What Every Home Seller Needs to Know
“Okay. I think it’s time to sell this place.”
However you came to this moment, selling your home is a big decision and raises a lot of questions! Our goal, here, is to answer as many of those questions as possible so you can move forward with confidence.
Getting Ready To Sell Your Home
What is the first thing I should know before getting ready to sell my house?
The market is ever-evolving. It can be a seller‘s market, a neutral market, or a buyers market. So you want to make sure that you price your home accordingly.
That’s why it’s a good idea to work with somebody who has their finger on the pulse of the market — not only the market in general, but the hyper-local market where your home is located. So the first thing we recommend is that you consider talking to a professional who sells homes every single day.
Pricing Your House to Sell
How accurate are online home valuations?
They’re probably getting better, but they convey a more national perspective. So again, we like to encourage people to deal with agents who are in their local market.
There are a lot of variables that go into pricing your home. So you should have somebody come look at it in person. Here are some of the questions they should ask:
- What are your finishings like?
- How many bedrooms do you have?
- Are they all true bedrooms, or are some of them nonconforming?
- How big is your lot?
- How much square footage do you have in your home?
All those different factors need to be taken into consideration when establishing the proper market value of your house.
How To Get Your Home Ready
What do I need to do to get my home ready to sell?
Again, we would suggest a professional come and take a look at it. They are going to be able to give you good feedback.
They will tell you if there is anything you need to do. You may need to update some features of your home. You may need to address some safety issues. You may need to make some repairs. Also, you may need to stage your home.
We always say less is more when it comes to staging. If you have a room that is full of furniture, that’s going to make your room look smaller. So we would possibly suggest removing some of the bigger items from the room to make the room show well.
There is a lot of valuable feedback you will get from just visiting with someone in your home.
What repairs can I make to actually add value to my house?
Not every repair or update adds value to your home. Some of the bigger items would be updating your kitchen or your bathrooms. Those are a little bit pricier, but they do add value to your home. Adding a deck will also add value to your home.
One of the other things that helps is simply having your home clean, neat, and tidy. Cleaning things like the baseboards and the ceiling fans does make a difference.
Again, if you consult with a professional, they will be able to advise you where you should spend your money, if any, to help you get the most out of your home.
What To Look For In An Offer
If I list my house and then receive multiple offers, what things should I look for in those offers to help pick one out?
First of all, you won’t always have multiple offer markets. But when you do, it’s a fantastic thing.
Not all offers are the same. So one of the first things you and your agent will want to look at is the type of loan associated with the offer:
Cash is king! Conventional is also great. But there are a multitude of other kinds of loans out there.
Also, if your potential buyer has a house to sell, that makes a difference too. When someone has a home that they have to sell before they can buy, that’s called a contingency. Contingent offers are not quite as attractive as non-contingent ones.
Here are some other questions you should ask when comparing offers:
- Are they asking you to pay their closing costs?
- How much earnest money are they putting down?
- How much of a down payment are they making? (This helps indicate their financial stability.)
When You Make A Contingent Offer
What if I need to know that I have a place to move to when I sell? That is to say, what if I’m the person who has to make a contingent offer?
That does happen. Most people can’t go ahead and buy two homes and have two payments! So there are some different tools and things you can use.
You can look at a bridge loan, which is basically when the lender is going to allow you to go ahead and buy a home based on the equity that you have in your current home. Then you just pay interest on that.
You can also make a contingent offer. Contingent offers aren’t necessarily bad. It’s just not as attractive if you have a choice. But if you don’t have a choice, then contingent offers are perfectly fine!
Delay In Finding Your Next Home
What do I do if we sell my house right now and I have nowhere to move?
We have tools for that situation too. We may tell your potential buyers upfront, “We’re going to need two months in order to find a home.” So we could extend the closing date out, or if we do go ahead and close, we can always lease the house back from the buyer.
Going Live On The Market
What happens when my house goes live on the market?
“Going live” means we’re going to go on MLS — the multiple listing service — which allows all realtors to show your home. You don’t just want one agent or company to be able to show it. You want every realtor in town to be able to show it! So that’s what the MLS does for you.
The MLS also automatically syndicates out to all the home shopping websites out there like Realtor, Zillow, and Trulia; there are over 750 of them!
Your agent should also be marketing your property as well. They should be marketing it on social media and should have a good website. They should also take professional pictures because that’s going to be able to help your home stand out and set it apart for potential buyers.
What can I expect when we close?
Closing day is a happy day! You’re going to want to bring your driver's license so the title company can verify who you are, as they are going to need to notarize some things for you.
You also want to make sure you know how you want to receive your money. If you want it wired to your bank account, just have your wiring instructions with you. Or you can pick up a check right then.
Then you are going to be able to move onto the next adventure in your life! So that’s a fun day!
You matter. So we ensure that you receive a personalized experience, prompt communication, and a professional work ethic from us.
We would love to partner with you to sell your home and get the most amount of money for it in the quickest amount of time as possible for you.
This is one of the biggest financial considerations you’re going to make in a lifetime. So we work our hardest to make your real estate dreams come true.
We look forward to hearing from you soon! Contact us today!