Andrew’s Top Ten Tips to Selling Your Home
1. Understand Why You Are Selling Your Home
Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you're willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sale, this would deter-mine one approach. If you want to maximize your profit, the sales process might take longer thus determining a different approach.
2. Before Setting a Price - Do Your Homework
When you set your price, you make buyers aware of the absolute maximum they have to pay for your home. Buyers today are Very Savvy they may know the Value of your home better than you, because of all the tools available on the Internet to check pricing, plus they most likely have seen all of your competiton already. As a seller, you will want to get a selling price as close to the list price as possible. If you start out by pricing too high you run the risk of not being taken seriously by buyers and their agents and pricing too low can result in selling for much less than you were hoping for.
3. Do Some "Home Shopping" Yourself
The best way to learn about your competition and discover what turns buyers off is to check out other houses. Note floor plans, condition, appearance, size of lot, location and other features. Particularly note, not only the asking prices but what they are actually selling for. Remember, if you're serious about getting your home sold fast, don't price it higher than your neighbor's.
4. Getting an Appraisal is a Benefit this gives peace of mind and you have just avoided the biggest hurdle to selling, besides a home inspection.
Getting a good appraisal is definitely a benefit in marketing your home. Getting an appraisal is a good way to let prospective buyers know that your home can be financed. However, an appraisal does cost money. The benefit is that you show prospective buyer your home CAN be financed for the Full Purchase Price. Many deals fall apart because the Seller has Unreasonable Expectations as to the true value of his home, perhaps snagging a buyer then the bank does their appraisal and says this home is not worth the contract price. All that time, money, effort and cost of inspections are wasted. And the buyer walks. All the while the home is off the market as Pending, losing out on other buyers.
5. Appearances Do Matter - Make them Count!
Appearance is so critical that it would be unwise to ignore this when selling your home. The look and "feel" of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.
6. Get a Professional Home Inspection, Get it Spic n' Span Clean and Fix Everything (Even If It Seems Insignificant A home Inspection can be advertised to show your home has been Preapproved-Certified! A Great Marketing Tool! Its puts the buyer at ease.
Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn't work, and the tiny crack in the bathroom mirror because these can be deal-killers and you'll never know what turns buyers off. Remember, you're not just competing with other resale homes, but brand-new ones as well.
7. Deal Killer Odors - Must Go!
You may not realize but odd smells like traces of food, pets and smoking odors can kill deals quickly. If prospective buyers know you have a dog, or that you smoke, they'll start being aware of odors and seeing stains that may not even exist. Don't leave any clues.
8. Be a Smart Seller - Disclose Everything
Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent law suits later on.
9. Keep Emotions in Check during Negotiations
Let go of the emotion you've invested in your home. Be detached, using a business-like manner in your negotiations. You'll definitely have an advantage over those who get caught up emotionally in the situation.
10. A Low Offer - Don't Take It Personally!