How To Sell Your Home
The answer is simple, yet complicated at the same time. Read on about our advice and tips to sell your home any time of year, during any type of real estate market.
Step One: Hire a Realtor
This is the most important step. There are countless ads and opportunities available for home owners to attempt this on their own. However, let’s consider this; would you represent yourself in court? How about if you needed surgery? Is that something you would give the green light to yourself, or anyone to try out on their own? Likely not. When you decide to sell your home, the same care should be taken. Hire a professional.
As real estate agents we are extensively trained on the inner workings of real estate transactions. We have deep knowledge of the legalities involved in transferring ownership as well as disclosures. Negotiations without emotions are vital. It can be very difficult to remove emotions when determining the face value of your most prized possession, your home.
Step Two: Prepare Your Home For Sale
It is helpful that you have hired a Realtor in this step. Ask for tips from you Realtor on how to prepare your home for sale. Things you should add, remove or consider prior to selling your home. There may be repairs or clean up required, you may even benefit from home staging. Your Realtor can advise all of the necessary steps to take when preparing to sell your home for maximum profit in the least amount of time.
Step Three: Be Ready For Showings
Depending on how the market is at the time of your home sale you may want to consider leaving your home for a few days to allow for showings to happen without disrupting your daily life. When your home is for sale buyers will arrange appointments with their Realtors to view it in person. Sometimes on short notice. Because you want your home to look it’s best for any potential home buyer, heading off for a weekend away or staying with family might be the easiest option. If doing this isn’t an option for you, or you are in a market where your home sale could take more then a few days be prepared to be ready for showings. This can be a little stressful but worth it for sure. Ask your Realtor for advice on the best options to be ready for buyer visits during the process of selling your home.
Step Four: Remove Emotions
You love your home. You have renovated or decorated just to your taste, you have created many meaningful memories there. So it is very easy to be emotional about it. However, when selling your home you must always remove emotions. Listening to feedback from potential purchaser’s can sometimes feel hurtful. For example; not all home owners like certain paint colors or design styles. Further to this, emotions should never make their way into the negotiations. It is always best to focus on the positive and your future ahead vs getting hung up on or offended by feedback or negotiations. Take nothing personally in the sale of your home. Know that what is ahead of you is exciting and you will have the fond memories of the past to take with you.
Step Five: Know Your Numbers
Know all of your numbers to the dollar. This is a very important component that should never be overlooked. Not just the obvious numbers either. Here is a brief list of numbers you should be very clear on when you decide to sell your home:
- Current mortgage pay out PLUS any penalties
- Down payment needed for next purchase
- Bridge loan fees/costs (if applicable)
- Any additional costs associated with your next mortgage ( do you have to pay out any debt to be approved)
- Closing costs including lawyers fees and land transfer taxes
- Real estate fees
- Moving costs
- Balance of unpaid property taxes to be cleared at closing (if applicable)
- Utility change over fees or deposits (if applicable)
Step Six: Understand Your Legal Obligations
This is again where hiring a Realtor to help you sell your home is important. There are several legal obligations that most home sellers are unaware of that can pose serious problems during the home selling process if handled incorrectly. Did you know that as a home owner that has sold their home there are certain obligations of disclosure that if missed can result in serious lawsuits after a home is sold? Things that could seem trivial to you could be very serious to another potential home buyer or purchaser. Be sure to consult with a professional when selling your home to ensure you are meeting and understanding all of your legal rights and obligations.
Just like any major decision in life, selling your home comes with many steps to consider. The process is never as simple as it seems; however when executed correctly with the right amount of professional support and advice it can turn out to be one of the best and most fruitful.
If you would like to learn more about how to sell your home in any market don’t hesitate to reach out to us!
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