A stress-free home sale is what most home sellers hope for. Yet, the truth of the matter is that selling a house involves many moving pieces, some of which you have some influence over and others of which you don’t.
It’s a simple recipe for generating a lot of stress. But, there’s a common first step to selling your home.
For example, the location of your home may have an impact on how long it stays on the market and how much you may charge for it. Selling a product at a higher price and selling quicker is more likely in an environment with minimal inventory. Homes that have been sitting on the market for a while are less likely to find a buyer.
But, no worries. If you’re looking to sell your home, you’ve come to the right place. Keep on reading for our full breakdown of all the necessary tips for selling your home.
First Step To Selling Your Home
#1. Determine Your “Why”
Take some time to think about why you want to sell your house. Be sure you want to sell before you go through the hassle and expense of the process.
There’s wanting to focus on the money. To determine how much you still owe on your mortgage, speak with the person handling your current loan.
This is the first step to get an idea of how much equity you’ll have when you sell. To obtain a better idea of how much money you’ll need to spend on repairs before you put your house on the market, this amount might serve as an excellent starting point.
Identify the things that you cannot negotiate. Take note of the essentials and the deal-breakers.
What’s your moving schedule? What is your pre-listing improvement budget? What is the lowest price you are willing to take for a sale?
#2. Look Into The Best Times To Sell In Your Region
The optimum timing to sell a house depends on the current situation of the local real estate market, including whether it’s a buyers’ or a sellers’ market.
If you can wait for a seller’s market, which happens when more buyers are looking for properties than there are available, you could be better off waiting. It provides them leverage in negotiations for sellers, which might lead to price hikes.
The first part of May has traditionally been the most fantastic time of year to sell your house to maximize earnings and minimize time on the market.
According to Zillow data, homes for sale in this window typically sold six days quicker and for $1,600 more than the national average.
#3. Decide On A Representation Strategy
One of the first decisions you’ll have to make is whether or not to utilize a real estate agent to sell your property on your own (a process known as “for sale by owner” or “FSBO”).
Only 10 percent of homeowners who reported selling in the previous year did it without using the services of a real estate agent. Moreover, 10 percent of those who attempted to sell independently ultimately went to an agent or broker for assistance in the process.
If you need to sell your house fast, the state of your local market, and any unique aspects of your property that may require the services of a skilled negotiator, weigh the advantages and disadvantages of each choice.
#4. Renovate The Whole House
Preparing your property for sale typically requires some effort, whether that effort is made by you or by a professional. So why not make your house seem as though it has been there for a long time?
If you want to sell your property, you’ll need to spend some time making it move-in ready to appeal to the broadest possible audience.
It is estimated that sellers who hire a professional spend an average of $4,953 preparing their property for sale. However, your decision to undertake repairs and improvements will likely rely on the state of your home as well as the preferences of purchasers in your neighborhood at the time of sale.
You may get a lot of assistance from your real estate agent when it comes to making a to-do list. No matter what you decide to do, here are a few pointers on making some upgrades around the house.
Pre-inspection is key. Sellers frequently prefer to do their pre-inspection rather than rely on the buyer’s pre-inspection.
When it came to the 25 percent of sellers who worked with a real estate agent, they had an inspection done first. Why? In addition to helping you prevent unpleasant surprises, a pre-inspection also provides you with an opportunity to address any issues that an inspector may find before a potential buyer does.
#5. Set a Fair Price For Your House
A difficult task, but one that’s critical to the selling of your house, is determining the correct asking price for your house. Accurately priced homes are more likely to be sold quickly.
When a buyer accepts an offer within the first week, Zillow estimates that 57 percent of properties worldwide sell for the asking price or more. In the second week on the market, it reduces to 50 percent and continues to decline as the weeks go.
If you need help setting the right price for your Memphis home, you can always ask to “sell my house” here.
#6. Start Your Home Improvement Projects
This includes organizing and decorating your property to appeal to the biggest possible audience when it comes time to put it on the market.
Staging your house may be done in various ways, but here are a few crucial points to keep in mind.
#7. Start Your Home Improvement Projects
This includes organizing and decorating your property to appeal to the biggest possible audience when it comes time to put it on the market.
Staging your house may be done in various ways, but here are a few crucial points to keep in mind.
Sell Your Home Quick: Simplified
Selling your home doesn’t have to be a nightmare of logistics and bad decisions. We hope that our guide has shed some light on the first step to selling your home, as well as the next steps in the process.
And, if you liked reading our article, then you’ll love checking out our additional tips and explainers in our real estate section.
When a buyer accepts an offer within the first week, Zillow estimates that 57 percent of properties worldwide sell for the asking price or more. In the second week on the market, it reduces to 50 percent and continues to decline as the weeks go.
If you need help setting the right price for your Memphis home, you can always ask to “sell my house” here.
