Before you decide to sell your first home, get the 4-1-1
If you are considering selling your home, it is best to do some serious homework before putting your home on the market. Here’s the 4-1-1 of everything you need to know when you put your home on the market.
First of all, consider the market. Do your homework and see what the homes in your area are selling for and how long they are staying on the market. Consider whether or not you would be making money or potentially losing money with the sale of your home. Look at market predictions for the future; if the inventory of homes is limited and will continue to decrease, the market is taking a downturn which means it can be a good time to sell. It can also indicate that waiting awhile may lead to an even better return on investment.
Find an Agent
Choose an agent that is right for you. This is probably one of the most important aspects of selling your home. Choosing someone who knows your neighborhood and the area, and more importantly, gets to know you and your goals and timelines are essential. Your agent will help you to determine a price that is just right for the market and for you. They will help you to identify what you can do to increase the value quickly, as well as how to entice buyers, and make your home ready to sell. They are instrumental in getting your home listed, and they will be in charge of organizing and advertising your showings. You want an agent who has people to help take great pictures and videos to help market your home. Ask any potential agents how and where they will market your home. And most importantly, your agent needs to be a strong negotiator. Talk to them about their sales and whether they are willing to push hard to get you the things that you need to make selling your home a wise decision.
Prepare Your Home
The next thing you need to do is get your home ready for showings. This can be a daunting task, so be prepared for a bit of a marathon. You have to make your home a space that is warm and inviting, but that is enough of a blank slate that it allows buyers to see themselves and their things in your home. You will have to put a lot of your belongings into storage for the time being. (Box up the extras, the knick-knacks, and the chotzkies).
Get Ready For Offers
Spend some time thinking about what you will and won’t consider. Be ready to compromise and negotiate some things like closing costs. Many buyers ask the seller to pay for closing costs, so think about where you stand on that and what you are willing to negotiate. Then you will negotiate a contract with a serious buyer, and they will put down earnest money to show they are serious about buying your home.
Serious buyers will then likely order a home inspection to make sure the home is sound and doesn’t have any large and costly issues. The buyers may come back with a list of repairs that they want fixed before moving forward. They can also back out of the contract if they feel there are too many problems.
After negotiations and repairs, it’s time to close on the property. This seems to be the longest and hardest part of the process, but before you know it, your first home sale will be in the books and your next adventure can get started.
If you are looking to sell your home, I am happy to help you along the way! Click here to reach out today.