10 relevant facts about Real Estate selling…
July 11th, 2018
Selling your home is not as easy as you think it could be!
There comes a time in life when you would wish to sell your home, and for various reasons. Whatever the reason be, selling your home requires preparation in certain aspects and also on finding the right buyer. Prepping your home for a good sale is all about undertaking few measures and yes, it helps to be in the buyer’s shoes. We have listed a few relevant facts you will need to have in mind before selling your home –
Home, clean home: Well, first and foremost it is all about having your home cleaned making it look neat and organized. Do away with the clutter and the excess baggage, your home should look presentable to your potential buyers. Also, repair the damages even if it is small. Small cracks in the walls and tiles will do you no good, they will in fact, deter the buyers and the agents who you might hire to re-sell. Clean and well-maintained homes bring in the bucks while dirty homes burn a hole in the pocket.
Pricing it right: It is indeed tempting to overprice a home, who does not need an extra buck? As a seller, you would want to make as much as possible. But the question here is, are you pricing it right? It is important to ask this question because as a homeowner sometimes you could miss out on some good buyers purely because of the pricing. Never under-price your home, but yeah, never overprice it too. Right pricing brings in the most qualified buyers while helping you sell your home quicker.
Complete internal repairs: Internal repairs concerning doors, windows, kitchen sink, faucets and other equipment must be completed before you invite a buyer or even a broker. If the buyer detects an internal repair, there is a chance she/he might outrightly reject the place or bargain for a lower price. Brokers and buyers will see an incomplete home as an opportunity to knock off a considerable amount from the listing price. Do pay extra attention to your bathroom, sometimes, it can make or break the deal!
Keep home neutral: Good to have a neutral look for your home while presenting to buyers. Do away with bold and bright colours, extravagant furniture and some of your hunting treasures mounted on the walls. What you like may not be liked by your prospective buyer – preferences and likes may vary with each buyer.
Home listing matters: In a digitally inclined world of today, listing your home on popular property sites helps a lot. Nowadays, you have property search engines or websites that showcase homes based on pricing and location, at the click of a button.
Overpricing your home in an area where the average price per sq. ft. is considerably lower can create a disadvantage. In fact, when you overprice your home it automatically helps other listed homes in your area sell quicker. Also, ensure your listing is among the top searches, getting yourself listed at the bottom can put a doubt in the buyer’s mind about the quality of your home.
Let agent do the talking: Unless you have the experience of being a good host and a good negotiator it makes sense for you to leave the home inspection routine to your agent or broker. Potential buyers generally like to inspect the home in quiet, without much interference. In your absence, buyers will also get a chance to envision themselves as homeowners and open up their minds to your home. Let your agent be the guide and do the talking.
Prepare for negotiation: Once the buyer shows interest in your home, be prepared for a little bit of negotiation. After all, who wouldn’t want to save on some bucks? Be a little bit flexible on the pricing if you think you found the right buyer, good buyers do not create trouble during and after the sale.
Be prompt and sign-off: Once you have reached a consensus with the buyer, be prompt in the rest of the proceedings. Do not delay with regards to more information sought by the buyer or with the necessary paperwork. Have all the documents in place, upon complete payment you can hand over all the relevant documents without delay.
Know your buyer(s): Even before you begin the home prepping exercise it is important for you to know the buyer’s background and his or her financial ability. If your potential buyer is financially incapable, you will only waste time. Let your agent conduct an enquiry and get this sorted even before you invite potential buyers.
Move out, on time: Once the deal is closed and the date for handing over is decided, ensure you move out on time or even before that. Clear all your belongings from the home and leave it as clean and as presentable as possible. A delay in moving out might create an unfavourable impression in your buyer’s mind, do not leave room for such an impression.
Selling your home can be a tedious process from renovations to repairs to documentation and inspections. Prepping your home well in advance will help you save on efforts and time while helping you showcase your home in a presentable manner to potential buyers. In fact, experience suggests that home buyers will want the home to look as new, as good and as steady as a newly built one. In order to achieve this, it is important that as a seller you might want to think like a buyer to match the expectations, then, selling your home becomes that much more easier.