Are you selling a home? If so, you need to know that you could be your worst enemy.
Many home sellers are surprised to learn that they are the ones sabotaging their ability to sell their homes quickly and for a good price. When you're selling your home, make sure you avoid these mistakes that could hinder your home's sale and push buyers away.
Selling your home can be a stressful time, and this is definitely a process you want to see come to a fast conclusion. By avoiding these five common problems, you will have much greater success selling your home quickly because you won't be standing in your own way!
You've scrubbed every surface, trimmed the hedges to perfection, and baked some cookies to make your home smell warm and inviting, but there's a problem.
Every time someone comes to view the house you're trying to sell, the first thing they notice is the unkempt mess next door.
If you're selling your home, you have enough to worry about without adding troublesome neighbors to the mix, but sometimes life just isn't fair. Luckily, there are plenty of ways you can smooth things out with your neighbors and get back to more important things — like selling your home.
Selling your home is hard work, so don't let pesky neighbors hold you back. From noise problems to unruly lawns, patching things up with the folks next door will make the process of selling your home infinitely easier.
Do you love your house, but not necessarily the chores or costs that come with it? Are you living comfortably, but you'd like the luxury of a bigger budget or a different lifestyle? Selling your home and moving into a smaller space might be exactly what you need. Unlike the board game that goes by the same name, real life isn't always about the size of your house. In fact, sometimes downsizing is the smartest way to upgrade your life. Instead of measuring your success in square footage, consider these advantages of downsizing your real estate investment.
Downsizing Means Decluttering
Clutter can accumulate in any sized space. However, if you've lived in a big house for years, it's easy to misjudge how much unused — or downright useless — stuff is filling your home. Downsizing gives you a great excuse to declutter and get rid of everything you don't need, use, or like. Do you have unworn clothes hanging at the back of your closet? Time to donate them. How about that extra furniture filling your crawl space? Time to get rid of that too. Even old documents, photos, albums, and videos can be digitized to downsize your storage needs and decrease the risk of damage.
Of course, some of your unused belongings may still have value, so consider selling furniture, appliances, books, jewelry, clothes, and anything else that is still functional. You'll have extra money for your next chapter, but the real benefit is psychological. Stowing things away "for later" creates a pattern of excess and clutter, and getting rid of them is a decision to live in the moment. It also helps you focus on the most significant parts of your life and surround yourself with items that truly make you happy or serve specific purposes in your life.
Smaller Spaces Are Cheaper to Clean & Power
When you downsize, it's not just your mortgage payments that get smaller. While this isn't always the case, bigger houses usually cost more to heat, cool, power, and clean. If your utility bills skyrocket every summer and winter, you could be wasting a lot of money controlling the temperature of rooms you don't even use. Extra windows and doors make it even easier for leaks to occur and energy bills to rise higher. Of course, more square footage also means more floors, walls, and windows to clean. All those surfaces require time and money to maintain, even if you outsource the actual chore.
You may be able to afford your cleaning and cooling costs, but why not make room in your budget for more enjoyable expenses? If you'd love to have smaller energy bills and fewer cleaning requirements, consider selling your home and finding a space with fewer rooms. High ceilings, multiple stories, and particularly sunny or dark spots are all energy-intensive, and if you upgrade to a newer space with more efficient windows and electrical requirements, that's even better.
Buying a home you love was a wise investment, but letting go might be just as wise. It's hard to overestimate the value of financial and physical freedom, especially if you're used to certain responsibilities and expenses. But without a big house to maintain or a big mortgage bill to pay, you'll have more time and money to focus on places, people, and hobbies that truly make you happy. Whether you're experiencing big life changes or trying to jump-start a change at long last, consider selling your home and buying a smaller one.
Everyone has a little "clutter" lying around the house — and some of us may have more than others. When you're selling your home, managing your home's look and feel is one of the best ways to maximize your chances of selling quickly and for the most amount of money.
Real estate pros know decluttering allows potential buyers to see your home as "their home" and makes it appear bigger with more storage space. Use these steps to get started:
Decluttering Before You Sell Your Home
Not only can decluttering help you prepare for a move, but it also gives you a boost mentally. You'll be one step closer to staging, and you reduce the amount that you'll need to transport to the new house. In a way, it prepares you mentally to make a change. Decluttering gets you in the mindset to embrace a new setting, and you can make that new setting a new home.
It's true-decluttering is hard, but the rewards you'll reap are more than worth it.
Remember the first time you laid eyes on your home? Your jaw dropped at the beautiful front yard. You were amazed at how all those windows sparkled as you walked up to the door. After you moved in, you thanked your lucky stars for sending you your dream home. You loved your house when you first bought it and knew you would live there forever. Wait a minute... Forever? That's an awfully long time to live at the same address. Here's what to do when you think you've fallen out of love with your home.
There are different reasons people fall out of love with their dream homes. The good news is more often than not, it's possible to identify the issue and fall back in love with your home all over again.
Before selling your home, you need to answer a few questions:
If you've only been in your house for a few months, it's likely that you haven't actually fallen out of love with the place but are simply suffering from either a case of buyer's remorse or feelings of being unsettled. In this situation, the best thing to do is give things some more time. The chances are good that you'll relax and fall in love with your home all over again. If you discover that your emotional detachment from your house stems from it needing work or remodeling, you need to come to a few decisions. You can choose to invest the time and money into making the improvements your happiness relies on, or speak to a real estate agent about selling your home. It's important to note that sometimes finding your dream home means making improvements.
If you decide that it's not your house but rather something else triggering your sense of dissatisfaction, look around the community. You may find that it holds the secret to helping you feel fulfilled. The odds are that there are volunteering opportunities and clubs near your home to help you fill up your life and feel happier.
If you absolutely can't stand the idea of spending any more time in your house, then it's time to talk to a real estate agent about selling your house. When shopping for a new house, remember the issues that caused you to fall out of love with your house and avoid those pitfalls with your next purchase.
When you decide that selling your home is the best solution, always make sure you deal with a real estate agent you trust to get you the best price for the home.
Selling your home? A recent survey showed more than 85 percent of buyers who applied for financing asked for an inspection of the home they intended to buy. Today's savvy home buyers rarely leave things up to chance — they want to be assured they are getting great value.
Despite this growing trend, many sellers still wait for buyers to take the initiative on inspections.
A seller might save a few hundred dollars by waiting until the buyer makes the first move, but this is rarely worthwhile. In fact, there are many benefits to taking the plunge and getting an inspection as soon as you decide you are serious about putting your property on the market.
Let's look at six benefits of pre-listing home inspections:
With all that in mind, selling your home should almost always start with an inspection. It's an essential step, just like making basic repairs, listing your home in the right places, staging it for potential buyers, and partnering with a real estate agent you can trust.
Your home has been your safe haven over the years. As much as your home means to you, it's starting to feel like it is time to make a move. So what should you consider when making the decision to sell your home? Here are six signs that it's time to sell.
Understanding your market, pricing, and new homeowner options will simplify your decision and help ensure you live in a home you will enjoy for years to come.
You might think selling a home is similar to buying one, but they actually have little in common. Buying a house for the first time is something that many of us look forward to throughout our lives. No matter how much you love your first home, there will likely come a day when you're ready to move on to something new.
Selling your home is a totally different experience from buying a home. Buying a home involves feelings and sentiments, while selling one centers on dollars and cents. However cut and dry the selling experience might seem, there is still a period of confusion involved in the selling process. Many first-time home sellers have no idea where to start. Here are some of the most important tips for first-time home sellers to help you get started.
Just as with buying a home for the first time, you can remove a lot of the mystery from the equation by taking the time to read, study and learn. There's a lot to learn from your real estate agent and other experienced home sellers. Since you're here, it's safe to say you're already taking steps in that direction.
One advantage of selling your home for the first time is that you'll likely have experience sitting on the other side of the table as a buyer, so you'll already have some idea of what to expect. With a willingness to keep learning and the help of an experienced real estate agent, you'll be ready to tackle the process of selling your home for the first time.
Getting ready for a home inspection is one of the more nerve-wracking things about selling your home. The good news is that you don't have to wait until after the inspection to fix some of the most common trouble spots.
There are certain spots in a home that every inspector will check. Focusing on these issues now is the best way to maximize your budget and your chance of a favorable inspection result.
Investing the time and resources to repair these problems now will save a lot of stress in the long run and will likely save you some money at closing time. Better yet, a positive inspection result puts you one step closer to turning your dreams of a home sale into a reality.
Selling your home? A successful open house is essential to attracting the right buyer. A truly great open house takes time, and it goes beyond popular ideas about "staging." Use these proven techniques to make an impression:
Ask your real estate agent for more tips on how your open house with wow buyers. That way, you'll know you're on the right track.
Once you've decided to sell your home, there is one question that looms large, hanging over your head like a heavy weight. What am I going to do with all this stuff? The question is especially relevant if you will be downsizing into a smaller house.
If you have lived in your current home for an extended period of time, the problem may be just that much worse. The accumulation of life's stuff is easy to put out of sight and out of mind during the day-to-day bustle. But when it is time to start packing and getting a home ready to sell, it can be like an avalanche bursting forth from every corner.
What's the best way to start downsizing your life and do it efficiently? It may sound easy — keep the stuff you need and purge the stuff you don't — but if you aren't careful how you do it, you can create more problems for yourself than just having too much junk.
Take your new uncluttered attitude with you into your new home. Recognize clutter culprits in your old home and take pains to reduce what can build up in your new one. The easiest stuff to get rid of is the stuff you never accumulate.
If you're planning to sell your home, consider staging it. From decluttering and cleaning to rearranging and styling, successful home staging can make you money. In fact, according to the National Association of REALTORS®, most sellers' agents agree a well-staged home increases the dollar amount home buyers offer.
If you are an HGTV fan, you know home staging is when the "pros" go through a home clearing out the clutter, highlighting its strengths, and presenting each room in the best light that will attract the largest group of potential home buyers.
But, do you need to hire a professional stager? Maybe not. Use these six tips to manage the styling and upgrading of your home to fetch a higher sales price.
In a competitive market or in a situation where you need to sell your home quickly, staging is the key. Keep these tips in mind, and don't be afraid to talk to a professional stager. Often, the cost of professional staging is made back with a higher sales price and less time on the market!
If you've ever moved and had a stressful experience, or you've heard horror stories from your friends or family when they sold and moved houses, you may wonder if a stress-free move is even possible. The answer is: "You Bet!"
Buying a house is a huge deal. If you've just started house hunting or are already under contract, moving is the next giant step in this process. Moving can be stressful and chaotic. The good news is packing and moving can be relatively effortless with some planning and organization. Use these simple steps to get started:
No matter how you decide to de-stress your moving day, it's important you keep everything in perspective. Don't decide that all your boxes need to be unpacked in one day. Make sure you take time for yourself on moving day to relax and reflect on what you've accomplished.
You love your dog or cat; however, when listing your home for sale, many potential buyers will not be as enamored as you are. In fact, your pet might be the reason some buyers bypass your home entirely and move to another pet-free option.
Here's How To Sell A Home When You Have Pets
The Problem Prospective Buyers Have with Pets
Many buyers will say there are two reasons that prevent them from touring homes with pets:
The good news is that there are things you can do to ensure that your pet and prospective buyers are comfortable.
Relocate Your Pet
You might not like the idea of living without your dog, but it's an option you may have to consider to sell your home.
If you have a friend or relative that is willing to provide a temporary home for your dog, consider their offer. In fact, it will be good for both your dog and prospective buyers. Your dog won't have the stress of strange people coming and going, and prospective buyers will be comfortable while in your house.
Create a Safe Place for Your Pet
If providing your pup with a home away from home isn't an option, provide them with a secure place while prospective buyers tour your property. This can be a neighbor's house, an outdoor kennel, or even an indoor crate. It's important that your pet is comfortable in this area before prospective buyers start walking through your home.
Clean up After Your Pets
First impressions are important during the home selling process. Before prospective buyers arrive, clean your home thoroughly. This includes:
Make sure your pet looks groomed and well-cared for.
Repair Pet Damage
Go over your entire property and repair any damage your family pet has done. This includes:
Consult Your Veterinarian
Selling your home is stressful for you and your pets. It can take a toll on their health, particularly if they're a senior pet or one that already struggles with health issues. Talk to your veterinarian about what you can do to make the process easier for your pet.
Throughout the entire process, make sure your pet knows that they're still an important member of your family.
Before you sink the "for sale" sign in your front yard, make sure your house looks its best with these simple and inexpensive home improvement projects that will help make your home sell faster.
Buyers typically don't want to think about all the work they need to do in their new home. These fixes can help make your home a showstopper and will help move your property faster.
Is the yard a mess? Do the shutters need painting? Have you just cost yourself a contract by making a few simple mistakes. Here is a list of five home-selling mistakes to avoid with tips on how to correct them.
Avoid these common mistakes and you can be sure buyers will want to bite! And don't forget to talk to your real estate agent for even more advice on selling your home.
There's no doubt that you're going to be busy while you work to sell your home, but focusing your energy in the right places will make your life much easier. Better yet, a bit of focused prep can make your home more appealing to potential buyers and ultimately makes it easier to find the right match as quickly as possible. Use this "survival guide" for selling your home to get started.
Your real estate agent will help make sure that people show up, so the most important thing you can do when selling a house is to make sure that your home is always ready to show. That part becomes significantly easier to maintain after you get the initial work out of the way, as long as you keep up with it consistently. With a little teamwork, you'll find the right buyer in no time.
Downsizing frees you from the time, energy, and effort required from living in a larger home.
People have become obsessed with the idea that bigger is better. You see it everywhere: bigger burgers, bigger cars, and bigger houses. It's time to set the record straight — selling your house and downsizing your home might actually be a better lifestyle choice for you.
Choosing to buy a smaller home often has to do with the desire to live a more simple life. If you're trying to decide whether downsizing is the right move for you, here are some benefits to consider before taking the plunge.
Downsizing your home is about doing more with less. Rather than spending your time and energy maintaining a larger home, you may enjoy your life more by living in a smaller one.
Spring is typically the busiest season in real estate. If you're thinking about selling your house, then this is truly a can't-miss opportunity. Buyers are hitting the market in force after a winter of hibernation, curb appeal is springing back, and warmer weather makes it easier to finish chores around the home. Now all you need is to get your home — and yourself — ready for the busy season ahead.
With the right preparations in place, you'll be ready to hit the ground running during the busiest months of the real estate calendar. Selling your house is much easier when you take the time to plan, prepare and put your strategy into action. The right real estate agent and willingness to research on your own are the key ingredients to simplify selling your house this spring.
Home staging highlights the best features of your house and makes it more marketable by giving it a clean, organized, and neutral appearance. It also makes your home more appealing to the greatest pool of prospective buyers.
Hiring a professional stager is a good investment because they have the design expertise and time to get the job done right. If you don't have the budget to hire a professional, follow these six home staging tips to get you on your way.
Making your home shine is a critical component of a successful sale. If you need more tips, your real estate agent will know how to transform your home so buyers will bite.
Many sellers rush to put their homes on the market without giving too much thought to what it takes to grab a home buyer's attention. As you consider listing your home, there are a number of "secrets" you can use to take your house from ordinary to extraordinary in the eyes of homebuyers.
Make your home stand out from the competition by following these selling steps.
A little effort on your part will go a long way to increasing the chances of your home selling quickly. Following these steps can make your home selling process fun and pain-free.
If you accepted an offer with a home inspection contingency, be aware that your buyer is entitled to renegotiate or walk away based on the results of the home inspection. Therefore, many consider the home inspection one of the final hurdles to clear before closing.
Home inspections can uncover all sorts of concerns ranging from minor to significant. While you aren't legally obligated to pay for any repairs prior to closing, failing to fix some essential items can ultimately cause the deal to fall through. Below, we'll focus on what sellers should fix and what concerns you can most likely let slide:
Essential Seller Repairs
If an issue uncovered in the home inspection leads to health or safety concerns or raises questions regarding whether the home is inhabitable, it's reasonable for buyers to ask sellers to address it prior to closing. Some of these more serious concerns include:
Again, while the seller doesn't have to make these repairs, the buyer is within their right to walk away if these aren't addressed. Also, in some cases, the buyer's lender may require that some of these issues are taken care of before the buyer can secure financing, especially if the problems are serious.
At the end of the day, everything is negotiable. If you're in a hurry to sell, you can also offer to lower your sale price as opposed to fixing the issues.
While it's usually good to fix doorknobs, loose boards, light switches, and even paint prior to listing your property, sellers generally aren't on the hook for cosmetic repairs or problems caused by general "wear and tear." As a rule of thumb, you shouldn't worry about any minor repairs that cost less than $100. Buyers will most often prioritize the largest, most serious concerns.
