Selling your Home? Check these Guidelines
Posted: Thursday, December 04th, 2008 | Views: 14465
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Thinking about selling your home? This checklist helps you to get the most for your home.
1. Decide to Sell
Whether you are relocating to another town or state, or need a larger or smaller house, deciding to sell your present home is a major decision. If you plan to purchase another house, in most cases, it's advisable that you sell your current home first. By hiring an expert agent/consultant, you can minimize the stress of selling and obtain the maximum return on your investment.
2. Working with your agent/consultant
Selling a home can often be a stressful process. Having an expert on your side will help you get your home evaluated, prepared and marketed. An expert agent will help you prepare your home for sale and their marketing skills will allow you to obtain the maximum return on your investment.
3. Comparative Market Analysis
Take some time to make a comparative marketing analysis of similar homes that have recently sold in the area, as well as homes currently on the market. With this information, you will be able to price your home correctly.
4. Disclosure
It's always advisable to prepare disclosure packages for prospective buyers. Legally, sellers must disclose all known material defects of a property. Disclosure packages should include any inspection reports the sellers have, as well as, mandatory disclosure documents which should comprehensively discuss all aspects of the property. This information will help you to decide whether to make repairs before coming to market, or merely disclosing the status to potential buyers.
5. Prepare your Home
The three most important factors in selling a house are location, condition, and price. There is little you can do about the location of your house. If it is priced correctly, the next most important thing is to make your home look better than any of your competition. Remember what first attracted you to your house when you bought it? An attractive property grabs buyers' attention and makes them excited about finding the house that fits their dreams.
6. Staging
Staging has become very popular these days. As updated homes that were nicely decorated continuously sold quickly and for top rupee, it became apparent that appearance was one of the most important factors in obtaining the highest price. Staging can be as minor as de-cluttering to completely remodeling the home, including landscaping.
7. Marketing Your Home
Once you have prepared your home properly for viewing, work with your agent to advertize it suitably such as the print and online media. Some of these include a customized website listing of your home, including a full pictorial tour of the home, information on the neighborhood, schools and written description of the property.
8. Accept an Offer
Evaluate each offer and related terms and conditions to finalize a transaction that best meets your needs. Selling your home requires objectivity during negotiation process.
9. Home Inspection
Once you have accepted the offer, the buyer and buyer's agent will inspect your home. They may either seek a professional's assistance or do the inspection themselves.
10. Closing & Advance
Once an offer is accepted, the buyer will place the initial deposit as a confirmation. Transaction begins when an offer has been accepted and the buyer has placed a deposit on the house. Transaction ends when your sale is recorded by the legal departments and the buyer becomes the legal owner of the house.
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