If this is your first time selling a house, then you might be under the wrong impression that it’s a pretty straightforward process. If you come across anyone who says that the actual act of selling a home is fun, they’re probably lying. This can be a very stressful time, and can lead to disappointments or delays when not dealt with properly.
This is why you should have a clear plan in place and understand what selling a property really involves so you can avoid unpleasant surprises and make sure that the process goes as smoothly as possible. Here are 5 things you should know before selling a house.
Working with the Right Realtor is Essential
Not all realtors are the same, and some have better skills than others. Some might be better at understanding markets, and making sure that you get offers fast. Others might be better negotiators and help you get the best deal for your property, and some might be just plain incompetent. This is why it's important that you thoroughly interview any realtor you’re working with, and know which questions to ask. You want to know how long they’ve been in business for, and how many houses they’ve sold. You also want to know how fast they’re usually able to close sales.
The realtor should also be able to connect you with previous clients, and be tech savvy enough to use online tools to market your listing.
Know the Fees Involved
There are tons of hidden fees involved when it comes to selling a house, and you’ll have to take those into consideration when evaluating offers. Some of the typical fees for selling a house include home inspections, closing costs, and dealing with cosmetic or important issues. Some sellers may also decide to cover some of the fees associated with a sale, or even pay for a home warranty to sweeten the deal.
Know Which Paperwork You’ll Need
A lot of owners are also surprised by the amount of paperwork they’ll have to produce. While most will be important from a legal standpoint, some documents will be used by your realtor to write a compelling listing to attract the right type of buyer. Some of the documents you might be asked for include roof/furnace age information and warranties, HVAC system age along with manuals, date of major home improvements, and related certificates of compliance just to name a few.
You Should Consider Inspecting the Property Before Listing it
It’s usually a better idea to have the house inspected before you put it on the market. If you’re going to hire an inspector, you should consider picking one that is accredited by the National Institute of Building Inspectors or the American Society of Home Inspectors. This will allow you to fix some issues that might become deal breakers later on. Also, if the inspector cannot find at least one issue, even in a new construction, chances are they’re not being very thorough.
Getting the Price Right the First Time Can Make a Difference
Also, know that the price at which a home enters the market can make a significant difference. Overpricing at the beginning and pricing the house down could end up costing you in the end. Also, don’t make the mistake of hiring a realtor based on how high of a valuation they give you. This could be a tactic to attract you, knowing very well that it’s not realistic.
Now that you know a bit more about the selling process, you can plan your sale, and start looking at professional help. Make sure that you know each and every step in detail, and work with someone who’s attentive, proven, knowledgeable, and has your best interests at heart.