6 Tips for a Successful Home Sale
If you are looking to sell your house and have time to go through a “traditional” home sale (through a real estate agent), you will probably generate the best return on your investment. Just know it will take some time and may cost you some money to get your house ready for an open market sale.
With this in mind, here are 6 tips from PropertyLark to help you get more out of your home sale:
1. Make Repairs
If you know your house needs certain repairs, it is best to make them before you put it on the market. You legally have to disclose any known damage when listing the property. Either way, a home inspector is going to uncover anything that isn’t right with the house when you get to that necessary step in the closing process. This could delay the sale or get the contract cancelled completely, which could leave you right back where you started. Making repairs before you list the property will help you avoid problems down the line and also allow you to get more value out of the home. Buyers will generally pay more for a house that has recent repairs and upgrades. This includes simple things like adding a fresh coat of paint or new carpet/flooring if the old surfaces are run-down.
2. Staging, Cleaning and Decluttering
If you want to sell your house on the open market, you will need to keep it clean and organized. Decluttering is usually a good idea. Don’t have a bunch of knick knacks and stuff lying around. Keep your living spaces open, so they are more inviting and the house seems roomier. If every room is packed with junk and everything is dirty, then it looks like a junky house to the buyers. Some Realtors® will recommend professional home staging of the property to show it in its best light. This may include bringing in different furniture or rearranging the rooms to make them look appealing to more buyers.
3. Depersonalizing the House
Part of the staging process is usually taking steps to depersonalize the house. You are proud of your family photos, trophies, furniture and décor. You love that stuff. Not every buyer will. It’s a good idea to take some of your personality and style out of the home. Keep the colors and décor neutral. The goal is to get prospective buyers to imagine themselves living there. If it feels too much like someone else’s home, then that feeling is harder to achieve.
4. Setting Your Price Range
Before you go into a home sale, you want to set a realistic and agreeable price range. This helps you set an ideal asking price. Obviously, you want to sell the house for as much as you can, but it’s really easy to price yourself out of the market if your listing is overpriced. Do your research and ask your real estate agent to help you set a fair price. Ultimately, you should have a range where the lowest amount is still an acceptable price and then the highest amount is if everything works out perfectly. The asking price (and usually the final sales price) will be somewhere in between.
5. Be Patient
Selling a house—especially in a traditional home sale—takes some patience. It takes time to get the property ready to be listed and then it takes time for showings and review of any purchase offers you receive. You usually don’t want to accept the first offer you get unless it’s beyond your expectations. Be patient and select the best offer that comes your way. The average home sale takes 2-6 months to complete, depending on the market and other factors. Remember, there is also a closing/escrow process that needs to take place after an offer is accepted. This is when the buyer’s loan is finalized and all the final details of the transaction are completed through the title company.
6. Consider Your Options
Selling through a real estate agent is surely the most common method for selling a house, but it is not your only option. You can consider selling the home yourself as a “For Sale By Owner” deal, or you can also look into selling it to a real estate investor. An investor will bring cash or other solid financing to the table, and they may be willing to work with you on creative financing options depending on your situation. Cash buyers are usually buying properties in as-is condition, so you don’t have to worry about cleaning or repairs. These transactions can also close a lot quicker, taking weeks to complete rather than months. The final selling price will be lower than in a traditional sale. However, you may be saving enough time and money to make it well worth your while. If you are wanting (or needing) to move quickly for any reason, or you just don’t want want to deal with the traditional real estate process, then a cash or financed sale/lease to an investor may be the right move for you.
It’s important to explore all your options and do whatever you need to do in order to get the most out of your home sale. If you are thinking about selling or needing to sell soon, contact PropertyLark. We can get you a no-obligation cash offer on your property within 24 hours, or we can help you look into other selling or financing options based on your specific situation.