Selling Your Home As-Is
Sellers always have the option to sell a home "as is," which signals to buyers there is no room for negotiation on repairs. This might be the best option if you need to sell quickly regardless of what issues turn up.
Keep in mind, buyers will still conduct a home inspection and can still ask to negotiate the sale price based on the results of the inspection. However, in this instance, you wouldn't be on the hook to finance and manage the repairs yourself.
The home inspection is often one of the most stressful parts of a real estate transaction, and it can be somewhat unpredictable. As a seller, it's not your responsibility to fix every item, but you take care of the major issues. During the process, rely on your real estate agent to help you negotiate the terms and details.
Selling a home is filled with complexities that can be difficult to navigate, especially when going through the process for the first time. As a seller, you should always remember no question is stupid. Asking as many questions as possible can help you avoid costly mistakes, and your real estate agent is there to help educate you about the process.
To help put clients at ease, here is a quick list of common real estate questions sellers are often too afraid to ask:
Selling your home can be a fast-paced, complicated process, and you're sure to have tons of questions along the way. Even if something might seem obvious, don't hesitate to double-check with your agent. Your agent's job is to make your home sale as smooth as possible.
Selling your home is akin to cashing in on your largest investment. If you've paid off your mortgage or built-up a significant amount of home equity, you might be eagerly awaiting that large deposit into your bank account. However, you may want to temper your expectations until after the closing date. Real estate transactions are fairly complicated, and there are many moving parts. Therefore, you most likely won't receive any funds until after loan documents are executed, which typically takes place on or shortly after the closing date. Here is what to expect:
You May Receive An Earnest Deposit
Most offers include an earnest money deposit, which is money provided by the buyer as a sign of good faith and a signal they're committed to following through on the home sale if all contingencies are satisfied. However, the earnest deposit is typically not made available to you until after the closing date, so you won't be able to spend it or deposit it into your account. Rather, it's held in an escrow account and may be returned to the buyer under certain conditions.
The earnest deposit varies depending on the offer but is usually 1% to 5% of the sale price. Once you accept the offer and receive earnest money, you are expected to take the property off of the market and the closing process will begin.
You Can Expect To Receive Payment Around The Closing Date
Real estate transactions typically take 50 to 60 days to finalize, so you'll likely have a waiting period before you receive your funds. The exact date you receive your money actually can vary depending on where you live. Laws and regulations that apply to mortgage closings can vary by state. There are generally two different types of closings:
In either scenario, payment is usually made through a wire transfer into a bank account (usually the faster option) or as a cashier's check.
Selling your home can be an emotional process, and many of us are eager to see the cash return. Just be patient and work with your agent throughout the closing process, and you'll be paid before you know it.
Determining the perfect time to sell your home is never easy, but when the universe aligns, selling at just the right time can ultimately influence the speed of your home sale as well as the sale price. However, defining the right time ultimately comes down to numerous economic and personal factors. The housing market fluctuates over time, and our personal needs evolve throughout our lifetimes. Both are common reasons why the average person stays in a single home for seven to ten years.
If you're wondering if it's the right time to sell your home, here are five signs that could help make your decision:
Your home is your biggest investment, so it's important to make sure the time to sell is right. The decision to sell ultimately requires one to weigh economic factors with person situations.
A bigger and brighter kitchen is always on the list of top home features buyers are willing to move for. For those who love to cook and entertain guests, a nice kitchen is a must-have. As a seller, this means investing a little time and effort into sprucing up your kitchen can be well worth the time and energy.
Because the kitchen is such an important selling feature, we often recommend our clients invest in some upgrades and repairs before listing. While a full remodel may not make sense financially, here are some upgrades you might want to consider this year:
The kitchen is often considered one of the most important rooms of the house when it comes to selling a home. It serves as a gathering place where food is prepared and guests are entertained. Looking at your kitchen through the eyes of a potential buyer will definitely help your home sale.
If you're planning to sell your home, the quality and experience of your real estate agent can have a big impact on your return. Real estate agents can vary in terms of experience, responsiveness, and negotiation skills. Finding one that can work for you can require a bit of research on the front end, but it's well worth the effort.
If you're trying to determine if an agent is a good fit, an initial interview or introductory conversation can go a long way. Not sure what to ask? Here are some important questions that you'll want to cover:
It's always worth taking the time to gauge an agent's experience and professionalism. Finding a good one could ultimately result in more money in your pocket.
If you have a dark, unfinished basement that is primarily used for storage or laundry, you might be wondering if it's worth the time and investment to enhance the space prior to selling. After all, basements are versatile and can serve many different functions, all of which make them an attractive feature for buyers.
While finishing your basement prior to selling can serve as a significant value-add, recovering your entire investment can be challenging. Therefore, it's often not recommended to invest heavily in a new basement, unless you plan on using it yourself for a few years before selling. However, there are many affordable upgrades and enhancements you can do to make the space more appealing:
Sellers shouldn't feel like a full basement makeover is necessary, but keep in mind a little work can go a long way. At the end of the day, you don't want people to dread going down into the basement. Instead, make it a place that is inviting and accessible.
It's a well-known fact that the real estate market cools off in the fall and winter and picks up in the spring, but what is really the best season to sell your property? The answer ultimately depends on your situation and location. The reality is each season comes with its own unique advantages and challenges. To help you determine the best season for selling, we'll break down the top advantage and challenge of each season below:
Many people believe spring is the best time to sell your home, but that really depends on where you live. While spring is often the most popular time to shop, some southern states experience intense weather in late spring. Competition is also at its peak. Here are some of the benefits
Statistics show that late June has the highest number of closings, indicating summer is an ideal time to sell. It's also the most popular time to move, especially because school is out. However, extreme heat in some areas of the country coupled with vacation times can drag out the closing process.
Once school starts, there is a noticeable decline in real estate activity, but that doesn't mean fall is a bad time to sell. There are still many buyers on the market that couldn't secure a home in the spring or summer. Selling in late September / or early October has both pros and cons:
December is often considered to be the slowest month for real estate closings. Cold weather means fewer shoppers in most of the country, but competition is probably at its lowest point of the year. If you live in Florida, Arizona, or Southern California, winter is likely a great time to sell.
It's certainly possible to sell your home any time of the year, and so often the right season depends on your property, location, and situation. Your real estate agent is a great resource to help you assess the market and determine the best time to list your home.
Understanding the true value of a home is critical for both buyers and sellers. A home appraisal is an important piece of a buyer's mortgage application process and is always required by lenders. However, sometimes sellers are interested in conducting their own home appraisal to determine what a home is actually worth before setting an asking price.
While there are some instances where a seller appraisal is useful (and even necessary), they're not always advantageous. Here are some things to know before seeking a seller appraisal.
Examples of When Sellers Should Consider An Appraisal
A buyer's lender will require an appraisal, so paying for your own can be a waste of time and money in many circumstances. Instead, your agent can use comps (comparable nearby home sales) to help set your sale price. However, there are a few uncommon circumstances when a seller appraisal should be considered:
Why A Seller Appraisal Might Be A Waste Of Time
Unless your home possesses extraordinary or unique features, a seller appraisal might be a waste of time for two reasons:
Seller appraisals do have a purpose, but for the vast majority of consumers, they're not necessary. Instead, work with your agent to study local comps and determine the best market price for your property.
Preparing your home for a listing can be a lot of work — from cleaning to staging, you always want to position your home in a way that impresses potential buyers. However, when it comes to home sales, it's the little things that tend to often have the biggest impact. A lot of minor issues that may not give you a second thought may cause a buyer to hesitate before moving forward.
If you're getting ready to list your home, don't sweat major renovations. Instead, your time may be better spent focusing on the little things that can make a big difference. Here are some examples:
Major upgrades and renovations may not be necessary before listing your home. Instead, focus on the small, inexpensive repairs that can have a major impact on the outcome of your home sale.
Living in a home while it's on the market can be inconvenient, to say the least. Clutter around the house can not only make your listing appear smaller and less attractive, but it can also make it more difficult for buyers to envision themselves living in the home. Consequently, decluttering is an essential part of any home staging process.
Sellers living in the home that's on the market must be prepared for shoppers to drop by at a moment's notice. Keeping your home clutter-free 24/7 may seem like an impossible feat, especially if you have children. However, with some planning and practice, anyone can learn to declutter quickly and efficiently. Here are some tips to help:
It's not fun living in a staged home, but by keeping things as clean and presentable as possible, you'll find a buyer in no time. Then, you'll be well on your way to a brand new home of your own.
Staging your home can make a world of difference in the outcome of your home sale. Staging is a proven technique that can home your home sell fast and may even help you net a higher sale price. However, staging isn't always an easy process, especially if you're not experienced. A bad staging job can actually make your home appear less appealing to buyers.
To further complicate things, some of the home staging trends that worked ten or twenty years ago no longer resonate in today's market. In fact, one of the most common mistakes we see is sellers using outdated staging trends. Successfully staging your home often requires sellers to be in-tune with the latest design trends, which is why we always recommend working closely with your real estate agent.
Below are some outdated staging trends you should be sure to avoid when listing your home this year:
Staging is a technique that ultimately helps the buyer visualize the space. Outdated staging trends, personal items, or loud decor can ultimately complicate that mission. If you're struggling to stage your home, don't forget to check out some other local listings for inspiration.
Should you accept the first offer on your home? This is a common question we hear from sellers. On the one hand, you might think it's worth holding out for a better offer, especially in a hot market. On the other hand, rejecting the first offer could be risky.
The truth is there are many instances when the first offer will be your best offer. Below, we'll discuss those reasons as well as give you some tips to consider when making your decision.
Should You Accept The First Offer?
Receiving the first offer is exciting. It serves as confirmation there is interest in the home, and it serves as a reasonable indicator that your home sale may be finalized in the not too distant future. So should you accept the offer or wait for another one to come along?
Unless the offer is significantly below your asking price, you should likely accept it. Here is why:
Tips To Consider When Evaluating Your First Offer
Whether or not to accept the first offer isn't always a clear-cut decision. There are several factors you'll likely want to consider:
In many cases, the first offer is the best offer, and there can be downsides to waiting for better ones to come along. However, if the market is hot, the offer is low, or the buyer has unrealistic expectations, waiting a few days might be worthwhile.
If you're getting ready to list your home, you undoubtedly want to do everything in your power to achieve the highest possible sale price. But selling a home is a complicated process, and there are many variables that influence the outcome of a real estate transaction. The hard part is many of these variables are beyond the seller's control.
This doesn't mean your ability to cash in on your biggest investment comes down to luck alone, but acknowledging what you can't control will better position you to spend your time and energy on the things you can control.
Here are some items that sellers can't control during the home selling process and what you can do instead:
When it comes time to sell your largest investment, some things are simply out of your control. Instead of getting hung up on these details, try to focus on what you can control.
While the real estate market usually slows down in the fall and winter, there is a common misconception that winter is a bad time to sell your home. Sellers should know that this is simply a myth. While the market might look a bit different in colder weather months, selling in the winter isn't necessarily difficult. In fact, there are many benefits to listing your between December and February. Competition is often lower, and buyers tend to be a bit more serious when house hunting.
If you're planning to list your home this winter, below are some shortcuts to help you expedite the selling process:
Selling in the winter may present a different set of challenges, but sellers shouldn't be discouraged. It's not impossible, but you may need to adjust your strategy just a bit.
Putting work into a home you're about to sell may seem counterintuitive, but in some cases, it can land you a higher sale price. However, in other cases, major upgrades can be a sunk cost. So how do you know if a certain renovation is worth your time?
The truth is it can be difficult to know whether renovations will lead to a higher sale price, but this is where your real estate agent's expertise can be a big help. If you're planning to sell soon, here are a few reasons why it's essential to consult with your agent before making any major upgrades or renovations:
While many sellers believe the right time to start working with an agent is when you're ready to list your home, the truth is you can start working with an agent any time. Consulting with one before beginning major upgrades can save you a lot in the long run.
With most home financing based on a 30-year term, selling before paying off a mortgage is a very common practice. So what happens if you sell your home for more than your mortgage balance? Making a profit on a home sale is possible even if you haven't paid off your mortgage. When making a profit, you can use the funds for a down payment on a new home or anything you'd like, really. However, your ability to turn a profit comes down to your sale price and the amount of equity you've built in your home.
What Is Home Equity?
Home equity is a figure that represents the total value of your property ownership. To calculate your home equity, simply take the home's market value and subtract the outstanding mortgage balance and any other liens on the property. The remaining figure is your home equity. There are two different types of home equity:
Determining Your Payoff Amount
In order to estimate your potential profit from a home sale, you need to determine your mortgage payoff amount. Keep in mind, your payoff amount isn't the same as your remaining loan balance. The payoff amount includes any accrued interest since the closing date. You'll most likely need to contact your lender to determine the exact payout amount.
What Happens To Your Remaining Mortgage Balance If You Sell Your Home?
If you sell your home prior to paying off your mortgage, the buyer's funds will first be applied to your remaining mortgage balance and any additional loans against the property. After the mortgage balance has been paid off, the remaining funds will be applied to closing costs, which include agent commission, escrow fees, and taxes. Finally, any remaining funds leftover at this point become your profit.
What you do with your profit is up to you. Most people take their profit and reinvest it in a new home. However, if you're planning to downsize or move into a rental property, you may want to consider saving the money for retirement or investing it. Or, take a vacation — it's ultimately your money.
It's possible to turn a profit on your home sale even if your mortgage isn't paid off. However, your sale price, current home equity, and the amount of time you've owned the property are two factors that will directly influence your profit.
Buying and selling a home at the same time can be an intimidating experience. Lining up a buyer and a new home within a short timeframe requires tons of planning and a bit of luck. However, selling your home before closing on a new one doesn't mean you have to be left without a place to live. Sellers usually have a few different options to explore, including a rent-back agreement.
A rent-back agreement is a good way to buy yourself some extra time after a home sale. However, like most real estate negotiations, they come with benefits and risks. Below we'll explain everything you need to know about how these agreements work and why you might consider one:
A rent-back agreement is an arrangement that allows the seller to continue to live at a property as a tenant after the closing date. During this period, the buyer assumes the responsibility of a landlord. The purpose of a rent-back agreement is to give the seller extra time to find a place to live following the home sale.
The details of a rent-back agreement can be negotiated during the closing process. You'll need to work with the buyer to determine monthly payment, security deposit, agreement length, and utility responsibilities. The buyer's home insurance should cover the rent-back period. It's important to always consult with your real estate agent, lender, and attorney when negotiating the terms.
Depending on the terms and situation, sellers can benefit from a rent-back agreement in a number of ways. For one, it can give you the flexibility to accept a strong offer before having a new home lined up. It can also give you more time to find your dream home as opposed to simply settling for a property out of necessity.
Rent-back agreements can also be helpful if you have kids in school and would like them to finish out the school year before moving or changing districts.
Rent-back agreements have obvious benefits for buyers too — as they can provide supplemental income that can help offset a small bit of the cost of the new home.
Rent-back agreements are generally short, as most lenders only allow a rent-back period of 60 days. While the added time can be a huge benefit, it's not a long-term solution. During the rent-back period, sellers will need to abide by the lease terms set forth by the buyer.
The buyer will also need to assume the responsibility of the landlord. The arrangement may also be less appealing to buyers who are eager to move in quickly after closing.
The major risk of a rent-back agreement comes in the form of determining liability. Determining who has liability for damage or unforeseen circumstances is often part of the negotiation. Usually, the buyer's homeowners policy should cover the rent-back period; however, the seller may want to explore a short-term rental insurance policy to cover personal property.
Rent-back agreements are a common way for sellers to buy more time, but the true benefits will ultimately depend on your unique situation. Not all buyers will offer them, but sellers often have the leverage to ask for them in a hot market.
When listing your home, you want to do everything you can to maximize your sale price. However, when it comes to setting a figure, finding the sweet spot is vital. You don't want to leave money on the table, yet setting the high price tag can number of buyers and ultimately keep your house sitting on the market for far too long.
As a result, the best strategy is to use available facts and figures to come up with an asking price that can be supported by real data. Below are some important factors to consider when setting your sale price:
Nearby real estate transactions, the state of the market, and the expertise of your real estate agent are all important tools when it comes to setting the right asking price. Use a combination of all three to ensure your listing is set up for success.
Renovations, upgrades, and staging make a world of difference when it comes to listing your home on the market. While the kitchen and bathrooms are often top selling points for many buyers, you don't want to forget about the living room.
