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Introduction
Selling a home is not an easy endeavor. It requires a commitment of time in repairing, cleaning, showing, and negotiating. There are no crystal balls predicting how long your home will remain on the market or its final price. Plus there is the personal side of selling, such as the emotions stirred by letting go of a long-time family home.
Knowing current real estate market is important when considering selling your property and absolutely essential if you plan to do it on your own as in For Sale By Owner sale transaction. This homeowner’s guide covers the process from deciding to sell to the successful closing. By the end, you will understand what to accomplish in each phase of the selling process.
Table of Contents
Deciding to Sell…………………………………..1
How to Sell…………………..……………………2
Preparing Your Home……………………………4
Listing Considerations …………………..………5
Preparing to Show …………………..……………6
It’s On the Market …………………..……………7
Contract Offer …………………..……………….8
Sale Pending…………………..………………….9
Closing …………………..…………………..…..11
Conclusion…………………..………………….. 11
Preparing Your Home
The decision is made: you have committed to sell, know your financial situation and have a plan. You will FSBO or use an agent. Time to prepare your home to maximize the return on your investment.
Home Repairs
Start with a thorough home walkthrough inspection. Note the age of items like water heaters, the roof, HVAC and gutters. Check for wood rot around windows, doors and exterior siding. Keep an eye for all discoloration issues that could be a sign of bigger problems, like water stains on the ceilings or bulges on floors. Check all plumbing for leaks. Pretend you are buying your home. Be honest and detailed in the self-inspection.
After all potential repairs are identified, homeowners should consider personal finances and the situation. Any repairs will eat into the sale’s net equity. Factor closing costs when determining if the repairs could net a return on the investment. Timing may be an issue when deciding on repairs.
It’s true certain renovations can add to home value. Kitchens reign supreme as a selling feature, as do hardwood floors and replacing the roof. However, every home is different and it may not be worth the investment to renovate before listing.
There are other ways to spruce up a home’s interior inexpensively:
1) Repaint walls with a neutral paint
2) Replace cabinet hardware
3) Fix squeaky or stuck doors
4) Clean grout and tile
Sellers using an agent can consult to identify worthwhile repairs.
