Seller Tips To Sell Your Poperty (Part 1 of 3)
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Your home may be your biggest asset. Selling it is probably one of the most important decisions you will make in your life. The following tips are good items to keep in mind through the selling process.
1. Understand Why You Are Selling Your Home
Do you need to sell quickly or have the ability to wait out for the highest price? How you stratgetize your selling plan will need to adjust to your timeline, finances and also work around where you may be moving to and those timelines.
2. Keep the Reasons You Are Selling To Yourself
The reasons you are selling your property will affect the way you negotiate it's sale. By keeping this to yourself you don't provide leverage to your prospective buyers. For example, should they learn that you must move quickly due to work, death, divorce, family growth etc. you could be placed at a disadvantage in the negotiation process. When asked, simply say that your housing needs have changed. Remember the reasons you are selling is only for you to know.
3. Before Setting A Price - Do Your Homework
When you set your price, you make buyers aware of the absolute maximum they have to pay for your home. As a seller, you will want to get a selling price as close to the list price as possible. If you start out by pricing too high, you run the risk of not being taken seriously by buyers and their agents and pricing too low can result in selling for much less than you were hoping for.
Setting Your Home's Sale Price
a) If You Live In A Subdivision - if your home is comprised of similar or identical floor plans, built n the same period, simply look at recent sales in your neighborhood subdivision to give you a good idea of what your home is worth. You can compare price per sq./ft and then also factor in items like views, parking or additional features your property has or doesn't have.
b)If you Live in An Older Neighborhood - As neighborhoods change over time each home may be different in minor or substantial ways. Because of this you will probably find that there aren't many homes truly comparable to your own. In this case you may want to consider seeking a Realtor to help you with the pricing process.
c) If You Decide to Sell On Your OWN _ A good way to establish a value is to look at homes that have sold in your neighborhood within the past 6 months, including those now on the market. This is how prospective buyers will assess the worth of your home. For most comunities, a trip to City Hall can provide you with home sale information from the public records.
4. Do Some "Home Shopping" Yourself
The best way to learn about your competition and discover what turns buyers off is to check out other open houses. Note floor plans, condition, appearance, size of the lot, location and other features. Particularly note not only the asking prices but what they are actually selling for. Remember, if you're serious about getting your home sold fast, don't price it higher than your neighbors.
5. When Getting an Appraisal is a Benefit
Sometimes a good appraisal can be a benefit in marketing your home. Getting an appraisal is a good way to let prospective buyers know that your home can be financed. However, an appraisal does cost money, has a limited life and there's no guarantee you'll like the figure you hear.
6. Tax Assessments - What they Really Mean
Some people think that tax assessments or condo assessments are a way of evaluating a home. The difficulty here is that are assessments are based on a number of criteria that may not be related to property values, so they may not necessarily reflect your home's true value.