After having made up your mind that you will sell your house, you need to prepare it properly. You must keep in mind that you have only one opportunity to make a great first impression. Remember, you also have to win the buyer over by making them picture themselves like they are already the owners of the property. That means that you have to remove your belongings and everything that creates your presence in the house, for example personal collections and souvenirs.
Here are some things to keep in mind while selling your house:
Assign your Home the right Price
Pricing your property is crucial and will influence how fast you will sell your property and even what amount you will walk away with at the end of the sale. The purchasing power of the buyers is dependent on the prevailing economic conditions across the nation and even beyond. The market forces of supply and demand also influence the price that the buyers are willing to pay. You need to find the prices of similar homes in your area and identify your home’s unique features or weaknesses. Working with experienced realtors is a better idea to help you establish the right price.
Get a Real Estate Broker
You may decide to list your property as for sale by the owner (FSBO) or engage a reliable real estate agent. If you have no idea how to go about the marketing, showing potential buyers, preparing the property for sale, negotiating and closing the deal, or you barely have time, engaging realtors is better.
Since the agents are pros in their field, they have a broad reach to customers and have a ton of information about the property market in your locality, so they can sell it quickly and at a better price. However, you need to know you will part with part of the sales proceeds as their commission. You may also decide to avoid engaging realtors or even sell the home yourself. In such a case, you can sell it to Home Flippers, who buy homes quickly at fair prices and in any condition.
Have the relevant Documents
Besides preparing the houses for sale, you need to have the proper documents ready and in order since inquiries may arise regarding the ownership, compliance with laws, and so on. You should prepare to avail any documents that listing agents, lawyers, or potential buyers may ask for. Some key documents include the sale or purchase deed of the home, share certificate from the housing society, mortgage satisfaction letter, utility bills, rental agreements, and other information. Have all of the council or town permits closed and rectify any building violations. Consult with your accountant about any tax issues arising from the sale.
Prepare for the Transfer Process
You need to make the necessary arrangements for the transfer of the property to the new owner. It is crucial to know who will bear the transfer cost. No defined party should foot the expenses, but whatever was agreed to during the negotiation process is applied. The realtors’ commission after the sale should also have been agreed to earlier.
Selling a home is a long process and you must prepare yourself adequately. You are better off working with professionals such as real estate agents, attorneys, accountants, and others. It can save you lots of headaches and ensure that the process is free of fraud or other issues.
