Has your family outgrown your current home? Have the children moved out of the nest, and you need a smaller place? Maybe you got a job offer in a different location. Whatever your reason for selling your home, you are looking for tips to guide you. You are in the right place. Some tips which you can follow to ease you through this process are;
Be Sure You Are Ready To Sell
While this may seem obvious, sometimes it isn’t. Are you ready to walk away from all the memories you made in your home? Are you prepared to negotiate the selling price like a business deal and without factoring in any nostalgia? Are you willing to hear any criticism on what needs fixing?
Are you equity positive? This means, do you owe more than the price of your home? Are you in a financial position to buy another home? Be sure to answer all these questions before you begin the selling process. Backing out may prove to be very expensive for you.
Decide How You Are Going To Sell The House
You can use an estate agency, an MLS listing like Movoto.com, a quick sale provider, or you can sell it yourself. Whatever the method you pick, make sure it is the most convenient for you.
All about the Money
How much do you suppose your home will sell for? There are three main ways to come up with a selling price. You can use a free online home value estimator. AMV’s (Automated Valuation Models) uses real estate data and algorithms to come up with an estimated value. You can choose to hire a property valuer. You can also choose to let your agent help you come up with an estimate. Compare the cost your agent gives you and the property value in your area so that you are sure they are not just flattering you.
Understand that you will not get all that money. Calculate how much money you will get in the end. Here are some things to factor in:
♦ Start with the selling price
♦ Subtract the real estate agent commission
♦ Subtract solicitor fees
♦ Subtract any remaining mortgage
♦ Subtract other expenses such as Home Owner Association fees, taxes, and utility bills
Time Your Sale
Put your house in the market at a time when it is most likely to sell. Some estate agents recommend spring, but it varies depending on your location and the state of the real estate market. Come up with a timeline from when you will put your house in the market to when the transfer will be complete. Don’t have a very short timeframe. Also, decide if you prefer to buy another house before you sell this one or if you don’t mind owning two homes. Some ways you can avoid owning two homes are:
♦ Getting the right agent or agency. This increases the chances of your house selling fast.
♦ You can ask your agent to add a clause in the buyer’s contract of your new home that stipulates that your offer is contingent on the sale of your current house
♦ You can decide to only look for a new house when you have accepted a proposal from a buyer for your current house.
Get an Agent and a Solicitor
Your agent will lead you through the selling process. They will help you in house preparation, recommend good consultants such as inspectors and stagers, and even help you with marketing. Your solicitor or conveyancer is responsible for the legal aspects of the sale. They will be responsible for the transfer of ownership of the house from the seller to the buyer.
Get Your Home Ready
This part involves a lot of cleaning and repair work. You can hire an inspector with your agent’s help, who will highlight all the areas that need fixing. It would help if you repainted your walls into more neutral colors and to give it a fresh feel. You should depersonalize the space and begin emptying some of your things. Increase the flow of natural light into rooms by removing furniture near windows, removing curtain furnishings, and opening curtains and blinds. Be sure your house is show-ready at all times. You can also hire a stager to give the house an even more professional appeal.
With all this done, all that is left is to wait for an offer. After you have received an acceptable offer, you then negotiate a contract. The exchange is when final agreements are signed and exchanged between the authorized parties. Past this stage, backing out translates to the loss of your deposit. Finally, completion is when ownership will change hands. The solicitor will register the transfer of land ownership, and each party will transfer the money and deeds.
Shift Frequency © 2020 – The Beginners Guide to
Selling Your Home