The quality of the living room is an important selling point, and as a seller, you'll want to create an environment that enables buyers to envision themselves relaxing and spending time with family in the room. To help you achieve this, below are some important living room upgrades that you may want to prioritize before listing your home:
The living room is often one of the first rooms buyers encounter, so it often sets the tone for the rest of the home. Making the proper upgrades are essential for creating an attractive listing and maximizing your sale price.
Selling a home is a relatively rare life event for most people, so it's normal not to know what to expect. When seeking advice from neighbors, friends, or family, it might seem like everyone thinks they're an expert on real estate transactions. It's also common to hear myths and tall tales about the market or the selling process.
As a first-time seller, don't believe everything you hear. Getting caught up in real estate myths can lead to bad decisions that ultimately cost you money in the long run. If you're planning on selling your home soon, be cognizant of these five myths of selling a home:
Selling a home isn't always easy, so arming yourself with the most accurate information is the best way to make decisions that lead to a good return. Of course, experienced real estate agents are often the best source of reliable information about the market.
When you're selling your home, you'll inevitably have to deal with at least a few minor annoyances. However, it might make you feel better to hear that it happens to everyone! Being prepared and knowing what to expect will help you keep your cool as you go through the process. Here's a look at some of the most annoying parts of selling your home.
1. Last-Minute Showings
Getting ready for a showing takes a lot of time and effort, so when a potential buyer wants to see your home at the last minute, it's bound to cause some irritation. It's common to get a call saying a buyer is "10 minutes away," or even worse, is already sitting in your driveway.
Just remember that if it results in a home sale, it will all be worth it. While you won't be able to get everything perfect, just do your best. When you get the call, pick up as much as you can, toss it all in a Rubbermaid container, and put it neatly in your closet. This is the best way to tidy up on short notice. Hopefully, the buyer will understand that they didn't give you much time to prepare and will take that into consideration.
2. Buyers Making Themselves at Home
Sometimes, sellers return to find that the buyers have made themselves at home during a showing. Thankfully, this doesn't happen often, but when it does, it certainly is annoying.
While it's totally acceptable to look inside cabinets and closet doors, when buyers crank the heat, track mud all over, or let their kids run amuck, that's too much. Fortunately, most buyers are respectful of sellers' property. If they're not, ideally, the seller's agent will be able to reign them in.
3. Appointment No-Shows
A no-show is even worse than a last-minute appointment. When you've taken the time to vacuum, dust, light a candle, or even bake cookies, it's super annoying if the buyer doesn't come when they're supposed to.
While it's very inconvenient, it does happen. Sometimes, it's due to an emergency, and other times buyers simply forget or have a scheduling conflict. Unfortunately, this is an issue you may not be able to avoid.
4. Picking At The Little Stuff
Some buyers will be very vocal about things they don't love in your home. While everyone has different tastes, a buyer who loudly talks about how ugly the paint is or nitpicks about small issues may not realize just how rude they're being.
Try to keep a thick skin and remember that this is sometimes tactic buyers use to try to bring the price down. As long as you're confident your home is priced correctly, take their criticisms with a grain of salt.
5. Finding Your Home Lit Up and Open
There's nothing worse than coming home after a showing to find that all the lights are on and the door has been left unlocked. The buyer's agent should take care of everything before they leave. If they don't they're being both rude and irresponsible.
You can help keep this from happening by leaving showing instructions for the buyer's agents. Posting reminder signs that say "turn off all lights and lock all doors" can help prevent you from coming home to this unpleasant surprise.
Even the best real estate agents can't keep all of these things from happening. Unfortunately, it's totally normal to have to deal with at least some minor annoyances while you're selling your home. If any of these things happen to you, just take a deep breath and remind yourself that it will all be over soon!
Many buyers decide if they love a home during the first few minutes of a tour, which is why it's so crucial to make a good first impression. Buying a home is very emotional, and the secret to a quick sale and good return is making the buyer fall in love with the property.
As a seller, there are so many easy ways to attract buyers and make your listing stand out from the competition. The best part is, many of them are inexpensive. Below are some simple tricks to delight buyers when they tour your home:
A little work can go a long way. By taking simple steps to make your home more attractive, you can make buyers fall in love at first sight.
Never underestimate the importance of curb appeal when listing your home on the market. Curb appeal describes the appearance of your home from the street — it's inclusive of your facade, porch, front door, driveway, and landscaping. Your curb appeal is the first thing buyers see when viewing photos of your home online or visiting your home in person, so it's ultimately the key to making a good first impression.
Many sellers incorrectly assume improving curb appeal requires a large investment in landscaping or exterior renovations. The truth is, there are actually many easy, inexpensive things you can do to improve your facade and yard. Below are some quick ideas that can really grab a buyer's attention.
Curb appeal not only makes your home stand out to potential buyers, but it can also increase your home value. You don't have to spend a lot of money to increase your curb appeal. With these tips, you can be well on your way to having the best front yard on the block.
You don't have a second chance to make a good first impression, and this couldn't be more true when it comes to selling your home. People often form first impressions within seven seconds of an interaction or experience. First impressions are key to attracting buyers; in fact, many buyers will know within a couple of minutes whether they're going to make an offer or not. As a result, creating a compelling first impression is an essential part of the selling process.
So how exactly do you create a good first impression when selling your home? These tips can help:
When listing your home on the market, be sure to set yourself up for success. It takes many buyers less than 10 or 15 minutes to tour a home, so you only have a short period of time to make a good impression.
It might be a "seller's market" right now, but it's still a good idea to do everything you can to make sure your home sells for the right price. Getting a pre-listing home inspection is a simple step that can make a major difference. This inspection is paid for by the seller and is typically done before the home is placed on the market. While you might think this is unnecessary, there are several important benefits you'll enjoy. Here are a few of the most important.
You'll Be Able to Make Repairs Before Listing Your Home
Nobody wants to be blindsided when they're trying to sell their home. Getting a pre-listing inspection will allow you to learn about any problems and take care of them before putting your house on the market.
Making simple repairs can help your home show better. You may also save money by giving yourself the time to shop around for contractor options, buy materials when they're on sale, and allow for a longer timeline.
Even if you decide not to make the repairs, you'll have the peace of mind that comes with knowing you won't run into any unpleasant surprises when the buyer's inspection comes in.
It Allows You to More Accurately Price Your Home
If there are problems with your home and you don't want to fix them, you can factor the cost of the repairs into your asking price. Since buyers often overestimate the costs of repairs during negotiations, taking care of issues ahead of time could save you a significant amount of money.
On the other hand, if you have a home inspection that shows your property is free of issues, you may also be able to ask for a higher price.
You'll Enjoy a Smoother and More Efficient Transaction
The last thing you want to do is get into a long negotiation with the buyer after your inspection. When you don't have to deal with haggling over recently-discovered repair needs, you'll go under contract and get to closing far faster.
An inspection that shows a major problem is one of the main reasons buyers walk away from a deal. Since the buyer will receive full disclosure ahead of time, there's also less chance that they'll be surprised by something and change their mind or demand a far lower price.
You'll Gain the Buyer's Trust
Since buying a home is a huge financial commitment, it makes sense that buyers are sometimes wary. By providing your pre-listing inspection ahead of time, you're showing that you're trustworthy and aren't trying to hide anything. This will make the buyer feel more confident and may increase the chances of getting a fair offer much faster.
It Will Make Your Listing More Competitive
While getting a pre-listing inspection is becoming more popular, it's still not done by all sellers. If your home is the only one on the market that has one, your listing will be more competitive. This makes it more likely that you'll receive an offer quickly and at the price you're looking for.
A pre-listing home inspection shows potential buyers that your home is safe and secure. It's easy and inexpensive to obtain one, making it well worth the effort.
Whether you're staging your home yourself or hiring professionals to do it, you should know a bit about lighting. Most staging advice has to do with these three areas:
But what about using lighting to enhance the overall appearance of your home?
Lighting matters because potential buyers are turned off by a dark house. What's more, as real estate experts will tell you, you'll get better offers for your home when it's well lit.
How Lighting Can Enhances Staging
The right kind of lighting will help your home look better in subtle ways. For instance, a tall room will look smaller if the lighting is placed low and doesn't reach the ceiling. Lighting used the right way will make a too-small room look bigger: you can push a wall open by focusing light on it. If a room seems too narrow, you can illuminate the wide sides; conversely, you can train the light on the narrow ends for a wide room.
Lightbulbs: Which Type?
With the right bulb, you can do the following:
A few decades ago, there was only one kind of lightbulb, the incandescent, which might be 40 watt, 60 watt, or 100 watt, and clear or frosted. These days, the choice in lightbulbs can be confusing: in addition to the incandescent, there's the CFL fluorescent or the standard fluorescent (these have mercury so must be disposed of as hazardous waste); halogen (these burn very hot); and LED bulbs — the best choice, as they last a long time and are inexpensive.
Lightbulbs are sold by "colors," which are based on number of Kelvin units: lower Kelvins means more of the yellow light we associate with a cozy and warm ambience, while higher Kelvins create whiter or bluer light. You can choose from Soft White, Warm White, Bright White, and Daylight. Your choice will depend on what you want to accentuate and how.
Here's how the types of lights are most frequently used:
Mastering the fundamentals of staging with lighting is a relatively easy way to increase your chances of getting the price you want for your home. It's worthwhile to make a small investment in lightbulbs and practice your lighting staging skills.
Selling your home isn't always easy. It's a long and sometimes stressful process, and once you get through it, you might wonder, "now what?"
First and foremost, take a moment to breathe a sigh of relief, and acknowledge your accomplishment. Selling a home is a major milestone, and it's worth celebrating. Once you've done that, it's time to consider what comes next.
Many homeowners go into the process of selling their home focused only on how to selling but not on what happens afterward. Once your home has been sold, the hardest part may be behind you, but taking these final steps will help avoid any last-minute hang-ups.
Whether you realize it or not, the kitchen is often the centerpiece of a home. If you're entertaining family or guests, or you're simply closing the day with your evening dinner, odds are these events all begin by cooking in the kitchen. Considering how much time we spend in the kitchen, it makes sense that this space should be clean, organized, and stylish. After all, if you don't like how your kitchen looks or functions, you're less likely to use it and more likely to spend money on meals you could easily whip up at home. That's why it's critical to get the kitchen right when you're selling your home. Here are the upgrades you consider first for making your kitchen buyer ready.
Your budget will undoubtedly affect what upgrades you can do to your kitchen before selling, but there are plenty of repairs and renovations that can be completed at little to no cost. Don't underestimate one of the most important rooms in the house, and use these tips to make your kitchen irresistible to buyers.
If you're planning to list your home for sale, chances are you'll be relying on an experienced real estate agent to help you seal the deal. Both your agent and your future buyer's agent will play an important role in creating a smooth transaction process. In return, agents are usually compensated with a commission based on the home's final sale price. Because agents are only paid after a successful closing, they're motivated to help you sell quickly and efficiently while achieving the best possible sale price.
Agent commission structures can be confusing, and when it comes time for a closing, many clients are unsure how their agents are paid or how to calculate the fees. To help clear up any uncertainty, below are some common questions and answers related to agent commissions.
Agent commissions can certainly be confusing, especially if you're selling your first home. While they may seem like extra fees, it's important to remember that you'll likely recover your costs and more if you're working with an experienced agent.
If you've been thinking about selling your home, there are many decisions you'll need to make. Choosing the right listing price is one of the most important. To do this, you'll need to understand the current market conditions and the value of your home.
Luckily, finding this information isn't as complicated as you might think. Start with these five tips.
Use Free Online Valuation Tools
As with most things in life, you can begin your home value research online. There are many free online valuation tools available, and you can find them by simply typing "How much is my home worth?" into any search engine.
These tools, which are technically called an "automated valuation model" (AVM), use public records and mathematical modeling to predict your home's value. Unfortunately, these resources aren't always super accurate. However, they'll give you a good starting point.
Use the House Price Index Calculator
If you're still in the early stage of your research but you want more accuracy, take a look at the Federal Housing Financing Agency's House Price Index (HPI) calculator. This tool uses a "repeat sales method," which tracks the change in a home's value from one sale to the next. It then uses this information to predict the next value.
There are some drawbacks, though. The HPI calculator only looks at conforming home mortgages and doesn't make seasonal or inflation adjustments. Still, it's a simple way to see how much your home may have appreciated over time.
Request a Comparative Market Analysis
When you're ready to take a deeper dive, it's time to reach out to a real estate agent and request a comparative market analysis (CMA). While this report isn't as detailed as a professional appraisal, it will provide you with an expert's estimate of your home's value.
Many agents will provide a CMA for free or for a nominal cost. However, be aware that there's a good chance they'll do so in the hopes of becoming your selling agent.
Hire a Professional Appraiser
If a buyer wants to purchase your home using borrowed money, the lender will require a professional appraisal. As a seller, it's sometimes a good idea to hire your own appraiser before you list your home. Not only will this help you set the right asking price, but it will also help ensure you don't end up with any unpleasant surprises.
Evaluate Comparable Properties
When determining your home's value, one of the things all of the sources above have in common is that they look at the recent sales of comparable properties (also called "comps"). It's also possible to evaluate comps on your own. However, this is the most complicated option, and it's critical to make sure you're actually doing an "apples to apples" comparison. When looking for comparable properties, make sure they're very similar in terms of location, size, condition, and upgrades.
To do a fair evaluation, you'll need at least three comps. It's unlikely you'll find enough homes that are exactly like yours, so you'll need to make adjustments for differences. For example, if a comp had one more bedroom than yours, it's likely your home is worth a bit less. Making adjustments correctly requires knowledge of market conditions. This quite difficult if you don't have industry experience.
Since pricing your home appropriately is so critical to the selling process, we recommend working with an experienced real estate agent who can help you determine your home's value within a reliable range.
Whether you're buying or selling a home, the sales price is always at the top of the agenda. For sellers, the final sales price affects bottom-line profit and future plans. For buyers, it impacts future expenses for bills, home repairs, and renovations. Before selling your home, it's essential to consider repairs and upgrades that impact your profit and decide whether making them is your best option.
Many homeowners are faced with the dilemma of selling their home in "as is condition" or sinking money into needed repairs and upgrades. To answer that question, you need to evaluate necessary repairs, examine your financial situation, and research local real estate markets to determine the return on your investment.
Evaluate Necessary Repairs
All homes need repairs, but some are more urgent than others. If you live in an old home that hasn't had a lot of upgrades, you may have more costly repairs. Start by walking through the house and making a list of repairs and upgrades that may impact your sale. Any repairs to the foundation, roof, plumbing, and HVAC systems (heating and air conditioning) should be at the top of your list because they bring the highest return on your investment.
Other repairs and upgrades that add value include:
Examine Your Finances
Selling your home means moving to a new location. Whether you're buying your dream home across town, relocating out-of-state, or downsizing in retirement, you must consider moving expenses, as well as other move-in costs such as monthly bills, home repairs and upgrades, property improvements, property taxes, and mortgage payments, unless you pay cash. If you discount the sale of your home to allow the buyer to make necessary repairs, how does that impact your future finances?
Some buyers look for fixer-uppers, but generally that means minor repairs like new carpeting, new paint, and new light fixtures. Major repairs like a new roof, new windows, new plumbing, and a new electrical system are too costly. When major repairs are necessary, a buyer will usually offer a significantly lower price, ask the seller to pay for repairs, or walk away from the sale. Most buyers want a home that's in move-in condition, but you have to make sure necessary repairs won't impact your financial situation.
Research the Local Real Estate Market
Researching homes for sale in your area can help with decisions on making repairs. In most cases, fixer-uppers reflect a lower sales price than homes with numerous upgrades and renovations. You can view homes online or talk to your real estate agent about important repairs and upgrades that boost sales and provide the best return on investment.
Smart sellers weigh the cost of making improvements against the home's market value after improvements are completed. If you notice that most higher-priced homes for sale have upgraded kitchens, that's probably because the return on investment is high. This doesn't mean you have to tear out the cabinets and install top-of-the-line designer appliances. In some cases, painting old cabinets, installing new hardware, and hanging new light fixtures are enough to give your kitchen an updated look.
When you're selling a home "as is," this means you will not make any repairs or offer the buyer any discount to cover the cost of repairs. Based on your real estate needs and your timeline to move, your real estate agent can help you decide whether an "as is" sale or a discounted price is your best option.
Selling a home "as is" is often viewed as a convenient option for homeowners who are looking to move on from a particular property. In some cases, the seller wants to transact quickly or may not have the financial resources available to make the repairs.
Selling a home as is means the property will be sold in its current state — no matter how good or bad the condition may be. In other words, the transaction takes place with the understanding that the seller won't be on the hook for any repairs.
Many believe selling a home "as is" is the easiest way to move on from a property, but that's usually not the case.
