Most homeowners imagine a stress-free transaction in which they advertise their property, locate a qualified buyer fast, gather the money, and deliver the keys. Wishful thinking, to be sure. Many factors come into play when selling a home, some of which you can manage and others that are beyond your influence.
Factors such as location can affect how long a home stays on the market or how much of a premium can be negotiated when selling it. You’ll likely sell more quickly and for a better price in areas where competition remains fierce and supply is low. In areas where real estate sales have slowed, however, you may need more effort to find a suitable buyer.
As a result, it’s in your best interest as a seller to take precautions and manage the variables you can. Hiring an excellent real estate professional and enhancing your home’s web appeal can result in a smoother closing and more cash in your pocket.
Here are some actionable steps for those wondering how to sell unwanted home fast Weber County and its surrounding counties.
Set a Deadline for Selling Your Home
Depending on the current state of the market and the amount of available inventory, selling a home can take several months, if not longer. When you decide to sell your home, you should begin looking for a real estate agent. But don’t leave it at that.
When you want to sell your house, a pre-sale home inspection should be performed for a minimum of two to three months. This is elective, but it can be valuable for identifying weak points, particularly if you anticipate structural or mechanical difficulties that may need to be addressed to permit a sale. Your realtor can also assist you in determining whether any repairs are necessary. Allow sufficient time for scheduling essential maintenance.
Determine Which Features to Improve and Which to Maintain
If you invest in expensive renovations, ensure that the modifications you implement have a high rate of return. For instance, if you’re going to make a loss on installing new granite countertops, there’s little point in doing so. In addition, these enhancements may not be essential to selling your property for top cash, especially if there is an absence of comparable properties in your neighborhood. Here is where a competent real estate professional can be of assistance: Agents are familiar with the expectations of the local populace and may help you design upgrades properly.
Furthermore, while a pre-sale house inspection is not required, it can be a sensible upfront expenditure, particularly in an older home. You can acquire a comprehensive report that points out all the significant issues for a few hundred dollars. This lets you know about problems buyers will likely notice when they inspect later.
Hire an Agent Who Knows The Market
The web makes it simple to research a real estate agent’s professional background and expertise, allowing you to select the most qualified candidate. Examine agents’ internet profiles to discover their industry experience, the number of closed transactions, and designations, if any. Consider how and where they advertise their listings, as well as whether or not they use professional photographs.
Remember that real estate commissions are often negotiable when working with an agent. Consequently, you may be eligible for a break at the closing table.
Take Professional Photos
Schedule a photographer to take promotional pictures of your home by working with your real estate agent. With the prevalence of internet property hunting today, high-quality photographs are essential. According to NAR, 96% of homebuyers use the Internet to research properties. Increasing the appeal of your property online can dictate whether or not it sells quickly or remains on the market for a long time.
Real estate agents’ services may include professional photography and interactive web tours. You may independently investigate finding a photographer. Your home’s size, location, and the photographer’s time spent taking pictures will all play a role in determining the final price of professional photography.
One of the marks of a competent professional photographer is making a space look larger, brighter, and more appealing in photographs. Your yard and outdoor spaces are the same, and Well-taken images may pay off, as bad ones might turn off potential buyers before seeing the friendly bike path adjacent or the new roof you recently built.
List Your Home Online
Your real estate agent will most likely register the listing with the neighborhood MLS during this phase (multiple listing services). To make your house more appealing to potential buyers, consider the following:
Pay attention to the home’s internet appeal: While you may be familiar with curb appeal, experts believe the online appeal is now much more crucial.
Please clean it up before showings and stage it so potential buyers can envision themselves living there. Staging a property involves:
- Making it look its best by reducing clutter.
- Highlighting its best features.
- Maximizing its possible selling price.
When prospective purchasers visit your home, you should remove yourself from the property and make yourself difficult to find. Permit them to visualize themselves in the space unimpeded by your presence and conversation.
Browse And Negotiate Offers
You can either take it as-is, counteroffer, or decline it when presented with an offer. You can make a counteroffer when you receive an offer and want to negotiate the terms and price. Counteroffers must always be submitted in writing and include a short response period (preferably 48 hours or less). For instance, you may like to retain your current asking price but provide a credit toward the cost of new paint and carpet. One way to sweeten the bargain is to offer to leave behind some personal belongings.
If you are fortunate enough to receive many offers, you may be tempted to accept the highest proposal. However, there are other details about the offer that you should consider:
- Payment method (cash vs. financing)
- Form of funding
- Provisional Cash Payment Amount
- Requests for concessions
- Proposed termination date
The property must be appraised if the buyer depends on loan financing, or the agreement could fail.
Think About Taxes And Closing Costs
Both the seller and the buyer are responsible for some closing fees in a property transaction. The real estate agent’s commissions, which often amount to between 5 and 6 percent of the price of the home sold, are typically paid for by the person selling the property.
The seller may also be expected to cover any or all of the following closing costs:
- Transfer taxes
- Recording costs
- Outstanding liens
- Legal Costs
The owner will cover whatever closing credits the buyer has agreed to, such as repairs. You should receive a full accounting of your closing fees from your real estate agent or the closing agent.
The process of selling a property is time-consuming and often confusing. Following these tips and working with a reliable real estate agent, you should be able to move forward easily.