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8 Things You Should Know Before You Sell Your Home

8 Things You Should Know Before You Sell Your Home

When it is time to list your home for sale, there are a lot of things that instantly get thrown on your to-do list. Your phone starts ringing a lot more often, you have strangers in your home all the time, you are constantly having to clean, and on top of all that, you are busy with trying to find a new place to live once your home sells.  Lots of first-time home sellers do not quite know what to expect when they are ready to list. This list will help you to be prepared for the chaos that is selling your first home.

 

  1. Be honest about the condition of you home.

When you meet with your agent to discuss any existing or past problems with your property, it is important to disclose them upfront rather than waiting for them to come out once you have a buyer. The more honest you can be in the beginning, the better. If a buyer finds out about hidden issues once they pay for an inspection, they are much less trusting and wary of moving past the due diligence.

  1. Your house will need repairs.

It does not matter how old your home is or how recently you renovated. You home will require some money and some work to get it sold. It doesn’t mean that your house isn’t “move-in ready,” it just means that there are things that you have come to live with as the home owner that a new buyer would prefer to be in a different condition.

  1. Renovations will not always give you a dollar for dollar return.

Watching shows on HGTV can give you a false sense of the market at times. If you have an outdated bathroom or a kitchen with original appliances, gutting the entire space to put in a top of the line cabinetry, fixtures, and hardware will not help if it doesn’t match the EXACT taste of the new buyer. A good rule of thumb when renovating a home about the go on the market is to focus on what needs repair and what need neutralizing. If it’s not broke, don’t fix it. 

  1. Don’t overprice your home.

It is very tempting to price your home at top dollar and test the market and to ensure you aren’t leaving any money on the table. Especially if the market is strong for sellers. But you will end up hurting yourself in the end. By pricing your home right from the start, you will be able to grab more potential buyers’ attention, have more showings, and potentially multiple offers. If you price too high to start, you might cast your net outside of the market and turn away potential buyers. You will have your home listed longer than you planned and potentially have to reduce your price. Once a reduction is made, buyers often think there is something “wrong” with the home.

  1. Cleanliness matters. A lot.

When you are going to have potential buyers in your home, it is incredibly important that your home shines inside and out. Many people attempt to take on the task of a “for sale cleaning” on their own but it is highly advisable to spend the money to hire a team of pros. They can focus on the details that you might miss as someone that lives in the house every day.

  1. Home sales take time so be patient.

Sometimes you get an offer very quickly and sometimes it takes a few weeks. Once you do have an offer, you have to go through the initial negotiation period, due diligence, waiting for your buyers to secure their financing, sometimes an offer can fall through and the process starts again. The process of listing your home to collecting your check can take anywhere from 60 days to 120 days on average. Be prepared for the long haul.

  1. Your agent is your ally.

Tensions can get high when you are selling your home. Your agent is there to make sure you have all the information you need to make the best decisions possible. If they tell you something you disagree with, that’s ok. You ultimately have to make the choices that are best for you and your needs. Butting heads and having a combative relationship with your agent will only hurt you in the end. When they tell you something you don’t want to hear, remember that it’s not personal. Selling your home is a business transaction.

  1. It takes work.

Selling your home is not the quick venture that it might seem like on TV. Television shows can sometimes give people a false sense of what is expected to sell their homes. It takes time, patience, teamwork, a good pricing strategy, and a realistic outlook. If you are mentally and physically prepared for the challenge of selling your home, you can have a great experience and walk away with exactly what you want!

 

 

 

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