The assumption for many is that selling your home is a simple and straightforward process, correct? After all, you own the home you are selling; I’ve “been there and done that” is the thought. Well, selling a home can be a process that is full of surprises. Here are a few steps to make sure you are completely prepared to sell your home?
When the time comes to sell your home the advantages of a tried and true professional is worth their weight in gold. Finding an experienced professional who is ready to offer sound advice and also listen to your concerns regarding the anticipated selling process is your priority. The guidance a caring professional conveys will bring a little peace of mind throughout the selling process.
It’s all about making sure your home is in great shape and appeals to buyers. Often referred to as “curb appeal,” it is the first impression potential buyers will experience as they visit your home. My grandfather told me, “you only have one chance at a first impression – get it right”! The street appearance of your home will convey to a prospective buyer kind of shape your home is in even before they step inside.
While it’s not necessary to remodel your entire house, necessarily, there are a few things you can do on a budget and in a short amount of time that will help your home sell. For example, buyers look at kitchens and baths first. Ask yourself, “Are the appliances in good order? Are they clean? Does the master bath have sparkling hardware? Would changing out hardware make the room gleam?” One of the best ways to freshen up a house is to add a fresh, new coat of interior paint. This is one of the least expensive ways to really spruce up your home. Your real estate agent will be able to suggest some additional ways to freshen up your specific home and make it more “buyable” for potential customers.
When home sellers sell, they’re usually doing something else at the same time – for example, buying! You will need to contact your mortgage lender and provide the required documentation very early on in the process. Don’t wait until you get an offer on your home before applying for your next mortgage. You’ll want to address any potential issues while getting pre-approved before you find your next home or before you need to hand over the keys to yours.
That means compiling copies of your most recent tax returns, bank and investment statements/portfolios, as well as paycheck stubs and insurance policies. Every lender requires complete documentation of your income, assets and credit history.
When you list a home for sale, it is a requirement that you disclose any known issues with your home. These issues could include a leaky faucet, foundation cracks or whether or not the roof needs to be repaired, to name a few. If you do not disclose known issues to potential buyers, you can be held liable for damages should the buyers discover that, for example, the foundation was faulty and you knew it all along.
Today, many home sellers hire a professional home inspector to carefully review their home, from basement to attic, reviewing everything from functioning light switches and thermostats to overall condition of the home’s foundation and drainage systems, to name a few. By having your own inspection completed, you’ll be able to identify and make repairs before listing the home, while providing potential buyers with a report identifying what’s right and what’s wrong with your home. Your real estate agent and your mortgage lender can refer you to recommended local home inspectors or, of course, you can search for them on your own.
In addition to suggesting a home list price based on comparative and recent sales data, the condition of your home and other important factors, a real estate agent will help negotiate the sale of your home when a buyer makes an offer.
At that exciting time, a contract will outline who (either the buyer or seller) is responsible for what during the closing process. This can include obtaining financing, the paying of closing costs and identifying the closing date. Remember that everything in the sales contract will need to be acted upon, verified or completed as requested prior to closing. A professional real estate agent can navigate, inform and guide you during what can be an overwhelming or slightly confusing process.
It’s been said that selling a home can be more stressful than even buying one. After all, a seller is often in the middle of two closings, your current home and your future home. And, if your home doesn’t sell, you may not be in a position to buy your next home.
If you are serious about listing your home immediately; contact us today regarding our “Listing Special”. A deal you won’t believe!