Getting Your Home Ready To Sell.
Now that you have taken all of the preliminary steps in making your house as saleable as possible and have gotten your home ready for prospective purchasers, what’s next? And now your home looks good from the street, and it is ready for anywalk throughs at any moment. You have gone through the trouble of finding and repairing any possible problems.
Anything that is not taken care of is recognized and the buyer is informed. Barring repair, be prepared to make an allowance for the new buyer to take make the repairs himself. Don’t try to hide problems; you will risk being sued by the buyers.
Price it right. Your realtor can to give you a list of comparables, which are recent sales in the area of properties similar to yours. This list is important. Even though you feel your home is more valuable (it is YOUR home, after all), what other homes have sold for is more important. But temper the real estate agent’s arguments with your own reality. A faster sale translates to immediate cash in her pocket, so she may be interested in listing your home unduly low. Because of this, they may be prone to seriously underpricing your home in the interest of a quick sale. It’s best to find a way to balance the two opinions.
Even in a buyer’s market, you should still utilize the traditional trick of setting your price a bit higher than you hope to obtain. Every buyer is certain to offer a figure lower than the offered price. It is still important, therefore, to have a negotiation protection.
Timing is another important matter. Even in a strong market, homes move more rapidly in the typical selling seasons. In family neighborhoods, many people want to look around in the spring so they can close in the summer and have time to settle in before the children start school. If you live in an over 55 development, on the other hand, this will not be concern, but you may not have a lot of viewers over the winter when many older folks go south for the warmer weather.
Another big timing issue is when and where you are relocating. It may be a fine balancing act to try to sell just when you are buying your new house, but you want to avoid paying two mortgages. Because of the expense of a home loan, it may well be better to sell your current property before purchasing a new one, for a cushion of time. If you have an excellent opportunity to sell, you might even consider doing so before you buy the new home, to assure you don’t lose the sale. Renting for a short time would usually be cheaper than paying two mortgages, plus having the cash from the sale of the first home will put you in an advantageous bargaining position as you buy the next one.
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