There are several key factors to consider before selling your home. As soon as your home hits the market, you’re usually hyper-focused on locating the right buyer. Of course, there’s plenty of additional considerations to keep in mind throughout the process. Without the right steps in-mind, selling a home can quickly become an overwhelming, daunting, and stressful task. If you’re planning on selling your house in the near future, you obviously want everything to move along easily, quickly, and problem-free. This way, you can successfully sell your property without encountering risk or paying down debt. Plus, you’ll be able to secure the highest possible sales price for your former property. Read on to learn about the key factors to consider when selling your home.
Make Your Property “Open House” Ready
First and foremost, make your property “open house” ready. You want your house to look show ready before scheduling any tours, realtor visits, or open houses. After all, potential buyers want to see a nice, clean, and tidy place. Most importantly, clear out any clutter, old décor, or dingy appliances. Now is also a great time to make any simple upgrades in the kitchen, bathroom, or bedroom. Install new carpets, update dated curtains, and replace broken fixtures. Then, carve out a day-or-two for deep cleaning. Many home sellers prefer to hire a professional cleaning company for the day. Be sure to address any lingering odors or pet smells. Surely, make your property open house ready before listing it on the market.
Get A Sellers Home Warranty
Before you commit to selling your home, consider the upside of purchasing a warranty. A seller home warranty gives you critical coverage while your property is for sale on the market. If any issues arise during the “Under Contract” stage, these service contracts address potential problems and safeguard the transaction. Once the house sells, include the home warranty along with the purchase – inspiring potential buyer confidence. Purchasing a home warranty helps you mitigate risk from unexpected repairs, unforeseen issues, and costly out-of-pocket expenses. Plus, it adds value and differentiates your listing – helping the property sell faster. Certainly, consider getting a sellers home warranty to maximize protection during your real estate transaction.
Think About Real Estate Marketing
You may also want to think about how you will market, advertise, and spread the word about your newly-for-sale home. Most sellers prefer to partner with an experienced real estate agent – who has a strong foothold in the local area. In exchange for an affordable commission, a skilled realtor will handle all these responsibilities for you. They’ll list your property on an MLS, coordinate home photos, and schedule open houses with prospective buyers. Of course, you can always market your home by yourself. Keep in mind this is far more difficult, especially if you’ve never sold a property before. Indeed, take some time to think about real estate marketing once your property officially hits the market.
Calculate The Financial Ramifications
Now, you are ready to think about the financial ramifications associated with selling your home. Most importantly, know how much you can possible net from the real estate transaction. At the same time, factor in how much you’d be required to pay in capital gains taxes. This should give you a better idea of what you can spend on your next home. Unless you can comfortably afford both properties at once, don’t buy anything until your sale is finalized. You can always ask to pay the new owners rent-back for the first couple of months. Or, make short-term living arrangements at a hotel, townhouse, or apartment.
Start Reviewing Offers
Once the offers start coming in, it is time to start reviewing, negotiating, and possibly accepting. Your trusted realtor will be a valuable resource during this process. Depending on current market conditions, your home may go above or below the asking price. At the same time, certain buyers may be more open to negotiations. When you’re faced with an offer, you have the option to counter-offer, accept, or reject. Definitely, start reviewing offers together with your home real estate agent.
There are several key considerations to keep in mind when selling your home. First off, you need to make your home open house ready. In addition, consider the potential perks, benefits, and upside of purchasing a sellers home warranty. From here, you may also want to think about different options and avenues for real estate marketing. At the same time, factor in the financial outcomes of selling your home. Then, you are ready to start reviewing offers – and determine whether to reject or accept. Follow the points above to learn about the key factors to consider when selling your home.
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