Common Misconceptions About Selling A Property "As Is"
Selling a property as is does not mean the homeowner is excused from having to reveal facts about the property, disclose potential problems, or honestly answer a buyer's questions. States have different rules about which details relating to a home's condition a seller must disclose to a buyer; however, in most cases, it's important to disclose what you know.
Additionally, real estate agents are often required to disclose known details about a home's condition including:
Many buyers may also be under the impression that they'll have the opportunity to negotiate repairs following the home inspection. However, if you don't plan on committing to any home maintenance, it's important to let the buyer know upfront.
Selling A Home As Is May Impact Buyer's Perception
An "as is" home sale is almost always perceived negatively by potential buyers, so you may be limiting your market size to investors and home flippers. Additionally, it can signal to buyers that you are desperate to sell the home, which means you'll likely lose negotiating leverage. Buyers that are interested are more likely to try to lowball your sale price. As a result, listing a home as is can prove challenging for both sellers and real estate agents.
Reasons Why You Might Want to Sell A Home As Is
While many would recommend avoiding an "as is" home sale if possible, there are some valid reasons why sellers may want to consider it:
Listing a home can require work and dedication on behalf of a determined seller, but if you are experiencing a situation where you need to list your home "as is", it's a good idea to weigh the pros and cons.
Every home sale is unique and presents its own set of challenges. Working with an experienced real estate agent is usually the best way to determine the right strategy for your property.
As a seller, finding yourself in the midst of a bidding war might sound like a dream come true. Two or more parties trying to outbid one another as the price of your home climbs higher and higher—what could possibly go wrong?
But a bidding war can backfire on you if you're not careful, leaving you with nothing but wasted time and effort. Here's your seller's guide to navigating a bidding war so you come out on top.
What Is a Bidding War?
It's important to understand what a bidding war is and also what a bidding war isn't. A bidding war is when two prospective buyers are bidding higher and higher to purchase a property. This drives up the price of the property, which can be great for the seller.
A situation in which two prospective buyers send in differing offers, one higher than the other, is not a bidding war. It simply means that you have multiple offers. The characteristic that defines a bidding war is active competition between the interested parties.
How Do You Handle a Bidding War?
The primary goal when you're selling your home is generally to get the highest possible price. A bidding war may be a great opportunity to accomplish this goal, but it's also important to be honest with your potential buyers and to remember that the highest offer isn't always the best offer.
Should You Encourage a Bidding War?
It is possible to encourage a bidding war over your property, and there can be real advantages to doing so. While maintaining a good, transparent relationship with your buyers is a top priority, you can stack the deck in your favor to make a bidding war more likely.
By playing your cards right, a bidding war can drive up the price of your home and increase your profit. Of course, to create the prime conditions that might lead to a bidding war, it helps to have a great team of real estate professionals working for you.
If you want to sell your home quickly and for top dollar, staging can make a big difference. However, if you're not careful, it can also get very expensive. The good news is, it's totally possible to stage your home without spending a fortune. Here are some tips for finding affordable decor to stage your home.
Other retailers you may want to visit include Ikea, Wayfair, Amazon, Target, and Walmart. Sometimes, you can even find minimalist accents, like apothecary-style jars or simple white tableware, at dollar stores!
It's easy to create a beautifully staged home without blowing your budget. All you need to do is get creative, use your imagination, and follow these tips. Need some more staging help? Ask your real estate agent for advice!
When you're selling your home, the home inspection is a pivotal moment. It can lead to good news or bad news that potentially derails your sale.
In a home inspection, a property's rooms and building systems are inspected top to bottom by a professional. The inspector produces a full report, including photographic evidence, that outlines the home's defects and any repair work likely to be necessary over the next few years.
It takes about 2-4 hours for an experienced expert to complete the inspection process. During that time, the inspector must have total access to the house, including the attic, basement, and crawl spaces or other hard-to-reach areas. Otherwise, the inspection will not be 100% complete.
Why Is a Home Inspection Important?
The buyer's mortgage lender usually requires a home inspection — the buyer pays out of pocket for the cost, around $200. The inspection helps verify there are no substantial problems with a property, including anything that could make it unsafe or compromise its long-term value.
In rare situations, an inspection can uncover trouble so egregious that the mortgage lender won't go forward with financing. This is most likely if there is a safety concern such as a major fault with electrical wiring. Mortgage programs for first-time buyers tend to impose stricter standards where safety is involved.
Of course, a home inspection doesn't usually shut down an entire transaction!
Much more likely is a situation where the buyer balks. Buyers might ask for a discount on the home's asking price or request that the seller handle some repairs before closing day. Naturally, it can be difficult to finish extensive repairs if you are facing a closing day deadline in just a few weeks.
With that in mind, it's always best for the seller to be proactive. You can get ahead of the game by paying for your own inspection and acting on any discoveries that might give future buyers pause.
What Main Issues Do Home Inspectors Look For?
Home inspectors produce huge, detailed reports — usually in big binders with plenty of photos.
There are certain areas to pay special attention to. The inspector is impartial, but you can be sure you'll hear about it if there are any "red flags" with the potential to bring your home sale to a halt.
When inspection time rolls around, sellers and buyers alike have good reason to hold their breath. By getting an inspection done before you go on the market, you put the power in your hands and avoid unpleasant surprises.
Dog, cat, bird, fish, and beyond – whatever species your companion is, you know a pet isn't just an animal. They're family! In fact, studies have shown a big yard for Fido to play in is a factor in many buyers' decisions about which homes to bid on. But what happens when you're on the other side of the equation: Selling your home?
Selling your home can take lots of time and energy. Many small details add up to success. From smells to sounds to stains, the signs that an animal lives in the home can turn off certain buyers. It may not be fair to your furry or feathered friend, but they can sour the crucial first impression.
Here's how to get set for successfully selling your home when you have pets:
Your pets may not understand that you're selling your home, but you know they'd want you to succeed. With these tips, you'll minimize the chance that they'll have any unintended effects on your plans.
There are plenty of home improvement projects that will add value to your home if you're selling and add comfort to your home if you're staying put. One of these home improvement projects is clearing out pet odors from your house. Lingering smells from dogs are particularly unpleasant — and worst of all, you may have become so desensitized to them that you can't sense them at all! Regardless if you're planning to sell or planning to entertain guests, here are a few easy home improvement tips for removing dog odors from your home.
Your home doesn't have to smell like you own a dog! Clean your home and four-legged friend consistently to eliminate strong odors from your house.
For many homeowners, the thought of selling your home for less than what you believe it's worth is unthinkable. After all, your goal is to try to make a profit or recoup the majority of your initial investment. Unfortunately, lowball offers are often part of the home selling process. There are many instances in which selling your home successfully will include accepting an offer that may not seem attractive at face value. Let's look at why buyers submit exceptionally low offers and when it may be beneficial for you to accept such a price when selling your home.
When selling your home, entertaining multiple offers is a good problem to have. While the highest two or three offers will seem the most attractive, most homeowners will see the lowest offers as unattractive. Some will even consider any offer well-below asking price insulting. If we think a "lowball" offer is 20 to 50 percent lower than the listed asking price, it's no surprise why you would scoff at such a small amount when selling your home.
Why do buyers submit lowball offers? In many instances, it's likely a negotiation tactic that a buyer may assume will eventually lead to an accepted price that is still lower than asking price, ultimately helping them save money. Some men and women may submit a lowball offer on a home in a buyer's market hoping, hoping that they find a seller motivated enough to accept.
Lowball offers may present themselves when selling your home, and some may be better than they seem. Although most real estate agents will recommend avoiding lowball offers, many experienced and knowledgeable agents know how to spot a lowball offer that's a great deal.
Accepting a lowball offer may be unthinkable when selling your home, but in reality, there are many reasons why it's wise. When is it wise to accept a lowball offer when selling your home?
While lowball offers may seem unattractive, they may be essential in successfully selling your home. When setting a price for your home, ask your real estate agent which lower-than-priced offers are acceptable to consider.
When selling your home, it's wise to remember that potential buyers have different perceptions, tastes, and priorities than the owner of the property. No matter how much you love the decorations and personal items you have placed in your home, buyers want to be able to imagine what their lives would be like if they lived there. That's why a home makeunder – think the opposite of a makeover – is such an important step toward selling your home. By following the "less is more" philosophy, you make it easier for buyers picture what they would do with each space and ultimately help them fall in love.
Selling your home starts with understanding what buyers want and how to present your home in a way that helps them fall in love. Take the time to makeunder your home before listing it for sale, and you'll be one step closer to selling your home to a motivated buyer.
Selling your home can be a quick and smooth process; however, it can be an extended and somewhat frustrating process. Even in the best markets and after maximum preparation efforts, there can be instances in which a homeowner has trouble selling their property. If you're selling your home and it isn't moving, try these steps to move the sale forward.
You may face obstacles that may delay selling your home. Thankfully, these tips can help you overcome obstacles and help you reach your goals.
If you're considering selling your home, you may believe it's an easier process than buying a house. While being on this end of the transaction does have its advantages, homeowners should be aware that it's easy to make costly errors. When you're ready to begin the process of selling your home, try to avoid these common mistakes.
Real estate transactions can be complex and mistakes can be easily made when selling your home. Thankfully, these pitfalls can be avoided with a little forethought and help from a real estate professional.
If you're planning to sell your home, you'll need to know what it's worth so you can price it accordingly. We all may tend to overvalue our houses. With so many memories filling these spaces, it's only natural that we see the property through rose-colored glasses. Unfortunately, one mistake that many sellers make is incorrectly pricing their home. These errors often lead to a lack of interested buyers, a longer than necessary listing on the market, and sometimes receiving a lower offer than the home is worth.
How do you price your property correctly when selling your home? Here are a few steps to determine what your home is worth.
Selling your home can easily be a lucrative decision; however, you can potentially lose money by pricing it incorrectly. Before listing your home, be sure to complete these steps to ensure you're listing your home on the market for a reasonable price.
Selling your home is quite an undertaking. While the ideal scenario is to find a buyer that is willing to meet your terms and accept your price, many sellers receive multiple offers that are each appealing in their own ways. Fielding too many offers is certainly more preferable than receiving none at all, but how does a seller decide which is best? Believe it or not, when it comes to selling your home, the "best" offer might be a little harder to recognize than it may seem. Here are five tips to help you decide on the best offer when selling your home.
Selling your home is an exciting feeling, especially when you receive multiple offers. Take these offers in stride, consult with your REALTOR® frequently, and be sure to consider all details when selling your home to ensure you choose the offer that helps you reach our real estate goals.
When it comes to selling your home, it's natural to focus on the sale's potential profits rather than the potential costs associated with the process. While selling your home can be a profitable experience, there are many expenditures throughout the process that can cut into your budget.
Closing costs are an essential aspect of selling your home that can be costly if you're not anticipating them. Let's take a look at some common closing costs that sellers typically take care of, as well as some closing costs that buyers may ask you to cover while selling your home.
Seller's Closing Costs
When selling your home, there are certain closing costs that most homeowners will be required to pay. These costs can often cost hundreds to thousands of dollars, which is why you should always budget for them when selling your home. This typically includes the cost of:
Buyer's Closing Costs
Not all closing costs are your responsibility when selling your home. Typically, the buyer will cover certain closing costs, which may range from less than one hundred dollars in costs to one thousand dollars or more in fees, including:
Often the buyer will negotiate for the seller to cover some or all of the closing costs. For example, the buyer may accept a counter-offer from the seller if the seller agrees to cover closing costs. In other instances, the buyer may ask the seller to cover specific costs like home inspection fees or appraisal fees, especially if these inspections reveal repairs or other investments will need to be made on the home after the buyer purchases it.
Closing costs associated with selling your home may range from one percent to even seven percent of the sales price. Before selling your home, consider speaking with an agent to learn about which closing costs you should include in your budget.
Moving is quite an overwhelming experience, even for those who have relocated before. The physical effort, the logistical considerations, and the mental fatigue are enough to drain any adult. However, the stress is multiplied when you have children. Although the task may seem impossible, there are many ways that you can complete the moving process without having to pack on extra pressure.
Can moving with kids be painless? Of course! Whether you have a toddler or a teenager, use these tips to help make moving with children an effortless experience.
Moving with children can be difficult, but it doesn't need to be a headache. By keeping your child informed, engaged, and cared for, you can make moving with your family painless.
Receiving your first offer is an exciting moment when selling your home, but how do you know when to accept an offer? The details differ with every transaction and seller, but plenty of common factors can help guide your decision. The more information you have, the easier it becomes to decide whether an offer is the right one for you.
Ultimately, the decision on whether to accept or reject an offer when selling your home is a little different for every seller because it depends on your unique circumstances. Selling your home is much easier with the help of an experienced real estate agent who can help you make informed decisions based on all of the data available.
There's so much to think about when you're selling your house that it's easy to let something important fall through the cracks.
Following an organized checklist will help keep you on track and ensure that the entire process goes smoothly. Don't forget to add the following items to your list.
As soon as you've confirmed that you're selling your house, you'll want to start getting your head wrapped around all the organizational tasks you'll need to tackle. This includes things like:
When you decide on selling your house, you'll want to immediately start researching schools, vets, and medical providers in your new location. Once you've made your decisions, arrange to transfer your family's medical records, school records, and your pets' vet records to your new providers.
Schedule the Movers
If you're going to use professional movers, start gathering quotes early-on so you can make the best decision. It's often best to begin this process as soon as you've started thinking about selling your house.
Make sure you read reviews and ask plenty of questions. Also, explore whether there are any ways for you to cut back the cost, such as packing your own items and getting rid of things you don't really need. Prior to selling your house, it's a good idea to set a moving budget, so you're not stuck with any unpleasant surprises.
If you're moving yourself, arrange for some friends to help you and reserve the moving truck. Also, consider whether you have enough people to drive all of the family's vehicles to the new home. If not, you'll want to book a vehicle mover as well.
As soon as you've committed to selling your house, you'll also want to start gathering up your moving materials. This will give you time to get as many free boxes as possible, which will cut down on your costs.
Start packing non-essential items as soon as possible and consider renting a storage unit to store them. This will help with the decluttering and depersonalizing that's necessary when selling your house. When you start packing, don't be afraid to be ruthless about what you decide to keep. Giving things away or selling them will save you time, effort, and money.
When you get closer to your move date, designate one box for essentials and put everything you'll need for your first few days in this box. This way, you won't have to search for important things as soon as you arrive.
Make Your Move
It's easier said than done, but try to get a good night's sleep before moving day. Make sure you wake up early, wear comfortable clothes, and don't forget to breathe! Keep your pets somewhere safe while the movers or your friends and family load up the trucks.
When everything is packed, give your house a final cleaning and make sure you've done everything that was required as part of your contract when selling your house. Check to make sure everything is locked up, and start your journey.
It may take a while to finish unpacking, but the process of settling in starts right away. First, you'll want to make sure the utilities are working. Then, unpack your essentials box and help your kids and pets get comfortable in their new environment. If you have younger children, make sure you childproof the home right away.
Selling your house is naturally stressful, but it doesn't have to be! Follow this checklist, and you'll be able to ensure you don't miss anything important. Who knows, you might even make it so stress-free that you enjoy the process!
If you're thinking about selling your house, the time to start preparing is right now. Homes that are clean, well-presented, and priced right often receive multiple offers. However, selling a home still requires some preparation.
Here are ten things to do as soon as you start thinking about selling a home.
Selling a home is much easier when you're prepared. Follow these steps, and you'll be ready for those offers to come rolling in!
Selling your home isn't easy–especially during a global pandemic. Although our daily lives have changed drastically, that doesn't mean that now is the time to abandon your home-selling goals. The real estate industry has adapted and evolved to the coronavirus's challenges to ensure that buyers, sellers, and agents can continue to conduct real estate transactions safely and securely.
If you thought selling your home during the coronavirus was impossible, think again! Markets across the country report positive monthly trends, including an increase in inventory, a decrease in time spent on the market, and an increase in property value. Here are seven tips for selling your home during the pandemic.
Selling your home right now may seem like a bold move, but fear not! With a few changes to the process and my help, we will make selling your home as smooth as possible.
If you're thinking about selling your home, finding a real estate agent you trust is a major first step. Once you're comfortable and ready to move forward, you'll need to sign a listing agreement.
This is the legal contract that outlines the engagement between you and your real estate agent. It also explains each party's rights and responsibilities regarding selling your home.
There are several different types of listing agreements. Depending on the firm you're working with, you may have options. Following, you'll find a brief explanation of the most common types of listing agreements you're likely to encounter.
