As a home seller, you always wish for a smooth experience where you find a buyer, make transactions, and hand over the house to the buyer. Unluckily, the process is not as simple, especially if you live in areas with low buying rates. If you plan to sell your home, we have prepared a comprehensive guide below to ensure the process runs smoothly.
1. Make upgrades
Sometimes, certain upgrades may not be necessary, especially if inventory levels in your area are low, and you might make losses rather than increase the resale value. You can seek advice from your agent on what to upgrade, as they know what most buyers look for. Generally, kitchen and bathroom upgrades are essential as they often provide the highest return on investment. Other upgrades include replacing the exterior doors and repainting the walls. During upgrading, you can also stage your home where you remove all personal items like wall photos. DIY crafts using recyclable items can come in handy while repairing simple things. Always remember that recyclables have a Triman logo to ensure they are not in contact with hazardous items.
2. Hire an agent
Social media platforms make it easier to locate real estate agents in the comfort of your home. You can look for various agents or ask for referrals and check out their work profiles. Once you have settled on a few agents, you can reach out to their former clients and ask about their experience working together and whether they would rehire them. Pay attention to their online reviews and how professional their listings are. Ensure you hire an agent you are compatible with and understands your needs
3. Determine the price and list your house.
Your house price reflects the number of multiple buyers you are bound to get and what their offer price could be. Consult with a real estate company about the value of your house and review recent information about properties sold in your area. This will give you an idea of the price bracket that your house falls into and ensure you do not underprice or overprice the house, scaring away the buyers. Do not make the common mistake of pricing your home too high initially and then lowering it incrementally, as it may alarm the buyers that there probably is something wrong. After pricing, you can list your home with professional photos and open it for showings.
4. Review offers and close deals.
After the showing, you will receive multiple offers from various buyers. Do not rush to close the deal with the highest bidder; instead, be guided by the down payment, payment method, type of financing, concession requests, closing date, and contingencies. This will ensure that you receive the best price and factors that are favorable to you. While making the transactions, consider hiring a lawyer to handle the paperwork and help you weigh the closing costs and tax implications.
You should have all the needed paperwork, such as the original purchase contracts, mortgage documents, tax records, and insurance to close the deal smoothly.
