Whether you’ve lived in your home for a short period of time or for most of your life, selling it can certainly be an emotional and difficult matter in hand.
The decision alone to sell your property takes a lot of careful thought and consideration. Once you reach a conclusion, it’s time to prepare and there’s no time like the present to practice your patience and prepare yourself for the potential obstacles that lie ahead.
Choosing The Best Price
Deciding on an asking price might be your most difficult task, because you don’t want to drive potential buyers away by asking too much, and you don’t want to close the deal with an amount less than what you believe is the true value of your property.
Changes in the real estate market can add to this difficulty, so one of the better solutions is to consult a property appraiser who can provide you with an appropriate asking price based on the building cost, problems with the property, renovations and changes in market value. In addition, a real estate agent will help you to set a fair market price based on the market history and similar properties for sale in the area.
Your buyers would like a home that’s functional. To ensure that your house doesn’t sit on the market for too long, you’ll want to check that your property is in top quality condition. This means you’ll have to put aside some time and money to change the unappealing paint colors, replace that dirty and stained carpet, and fix that broken, rusty faucet.
These efforts shouldn’t go to waste either, as updates typically call for a small return on investment. Potential buyers want to know that they can move right into your home without any hassle of repairs. Your property should have a spotless appearance for every house showing, so that buyers know the place is well taken care of and will take care of them. Here are some great tips on how to make your house more appealing to buyers. This advice will go a long way in helping your property sell for top dollar!
Finding a Good Agent
Your property has likely been one of your largest investments you’ve made so far,and therefore, you’ll want to be sure to have it in good hands with a real estate agent that will help to sell it for its true value. It’s important to find an agent that has experience in the field and is knowledgeable about market trends for your specific area. Take some time and do a little research on the web. Make sure you ask some appropriate real estate interview questions. Choose an agent that has an extensive marketing strategy to get your property sold in a reasonable amount of time. Your agent should have good reviews and testimonials to back up their promises.
Living in a Busy Market
If you live in a prime location, with lots of properties on the market for sale, numerous foreclosures and new construction, it can be tough to compete. This can leave you at a slight disadvantage because buyers have more options for homes in your area. This could end up in you having to lower your asking price.
On the flip side, living in a strong market switches the advantage to you, because the small competition could mean buyers will be more willing to pay a higher price in fear of someone else snagging up the property. You’ll definitely want to create a place that’s unique and most appealing to buyers to thrive in your current market. While it can certainly be a challenge selling in an area where your home is similar to the rest, it can present you with an exciting challenge to make yours unique.
Dealing With Life Challenges
Life can certainly pull some setbacks. Sometimes, you have to sell a home during circumstances beyond your control, and combating the emotional stress can be a hindrance in preparing for your sale. For example, if you’re currently selling your house while going through a divorce, you’re already facing numerous challenges in addition to selling your home. Hiring an attorney can provide you with guidance throughout this difficult situation. Life happens, and as long as you maintain a good stride and accept the challenges, you’ll overcome them in time.
Selling During The Off-Season
While some seasons aren’t a complete flop to sell in, there are certain seasons that definitely hold more success than others. Most often, the cold winter weather can slow down the real estate market. Not to say that it’s impossible to sell a home in the winter, but many obstacles can get in the way. When you throw in the big holiday season, it doesn’t do much to help your case either. Sometimes, you don’t have a choice and are stuck trying to sell your home amidst unfavorable weather and the busy holiday season.
If this situation rings true to you, then you’ll need to try and distract buyers from the unpleasant weather by creating a home atmosphere that’s as warm and inviting as possible. Turn on lots of lights and offer hot chocolate to buyers who tour your home to lighten the mood.
Closing The Deal
If the time you’ve enjoyed at your home has flown by, and you’ve lived on your property for a long time, the task of closing the deal might cause some trouble for you. It’s likely you’ve built a strong emotional attachment to your property. It’s tough to say goodbye to the place where you’ve grown, and perhaps have created a family in.
However, if you’ve made the big decision to sell your property, then you must be prepared to let the property go. At this point in the process, it’s crucial that you leave your emotions at the door and focus solely on selling the home at a price that’s reasonable for both you and the buyer.
Sure, selling a home presents many challenges, like choosing the right asking price, staging your home to look its best, and making any last-minute repairs to ensure the home is move-in ready, but when you find that one buyer looking to put in a solid offer, all of your efforts will be worth it. Keep in mind that once you put your home on the market, it’s no longer your home, which means it’s time to part ways with the property you’ve grown to love and sell it to someone else to enjoy.
This article was written by real estate expert Shannon Bachar of Neighborhood Loans. Contact Shannon for your home loan and mortgage needs.