So you’ve decided to do some home selling. Congratulations, this is an exciting business you’re getting yourself into. Whether it’s selling your parents’ house, your aunts’, your close friend’s, or even your own home, there are some things to consider before you can start marketing the house. One of which is how to set the price.
It’s really important to take time before you finalize your home selling prices. If the price is too high, the home will stay in the market for too long, waiting for someone who can afford it. Even if you chose to reduce the price later, it would show the potential buyers that even the seller realize that the home selling price was too high (and probably still is). But if the price is too low, this would easily sell but eventually brings damages to the sellers’ net expectation!
If you’re selling your own home, the chances are you’re going to want to set the price as high as possible. This might seem like an obviously silly thing to do, but it happens to a lot of people who either cherish their house too much, or are simply not aware of the real value.
The first case is a lot easier to handle. Remember that apart from the location, your home selling price is a major consideration in purchasing. So no matter how much you love your house, try to set a realistic price. Some things that might decrease (or increase) your home selling price are as follows:
a. Location. Sorry, this one’s a definite. A home in a more desirable area will cost more than less desirable ones.
b. House condition. A good maintenance shows that this home is worth being looked after.
c. Surroundings. Check out schools around the house and their quality. See how the weather would take effect. Watch those pesky neighbors. These things, though seemingly miscellaneous, applies to buyers and can affect the overall home selling price.
d. Extra features. Does the house own something the market is demanding? Does your home have a pool or a beautiful patio? Don’t hesitate in taking them into account of setting the price. Be realistic, though – a dusty, never-used fireplace, no matter how classy, will do nothing to your home value.
The second case – where you’re not sure of your house’s value – is a bit more difficult. You might want to read some home selling advertisements to see the price of the houses similar to the one you’re selling.
To help you finish off with an ideal home selling price, some standardized methods of price setting have been established. A Comparable Market Analysis (CMA) is “a comparison of similar properties in the same general area that compares actual sold prices”, in other words, comparing your house to similar ones to get a rough value. Nowadays Real Estate Agents can do CMA for you, and you can even do it yourself by the help of some websites.
Tag Archive: Sell Your House Fast
It’s not an easy job to selling a house. It’s a process. You just don’t publish your house, meet a buyer, negotiate and sell it, but there is a checklist to sell your house. The home selling checklists include some procedures you must do in the correlation of home selling.
This is the checklist you must pay more attentions to sell your house:
– Decide whether you pay an agent to sell your house or you just do it by yourself. Pay a realty agent gives you a little effort for you to sell your house. An agent will carry out all of business in correlation of your home selling checklist. You just hire an agent and pay him. But it will spend costs of course. So, it’s up to you to pay a little effort or bigger one.
– Be a communicative and informed seller. It is correlated with your promotion strategic. You can use media to promote your home, such as newspaper, pamphlet, DVD, or websites. Don’t forget to put the reasonable and proper price for your house.
– Get your house ready to sell by doing some preparations for your house exterior, interior, and appliances.
– Decide whether you pay a professional to do pre-listing house inspection or not.
– Doing some sales of your unnecessary furniture and appliances.
– Get familiar with financing terms, such as mortgage financing (fixed, adjustable, seller financing, assumable loans), pre-qualified, pre-approved, commitment
– Get familiar with negotiation and it stuffs, such as contract, offer, deal, etc. You should learn to do some offer approaching and all correlated with a legal transaction process.
– Know about what you can improve or not in your house, what you can improve such as interior, exterior and what you can not improve such as location, style, etc.
– Decide whether you will put a home warranty to your house or not.
– Find some tips to buy a new house while you have sold your old one.
– Decide for closing and settlement to a buyer.
– Making moving plans.
The home selling checklist above shows us that there are some involvements to sell a house. You should pay attention to home selling checklist and do the steps rightly. But if you decide to pay a realty agent to organize your home selling business, just let them carry out the points above. And your involvements in home selling will be decreased.
Someone you know is selling a home? Had successful experience in doing so before? For someone who’s never done it, home selling can be frustrating. If you think you can help selling a home, it usually means you’ve had enough satisfaction doing it before, and is willing to do it again. Good for you (and for the confused homeowners).
So how can you help sell a house? Most home owners will stumble even on the preparation phase – when they have to understand all the legal requirements. You might have known from your experience that getting the legal stuff straight is the first step of a home selling process, so an assistance on this would always be appreciated. You can help the owners understand difficult clauses in documents, or design the wordings in their contract forms.
Not keen on paperwork? Help advertising. See if you know anyone who’s looking for a house. If you have some potential buyers, think about who would fit better to the house. The good thing about having a “personal home salesman” is that it knows more than just facts about the house. Think about the neighbourhood, the size of the house, and the climate, and find someone who might be interested in the qualifications. Or if you work in a newspaper or magazine, you can help by posting up the advertisement.
Of course, the concept “helping to sell a home” also applies when you’re selling your own house with the help of an agent. If you want to improve the home selling process, there are some independent steps you can do. Spread out the news that you’re selling your home in the neighbourhood. Organize open houses to invite visitors. Provide your agent with complete information about your house. Put up extra advertisements where your agent may not cover; a blog or personal website is excellent for this. Some people are reluctant to help their agents selling their home on the reason of “that’s what they’re paid for!”. Remember that agents have a lot more clients to handle and may not always focus their attention on your house. The home owner is the only one who’s willing to voluntarily give out complete information to potential buyers at no cost! Also keep in mind that no matter how great an agent you have, if your house has been in the market for a long time, you are going to be the person most financially damaged.
Whether it’s helping sell someone’s house, or an agent selling your own home, an assistance in home selling is always needed. Homes are such large investments – one simply can not sell it alone.