When it’s time to sell your home, you’ll have a lot on your plate! You’ll have to decide when to sell, how much to list your house for, and much more. It’s a complex and in-depth process, and it can overwhelm anyone.
Read on if you’re unsure what to focus on when selling your home. We’ll help you understand what you need to know before putting your house on the market to maximize your home’s selling price and peace of mind.
You Dont Need an Agent to List with MLS
The internet has made it easier than ever to sell your own home. You no longer need an agent to list on MLS (Multiple Listing Service). The MLS is a home sale database used by real estate agents. You can now list your home on the MLS without paying a real estate agent’s commission.
Be Flexible with the Timeline
Next, be prepared to get a little flexible with your timeline. You may have an ideal time to sell your house and be out the door to move on to your new property. But many buyers may not have the same timelines, and they may need to purchase your house sooner or later than you initially expected.
Take a hard look at your budget and consider how these timeline adjustments may impact things. Generally, the more flexible you are with your timeline, the faster you’ll sell your house.
Order a Home Inspection
Any homebuyer worth their salt will want an official, licensed inspection of your property to ensure there isn’t anything wrong with it. To streamline the process, order a home inspection before putting it up on the market (generally within a week or two of doing so).
Ordering a home inspection will save you a headache in the long run and attract more prospective buyers to your property.
Prep and Stage Your Home for Prospective Buyers
Speaking of prospective buyers, you should also make your home look excellent. Clean your home before a prospective buyer shows up to tour the property. Remove any family photos or other personal elements so buyers can see themselves living there more quickly.
If necessary, hire a professional stager to make your home look as excellent as possible.
Set the Right Price
Don’t try to sell your house for an exorbitant price that no one will be willing to pay. Instead, work with your attorney and set a price that’s attractive to potential buyers and will allow you to move into the property of your dreams.
You can set the right price by doing market research, such as looking at similar homes that sold recently and setting your price accordingly. Remember to consider how large your home is and the state of the wider housing market.
Be Prepared to Negotiate
No matter what price you set, you’ll need to be prepared to negotiate with a prospective buyer. A buyer rarely comes to you with a cash offer for precisely what you demand for the property.
If you do need to negotiate, remember to put everything on the table, such as:
- When you move out of the property, which may work better for your or the other party’s interests
- Closing costs (see more below)
- What comes with the property, such as appliances or furniture
- And more
A little haggling isn’t necessarily a bad thing! With your real estate agent on your side, you could get more money than you initially expected.
Don’t Forget Closing Costs
Lastly, don’t forget to consider closing costs when setting your house’s price and budgeting for sale. Closing costs as a seller usually include your real estate agent’s commission, attorney fees, outstanding liens, recording fees, and government transfer taxes. These can quickly add up to 4% or more of the total asking price for the house.
In the end, selling your home successfully is more than possible with the right real estate agent and some preparation on your part. Follow the tips above and sell your home for a great price, which you can put toward your next dream house on the horizon!
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