Selling a house can sometimes cause anxiety and confusion, especially if you haven’t done it before. If you have decided to sell your house, then it is important to go step by step so that you get the best deal.
Otherwise, you will end up staying long before finding a buyer or getting a raw deal. Avoid being driven by emotions or influenced by friends.
One of the first things you need to decide is how you plan to sell the house. Are you going to use a Realtor or sell it by yourself?
There are several things that homeowners should keep in mind before selling a house. Below are some of the considerations:
- Do your research
Before you start looking for buyers, one of the first things you should do is carry out some research. Look around the property market in your areas and seek to answer some of the important questions.
What is the average price of houses? Is it the perfect time to sell? Will I look for buyers or am I going to use a real estate agent? How much do agents charge?
Doing research will put you in a good position when it comes to getting buyers. For example, knowing the price of houses within your area will give you an idea of what price to quote, when listing your house for sale.
Without proper price information, you might quote too high and scare away potential buyers or quote too low.
- Put your paperwork in order
Most people tend to ignore this part when selling a house. If your paperwork is not in order, you risk delaying the sale process.
For instance, you need records of all the repairs and renovations you have done. You also have to show the last time an inspection was conducted.
Some of the documents you need to have prior to sell your house include the following:
- Roof warranty
- Warranties for HVAC and other equipment
- Home improvement project and
- Any permits, where applicable
- Conduct some repairs
You probably want your house to fetch the best price, right? The only way this is possible is to ensure that every little thing inside and outside your house is fixed.
For example, take a look at the drainage system to find out if there’s anything that needs to be repaired.
In other words, you should leave the house in its original condition. Remember several buyers will stream in to impact the house before making any offers. The more damages they find, the lower the price they will quote.
- Carry out a house evaluation
It is always important to conduct your own evaluation, to determine how much your house is worth. This can only be done by a professional company such as the Australian Quantity survey service.
The company will conduct an audit and issue a house valuation report.
The valuation report should give you grounds to quote the right price for your house. You can also use the valuation report as part of the official documents while closing the deal with a buyer.
- Find the right agent
Selling a house through a real estate agent is arguably the best option if you want to sell it first and at a good price. Although it is possible to fetch a good price by selling it directly to a buyer, chances are it will take longer than usual.
Real estate agents are experienced. They understand the property market better than anyone else. They are also skilled negotiators and will bargain for the best price for your house.
However, not all of them can be trusted. That’s why you should conduct due diligence to get the right agent.
- Great presentation
Last but not least, ensure that you put your house in a condition where potential buyers will admire when they come for a viewing. Remove all the clutter and personal property, so that buyers can picture themselves in the house.
Ensure there is enough lighting and no bad smell around. After that, you can invite a friend or family member to get a second opinion. In case a buyer wants to do their own inspection, you are confident of getting a positive report.
Autobiography
Eric Reyes is a passionate thought leader having been featured in 50 distinguished online and offline platforms. His passion and knowledge in Finance and Business made him a sought after contributor providing valuable insights to his readers. You can find him reading a book and discussing current events in his spare time.