Discover how to protect and capitalize on your most important investment!
You do not sell a home by "Accident" and because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. To better understand the home selling process, a guide has been prepared from current industry insider reports. Here are some of the key tips we will work together to discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation and make the most profit possible.
Understand Why You Are Selling Your Home.
Your motivation to selll is the determining factor as to how we will approach the process. It effects everything from what you set your asking price at to how much time, money and effort your willing to invest in order to prepare your home for sale. for example: if your goal is for quick sale, this woud determine one approach. If you want maximize your profit, the sales process might take longer requiring a differnt approach.
Keep the Reasons for Selling Your Home to Youself.
The reasons you are selling your home will effect the way you negotiate its sale. By keeping this to yourself you don't provide any ammunition to your prospective Buyers. For example should they learn you must move quickly, you could be placed at a disadvantage in the negotiation process. Keep it from neighbors, your sphere of influence or anywhere a potential buyer might hear from. The reasons you are selling is your business is for you alone.
Before Setting a Price Do Your Homework.
When you set your price, you are making Buyers aware of the absolute maximum they have to pay for your home. (unless Multiple Offers occur) As a Seller, you will want the selling price as close to to the list price as possible. If you start the pricing out too high you run the risk of not being taken seriously by buyers and their agents and pricing too low can result in selling it for much less then you where hoping for.
Setting Your Home's Sale Price.
When setting your home selling price many factors come into play, Location, age, condition, property type, market activity and your specific circumstances for selling all can play an important role in determining the price. This is why working with the right Realtor like Richard who is prepared to commit to achieving your Real Estate goals, invest the time to listen, working together with you adding my experience to get the job done.
Tax Assesments - What they Really Mean.
Some people think that tax assessments are a way of evaluating a home. The difficulty there are that assessments are based on a number of criteria that may not be related to property values, so they may not necessary reflect your home's value.
Ensure You Have the Room to Negotiate.
Before settling on your asking price make sure you have enough room in which to bargin. For example, set your lowest and highest selling price. Then check your priorities to know if you'll price high to maximize your profits or price closer to market value if you want to sell quickly.
Appearances Do Matter - Make Them Count.
Appearance is is so critical it would be unwise to ignore this when selling your home. The look and "feel" of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.
Invite the Honest Opinions of Others.
The biggest mistake you can make at this point is to rely soley on your own judgement. Don't be shy about seeking the honest opinions of others. You need to be objective about your home's good points as well as the bad. Fortunately Richard will be unabashed about discussing what should be done to make your home more marketable.
Get Spic an' Span Clean and Fix Everything
Even if it seems insignificant scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeeks, the light switch that doesn't work and the tiny crack in the bathroom mirror because these can be DEAL-KILLERS and you will never know what turns the Buyers off. Remember, your not just competing with other resale homes but brand-new ones as well.
Allow Prospective Buyers to Visualize Themselves in Your Home.
The last thing you want is prospective buyers to feel when viewing your home is being unable to see themselves living there from being over powered by your presence. Avoid clutter like too many knick-knacks etc. Decorate in neutral colors like white or biege and place a few chosen items to add warmth and character. You Can enhance the attractiveness of your home with a well placed vase of flowers or potpourri in the bathroom. Home-decore magazines are great for tips.
Deal Killer Odors - Must Go!
You may not realize but odd smells like traces of food, pets and smoking odours can kill deals quickly. If prospective buyers know you have a dog or that you smoke they will start being aware of odors and seeing stains that may not even exist. Don't leave any clues.
Be a Smart Seller.
Disclose Everything, Smart Sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent law suits later on.
Keep Emotions in Check During Negotiations.
Let go of the emotion you've invested in your home. Be detached, using a business-like manner in your negotiations. You'll definately have an advantage over those who get caught up emotionally in the situation.
Learn Why Your Buyer is Motivated.
The better you know your buyers the better you can use the negotiating process to your advantage. This allows you to control the pace and duration of the process. As a rule, are looking to purchase the best affordable property for the least amount of money. Knowing what motivates them enables you to negotiate more effectively. For example does your buyer need to move in quickly? Armed with this type of information you are in a better position to bargain.
Never Sign a Deal on Your Next Home Until You Sell Your Current Home.
Beware of closing on your new home while you're still making mortgage payments on the old one or you might be end up becoming a seller who is eager (even desparate) for the first deal that comes.
Moving Out Before You Sell Can Put You at a Disadvantage.
It has been proven that it's more difficult to sell a home that is vacant because it becomes forlorn looking, forgotten, no longer an appealing sight. Buyers start getting the message that you have another home and are probably motivated to sell. This could cost you thousands of dollars.
Don't try to sell by a certain date.
This adds unnecessary pressure and is a serious disadvantage in negotiations.
A Low offer-Don''t Take It Personally.
Invariably the initial offer is below what both you and the buyer knows he will pay for your property. Don't be upset; evaluate the offer objectively. This can simply provide a starting point from which you can negotiate.
Resist Deviating From the Contract.
For example, if the buyer requests a move-in prior to closing, just say no, that you have been advised against it. Now is not the time to take any chances of the deal falling-through.