Things to be done before selling your property

Gauge the market’s direction and speed prior to putting up the ‘For Sale’ sign

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Putting up a “For Sale” sign in front of the house seems easy; however, selling it could be daunting task. One needs to consider how to spread the word through different means like online postings, listing with a realty brokerage firm, ads, circulars, or hiring a realty marketing strategist who may package the deal and locate potential buyers.

The realty market is dynamic and keeps fluctuating in terms of prices and location. Homeowners can always keep track of the market trends, including market direction and speed, and the potential selling rates of their house. If you are engaging a realty broker, he may be able to provide a selling a selling range from market analysis data. After checking the market details and comparing the property to other similar homes, settle on competitive selling price.

Check if the location of your home matches buyer’s needs and wants like a quiet and safe neighborhood and easy access to transport networks and retail and leisure facilities. If the location is not apt, you could find the creative ways of enhancing its positives and underplaying its limitations.

If you plan to make the deal yourself, maximize your negotiation skills and prepare to manage the entire selling process including terms and conditions and the legalities. Also, determine your time and energy investment against agent fees and the commission you save. If you opt and agent, ask for referrals, negotiate the fees and commission.

Before selling your home, you may need to consider its cosmetic condition. You could make small and low-cost upgrades like painting the walls and doors, de-cluttering, cleaning, and doing minor enhancements to its indoor and outdoor areas. Overall, the property should enable the buyer to picture living the in the home.

Besides, think about all the expenses incurred in selling a house. These may include repair/upgrade spends, staging expenses, market valuation or pre-inspection costs, utility bills, insurance costs, real estate agents fees, commissions and taxes, and many others.

A homeowner could also develop a post-sale financial investment plan capturing his long and short-term needs.

Handy Hints:

•  Selling a house includes market analysis, promotions, negotiations and upgrades.

• Determine whether the time you spent is worth the agent fees you will save.

• Check the underlying market factors that may affect property value overtime.

 

credit to Gulf News