An open listing gives you the most flexibility for selling your home. A homeowner can sign open listing agreements with multiple agents and only pay a commission to the agent who brings the buyer to the table. It also gives homeowners the option to find a buyer themselves and avoid paying a commission at all.
The drawback to this is that real estate agents are often hesitant to enter into open listing contracts. After all, a good agent will invest time and money into marketing your house. Under an open listing agreement, there's nothing to protect them from having another agent swoop in and take the commission
If you choose this option, there's a chance that you'll end up doing most of the work yourself. You may also end up selling your home for less than you would if you had a dedicated agent working on your behalf.
Exclusive Agency Listing
With this type of listing agreement, you'll sign a contract with only one real estate agent. However, you'll still retain the right to find your own buyer. If you end up selling your home yourself, you won't have to pay the agent a commission.
This plan allows you to fall back on your agent if you can't sell the house on your own. However, some agents will still hesitate to enter into this type of agreement since they're not guaranteed a commission. There's also a chance that the agent will request a higher commission rate in exchange for the inherent uncertainty.
Exclusive Rights-to-Sell Listing
Selling your home under an exclusive rights-to-sell listing is the most common option. This gives the real estate agent the exclusive rights to market your home and list it on MLS. He or she will receive the full commission as long the home is sold within the designated timeframe.
This is the preferred agreement for most real estate agents. Under this agreement, the agent is also more likely to put all of their resources into selling your home. They don't have to worry about someone else taking the commission, so they're more willing to commit the time and effort to ensure you sell your home quickly and for the best possible price.
Since the agent will lose the commission if the home isn't sold within the designated time frame, it also encourages them to aggressively market your home. This time frame is included in the listing agreement and can range from 30 to 365 days. Most agents consider 90 to 120 days to be the most realistic.
Properly marketing and selling your home takes time, so you don't want to push your agent too much. However, keeping the time frame relatively short will also protect you from being locked into an agreement for too long if they fail to perform.
Which is Right for You?
If you're not in a hurry to sell your home and feel confident in your ability to find a buyer on your own, then one of the first two options may be right for you. However, if you want the best chances of selling your home quickly and easily, consider choosing an exclusive-rights-to-sell agreement. Although you'll end up paying a real estate commission, most homeowners agree that the cost is well worth it!
When you're selling your home, you should know that many buyers consider ample closet space to be a top priority. Nearly every homeowner has boxes of possessions that are destined for the closet which means that a functional and versatile closet may be a prime selling point. Thankfully, there are ways that you can increase your storage capabilities without building a new closet! Here are some of my favorite closet hacks to max out a tiny closet before listing your home.
Even though areas like kitchens and bathrooms are major considerations, discerning buyers will also keep their eyes open for closet spaces that go above and beyond the normal nook. As you prepare to sell your home, consider upgrading your closet space to make it a versatile, attractive area that buyers will love.
Selling your home requires a lot of preparation. You'll need to take care of necessary repairs, update your curb appeal, and prepare for staging. When you start to pack and declutter, a storage unit can be your best friend. Storing some of your items off-site will make it easier to give your home the neat and organized look and feel that appeals to potential buyers.
Here five things that you'll want to put into storage while you're selling your home.
These are five of the most important things to remove when you're selling your home, but it's not an exhaustive list. As a general rule of thumb, unless you need it on a daily basis, it's a great idea to get it out of the house. This will also make clean-up easier when you have an open house scheduled or a buyer wants to come by on short notice to take a look.
Selling your home over asking price is naturally the goal for every seller; however, buyers see things differently. They want to get the best deal possible on the home, which means that they won't be making an above market offer unless they think that's what it will take to close the deal. With advice from your real estate agent, it's your job to present your property in a way that inspires buyers to maximize their offers.
Selling your home above asking price requires market savvy, along with a willingness to roll up your sleeves and do the work to make sure your home looks its absolute best. The help of an experienced real estate agent will be invaluable throughout the process, from choosing the right price to closing the deal.
There are many steps involved in selling your home, and the final one––closing––is one of the most important. This is the moment when you legally transfer ownership of your home to the buyer.
Since the entire process of selling your home can sometimes feel overwhelming, we recommend creating and using checklists for each step along the way. This will help you get organized and ensure you don't forget anything.
Here are a few of the most important things you'll want to add to your closing checklist.
Prepare Your Home
As you prepare for selling your home, it's a good idea to begin gathering the items the new homeowner will need. This includes owners' manuals for appliances, warranty information, garage door openers, and extra keys. Before you head out to your closing, leave these items on the counter where the new owners will easily see them.
Give your home one last cleaning and take some time to check all the drawers, closet shelves, and so on. Since closing is the final step to selling your home, once you leave the meeting, it's no longer yours, and you can't go back. This is why it's so critical to ensure that you've removed everything you intend to keep.
Shut off the water valves that to go sinks, toilets, the water heater, and the appliances. This will help prevent accidental flooding. Make sure you let the buyer know so they don't think there's a problem and call a plumber. On your way out, don't forget to lock up everything securely.
Gather Your Documents
To make the process of selling your home go smoothly, it's important to stay organized. As you prepare for closing, make sure you have all of the necessary documents, including:
If you owe money, you'll have to bring a cashier's check to the closing or wire the amount owed to the escrow account. If money is owed to you, you can expect to either receive a check or have it wired into your account before you leave.
Understand Your Agreement
During the closing process, you'll review the contract and go through and all of the other paperwork and agreements that apply to selling your home. You'll have a final chance to review things like:
Pay close attention to these details, and don't be afraid to ask questions if anything doesn't sound right.
Cancel Your Insurance and Utilities
When you leave the closing, the process of selling your home is done! However, there are a few more important things to do. If you haven't already made arrangements, you'll want to immediately reach out to your utility company and your homeowner's insurance provider to cancel these services.
You don't want to pay for these things any longer than you have to, but it's also important to wait until you've finalized selling your home before canceling. This way, the home is protected up until the moment that it's no longer yours.
File Your Paperwork
The last step of selling your home is to file all of the closing documents somewhere safe. You may want to scan a digital copy to store in the cloud and also keep the original paperwork in a filing cabinet or safe.
Selling your house is an exciting time, and there's no reason to stress over your closing. Just follow this checklist, and you'll be fine!
When selling your home, first impressions can make or break your sale. Even if you don't live in a market with a high inventory of homes for sale, many homebuyers will still walk away without making an offer if they find real or perceived issues with your home. We believe these ten tips will help you prep your home for a successful sale.
Selling your home is an endeavor that requires patience, dedication, and hard work if you want to maximize your offer potential. Use these tips to prep your home for a successful sale before you list it.
Millennial buyers make up a larger portion of the housing market and are an important demographic to consider when selling your home. While some of their priorities in shopping for a home are different from previous generations, there's no doubt that most millennials are very interested in owning a home. It just has to be the right home for their needs and budget. By marketing your home through modern channels and offering the home features they love, you can attract this all-important demographic when selling your home.
While millennials do have some preferences that skew toward the modern, they're looking for many of the same things from a home as any other buyer. Selling your home to this key demographic will be easier if you market it in the right places, choose a competitive price, and help them fall in love with your neighborhood.
When you're prepping to sell your home, step back and take a look at it with an objective eye. You may love its color palette, fixtures, and other decor elements, but your taste no longer matters. Will your home's appearance appeal to prospective buyers?
Before you start tearing everything down to start from scratch, consider some strategic upgrades. For example, minor kitchen renovations can result in a 20 percent higher return on investment (ROI) than a full-scale remodel. Selling your home can be quicker and more profitable with these smart kitchen improvements.
Want a winning recipe for selling your home? Use these "ingredients" to whip up a kitchen that will satisfy any buyer's taste.
If you're thinking about selling your home and moving into something smaller, you're not alone! While downsizing was once a trend that was most popular among retirees, people of all ages are now making this smart move.
There are many reasons why downsizing is a good idea. Here are a few of the most important benefits.
If you're someone who loves to entertain and have parties, then selling your home to buy one with fewer rooms might not be the best idea. However, if you only have gatherings on certain holidays or not at all, then this is definitely something to consider!
Many people are finding that their dream home is actually much smaller than they thought! If you're open to downsizing, there's no time like the present to start thinking about selling your home and exploring new options.
Selling your home is a big decision, and seller's remorse can creep in when you least expect it. Seller's remorse is a feeling of regret that you sold something that you weren't ready to part with, or that you sold your home for a lower price than you should have received. Preparation is the key to avoiding seller's remorse, and we're here to help with five key tips for no-regret home selling.
Selling your home with no regrets starts with choosing the right price, and knowing when to walk away from a negotiation. Once you find the right buyer, being prepared for the future is the best way to avoid regrets after closing the deal.
Owning a luxury home is an amazing feeling, but before the keys are in your hand, you must first navigate a quite different process than normal real estate transactions. When entering into the luxury real estate market, it's wise to heed the advice of agents and buyers who are familiar with these endeavors. Here are a few tips to consider as you shop for a luxury home.
Purchasing a luxury home is an exciting prospect. As one of the most significant financial decisions of your lifetime, you must proceed with this endeavor as knowledgeably and responsibly as possible. Use these tips to help you make your luxury homebuying goals a spectacular reality.
Selling your house while you're still living in it can be a rough road, but selling your house from out of state has its own set of curves and speed bumps to navigate. "Out of sight, out of mind" definitely doesn't apply when you're selling real estate from a distance.
With careful planning, you'll be cruising smoothly down the real estate highway. Use this helpful checklist of tips for selling your house from out of state.
You don't have to travel blind when selling your house from out of state. Keep your eye on the final destination, and you won't go wrong.
Like the rest of the world, the real estate industry has had to make significant adjustments due to COVID-19, to keep sales associates, buyers, and sellers safe. The process for selling your home may look different these days, but buyers and sellers are still motivated to close the deal virtually while navigating the new normal. Learn how to navigate this new market with our guide to selling your home in a virtual world.
Unusual challenges often require unusual solutions, and selling your home in today's market means embracing change. The good news is that a blueprint for success is already in place, with virtual sales tools and outside-the-box marketing ideas leading the way.
Selling your home is an opportunity to recoup your investment and finance your future goals--naturally, any homeowner wants to get top-dollar for their property. Unfortunately, some homeowners receive offers that are less than what they believe their home is worth. One way to prevent low offers from entering the picture is to invest in certain home improvements that may increase the value of your property. We recommend these six updates that can really pay off when selling your home.
While every homeowner should stick to a strict budget when making home improvements before listing their property, there are some investments that may increase the value of the home. Consult your real estate agent to discover which updates may pay off the most at closing.
Selling your home involves a lot of time, effort, and often a financial investment. With so much put into this transaction from long before the listing until the final closing paperwork is signed, the last thing you want to do as a seller is waste your time trying to respectfully work with buyers who are not serious about purchasing your home. There's a perfect buyer out there for every home and many more who are willing to negotiate to your advantage, which means it's important to learn how to identify the qualified, motivated buyers from those who are simply telling you what you want to hear.
Selling your home is a lot smoother of a process when you're only dealing with motivated, qualified buyers. While it's important to be courteous and respectful to every individual who tours your home, it's equally important to expect professionalism and only seriously consider those who are in a position to commit to an offer.
Selling your home is an exciting process, especially when you're oh-so-close to finalizing the sale. Although there may be a hundred and one reasons why a buyer will love your house, there are unfortunately just as many ways that a seller can self-sabotage opportunities to seal the deal — or even receive an initial offer. How can you accidentally stop a home sale in its tracks? Here are a few of the common ways that sellers can upend their own home sale.
Selling your home doesn't need to be a frustrating or drawn-out process. By acknowledging the pitfalls that trap other sellers, you can avoid stopping your home sale in its tracks.
Selling your home can be difficult, especially on an emotional level. Every day spent within these walls has left a mark on your memory. As family and friends gathered to share life's joys with you, this house has become a part of you. When the time comes to sell, it's not uncommon for sellers to recall these memories and allow their emotions to drive up the price. Unfortunately, overpricing your home is one of the worst mistakes a seller can make.
You believe our home is worth every penny of its listing price, and you're not wrong. It's natural for sellers to think that the time, effort, and home improvement investments they invested should be accounted for in the price. However, perceived value and actual value are seldom ever similar when it comes to selling your home.
Two common mistakes sellers make are pricing the home high in hopes to negotiate and purposely pricing the home higher than the comparative market analysis suggests. How can these decisions negatively impact the success of selling your home?
First, your real estate agent should conduct a competitive market analysis. Then, have your home appraised before listing it so you'll know a reasonable price range. Finally, you should try not to let your emotions influence your perception of the home's value.
Ultimately, your agent's goal is to help you successfully sell your home. An experienced agent or broker who is professional and knowledgeable will price your home for an amount that maximizes your financial benefit while staying within a price range that buyers find reasonable and appealing.
Selling your home can be a positive experience, especially when it's priced to sell. Trust in your agent and the hard data to avoid overpricing your property.
You're selling your home to recoup your investment and fund your financial goals--to lose money during the sale is an unthinkable possibility that unfortunately befalls many sellers.
Even if they successfully sell their home for an amount higher than they originally paid for the property, there are still many ways in which the seller can miss out on thousands of dollars. The following are a few surefire ways you can instantly lose money when selling your home.
Though many of these mistakes are common, you can easily avoid them with help from your listing agent. As quickly as you may want to complete the transaction, selling your home takes time, patience, and a level head. Navigate this process responsibly and reasonably to maximize your profits.
If you're thinking about selling your home, there will come a time when you'll have to start sorting through your belongings so you can pack up and move out. Not only will you likely feel surprised by the sheer number of things you've accumulated, but you may also start to wonder whether you should leave some of them behind. The answer, of course, is yes!
Some things are considered part of the buyer's contract and must be left in the home. Leaving certain other items will make life easier for the new buyer while also limiting the amount of stuff you need to deal with.
Before you do any more packing, take a look at this list of ten items you'll definitely want to leave behind when selling your home.
If you're in doubt about whether a certain item should come with you or stay behind, don't hesitate to ask your real estate agent. This is just one of the many ways that a great agent can make selling your home a breeze!
Selling your home for top dollar is a priority--but is it a realistic possibility? For many sellers, this type of real estate transaction is new and can seem quite confusing. Thankfully, many real estate agents have happily shared tips on how to successfully increase the chances of selling a home for an outstanding price. Before you list your property, consider these ten pieces of advice.
Selling your home is quite an undertaking, but a little patience, understanding, and hard work can go a long way. Consider these tips before you list your home and speak with your real estate agent about other ways you may be able to secure a higher asking price.
Selling a home is the start of a new chapter in life, but that doesn't mean you can't retain important elements of your previous life, such as your old friendships with neighbors. Even though you may not live close by, you should try to maintain and strengthen your relationships with those you care about. Use these five suggestions to keep in touch with your friends and neighbors after you relocate.
Staying in touch with your longtime friends and neighbors after selling a home doesn't need to be difficult. By using a variety of communication methods, going the extra mile to stay connected in-person, and understanding what makes your old friends feel appreciated, you can maintain and strengthen your relationships with your previous neighbors no matter how far away you've relocated after selling a home.
Selling your home can feel like an overwhelming task, especially when it's still sitting on the market. Despite interest from buyers, busy open houses, and reassurance from your real estate agent that your patience will be rewarded, your listing has yet to secure an offer. Unfortunately, even the best efforts can yield unfavorable results. If you're having trouble selling your home, you may want to investigate these common problems that keep properties on the market for ages.
Even if you're having trouble selling your home, don't lose hope! It's not too late to make a few quick changes and secure a fantastic offer!
Selling your home is an exciting feeling, especially when you receive multiple offers. Of course, any number of offers are beneficial, but many sellers don't know which steps to take next. If two or more buyers submit attractive offers, you'll need to evaluate more than the amount itself. When it comes to selling your home, price isn't everything. We recommend that all sellers learn how to compare multiple competing offers to determine which is the best for their unique needs.
While it may seem like there's no such thing as too many offers, receiving multiple offers can be overwhelming. Naturally, the highest amounts will immediately catch your attention — and perhaps cause the lower amounts to fall to the wayside. Before you choose a buyer based on the highest offer alone, we suggest that you also weigh the following considerations in your decision-making process.
When you're selling your home, you need to be prepared to field multiple offers from qualified buyers. While many of these amounts will be attractive, there are other factors to consider besides the price itself. Evaluate these offers using the suggestions above and consult your agent for advice on choosing the offer that suits your needs.
If you've been thinking about selling your home, you've probably considered the question of whether you really need staging. After all, it's an extra expense and it requires some effort -- so is it really worth it?
The answer is... maybe. Here are a few things to consider.
What is Staging, Anyway?
