When you make the difficult decision to list your house for sale, the last thing you want is for the transaction to drag out with a lengthy stay on the market, multiple price reductions, and a revolving door of potential buyers. Although you cannot control every element of selling your house, there are things you can do to expedite the process positively. Here are some tips for you to sell your home fast.
Have a Pre-Appraisal
An appraisal is a process of having the home assessed by a professional appraiser to determine its current fair market value. The assessor considers the location, age, size, condition, features, and upgrades to the house and land.
The pre-appraisal accomplishes two things: it helps you gauge the price to place on your home for sale, and it can help you discover ways to increase the value of your home before listing. The disadvantage, however, is that the money you invest in a pre-appraisal comes out of pocket and the appraisal cannot be used later when the buyer’s lender requires the house to be appraised. Read More
Staging your home to sell is one of the most critical projects you can undertake to influence the time frame and financial goals of selling your house. By staging your home, you’re preparing it for showings and increasing the perceived value to potential buyers.
Staging your home involves curb appeal, de-cluttering, depersonalizing, rearranging, cleaning, and decorating your environment, so potential buyers find themselves enamored with the house enough to submit an offer.
You can stage the property yourself, or you can leverage that task to a professional with the experience and insight to get your house in tip-top ship-shape to sell. Read More
Choose the Right Agent
Finding the right real estate agent to fit your needs is challenging. Real estate agents are not hard to find, but they’re not all created equal, and you’ve got to sift through the options until you locate the agent that’s best for you.
You can begin by asking your friends and associates who they know in the real estate business. Word of mouth referrals often work best because you get honest, down-to-earth opinions of the services provided. But if the people you know don’t have recommendations, you can turn to social networks and internet search engines for suggestions.
The real estate representative you hire to sell your house should specialize in your area, in the type of property you’re selling, and should have excellent communication skills and work ethic. Don’t be afraid to interview agents until you find the one that’s best for you.
Price it Right
Pricing your house to sell isn’t as easy as plucking a random number out of the sky. But it’s also not as simple as calculating your original investment and slapping a profit on the top. Nor can you place a monetary figure on sentimental value. So how, then, do you know how to price your house?
You can begin your explorations into understanding how to price your home with a free online home valuation calculator. Although far from accurate and not intended as a fixed answer, these tools can get you started with an educated guess based on data. The calculators process your location, square footage, and age of the house, but lack the human factor of being able to assess condition, upgrades, landscaping, and other elements used to determine the value of your property. That’s where your pre-appraisal comes in.
Compare your pre-appraisal with the suggestion produced by the online valuation. How close are those two numbers?
Your next step to pricing is to consult with the real estate agent you hired. Your real estate representative will supply you with a comprehensive market analysis, commonly referred to as a CMA. This report displays recently sold homes in your community that are similar to yours in size and stature. The information includes the asking price vs. selling price, number of days on the market before selling, and the number of times the price was reduced leading up to the sale.
Combine all of that information to best gauge how to price your home to sell quickly.
Market Your House to Sell
You can rest assured that the real estate agent you hired will have a marketing plan for the sale of your house. Talk with your agent, so you understand what efforts he or she will be investing – such as print fliers, social media posts, MLS listings, emailing an existing database of buyers whose criteria align with your home. But that doesn’t mean it’s a good idea for you to rest on your laurels and leave the work in the hands of your agent. Even though your agent will market your home, you can still give the effort a boost. Talk with your neighbors to let them know you’re selling. They may love the opportunity to have their friends or relatives move in next door. Post an update to your social network profiles, so others know that your house is up for sale.
Offer a Home Warranty
Buyers are cautious and leery of fix-it projects, expensive repairs, and unforeseen mishaps with the house they buy. Purchasing real estate, as you know, is a considerable investment with significant risks. You can help set the minds of buyers at ease by including a home warranty with the sale of your home.
A home warranty may cost you between $300-$500 out of pocket (give or take), but that investment could be the key to receiving an offer you can’t refuse. The warranty gives the buyers the assurance they need that you won’t leave them holding the bag should something go wrong with the house during the first year after its sold.
Allow for Various Forms of Financing
There are many ways to skin a cat, so they say – and the same goes for financing a home. Buyers have access to an array of financing options including conventional loans, FHA loans, VA loans, and even seller-financed loans. Don’t close the door on certain financing options without fully understanding the details. Some sellers are concerned about certain types of funding because they feel at risk, but this isn’t always the case. Talk with your real estate agent for a thorough understanding of various types of financing buyers may use for the purchase of your home.
What a perfect world it would be if several buyers submitted competitive offers on your home, but things rarely work out that way. Realistically, you’re more than likely going to receive one or more offers that include contingencies, adjustments to terms, and prices that vary from your asking price. Your real estate agent will help you understand and negotiate terms so that you and the buyer find yourselves in a win/win situation. But be open-minded, don’t reject offers just because they don’t align perfectly with your ideas about how the transaction should work out.
There are plenty of things you can do that will help your house sell quickly and for the highest price; you don’t have to sit idly by with fingers crossed, hoping for the best. Have a pre-appraisal. Stage the home for showings. Choose the best real estate agent. Price the home competitively from the start. Assist your agent in marketing efforts. Include a home warranty. Allow for various types of financing, and be willing to negotiate offers.
Call the The Laura Castillo Group at 432-701-0506 to discuss buying or selling your Midland home.