What to Know Before Trying to Sell Your Own House
Saturday, April 2, 2016, 6:00 AM | Leave Comment
Many people opt to sell their own home to avoid the realtor fees and hassles. Selling your own property is more conducive if you have a tight budget and don’t have any wiggle room, but there are a few things you need to know first.
While this option may sound attractive, taking on such an endeavor does require a great deal of work.
Here are some tips to ensure that selling your home is an easy process.
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Be Prepared
Sine you don’t have a realtor helping out, you will need to be ready at a moment’s notice to show your home.
You must schedule appointments, run your own online listings, and market the property in the same fashion that a realtor would.
Prospective buyers tend to be a little freer when a realtor isn’t involved. They may stop by at 9 pm to see the house, and you’ll want to be ready. While you can always turn them away, you may also turn away a sale.
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You May Need To Hire A Lawyer
A real estate lawyer can be a valuable asset for those who don’t have a realtor to facilitate everything.
There are title searches required for the property, inspections, and it can all be a great undertaking.
The closing occurs about 30-45 days after the agreed sale and a walk-through must be done.
Things like the walk-through are very important and can be disputed after the sale. A lawyer can protect your interests and make sure that you are legally covered should anything at a later date.
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Price Wisely
Before you know how much to list your house for, you need to run comps in the area, as well as have an appraiser gives you a value.
The comps will tell you what homes are selling for and make sure you stay competitive. The appraisal is how much the bank will loan on the home.
If you want to sell your home for $200,000 and it’s only worth about $180,000; someone will need to pay that deficient out of pocket. The pricing is something you don’t want to mess up, as it can turn away potential buyers.
If you’re not satisfied with the amount that your house is appraised for then you can always try to up the value yourself before selling. There’s a few different ways to do this, it would be worth checking out this article here from Groom & Style which has some good advice on increasing the value of your home.
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Market Appropriately
Putting a sign in the yard that shows the property is for sale will only do so much. You need to really put some effort into marketing. Take great pictures and really stage the house for success. Remove any personal items, and keep the home open and free of clutter.
Listing your home with online services like Homecodec is a great way to really get the listing out to many potential buyers. Never underestimate the power of the internet and social media to help sell your home.
Holding an open house is also a great idea to ensure you get plenty of traffic and drum up some interest in your home. When everything else fails, post an ad on your social media account and ask your friends to share it. Selling a home is easier than ever before.
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