In case you're not familiar, staging involves setting up a home so that it looks as appealing as possible to potential buyers. In many cases, this involves bringing in the right kind of furniture, artwork, home decor, and more.
Buying a home is a very emotional decision. In many cases, great staging can help a potential buyer envision what it would be like to live in the home. Once they make this emotional connection, they're more likely to put in an offer.
Since 95% of homebuyers spend at least part of their time searching for homes online, the way your home photographs can also have a huge impact on how quickly it sells. A professional stager will know exactly how to ensure your home is presented in the best possible light both in photographs and in person.
The Link Between Staging and Selling Price
Staging prior to selling your home may help you get a better offer. According to the National Association of Realtors, 25% of agents representing buyers said that home staging increased the home's selling price by up to 5%. Another 12% said staging gave their offers up to a 10% boost.
When talking to agents representing sellers, these numbers were even higher. Twenty-two percent of them attributed staging to a price bump of up to 5%, 17% said that staging brought the price up by up to 10% and another 2% attributed it to a whopping 20% price increase!
According to the Real Estate Staging Association (RESA), a home that has not been staged spends an average of 143 days on the market. In contrast, homes that were staged before they were listed stayed on the market for a mere 23 days. If selling your home fast is a priority, it's clear that staging is something you'll definitely want to consider.
Even if you've already listed your home, staging may be worth it. According to the same study, homes that were staged after they were listed sold within 40 days from the time the staging occurred. While these statistics will vary from location to location and home to home, it's still likely that staging will set you up to sell faster.
Should You Stage Your Home?
Despite the statistics above, it should be noted that your particular home may not necessarily need staging. While approximately 28% of real estate agents say that they stage all homes they sell, the rest tend to take it on a case-by-case basis.
Approximately 13% of agents only recommend staging for difficult-to-sell homes while another 7% say that they only recommend staging for luxury homes in high tax brackets.
When selling your home, it's always a good idea to consult with an agent you can trust. This person will help you weigh the pros and cons of staging so you can determine whether it's a good idea for your specific home.
Selling your home is a wonderful feeling, but there's plenty still left to do after you've accepted an offer on your former property. Regardless if you're purchasing a new home or if you're moving into a rental property, all sellers need to consider these ten things after selling their homes.
Before you toast to new beginnings, make sure you tend to these ten tips to ensure that your hard work continues to pay off. Through planning, patience, and practical decision-making, you can set yourself up nicely for the next chapter of your life!
Are you a pet owner that's hoping to sell your home? As much as you love your four-legged friend or cuddly critter, all homeowners should be aware that the presence of a pet can negatively impact the resale value of your home. While most pet owners are prepared for the cleaning, repair and insurance costs that some pets create, there are many animal lovers that don't realize the specific ways in which these family members can turn away those buying a house.
Don't worry! If you do have a pet, you can still successfully sell your home for a great price. Here are a few tips to follow when listing and showing the space to those buying a house:
Even though your dog or other animals may lower your resale value, you can still successfully sell your home for a great price. Follow these steps to ensure you're being considerate of the buyer's feelings towards pets and show them that this can be the home of their dreams with or without a furry family member.
The average home spends anywhere from 30 days to 90 days on the market before attracting the right buyer. Buyers may jockey for position for several weeks before one pulls ahead of the pack and gives you a clear path to selling your home.
Even when things are looking up, don't drop your guard. Selling your home isn't a done deal until the closing day is over – when the papers are signed, the keys have been handed off, and you are ready to move forward on your future.
With help from an experienced real estate agent, you can avoid situations that might otherwise end your sale at the last moment. Still, it's a good idea to get prepared in advance. The more you know, the easier it is to avoid a worst-case scenario.
Let's look at some things that can cause headaches late in selling your home:
Early preparation lays the groundwork for you to avoid these six show-stopping issues as you sell your home. Connect with the right real estate agent early on, and you'll be much more likely to find a like-minded buyer, too.
So you're selling your home, and you've decided to save money by taking the DIY route. In reality, studies show for sale by owner (FSBO) homes sell for approximately 30 percent less than homes represented by a real estate agent. Can you afford to pass that up?
Here are five significant reasons why working with a real estate agent is the best advantage you can have when selling your home.
Don't stumble your way through what is probably the most significant financial transaction of your life. Selling your home with the help of a real estate agent pays off financially, physically, and emotionally.
At the end of the day, selling your home is a means to an end. Whether you're downsizing, relocating for work, or simply need a space that meets your current financial and lifestyle needs, you're relying on your home sale to help facilitate the purchase of a new home. The question is: Will you lose money when you sell your home?
Selling your home is easier said than done, especially if this is your first time navigating a real estate transaction. Unfortunately, this opens up many opportunities for mistakes to be made — even by homeowners who have already successfully sold a home. The following are the common mistakes that could cause you to leave money on the table:
Selling your home is a detailed process but a thorough understanding of these transactions will help you ensure that you don't make mistakes that cause you to lose money on your sale.
Has selling your home crossed your mind? For many homeowners, the thought of selling their house is quite conflicting. On one hand, it's the space where your family and friends gather to celebrate the moments of life, both little and large. On the other, sometimes relocating to a new space is the change you need to accommodate your current finances and lifestyle. One way that you can identify if it's time for you to move is when you notice that you've outgrown your current home.
Have you outgrown your current home? Here are ten signs it is the perfect opportunity to sell your home.
Selling your home is a major decision that shouldn't be made lightly. Consider these points, have an open discussion with your family, and reach out to a real estate agent if you believe now is the right time to sell.
A reverse mortgage is a type of mortgage loan that enables homeowners, particularly seniors, to access the accumulated equity value of their home without selling it.
Reverse mortgages first arrived in the 1960s but have become popular in recent years. More homeowners are using them for the funds required to comfortably age in place.
Sometimes, however, plans change. Some homeowners discover they want to move after all, perhaps to be close to family. Others move into an assisted living environment to help them with the demands of aging. What happens to the reverse mortgage then?
Good news: You can still sell a home with a reverse mortgage – if you know how.
Selling Your Home With a Reverse Mortgage
The majority of homes on the market have an outstanding mortgage. A reverse mortgage is very similar. Although it might seem intimidating, it merely means you'll need to do things in the right order.
Here's the best approach to selling your home with a reverse mortgage:
Selling your home with a reverse mortgage doesn't have to be a headache. Reach out to a real estate agent you can trust, and they'll make the process easier.
No matter what else you do to prepare when selling your home, pricing the home correctly is often the single most important factor in attracting the right buyer. Price the home too high, and it can be nearly impossible to get a competitive offer. Go too low, and you may be leaving money on the table when it's time to close the deal. Fortunately, picking the right price is mostly science, and you can jumpstart the process with our guide for how to price your home like a pro.
While there's no one way to set the perfect price when selling your home, the most important factor is to rely on the expertise of your real estate agent. With a comparative market analysis and a deep understanding of your local real estate market, you can choose a price that gets your home sold while meeting your financial goals.
Moving into or out of a home is an event that is filled with lots of emotions for everyone. Those can range from happiness to sadness to excitement, or even a little fear. Leaving a small but thoughtful gift for the new owners of your home can help you close that period of your life a little easier. It's also a nice gesture to welcome the new owners and let them know you wish them well. Try one of these suggestions.
Moving into a new home can be quite an experience and leaving a little gift for the new owners with a note to wish them well is a nice gesture that will be appreciated.
A duplex is a multi-family home that consists of two units in one building. Units usually stand side by side. They share one wall that connects them but has their own entryway and front landscaping. A duplex can also be a two-story building with a single front yard.
A duplex is a common investment property. Instead of buying a house, a buyer can live in one unit while renting the other. A duplex may be ideal for a growing family, too: Parents can live in one unit while grandparents or college-aged children use the second.
However, you decide to use it, buying a duplex is a bit different from buying a house.
Here's what to know:
A duplex offers both the potential to grow in value and passive income that takes the sting out of a mortgage loan. As with any time buying a house, consider your options carefully. Pick a real estate agent who knows multi-unit properties inside and out!
Whether you're selling your home soon or you're looking to add value long-term, the garage may not be the first room you think of when upgrading your home. For many homeowners, the garage is a place to store things and work on projects, so aesthetics take a back seat. If you're looking for a unique way to wow potential buyers, however, a finished garage is one potential tool in your arsenal. But does a finished garage truly add value when selling your home? The answer depends on what you're trying to accomplish, and what sort of buyer you intend to attract.
While finishing your garage may not add resale value in a concrete way, it can be an important subjective factor in attracting the right buyer. Not every buyer will be interested in a finished garage, but the right buyer may love it. Your real estate agent can help you decide whether to finish the garage, or whether you're better off investing those funds in another room.
You know that selling a home doesn't just happen overnight. Unfortunately, there are many instances in which you do need to sell it as quickly as possible. Whether relocating for work or for family, you may have no choice but expedite the process so that you can meet your relocation deadline. Follow this step-by-step guide to make this transition as smooth as possible.
Selling a home so that you can quickly relocate may seem like an ordeal, but we assure you that the right real estate agent can help make this process as easy as possible. Follow these steps and you'll be ready to move on to brighter horizons in no time!
There are a lot of things to look forward to when you sell your home and get ready for the next chapter. Packing up all your things is not one of them. Still, moving day is unavoidable, and when that day comes, these simple tips will make the process easier than you thought possible.
When you're moving, countless exciting paths lie ahead. Following these ten moving tips will make the process of moving onto the next chapter of your life much more simple and stress-free.
Selling your home is an emotional process, especially when you're at a transitionary point in your life. Whether your grown children are out on their own or if you've closed a chapter in your career, many older adults discover that downsizing to a more manageable space is best for their evolving lifestyle needs. Unsure if now is the right time to downsize? Consider these pros and cons.
As your life changes, so do your lifestyle and financial needs. Downsizing to a smaller home is perfect for some adults who want to save money and live life on their terms. However, like any move, downsizing may not be the right decision for your family. Take some time to consider your options and ask a trusted real estate agent to help guide you through this decision.
Your house doesn't meet your needs anymore. Perhaps you've run out of space. Maybe your house's appliances or style are out of date. Whatever your reasons, you've decided you need a change. But do you renovate the home you've got to better suit you and your family? Or do you look for a new one that already does? The answer depends on your needs, your financial situation, and your tolerance for the stresses involved in moving and renovation.
One of the benefits of renovation is that you can all but guarantee you'll get what you need—within reason. Does your kitchen need updating? Do you need an extra bathroom or bedroom? Those types of renovations might be easier than buying a house in your neighborhood, at your price point, that has everything you need.
Getting what you want with a new home depends on what's available in the market. You might have to make compromises in price, features, or area. At the same time, the market can provide many more options with a new home than could ever be available with a simple renovation.
Ultimately, the choice of what, when, and where to buy is always yours. The decision on what to renovate, however, is generally static. You'll still be limited by your finances, equity, and your home.
In most cases, paying for a renovation will be easier than buying a house. While renovations aren't cheap, they're still less than buying a new home, and they're easier to pay for. If you've lived in your home for a while, chances are it has accrued equity. Equity is the difference between the current value of the house and the balance left on your mortgage. Typically, homeowners use home equity loans to pay for renovations because they're easy to secure; Your home is the collateral securing the loan.
If your current house has little to no equity, it probably makes more financial sense to buy a new home than renovate. Without equity, you'd likely have to take out a personal loan which could be harder to secure and more expensive to payback. Also, you might be better off buying a house if the cost of your current mortgage plus a home equity loan would exceed or match a new mortgage.
Neither renovation nor buying a house are stress-free. The renovation will likely require you to live, at least part-time, in a construction zone for weeks or more. It'll be loud, there will be strange people in your home, and it'll be messy. You might also have to endure interruptions in power, plumbing, and the internet.
Moving has its stresses, too. Of course, there's the actual process of packing and moving. There's also the emotional toll of leaving a home, a neighborhood, and possibly friends and family. There's also the stress of selling the old house, which could persist well past the time you've moved into the new one.
Deciding to renovate your current home or to buy a new one isn't easy. However, if you understand what your current and future needs are, you can make a decision that will make you happy.
With the home market heating up, many buyers believe that making a cash offer will give them an advantage over other buyers. But, as a seller, is it in your best interest to take a cash offer? Or are you better off sticking to your price and holding out for a lender-financed buyer?
The answer is--it depends.
There certainly are some advantages to selling your home to a cash buyer. This is particularly true if you're in a hurry to sell because you're moving or you need money quickly. However, as with most things, there are some potential drawbacks. Let's take a deeper dive into the pros and cons of a cash sale.
For your protection, never accept a personal check from a buyer to pay for your home. Instead, insist on a bank check or a check from the attorney's escrow account. Also, beware of a buyer who tries to purchase the home with actual cash. The cash could be part of a money-laundering ring or drug money. If that's found to be the case and you failed to report it, you could lose your home.
The Bottom Line
For sellers who are in a hurry to sell their home, a cash offer can be the perfect answer. However, if you have the time to wait and can deal with a minimal amount of uncertainty, you'll almost always get a better deal from a lender-financed buyer. Your circumstances will determine which is the best choice for you.
If you're thinking about selling your home, give us a call. Working with a qualified agent can help minimize stress and give you the peace of mind that you're making good decisions. We'll help you determine your property's fair market value and find the perfect buyer, so you can sell your home without the hassle.
Seeing a home listed "as-is" will excite some buyers and raise a red flag for others. If you're thinking about selling your home as-is, you may be imagining a quick sale without having to make any repairs. And you may be right, but there's a lot to consider when you put your home up for sale, and selling as-is has some potential drawbacks, as well as some tempting advantages.
Pros of Selling a Home As-Is
Cons of Selling a Home As-Is
Selling a home is an exciting endeavor. Whether you've sold a home previously or if this is your first time, you likely already realize that this process involves many steps. Before you get ready to list your house for sale, we suggest putting these ten items on your home-selling checklist.
There are many reasons you might be interested in selling your home. No matter what your main motivation is, however, most people come into the process with some financial hopes.
The majority of sellers wait for favorable market conditions before they sell. Most invest at least a few dollars on refreshing the appearance of the home and raising curb appeal. Plus, it's crucial to ensure you make enough on your sale to meet any outstanding obligations.
With that in mind, a difference of a few thousand dollars can have a major impact on your timing when going to market. Unfortunately, it's easy to underestimate the costs of selling your home.
The cost of selling can be much higher than planned thanks to several factors:
Thinking about listing your home for sale over the next few weeks? Here are ten ways to stage your home to make it presentation perfect for that first showing.
Selling a home is a process in which every detail matters. If you're like many homeowners, you may only sell a property two or three times throughout your entire life. Since selling a home is often a new endeavor for homeowners, it's easy to make an error throughout the process accidentally. Here are eight common mistakes you can easily avoid when listing your home for sale.
When you're selling your home, setting an asking price is a bit like playing a round of The Price Is Right, where contestants use their shopping knowledge to zero in on an item's price without going over. Make sure your price is right with these expert tips on pricing your home to sell.
Selling your home doesn't have to be a long, drawn-out process. When The Price Is Right, you'll be amazed at how quickly the offers come.
There is any number of reasons why a real estate deal can go south, but the home inspection is one of the most notorious deal killers of all. Issues turned up during the inspection can throw a serious wrench into your home sale, so it's important to be prepared to avoid this potential pitfall. Here's what you need to know about avoiding inspection woes... and how to proceed if a problem arises.
How Inspections Work
These days, just about every purchase contract for a home includes a contingency that allows the buyer to hire a professional home inspector. Most Realtors will recommend that their client have a home inspection carried out, and roughly 85 percent of buyers will heed that advice. That means that, before your home is sold, it will almost certainly be inspected by a professional.
Whether that inspection will reveal any issues is another matter. If your home is in great shape, you probably don't have a lot to worry about. Still, there is always a chance that the inspection will reveal flaws that even the homeowner doesn't know about.
Inspections cover the house from top to bottom. Each inspector has his or her own particular method, but the areas that inspectors check is largely standardized at this point. Inspections typically include the plumbing, heating, cooling, and electrical systems, as well as structural elements including the roof and foundation. Inspectors also check all major appliances and look for signs of mold, mildew, and pests.
It's crucial that you know as much about your house as possible. That way, you can fix any issues that need fixing, and disclose any defects that you either can't or don't want to fix. At the very least, if the inspection report turns up a problem, you won't be surprised.
Although it may not be necessary in every case, it can sometimes be helpful to hire your own professional inspector to carry out an inspection before putting your home on the market. With an inspection report of your own, you can get out ahead of any issues that may exist. That's a major advantage in a competitive market.
