Home Selling Tips - Part I

The following are some guidelines when deciding to sell your home in the current real estate climate.

1. Why are you selling your home? This is the single most important factor when deciding to sell your home. Do you need the proceeds for a specific purchase? Do you need a larger home due to changing family conditions? Or are you downsizing? All are important reasons to sell. But remember “Why” you are selling affects your list price, time allotted to selling, selling effort and how much money you will be allocating towards the selling process.

2. Keep the reasons to yourself. Have you ever noticed that at an Open House the potential buyers and viewers ask: Why are you selling? Most are not just curious but rather looking for a needy seller or a negotiating position when making an offer. What I recommend is that you answer that with your housing needs have changed.

3. Do your research. With the advent of the various internet based sites this portion of the business has become more readily available then in years past. But you will want to:

a.) see what properties have sold in the last six (6) months that are a direct mirror of your home.
b.) Check out other open houses to see what your “competition” is going to be like.
c.) get an independent appraisal so you have an idea of what the market value will be as well as letting any potential buyers know that your home can be financed.

4. Decide on a Realtor®.
Consider interviewing real estate agents while looking at several factors to base your decision. Some should include past sales, current listings, marketing plan, market knowledge and make sure that they are someone you can trust and feel confident that they will do a good job on your behalf.

5. Prepare your home.
Make sure your home presents itself in the best possible light. Fix everything. Make sure it is super clean. Eliminate the clutter from years of storage. Freshen the paint and make sure it is neutral in color. Make sure the entrance clean and unobstructed. Get rid of any odors like pet, food or smoke.

6. Remember to disclose everything.
Don’t get caught in the trap of not disclosing all known defects. By doing this you can prevent liabilities and avoid potential lawsuits. Some states like California have extensive documentation requirements so check with the governing body in your state.