Things You Should Consider When You Are Selling A House For the First Time
01 September, 2018
Selling your house might become a necessity at one point during your life. Many families become larger and discover that they need a bigger home as well. However, purchasing a new house also means selling your current one.
However, this process is not that simple, especially when you are doing it for the first time. We have a couple of tips that should make things easier for you. Let’s take a look at them.
Set the right price
This is the first step, and it is vital. Your house needs to be priced accurately. A small amount will make you lose money, while a price that is too large will keep buyers away. You will need a listing agent in order to price your estate.
If you can, hire an agent that sells other houses in your neighborhood as well. He or she will be able to estimate the value of your home by comparing different sales. You need to hire a person who has plenty of experience in order to receive an accurate market analysis.
Don't trust any online websites that claim to price houses accurately. It is impossible to set the price for the house without researching the area first. Using the home assessed value in order to price your estate is not a good idea either.
A good strategy could be listing your house a bit below its value but then waiting for a while before accepting bids. It is recommended to hold an offer for a week while showing it to groups and doing open houses.
When you sell your home, you should be aware of the closing expenses as well. There are some fees that you will need to take care of, such as the brokerage fees. When it comes to real estate agents, their commissions are usually negotiable. There are other costs that will occur as well, such as transfer taxes or the price of an instrument survey.
You don’t have to wait
Everyone knows that the best selling season takes place in spring and summer. However, if you really need to sell your house, you don't have to wait until spring. Since there aren't many offers during fall and winter, there is a significant chance that your listing will attract the buyers' attention.
According to a 201 report realized by the National Association of Realtors, 88 of buyers use the internet when they are looking for a home. Therefore, the way you present your house online can be significant. Try to include specifics and avoid phrases that have been overused by sellers.
Get some professional help
If you feel that you are not able to go through this alone, perhaps it is better to have someone else sell your house. You can hire a Realtor in Fort Worth, and this entire thing will be taken care of. While it is definitely more expensive, you will also manage to sell your house for the best possible price. Not to mention the fact that you won’t have to waste time trying to find a buyer.
Before you choose a real estate agent, you will need to do some research on your own first. Start by looking at track records and see what kind of experience this individual has. It can also help to discuss with previous clients and see if they were satisfied with the services that were offered.
Photos are important
When you take pictures of your house, you must make sure that they are professional ones. An agent can take care of this for you as long as you hired a professional one. You might want to hire a photographer. You should use high definition images, with powerful colors and good angles. You can even set a virtual tour online.
Finding the right moment
Listing your home is something that needs to be done at the perfect moment. There is a certain period that is recommended for each house. In order to find the best day for your home, you will need to take into account various factors, such as the weather, the community, and many others.
Look at your home listing
Once your house appears on various websites, it is recommended that you review the listing from time to time. Make sure that all the information presented there is correct, and if there is anything that is missing ask to fix that error.
Hosting an open house can help you sell your home a lot quicker. Obviously, this is not possible when it comes to every home. It might help to allow an open house if you live in an area where there is a lot of traffic, as it is more likely that visitors will be attracted. You might also advertise the open house online if your agent agrees.
Prepare your house
If you want to sell your house quicker, you have to consider home staging. It is very important to prepare your home for the sellers. As soon as your house is listed for sale, you should be ready to show it to buyers. If there are any minor repairs that are needed, take care of them.
Additionally, a fresh coat of paint can improve the aspect of your house dramatically. There are other low-cost improvements that you can consider as well. For example, you might choose carpeting, or you can replace old light fixtures.
Removing most of your furniture is also recommended. It will make your house appear larger, and it will allow possible buyers to see how much space they can have. However, leaving some pieces of furniture is great for home staging. Mowing the lawn or taking care of the garden are also things that can lead to a good first impression.
Determine your priorities
Before you sell your house, you should decide what you want. For example, is it more important for you to get a higher price or do you just want to close this as quickly as possible? You need to answer these questions first so that you will know what the things that you should focus on are.
Buyers might need some space
Home showings are essential when it comes to the whole house selling process. However, you might need to make certain compromises. Buyers like it better when they can analyze the house in peace. In most cases, your presence won't be needed, and an agent is enough to guide them.
If you can, try to go away for the first few days so that the buyers can tour the house without feeling intimidated by your presence. Your agent will also appreciate it if you don’t interfere with the tour.
Decide what you are going to do next
Don’t focus solely on selling your home. You should know exactly what you are going to do after this. You will need a place to stay after your house is sold, so make sure that you have that prepared. If you want to a buy a new home, remember that this process takes time, so it might be a good idea to tour houses while you are still selling yours.
See if you can get pre-approved for a mortgage in order to buy a new home before you sell yours. It is a bit complicated to buy and sell a house at the same time, but you can do it if you concentrate.
Listen to your agent
If you hire a real estate agent, it is recommended that you listen to him or her when it comes to preparing your house. Your agent is a person that has a lot of experience from previous sales, so their advice is important.
You might receive tips when it comes to furniture, clutter or home staging. Do your best to respect the advice you get, because it can prove to be extremely useful. If you are on a budget and you can't make many improvements, you should discuss with your agent and find a solution together.
If you receive a purchase offer, make sure that you respond quickly to it. In fact, most offers expire after a certain date. Whether you are accepting the offer or you are issuing a counteroffer, it is important that you respond promptly. The buyers are just as anxious as you waiting for a response.
Understanding the market
One thing that you must know about the real estate market is that it is different for each neighborhood. You will have to analyze the current state of the market before listing your house. The time of the year can also influence the market.