A home inspection typically costs $300 to $500 for an average-sized home. It's a significant investment, but it often pays off when you consider the overall benefits. For one thing, having fixed any issues will allow you to get top dollar for your house. Plus, you get to fix them on your own terms, and not the buyer's terms.
Do everything you can to ensure that your home is in tip-top shape before your home is inspected. While it is possible that an inspection can reveal serious issues, you can take some simple steps to make the process go more smoothly, and make sure that simple repairs are not mistaken for something more serious:
Getting ready to sell your home? Sometimes it seems like all your neighbors had to do was stake down a 'for sale' sign and watch the offers roll in. But for most us, selling a house isn't nearly that easy. That's especially true in an increasingly crowded market.
Many of today's sellers find themselves facing much more competition than just a few years ago. Chances are, your house isn't the only one for sale in your neighborhood, or even on your block. Luckily, there are several great strategies that can help you get ahead when you're selling your home in a crowded market.
All real estate agents are required to hold a current license, but that's the only consistent qualification across the board. Each real estate agent has a unique combination of experience, success rate, and other relevant criteria.
How do you decide which listing agent is best suited to meet your specific needs? Before selling your home, interview potential agents using this list of questions designed to help you make an informed choice.
Selling your home is a huge undertaking, and the relationship with your real estate agent is key. Take the time to find an agent you can rely on to guide you through the journey.
There's no doubt that selling a unique property comes with its share of challenges. Real estate shoppers rely heavily on comparable properties when analyzing prices, and by definition, a unique property is difficult to compare with anything else in the area when selling your home. A property can be unique because of its value, layout, or extravagant upgrades, especially if has been personalized specifically to suit the needs of its previous owner. The good news is that selling a unique property is far from impossible, but it may require different tactics than selling a property that fits more naturally with the neighborhood. Get started with our six tips on how to sell your unique property.
Selling a unique home may not always be easy, but you can absolutely learn from the people who have been in your shoes before. By capturing the unique nature of the property through images/video, choosing the right price, and making the most of modern marketing tools, you can simplify the process of selling your home.
There's plenty of preparation that goes into selling your home. It's important to prepare the home correctly even when your to-do list is a mile long. It's easy to overlook the importance of a safety check when you're doing so much to get your home ready, but skipping safety is a big mistake. Avoid unwelcome problems after closing the deal, by doing a safety check both indoors and outside before selling your home.
Performing a comprehensive home safety check is a crucial step when selling your home. It provides peace of mind that you won't have any unwelcome surprises after you close the deal. In addition to helping prevent potential lawsuits, a safety check makes it easier for the next owner to enjoy the home just as much as you have.
Selling your home is a complex process and something that most people only do a handful of times in a lifetime. While it may be tempting to forego the help of a real estate agent to save money on commissions, the reality is that the right agent can save you money and make it much simpler to sell your home. A skilled agent has the industry expertise, local knowledge, negotiating skills, and marketing know-how to make your life easier in so many important ways. Still undecided on hiring an agent? Here are six reasons to hire a real estate agent when selling your home.
There's no doubt that the right real estate agent makes life easier when selling your home, and can even save you money in the process. The commission for a top agent is a small price to pay when you consider how many ways your agent can help you get your home sold, save time, and keep your hard-earned money in your pockets.
When you're selling your home, it may feel like everyone you know turns into an expert. Everybody wants to offer their tips for a smooth sale, but not every piece of advice will be worth following. In fact, sometimes bad advice causes sellers to commit some of the most common sins of selling, from skipping important prep steps to picking the wrong price. Thou shall not sell a home, before reading the six sins that are killing your home sale.
Avoiding these six common home-selling sins will make it much easier to attract the right buyer, and sell your home.
Selling your home is rarely easy, but it's a much smoother process when you know the most common mistakes to avoid before you start. Sellers make mistakes for a wide variety of reasons, including inexperience with selling, bad advice from well-intentioned sources, and letting emotions get in the way of negotiations. Learn how to avoid common pitfalls with our guide to seven home-selling mistakes that you'll want to avoid.
Selling your home is so much easier when you learn from both the positives and negatives of people who have been through the process. By keeping expectations in check, working with the right real estate agent, preparing the home for sale, and being willing to negotiate, you can simplify the process of attracting the right buyer when selling your home.
Selling your home on a tight timeline comes with its share of unique challenges, but it's definitely possible if you know how to prepare. It's important to make sure that the home is ready for the market in every way, and that means you'll also have a tighter timeline when prepping the home to high standards. The right marketing and the help of an experienced real estate agent will make life much easier when time is of the essence. Our five insider tips for selling your home on a tight timeline are the perfect place to start when you're aiming to sell in a hurry.
There's no doubt that selling your home on a tight timeline can feel a bit chaotic, which is why it's so important to have a plan. Investing time in preparing the home and money in the right marketing plan will make it much easier to get the job done. Throughout the process, a trusted real estate agent should be your number one source of advice for selling your home fast.
Did you know that most buyers form a strong opinion of your home before they walk through the door? First impressions matter big-time when selling your home, so you want buyers to be impressed from the moment they arrive at the curb. By maximizing the curb appeal of your property, you can go a long way toward selling your home. Let's take a quick look at some of the aspects to consider when it comes to the outside of your home.
Once you have your home looking great from the curb, it's important to keep it that way. Selling your home is so much easier when buyers have something to be excited about from the moment they arrive for a showing or open house, and curb appeal can even encourage buyers to stop for a look when they happen to pass by the home during their daily travels. The time, money, and elbow grease you invest in curb appeal is a small cost for the potential benefits.
When you've made the decision on selling your home, the fun really starts!
Selling your home involves a lot of different moving parts. When you take things one step at a time, however, it all gets easier. Going into the selling process with a clear idea of what you need to do will reduce your stress and prevent you from overlooking key details.
Here are seven things you need to consider while selling your home:
Selling your home starts with a firm decision. Once you've made that choice, give yourself every advantage you can by reaching out to a local real estate agent you can trust.
There's no avoiding a home inspection when selling your home, and that's a scary thought for many sellers. Even if the home is in great shape, there's no escaping a little worry about what the inspection might discover. Fortunately, while a home inspection may turn up unexpected issues, it's still fairly rare for an inspection to cause a deal to completely fall apart. Preparing for the process will make your life much easier. Get started with this list of what to do when your home is the hot seat.
While there's no way to guarantee that an inspection won't turn up any issues when selling your home, taking the time to prepare puts you in a much better position. If you have specific questions about your home prior to inspection, your real estate agent should be an excellent source of advice.
Getting your home ready to sell does take a little work, but that doesn't mean you have to spend a lot of money. Many of the projects you'll need to complete are low or no cost, and they all go a long way toward making the best possible impression on buyers.
There are a lot of things you can do to get your home in top shape to sell. A little time and effort on your part can make buyers feel welcome and have them making offers in no time!
Selling a home is complex, whether you're doing it for the first time or have some experience with a prior sale. As with any complex process, it really helps to look at the habits of people who have navigated the process successfully in the past. While every home and market is unique, the basics – from prepping your home to keeping it ready to show – remain the same. Start your next home sale on the right foot with our guide to eight habits of successful home sellers.
Successful home sellers are willing to work at the process every day and look for every opportunity to present their home in the best possible light. Behind most successful home sellers, you'll also find a successful real estate agent, who provides marketing, guidance, and market analysis for the seller.
All homeowners know that a practical approach is necessary when considering a home purchase. Aside from the geographical aspects like location, school zones and commute times, the features inside the home can make or break a potential sale. Integrating the latest technologies into your house can dramatically increase the value and desirability of your home. Consider upgrading your property with a few of these smart technologies to help you sell your home.
Smart technology is quickly moving into every home on the market. Before upgrading your space with any of these amazing devices, be sure to speak with your real estate agent to identify which systems could give you the most return on investment and help you sell your home faster.
When you are a homeowner, you own everything inside that home and outside of it, within the confines of your property lines. You can change out light fixtures, remove carpeting, cut down trees and uproot plants and shrubs whenever the mood strikes you. However, if you're selling, things change to some degree, and some of those belongings are considered fittings and fixtures, which means they are part of the property to be transferred to the new owner. So what are some of the things that typically must be left for your buyer? Here are five things to leave behind when you're selling your home:
Other things are usually left behind when you're selling, including wall brackets, cabinet hardware or wall-mounted air conditioning units, for just a few examples. If you wish to take certain items on the "leave it behind" list, your intention to remove these should be disclosed to the buyer before a purchase contract is signed. Your other option is to remove and replace the fixtures you want to keep before your home is listed for sale.
If you are in doubt about whether or not you are obligated to leave certain items or need advice about making the proper disclosures to buyers about keeping them, contact a real estate professional for help. Getting solid advice from an experienced professional is your best course of action to ensure a friendly, hassle-free transaction between yourself and your buyer.
If you're thinking about selling your home, now is the time to start making any necessary renovations and updates. While you might think you know exactly what needs to be done, it's smart to talk to a real estate agent before you get started. He or she will be able to tell you exactly which features are most popular with homebuyers so you can focus your time and money on the projects most likely to improve your bottom line.
While buyers often have varying priorities when it comes to a home's interior, most may want the same features on the outside. Investing in the following five projects will help increase the chances of selling your home for top dollar.
Besides the work you do before the open house, it's a good idea to make a quick trip through just before your real estate agent arrives. When you're selling your home, its appearance makes a measurable difference in how people view it, whether it's online or in person. The neater and cleaner it is, the better the home comes across to buyers.
Just before the open house, make a pass through your home to check its condition by area.
The landscaping around your home is the first things prospective homebuyers see when they pull up in the driveway. That first impression creates a lasting impression, and it is worth investing the time and effort to ensure your grass, trees, flowers, and shrubbery look their very best. As you prepare your home for its place in the real estate market, the following landscaping tips will help you set the stage for a successful sale.
Finally, don't attempt to do it all yourself. Invest in the services of professionals to ensure that the job is done right. This is especially important when it comes to tree trimming, sprinkler repairs, electrical work, and exterior repairs that require specialized tools and experience. This means that the finished appearance your investment buys will be worth its weight in gold when the ink on the contract dries.
Most times when selling your home, it's better to let your real estate agent do the talking with potential buyers. However, there may be moments when it's just you, the buyer, and the buyer's agent having a conversation, so it's important for you to understand what not to say, as well. Most buyers will be looking for an edge in negotiations, and that edge can come from seeking out information that the seller's side would rather not share. Learn how to maintain your leverage and avoid scaring off buyers, with our guide to seven things that you should never say when selling your home.
By understanding what to say and what topics to avoid, you can make it easier to achieve your goals when selling your house. The right real estate agent will act as a buffer between you and potential buyers, but it's always helpful to know exactly what not to say when your agent isn't present.
You love your cozy, quirky home; however, when it is time to sell it, those loveable irregularities might not be the best selling points. For you, the tiny handprints on the hallway wall may be a part of your history, but for a potential buyer, they are something that needs fixing.
So, before you put that sign in your yard, consider making certain repairs to increase your chances of selling at the right price.
Selling your home is an exciting time, but you have to do the work first. So, pull out your notebook, take a walk around your property, and make a plan that will get your home looking just right for selling. Some extra work up front may be just the thing that gets your home sold quickly and for a price that makes you smile.
Selling a house that has pets? Potential buyers may automatically expect fur, odors, dirt, and damage. Luckily, you have time to erase all traces before you list. If you're a homeowner and a pet owner, don't let your beloved family members become financial obstacles. Keep them out of the selling and showings altogether with a few practical real estate strategies.
Here are some of the most valuable steps to take in order to sell a home with pets:
Are you ready to turn your cozy doghouse into a home that will sell? Before you list, make sure you take these steps to keep pets out of the picture.
There are many misconceptions about what drives Millennial homebuyers to make an offer on a property. When you are selling your home, cutting through the "wrong" ideas can make your home more appealing to this highly motivated demographic. As you prepare your listing, the following are nine things that are at the top of a Millennial buyer's wish list.
In today's hot real estate market, it's not uncommon to receive multiple offers shortly after listing your home for sale. Since getting top dollar is a common goal when selling your home, you may feel tempted to jump on the offer with the highest price. However, doing so could be a mistake. Before you accept an offer, consider these seven other important factors.
Working with a qualified real estate agent when selling your home will give you the peace of mind you need to make good decisions.
Location and condition aren't the only things that can keep you from selling your home. In a healthy real estate market, houses that don't sell after awhile are at a significant disadvantage. One issue that can keep an otherwise desirable house from selling is a price that's too high.
Many homeowners are eager to set a relatively high price when they go to market.
There are several reasons:
Unfortunately, there are good reasons why a higher asking price spooks buyers. It can take qualified buyers out of the running even if they can afford the home.
If you are selling your home, learning about pricing can help.
The Psychology of Pricing Can Scare Qualified Buyers Away
In big-ticket items such as houses and cars, pricing is anything but an exact science.
Unfortunately, the more valuable an item is, the easier it is to misjudge its fair market value. This is especially true of things, such as houses, that cause great sentimental attachment.
In many cases, people who are otherwise ready to buy your home will decline to make an offer not because they feel the price is unreasonable, but because better bargains are available.
What's more, there are psychological factors involved:
When selling your home, the price is an important signal to prospective buyers. If the price is not in tune to both your needs and market conditions, it will create confusion.
Remember, this doesn't mean a house has to be underpriced just to sell! Instead, sellers should look to the expertise of a trusted real estate professional for a proven pricing methodology.
How Should Sellers Price a Home When They Want Results?
To develop an accurate picture of the fair market value of a home, ask your real estate agent to prepare a comparative market analysis (CMA) for you. He or she will look at recent sales in the neighborhood as well as sales of comparable homes – those with similar amenities.
Only after doing this research is it possible to select a price that:
The price a real estate professional comes up with may be lower than what you first expect. However, a good home can still be priced somewhat higher than average for the local market. In the long run, this leads to an easier and more rewarding selling experience.
Pricing Issues Can Sink Your "FSBO" Listing
Many sellers choose "for sale by owner" methods because they think it'll be quicker and easier. When it comes down to it, many FSBO listings are either overpriced or underpriced. Studies show FSBO listings sell for substantially less than agent-led listings.
No matter what your goals are, your first step in selling your home should be to contact a reputable local real estate agent. That way, you can get on track for the results you want.
Do you know if now is the right time to consider selling your home?
Don't worry — many homeowners scratch their heads at this same question. While buying a home is an important decision, selling your home is a matter of equal significance. When you first consider selling your current home to purchase a new house, a million thoughts may fill your mind.
For some, selling a home involves questions of practicality: when is the best time to sell, how do I know if I can afford a new home, will buyers want to purchase my home in its current condition?
For others, saying goodbye to a home is like saying farewell to part of the family. They'll often have emotional concerns that raise stressful questions: can I really leave our family's first home and will I ever find a home that feels just as special?
If you're unsure whether or not now is the right time to sell your home, you're not alone. Thankfully, there are a handful of key questions you can ask yourself to help you determine if there's no better time than the present to sell your home.
Question 1: Does it feel like your home is getting too big or too small?
As you transition into different periods of your life, the needs of you and your family will change. With the lifestyle you currently have, and where you believe it's headed, consider if the size of your home is adequate to accommodate these needs. If your young family of four is starting to grow in a small two-bedroom home, you may consider upsizing. However, if your children have moved out of the house and you're considering retirement, it may be in your best interest to downsize.
Question 2: Is it a wise financial move?
Take a look at your finances and think about whether you can reasonably afford —or not afford — to move. Selling your home may be a great idea for those who have been saving for years or who want to lower their mortgage expenses. However, it may not be a wise choice for those that may be unable to take on the financial requirements of a new home responsibly. Also, it's wise to discover whether or not your home has equity or if you'll have to make renovations before you can realistically ask for your targeted price.
Question 3: What is the current status of your local real estate market?
Is your area in the midst a housing boom or has the market not been favorable for sellers over the last few years? Depending on the market, selling your home may not be a wise idea even if the answers to the questions above insist that you should. Ultimately, you want to receive a fair price for your current home so that you're able to afford your next property. Selling in a buyer's market or during a recession may not be a smart choice.
Question 4: Is this the right time for you to sell your home?
Although the changing seasons can make it easier or harder to quickly sell your home, you also have to consider if this is the right time for you personally to take on this transition. If you have major life changes coming up that may impact you financially or occupationally, it may be best to wait. However, if you've responsibly prepared yourself to sell and feel that you can comfortably make the next move, perhaps now is the best time for you to consider selling your home!
Are you considering selling your home? Then it's time to call a real estate professional.
When it comes to property sales, a real estate agent is one of the greatest resources a seller has. Of course, an agent can help you successfully sell your home. However, what most homeowners don't know is that a real estate agent performs a variety of other critical duties both during the sale and behind the scenes.
