The majority of people wishing to sell their home dream of a smooth process. Listing your home, selling it quickly and purchasing a new home with cash in hand is the goal. Most often though, there are issues that can delay that process. The longer your home lingers on the market, the less desirable it is to potential buyers.
There are factors within your control that have a big impact on a seamless closing.
Here are 9 steps to help seamlessly sell your home:
1. Set up for Success
As soon as you decide to sell your house, jump right into researching real estate agents to find someone with the right experience for your situation. At least two or three months before you plan to list, consider getting a pre-sale home inspection. A home inspection can be a wise upfront investment and leave enough time to schedule necessary repairs.
2. Professional Photos are a Must
A professional photographer, with a strong portfolio, knows how to make rooms appear bigger, brighter and more attractive. The same goes for your lawn and outdoor areas. Dimly lit online photos can turn off homebuyers before they even have a chance to read about the details. So well-taken photos can really pay off.
3. Stage your Home
You’ve heard of curb appeal, but professionals say online appeal is now even more important. Stage it and keep it clean for showings. Make yourself scarce when potential buyers come to view your home. Let them imagine themselves in the space, free from the distraction of meeting and talking to you.
Let someone else show the house.
4. Realistic Pricing is Key
Even in competitive markets, buyers don’t want to pay more than what the comparables, so it’s crucial to get it right the first time. Pricing too high can backfire, while underestimating the home’s value might cause you to leave money on the table. At a glance, you can get an idea of what homes around you are going for.
5. Review All Offers
After your home hits the market, ideally the offers will start rolling in. When you receive an offer, you can accept the offer as it is, make a counteroffer or reject the offer. While your agent may recommend you take the highest offer, look closely at other aspects.
If you’re lucky enough to get multiple offers, you might be tempted to go with the highest one, but be mindful that if a buyer is relying on lender financing, the property has to be appraised. Any shortfall between the purchase price and appraised value will have to be made up somewhere, or the deal could fall apart.
6. Anticipate Closing Costs
Both the homebuyer and seller have closing costs. The buyer may have negotiated any credits to be paid at closing for repairs or closing costs, the seller will pay those too. Your real estate agent or the closing agent should provide you with a complete list of costs you’ll be responsible for at the closing table.
7. Weigh the Taxes
The good news is many home sellers won’t owe taxes on profits from the sale of their primary home. If you’ve owned and lived in your home for at least two out of the previous five years before selling it, then you would not have to pay taxes on any profit up to $250,000. For married couples, the amount you can exclude from taxes increases.
8. Gather the Paperwork!
There’s lots of paperwork needed to properly document a home sale. Organize your papers all in one place to help things go quickly.
9. Consider Hiring a Real Estate Attorney.
Not all states require sellers to bring a real estate attorney to the closing, but it might be worth it to have a legal professional on your side, especially if you’re selling your home by owner.
An attorney would be able to spot title issues like outstanding liens that could potentially hold up your sale.
Finally, while all the hype is to sell your home be sure to do it right! Build your future with S W Wold Construction.