to help you get your home on the market.

Real estate agents do a lot:

Analyze the housing market to help determine a fair price for your home
Help guide you through prepping the house for photos and showings, including decluttering, repairs, and staging
Recommend professional stagers and photographers to show the true beauty of the home
Using social media and real estate platforms to market your home
Find potential buyers to show your home to, highlighting all of the best parts
Handle negotiations so you get the best price
They do the bulk of the paperwork, and walk you through anything you need to handle

Getting Ready

It can be tempting to completely remodel your outdated kitchen or replace the flooring in the owner’s suite. The most important things to fix are things that matter to buyers. As long as everything is functional, the most important thing to do is keep your home clean, decluttered, and as neutral as possible.

Negotiations and Closing

Once your home is on the market, it’s a waiting game on your end. You essentially wait for people to show interest. When the offers start coming in, you’ll need to make counter offers and choose the best offer, put the offer into escrow, handle any problems related to your deed or title, have the home inspection, and close on the sale.