Things to Consider When Selling Your Home
What are the reasons you are selling. Be sure to write down all the reasons you are selling your home. Then you should ask yourself “why do I want to sell?” and “what do I want to achieve from the sale of my home. Is it because your family is growing and you need a bigger home with a nice side lot and an extra room or am I moving because of work. Work with your real estate agent (they call them broker in Colorado) to put together a strategy for selling your home that helps you achieve your goals in a specific time frame.
Pricing is one of the biggest things in selling your home. So now that you have decide that you want to sell your home, your next big objective will be to determine a fair listing price. It’s definitely pretty hard to be impartial about your own home because of the emotional attachment that occurs after living in your home for many great years. Your real estate broker will help you to determine what the market to price for your home would be. Getting pricing right is absolutely crucial when putting your home on the market, because an overpriced property will sit on the market until you adjust the price accordingly and an under priced home will lose you equity you put into your home.
Staging. To get buyers into your home you have to have fabulous professional photos and virtual tour. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible. More is less. If you don’t know how to do it, hire a professional stager. If your home is vacant it is even more important to have it staged by a professional stager like the “White Orchid”. Studies by NAR(National Association of Realtors) show that professionally staged homes sell for more money and a lot faster.
Marketing. Your real estate professional will set up a marketing strategy specifically for your home. There are many avenues to get the word out, but the most effective is the Internet . 90% of all buyers start their search on the Internet. 37% found their house that way. 35% find it through an agent. 15% find it because of a yard signs , 5% because of an Open houses , and only 3% because of print advertising. It is impertinent to choose an agent who is knowledgable with Internet marketing; look for an agent that has the IMSD .
Receive an offer. Once you receive an offer your agent will present and discuss it with you. Besides the offering price there some important factors to consider that are part of the offer: financial strength of the buyer, time frame, contingencies. Sometimes it is wiser to choose an offer that might not be the highest but the most solid.
Negotiation. Most offers will require some negotiating to reach an agreement/contract. Your real estate agent should be well versed on the intricacies of the contract used in your state and should advice you throughout the process..
Under contract. This means that the seller has reached an agreement to sell the home and it has not yet closed. Usually during that period before closing title work is performed, due diligence documents are provided, inspection, appraisal, survey is ordered.
Closing. At “Closing” the property ownership is legally transferred to the buyer by recording the deed and transferring title. It is usually performed at a title company or the listing brokerage office. Sometimes last-minute issues may arise and your agent can be of great value in those situations.
This is not real estate or legal advise. It’s just the views of an Evergreen Realtor.