The key is to be properly prepared. If not, your home could remain on the market longer than expected because you are not attracting and getting offers from qualified buyers. This can be a point where many homeowners become frustrated and consider giving up their dream of selling their homes themselves. However, some sellers accomplish selling their own homes, very well. You can be one of them.
To help you prepare, here are 10 inside tips that you should be aware of before you decide whether this is the right approach for you.
1. Price it Right
Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low. Home prices are determined by fluctuations in the marketplace, not by your emotional attachment or by what you feel your home is worth. To establish a realistic price for your home, objectively compare the price, features, and condition of all similar homes in both your neighborhood and other similar ones that have sold in recent months. It is also important for you to be familiar with the terms of each potential sale. Terms are often as important as price in today’s market. Carefully budget your selling costs and prepare a net proceeds sheet to calculate your best estimate of what you will take away from your home sale. Prospective buyers may also request this kind of analysis of buying costs.
2. Prepare Your Home for Sale
First impression is crucial. Make sure your home makes a positive statement by carefully inspecting all details and viewing it through the objective eyes of a buyer. Don’t gloss over needed repairs and fix-ups, as your prospective buyers won’t. Your job is to ensure that your home stands out favorably from the competition.
3. Prepare Yourself With All Necessary Legal Documentation
Not surprisingly, there are many important legal contracts and documents that you must assemble, complete, and understand. A partial checklist of forms that you will require for prospective buyers and legal documentation is as follows:
• Seller Disclosure • Purchase Contract
• Mortgage Payoff • Loan Application
• Deposit Receipt • Property Profile Fact Sheet
• Buyer’s Cost Sheet • Closing & Settlement
• Personal Property • Exclusion List
• Property Survey/Plot Plan • Sellers Statement of Representation
4. Market Your Home Effectively
Beyond the sign you will put on your lawn, you should find effective ways to spread the word about your home. Local buyers can be reached through the newspaper, but this is only a small part of the market you are after. Be sure you include the many buyers who could already be working with a Realtor®. To locate them, target as many top agents as possible in your market to see if the criteria of their buyers match that of your home. Because out-of-town buyers are also an important target, you should create a strategy to reach these people as well. Above all, you should be very service-minded and make it easy for pre-qualified buyers to view your home. Ensure there is always someone available to answer the phone, pick up messages promptly, and be ready to give qualified prospects a tour of your home as soon as possible.
5. Remain Objective During a Showing of Your Home
Keep emotion out of the sale of your home, and the best way to do this during a showing is to remain physically in the background. If a prospective buyer says something negative about your home, it is better to counter-balance this point of view by illustrating the positives rather than becoming defensive.
6-10. To request the full report with the final points and how you should know them, click HERE or call toll-free at 832-993-1644! NOW!
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