Read on to discover eight things that real estate agents do to help you sell your home!
Downsizing often makes sense for seniors whose needs no longer match their present home.
When retirement nears, downsizing often makes good financial sense. It can help you make the most of a fixed income. Likewise, it means less time and money spent on maintenance.
It can also be safer. For example, many older homes have stairs that become a nuisance over time. They might also have large tubs or other amenities that are no longer desirable.
Downsizing the right way can help seniors achieve a more relaxed, sustainable lifestyle. With fewer things to worry about, they have more time to focus on what matters.
Here's how to make the process simpler:
It may be a bit of a production, but downsizing can make things more comfortable and less expensive. With the right real estate agent in your corner, you may find yourself moving into a "downsized" home that's your favorite one yet.
There's no doubt selling your home is a process that can come with its share of challenges, so it's crucial to prepare. Choosing the right asking price from the start will make life easier as you find the right buyer and negotiate your final selling price.
But the asking sale price is only one part of the equation because buyers have negotiating tactics of their own. Let's take a look at six tips to help you negotiate the right sales price when selling your home.
While the negotiating process will usually have its ups and downs, understanding how to negotiate the right selling price gives you a significant advantage throughout the process. Work with your real estate agent, encourage competition, and be prepared for the tactics that buyers will use to drive the price down. Selling your house may not be easy, but with the necessary preparation, you can find the right deal.
Selling your home is a huge undertaking that often creates a lot of stress. Working with a great real estate agent can help make things easier, but how do you find one you can really trust?
Real estate transactions are often deeply personal, so you'll want to make sure you have a real connection with the professional you choose to work with. These five tips will help you find an agent who feels more like a best friend than a business connection.
When selling your home, it's wise to do some small, targeted home improvement projects. A touch of something new here and there can do a lot for the way potential buyers see a home, so minor investments of a few hundred dollars each may add thousands to your asking price. Many of the best projects don't even take long to complete.
And then there are the ... "other" projects.
Selling your home can be a hectic time. If you let the stress get out of control – say, by not having a trusted real estate agent on your side – it can really influence your decision-making. That might explain why so many sellers are attracted to costly and unsuccessful renovation projects. The idea that "bigger is better" can seem much more attractive when you're on a tight deadline and handling everything on your own. Most of the time, however, it's just not true.
Let's look at seven home improvements projects you might skip when selling your home:
As you're selling your home, less is more. A real estate agent can advise you on the best ways to improve the market value of your property. That way, you make more on your sale and get to closing faster.
Selling your home comes with its share of excitement, but it can also mean added stress, especially if you have children. In between paperwork, organizing the move and last-minute preparations, it's essential to ensure that your kids understand what's happening for your family. Making time to talk to them about the move is crucial as is keeping them informed throughout the process. To help with the transition, you might consider reading a book or two them about moving to a new home. The following books are some of the favorites for helping youngsters cope with the uncertainty of moving, making it a bit easier and even fun.
Moving isn't an easy phase for any family, and the task of selling your home is only the beginning of the process. With some planning and good communication, the change can be a good way to strengthen family bonds. Get your kids involved, and schedule some time to enjoy these books before the move.
When it comes to selling your home, there are a lot of important things you need to get done. While you're worrying about finding the right real estate agent, staging your home for photos, and improving its curb appeal, it's easy for some other important details to fall through the cracks.
Forgetting to do the little things can sometimes cost you big money. Don't fall into this trap! Here are seven of the most common things that home sellers forget to do.
This winter season may be the perfect time to list your home for sale. Some shoppers may be motivated to buy before year's end. Making your home appealing to prospective buyers is key to catching their attention and sealing the deal. Using these six tips to get your home ready for the market and let this winter be a season be your selling success story.
Set aside some time in your schedule to make your home a winter showcase before listing, and see how much difference these tips can make.
You may have bought your home as a starter, or perhaps you've outgrown your space. What you thought was your dream home might no longer suit your lifestyle. The fact is, people, sell their homes for a variety of reasons, and there's no rule of thumb for exactly how long you should stay in your current house.
If the thought of selling your home has crossed your mind recently, it may be time to revisit your goals to determine if now is the best time for you to make a move. Give some consideration to the following scenarios, and if they are right for you, it just might be time to list your home for sale.
Area Homes Are Selling High
Browse through listings for homes in your neighborhood, paying particularly close attention to homes comparable to yours in size and features. If the list prices seem high, it might be time to pay attention and do some further research. Using public information, or better yet, the help of a qualified real estate agent, you can see what similar homes in your community are selling for currently and recently. You may be able to make a nice profit by selling your home.
Two Words: Seller's Market
A seller's market happens when more potential buyers are looking for homes than there are homes available. The cards are stacked in your favor in this scenario when selling your home, as you are more likely to get at or above your asking price. Your real estate agent will know the market trends, so letting them know that you are thinking of selling your home will allow them to alert you of the best time to list.
Your Home is Cramping Your Style
Has your family grown since purchasing your home? Perhaps you've begun working from home, but don't have enough space for a proper home office. Many homeowners choose to sell when their current home is no longer big enough for their family's needs. It's important to weigh the pros and cons of additions and renovations against buying a new home that already has the features your family now needs.
Your Home Has Become a Financial Burden
If you underestimated the costs of home ownership when buying, you might be feeling a constant strain on your budget. A different neighborhood may have a lower cost of living, and you may even want a smaller home that requires less maintenance. Smaller homes or those in more affordable neighborhoods could potentially cost less in property taxes, homeowner insurance, and utility bills as well.
The price isn't always right. When it's wrong, buyers may move on to the next home without giving yours a second thought. Investing the time and effort required to determine the right price for your property can expedite the sale and put the money you desire in your pocket.
Research Comparable Properties
It is always advisable to compare apples-to-apples, and oranges-to-oranges when setting a price for your home. Start by looking at houses with similar square footage and features. When comparing homes, you should only consider those within a variance of up to 10% for both square footage and lot size.
Focus only on properties located within 1/2 mile to 1 mile of your home. Then narrow your search by the home's age, the neighborhood, and quality of schools if they are different. This research will give you a reasonable estimate of the value of the property.
Of course, the value of the property and what homes are selling for can be two different things. It is essential to examine recent sales in the area. By comparing the listing price to the sales price, you can determine whether the properties were over/underpriced from the start.
Always Consider the Season
Home prices typically rise during the summer months as families prepare to move into new homes and school districts. However, listing a home in the summer months isn't a slam dunk that you'll get the price you want. That's because other sellers are also eyeing the summer months to place their home on the market. This trend creates an oversupply of houses which can drive prices lower.
Be Mindful of the Appraisal
The buyer's lender is going to order an appraisal before they'll approve the loan. That appraisal should be as close as possible to the sales price. The lender may decline the loan if they feel that the value of the home is significantly less than the agreed upon price.
Factor in the Future
Circumstances within the community can increase or decrease the home's value. Homes in communities where large employers are in the process of expanding have a higher perceived value. Conversely, homes in communities where the economy is struggling or noticeably shrinking can have a lower value. These factors are entirely out of your control when you are selling your home, but do have a significant impact on your property's perceived value.
Pricing in a Buyers, Sellers, or Neutral Market
Examining recent sales data will be a telltale sign if it's a buyer's, seller's, or neutral market. In a buyer's market, you want to be as close as possible to recent sales of comparable properties when selling your home. In a seller's market where inventory is low, you can add 5-10% to your asking price. In a neutral market, you'll want to set the price to match the market trend which typically involves adding 1-2% per month since the last comparable sale.
Getting the Most for Your Home
There are two things you absolutely must do when setting a price for your home. If you want to get the highest price possible when selling your home, you must first put your emotions aside. To you, it's a home filled with years of memories: To a buyer, it's still just a house. Second, you must get the house in top condition. Fixing the trim, trimming the landscape, and painting will go a long way towards justifying the price you put in the listing.
If you're like most people, your house is one of the most significant assets. This means that when it's time to sell, a lot of money is at stake. The decisions you make while selling your home can impact the rest of your life. Improve your chances of getting top dollar by avoiding these six common seller mistakes.
There's no doubt that appealing home staging is key to attracting interested buyers, but how much should you spend on staging? Whether you're working with a tight budget or merely trying to save every dollar you can for your move when selling your home, it's possible to do a great job staging a house on a budget.
Staging a house on a budget may present unique challenges to deal with, but you're far from alone. Remember that your real estate agent has done this many times before, so they should be a great source of advice for staging priorities and ideas.
A dirty bathroom with stains and old fixtures is not likely to have shoppers falling in love with your home, so some elbow grease may be required to get bathrooms looking their best.
You can still find affordable furniture rental options when staging on a budget – especially if you stick to staging only the most important rooms. For furniture, the most important spaces are the master bedroom, living room, and dining room. Furnishing these rooms helps to sell your home by making it easier for buyers to imagine what life would be like there.
Just like with the bathroom, new fixtures and a fresh coat of paint on cabinets go a long way toward making an old kitchen look new again. Since kitchens are often the site of old smells and stains, you'll want to clean your kitchen to professional standards.
You want buyers to be impressed from the moment they arrive at the curb, so it pays to invest in your yard and the entrance to your home. Make sure your yard is clean, your lawn is cut, trees/hedges are pruned, and your garden is looking lively. You'll also want to apply a fresh coat of paint and updated fixtures if the entrance to your home has seen better days.
Staging a home on a budget is so much easier when you invest your effort where it matters most. By making affordable fixes, refreshing well-used rooms, keeping up with curb appeal, and strategically renting the right furniture, you can maximize your value when selling your home.
The process of selling your home and finding a reliable mover can be as stressful as meeting your potential spouse or starting a new career. It doesn't matter if you're moving a few miles away or a few hours away, you want to hire a moving company that you can trust. How can you tell the difference between a reliable moving company and a bad one before they start loading your prized possessions on their truck? These tips from the experts will teach you what to look for when talking to potential moving companies to make selling your home less stressful.
Keep these tips in mind as you go through the process of selling your home. It's a lengthy list, but it will feel great to check one thing off your checklist—hiring the movers.
When you listed your home for sale, you knew someday you'd have to move. Unfortunately, the process can be stressful and time-consuming. It can also be surprisingly expensive. If you're moving, you can't eliminate expenses altogether, but these nine tips should help you save some cash.
Selling your first home takes a big commitment of time, energy, and emotion. You'll leave behind your first-home memories while looking for a new place to start all over again. It's not an easy job, but it's worth it.
Until you sign the papers on your new and current home, you'll pull double-duty as a home buyer and a home seller. It's a tough job, but it's doable when you have a plan. Here are six tips to help you get the job done.
It's Worth the Effort
Selling your home is a labor of love. When you hand over your keys to the new owner, you'll feel the thrill of making someone's homeowner dream come true. When you close on your new home, you get to repeat the process all over again.
The Veterans Administration home loan program, also known as a VA loan, has helped millions of Americans become homeowners. But some sellers still don't have much information about how these loans work. When you're selling your home, being informed will help you make a good decision.
How the Process Works
A buyer starts the house hunting process by obtaining proof from the VA that they are eligible for this type of loan. The buyer then contacts a VA approved lender, who handles the financing. These are private lenders, and most of the process is the same as it would be if the buyer were choosing any other type of mortgage.
The Veterans Administration does not lend buyers money; they only guarantee a portion of the loan. That means the lender still has recourse if the property is foreclosed on. Because of that guarantee, buyers can get more favorable terms. It's similar in concept to FHA loans but applies only to Veterans, currently enlisted military personnel and sometimes their spouses. The bid process is the same, and once you accept the buyer's bid, everything proceeds as usual with an appraisal, home inspections, and closing. Most VA loans close in 30 to 45 days, just as other mortgages do.
Some sellers worry about delays and extra paperwork because the VA is a government agency. However, the VA's role in this process is small, and VA approved lenders are very familiar with how it all works, so those fears are simply unfounded.
Where the Big Difference is For Seller
VA loans are subject to a stricter appraisal process. All mortgage lenders require an appraisal of the property before finalizing the loan. For VA loans this process also includes an assessment of Minimum Property Requirements (MPR). For this reason, not every appraiser handles these types of assignments. Although this could cause potential delays, in most areas, it won't. Unless a property is remote and difficult to get to, there are likely plenty of appraisers in your area capable of handling the job.
Some sellers worry unnecessarily about the minimum property requirements. Because they are guaranteed, VA loans are designed for properties that are in good shape and move-in ready. For most people, selling your home will mean it's in move-in condition already. In situations where that isn't possible, this can be an issue. Fixer-uppers and homes that need extensive major repairs will require some other form of financing. In most cases, a buyer using a VA loan will probably already be aware of this, so it shouldn't be a big issue for the seller if they have submitted a bid on your home.
There are limits on how much and what type of closing costs can be paid as part of a VA loan. As a result, sellers often think they will be required to pay them instead. The closing costs and who pays what are a frequently negotiated part of the contract when selling your home. And as with any other type of mortgage, the seller still has the option to negotiate or just say no. Buyers may have to pay some costs in cash at closing instead of rolling them into the loan, or sellers may opt to adjust the selling price upward to compensate.
When selling your home, it's a good idea to keep an open mind and objectively assess the offers you receive. That buyer with a VA loan could be the perfect match for you!
If you've recently decided to sell your house, you might be experiencing a range of thoughts and emotions. Aside from committing to selling your home, deciding on your asking price is probably the biggest choice you will face during the process, and it's an important one! Working with an experienced agent is key to getting your home sold efficiently, and having professional guidance to help you determine the asking price allows you to list your home with confidence. Following are some of the ins and outs of home pricing you'll want to consider before making a decision.
Taking the time to do your research and make your home its best before listing your home will make the pricing process easier.
As a seller, you'll want to do everything you can to make your home more appealing to buyers. And like other sellers, you'll be doing some prep work to get your home ready to sell. That means fresh paint, increased curb appeal, and sometimes even renovations. Many sellers struggle with deciding exactly where to spend their home improvement budget, and it can be tough to know what buyers want. Hopefully, you're lucky enough to have a few of these upgrades already in your home. If not, adding one or more of these suggestions can help your home get noticed and stand out in the minds of buyers.
When it's time to sell your home giving buyers what they want gives you a big advantage. And it will help make your home selling experience a successful one.
If you've recently decided to sell your house, you might be experiencing a range of thoughts and emotions. Aside from committing to selling your home, deciding on your asking price is probably the biggest choice you will face during the process, and it's an important one! Working with an experienced agent is key to getting your home sold efficiently, and having professional guidance to help you determine the asking price allows you to list your home with confidence. The following are some of the ins and outs of home pricing you'll want to consider before making a decision.
Get Acquainted With the Market
The housing market is known to change often, and trends develop because of supply and demand. Your strategy may be much different in a buyer's market than when the seller has the advantage. Do some research, to understand what is happening in your area where the housing market is concerned. Upfront knowledge is important in deciding how to proceed, and your real estate agent understands the market and will provide valuable insights into the market.
The Power of Comparison
It's your right to ask any price you want for your home, but that doesn't guarantee that you'll get it. An essential part of pricing your home is to look at comparable homes and their selling prices. Your real estate agent can provide you with a comparative market analysis that is full of helpful information on area comps. Keep in mind that you should consider homes that are comparable in size, age, and location when setting your asking price.
Put Your Emotions on Hold
The excitement of selling your home is running high, but now is the time to look at your home thoroughly, and view each aspect of it with a critical eye. Of course, your home holds sentimental value, as it should, but some parts of your home may be worth more to you than they would to a potential buyer. Are there add-ons that may detract from the value to buyers? Could your home use a makeover? The answer to these and other questions, when answered honestly, may influence how you ultimately price your home.
Spruce Up Your Home
Your home may be in good or even great shape, and if so, you may feel comfortable setting your asking price once you've done your research. Most homeowners, however, can find a few things that need attention. Small projects such as tidying up your home's landscaping and decluttering its interior may allow you to up your asking price. Potential buyers will be looking at the home as a whole but will hone in on details as well. A tidy, welcoming home is what they hope to see.
The Zero Debate
Traditionally, setting a home's price ending in too many zeros may not be to your advantage. Although there's truly little difference, a prospective buyer may be more enticed by a home priced at $299,000 versus one priced at $300,000. While avoiding the zeros may present a bargain to some, it may cause some buyers to miss your home entirely. Online real estate searches are extremely popular, and that home priced at $299,000 won't show up if the buyer sets the parameters from $300,000 to $350,000. Your real estate agent knows the market and will offer advice depending on your unique selling scenario.
Taking the time to do your research and make your home its best before listing your home will make the pricing process easier.