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Getting Your Home Sold.

Instead of working directly with a real estate agent, some people prefer to sell their home themselves. This may seem like an appealing idea but you need to be prepared to put in a lot of work! Whether you decide to sell personally or with a realtor by your side it is important to know the process!

Looking to Sell Your Home?

Know Your Property like the Back of Your Hand!

In order to sell your property, it is important to know the facts about it. Knowing details such as property taxes, lot size, square footage, etc, will allow you to provide the proper information for others looking to buy. This also includes the surrounding area, school districts, shopping, restaurants, and transportation.

Pricing is Key!

Researching the prices of homes similar to yours will help set your price mark. It’s also important to know any property disclosure laws you must follow. If you price your home too high you will miss out on the “new property appeal” in its first 45 days on market. If you price it too low, you could be leaving money on the table. Finding the right fair market price is essential for an optimal top-dollar result!

Preparing Your House to Sell

Walking through your home and noting anything that may need to be fixed or touched up is a great way to prepare your property for open houses. The better shape the house is in, the better it will sell! Simple as that!

Outside Checklist:

  • Is the paint chipping or fading?
  • Is the yard well-kept (hedges trimmed, lawn mowed, etc.)?
  • Are the windows and doors clean and well-kept?
  • Is the driveway and sidewalks pressure washed?
  • Is the garage door in good condition?
  • Is the roof in good condition (without leaks, gutters cleaned out, etc.)?

Inside Checklist:

  • Is the paint chipping or need a renewal?
  • Do all the appliances work?
  • Check whether the electrical and plumbing are in good condition.
  • Is the flooring in good condition?
  • Make sure the lighting is sufficient in each room.
  • Is the home clean throughout?

Timeline & Budget

Sometimes it is easier to write out what needs to be done in the home before going to Home Depot and starting your projects. Planning like this will help you stay on track before the open houses begin. Budgeting is a key part of this as well. Prioritizing what you can and cannot fix will help you manage your time and money efficiently.

Marketing Plan

The first question to ask yourself is how much are you able to spend to sell your house? Take into consideration real estate commission, closing agent fees, prorated costs (property taxes, HOA fees, etc.), inspection costs, and advertising costs.

Nowadays the internet has many places where you can advertise your home that will reach local buyers and buyers out of state. If you only put an ad in the newspaper your homes advertisement will only reach locals. Many people buy from out of state because they need to relocate so advertising online is a key component in order to sell your home. Facebook, Instagram, and Google ads are key components to expanding beyond your property’s organic reach!

Designing Your Ad

Before designing your ad you will need to take pictures of your home. High quality professional pictures are CRITICAL! Seriously, do not cheap out and cut corners on this. These pictures will determine whether someone is interested in buying your home or not. Consider decorating it yourself or professionally staging it to improve potential buyers first impressions. An empty house will not keep the attention of a potential buyer but a nicely decorated one will. Now you are ready to take your pictures! If you choose to take them yourself, make sure to use a newer phone or ideally a DSLR camera.

To accompany these pictures it’s recommended to write a few sentences about your home and its amenities (near school district, square footage, etc.) These little details will make a huge difference to a buyer! For Zillow, make sure to fill out the “What I love about this home” section.

Purchase and install the “for sale” sign! If you are working with a realtor they will provide this. When you go to buy this at Home Depot or a store like Walmart, it’s a good idea to buy 5-10 open house signs as well!

Design a Fact Sheet

This sheet will contain important information about the house and pictures. They can be used as flyers and handed out during open houses. However, if you are working with an agent, they should do this on your behalf.

Contact Financial Alternatives

By contacting local lenders you can provide possible options to a prospective buyer. This will not only help you sell the home but will also answer any questions the buyer may have. When possible you always want to add value to buyers!

Open House Schedule

Most open houses are held on the weekends so more people will be able to come and view the home. Just make sure the home is clean and decorated during these times! You may need some odor eliminators if you have pets because that can be a big turn off for people when they walk in the door.

Don't Loose Contact

Keeping a list of the names and numbers of potential buyers will help you eliminate people who aren’t serious about purchasing. Make sure you follow up with these buyers to make sure they have not forgotten about the property. Similarly, when you receive an offer you will want to double back with all of those potential buyers to see if they would like to submit one too! If they do, now you are in a multiple offer situation and can ask all offers for their highest and best. It can be risky, but also very rewarding financially.

Negotiate

Negotiating is an important step when selling a home. Emotions may try to get in the way, but you can’t show them if you are seriously trying to get the most out of your home. As a rule of thumb, it is very hard to win a negotiation you cannot walk away from. Even if you can’t, try not to show it!

Wrapping It All Up & Moving Out

As the seller you are required to provide multiple forms and addendums to the buyer, depending on the type of property you are selling. These forms can be found at your local Board of Realtors or the Agent representing you. It’s beneficial to review these forms before handing them over to the buyer so you are aware of not only your rights but the buyer’s rights. Make sure to fill out the seller’s disclosure in its entirety and do not leave anything off it! Lying on that sheet or omitting something you knew about opens you up to serious liability. Consult a trusted real estate professional for more info!

After signing several forms the buyer or buyers need to come to a written agreement with you in regards to price, inspection, financing, closure, and closing date. Real estate is one of the top industries for scammers; make sure you have an experienced professional read over your contract before you sign anything!

Along with the purchase agreement, a final walk-through will take place. The buyer and a witness must confirm that the house being conveyed meets the standards of everyone present. Basically, the purpose is for the buyers to ensure that the condition they initially saw the house in is the same condition at the time of purchase. If you agreed in the contract to convey the appliances, but end up removing them, the buyer will find that out in the final walk-through. Make sure to abide by the terms of the contract! Now that the house has been sold you are able to move out and into a new place!

Feeling a Little Overwhelmed?

It’s normal! There’s a lot that goes into strategically getting your home sold for top dollar and in the desired time frame. That is why having an experienced, organized, and highly trained real estate professional is highly recommended. Please email or call me directly to discuss these matters in greater detail.

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