Every year, the annual home sales season starts from April and ends in July. You may have heard your neighbors talking about selling their homes and if you want to sell your home fast for a good price, here are some tips.
If you have a deadline to sell your house because of relocation plans etc, be realistic about your asking price. This is especially true when you have a lot of enquiries but no firm buyers. Be willing to enter negotiation when you come across a potential buyer whose main issue is the home sale price.
If you are willing to hold on to your property for a longer time, it may be possible to wait for a home buyer that is willing to pay your asking price but your real estate agent may not be too happy since they wanted to quickly close the deal and earn your commission. They are known to avoid wasting time bring clients to view your home if they feel that you are not willing to compromise on the selling price.
If you have a trustworthy realtor, listen to his/her advice regarding the use of incentives to hasten your home sales process. You may appear to be a desperate home seller that needs money fast since there is usually no other reason to hold a fire sale for home buyers. You may end up with low ball offer prices instead of getting a good deal. Generally, we do not recommend home owners to offer incentives for selling your home quickly since the plan may backfire with potential buyers waiting at the sideline for you to drop your asking price.
There are many homes available for sale, so you can get the realtor to bring more home buyers to your place by offering a bigger commission fee. This will also encourage the realtor to work harder to sell your home fast at a higher price.
Note that seller funded down payment assistance for home buyers has been banned, so do not consider it even when the buyers suggest it. However, homeowners are allowed to pay the closing costs for your home sale.
If you are relocating for a new job, you can ask your new employer for assistance with your home sale. If your company offers a relocation package, you can let the company sell your home on your behalf. This will relieve your stress of trying to sell off your home so that you can relocate to a new state. The buy out process usually starts with a property appraiser that will evaluate the current fair market value for your home. A local realtor will be assigned to sell your home on the market.
On the other hand, if you cannot get a satisfactory selling price for your home, why not consider renting it instead. For example, you may only be relocating to another state for a few months or years, and you intend to move back because of sentimental or personal reasons.
When the market rate for renting a home similar to yours is around $1,000 per month, consider giving a small discount at $900 and real estate agents will be more interested in bring home renters to your home for viewing since the likelihood of cutting a deal is higher and their commission is at stake. Some people prefer the advantages of renting versus buying a home.
Another popular method to attract home buyers is through renting houses with the “rent with an option to buy”. Your tenants can move in and pay monthly rent initially and can choose to buy the home at the end of their lease. Note that some potential problems with renting your home and be the landlord is that tenants are less likely to take proper care of the property and it may not be easy to sell as many home buyers do not like to buy rental houses.
Be wary of advertisements that offer you fast cash for homes. You will not be able to get a good price and normally such deals only appeal to home owners that needed to sell off their property fast and get back some money. You are better off with a 4000 personal loan without risking your home.
Even if you are very familiar with the local real estate market, it is still better to hire an experienced agent to handle the sales process. He or she can help you price your home correctly based on its current valuation, curb appeal, furnishing and condition of your home. Usually, the initial price quote will also be based on how much similar homes in your neighborhood were sold at over the past 3 months.
With the current poor economic conditions, whether you can quickly sell your home depends a lot on the initial asking price. If you price it too high, very few home buyers will bother to come and take a look especially if there are significantly cheaper homes for sale in the neighborhood.
An experienced real estate agent can help you set a good selling price that brings in prospective buyers. You can double check whether it is too low based on the average home valuation in your neighborhood. Some dishonest agents try to convince home owners to sell at dirt cheap prices in order to quickly close the deal and earn commission.
Your agent will also be able to help you do some simple home staging and prepare for home buyers to visit. Make sure to clear all unwanted clutter and clean up the place. This will improve its curb appeal and leave a good impression. You home will look more attractive to buyers and fetch a better price. If you need some money to clean up your home before selling, get a small unsecured loan if you must.