Thinking of Selling your home?
- Define your goals for the next 5-10 years.
- Weigh the pros and cons of selling your house.
- Figure out if you can afford to sell, move and buy a new home.
- Calculate your home equity.
- Research the local housing market.
- Consider remodeling the home to fit your needs.
- List the repairs and projects you'll have to do to get your home in selling condition and estimate the costs of hiring supplies and contractors.
- See what projects you can afford and adjust how much you expect to get for selling your home.
- Consider remodeling projects and green upgrades that increase your home value.
- Expect to pay about 7 percent to 10 percent of the home's sale price in closing costs, including real estate agent commissions, transfer taxes and prorated property taxes.
- Professional home inspection
- Capital gains tax
- Mortgage payoff
- Staging and marketing expenses
- Moving expenses
- Cost of living in new city or neighborhood
- Costs related to getting a mortgage for new home
- Determine how fast you need to sell your house and how much money you want to get from the sale.
- Have a yard sale. Sell, donate or trash everything you don't need.
- Make necessary repairs.
- Make improvements to increase your curb appeal, i.e. the home's external attractiveness when viewed from the street.
- Hire a professional home stager or research staging tips.
- Declutter, depersonalize and decorate every room and outdoor areas so buyers can imagine themselves living in the home.
- Paint interior rooms neutral colors.
- Replace outdated lighting fixtures and window treatments.
Sellers Tips to Add Value to Your Home
1. Clean, organize, and neutralize your space: Unclutter your house to make it look bigger and cleaner. Buyers need to be able to envision their own belongings in the home; so, avoid using bright colors and too many personal effects.
2. Keep Your Lawn Green: Get your lawn in shape. A patchy lawn takes away from the home's overall appearance. Your local hardware store has supplies to re-seed those unhealthy areas.
3. Update kitchen appliances: The kitchen is often the room that buyers gravitate towards first, and an updated kitchen can help sell your home. You don't have to remodel your kitchen to give it a new look. Updating your appliances to the current standard and replacing cabinet doors and hardware can make a big impact at a relatively low cost.
4. Update bathroom fixtures: A little change can go a long way when it comes to the look of your bathroom. Updating simple fixtures such as your sink and faucet can give any outdated bathroom style.
5. Repair the gutter: Ensuring that your gutter is clean is crucial in protecting your home against water damage.
6. Light up the outside: An easy and inexpensive way to increase your home's outdoor space is to add lighting. It makes it more appealing and safer.
7. Store and organize: Ample storage space is a plus, especially when it comes to garages and closets. Efficient closet structures can help keep your clothes organized and can save space.
8. Consider a home warranty. A home warranty can help distinguish your listing from others on the market and boost buyer confidence.
YOU HAVE A SHOWING
- Start with a good cleaning, eliminate clutter, put away the knickknacks and tidy up the yard.
- If the weather permits, open the windows (if there is too much noise outside, close them). If it's cold enough to wear a sweater to stay warm, turn on the heat. You want the temperature inside to be comfortable and to give the buyer more of a reason to linger, especially on hot or cold days!
- Have chocolate chip cookies baking in the oven, or use lightly scented aromatherapy – such as lavender – to set the scene for a tranquil home. Put away pet toys, bowls, litter boxes, etc., out of sight as some people may not be fond of indoor pets.
- Open all the window coverings to let in light. If a particular window overlooks undesirable scenery or obstructed views, keep the blinds partially closed.
- Turn on every light in the house, including appliance lights and closet lights. Brighten dark rooms with few windows by placing spotlights on the floor behind furniture.
- Play soft background music.
- Move your cars to an alternate location, and allow your real estate agent to conduct the tour: potential buyers usually feel more comfortable – and less pressured – when the owners are not present.
PRE-SALE HOME INSPECTION
A home inspection is a thorough visual examination of the home and property. A pre-sale inspection enables you to address problems before you even put the house on the market. It also removes any questions about the condition of your home for you and a potential homebuyer, improving the speed, price and likelihood of a sale.
The inspection process usually takes two to three hours, during which time the house is examined from the ground up. It includes observation and, when appropriate, operation of the plumbing, heating, air conditioning, electrical, and appliance systems, as well as structural components, such as the roof, foundation, exterior and interior walls, doors and windows.
Some home sellers elect not to correct every defect found in the inspection report. Instead, they acknowledge the defects to buyers and explain that the asking price has been adjusted to reflect the estimated cost of repairs. This tends to shorten negotiation time, because buyers have fewer objections.
In addition to facilitating the sale of a home, an inspection helps the homeowner comply with full-disclosure real estate laws, governed by state laws. By focusing on the condition of your property, you are less likely to overlook a defect or material fact for which you could later be held liable.