How to sell your house for your asking price
If you are planning on selling your house, you need to research the market and have an estimator come through. You need to get the asking price out of your home if you want to come out ahead. Depending upon the market, you may to keep your home on the market for 2 years or longer. Each house is different and it all depends on how well you have done your research.
Realtors often state that the best time to put your house on the market is in the spring or if you are planning on buying another house. You will want to watch the market and put your house for sale when the interest rates are low. Lower interest rates are beneficial for the buyers and the sellers.
In order to get the asking price out of your home, you need to price it right to begin with. Research has found that homes sell faster when they are priced right to begin with instead of over-priced and then reduced after sitting on the market for several months. You can also choose to sell your home on your own or use an agent. If you sell your home on your own, you can easily save 6 percent of the total cost of the home. This gives you some breathing room in case you end up negotiating with a buyer.
|
|
Hiring a good Realtor really does have its benefits. When the market is bad, you want to find a real estate agent that is willing to work for you. They should be familiar with your neighborhood and will understand what types of homes you are competing against. Realtors work on commission, so they want to keep the asking price at a comfortable level for you. The longer your house is on the market, the more money your realtor loses. They do not get paid until you close on your home. This can be a good and a bad thing. Some realtors use this as motivation to sell your home quickly. Other Realtors will become frustrated if your home is on the market for too long and they may not give you the attention you deserve.
|
"How to set the price for your home"
When you are determining the value of your home, you need to do your research. If you set your house at a high asking price, you could end up losing thousands of dollars because it may sit too long on the market. Buyers are smart and they can gather tons of information about your home by searching several web sites and talking to their own realtor. Buyers will compare your home and its features to several other homes in the neighborhood and the county. They will determine the value of your home based on this information. You should research this information before you list your home so that your potential buyers can decide if you are being fair with your asking price. One of the best times to list your home is in the spring. Realtors always suggest listing your home in the spring because people are ready to buy at this time. They are also willing to accept a home for its asking price because they do not want to deal with the negotiation process. If your home has been on the market since last spring, you will need to figure out a new asking price. You may also need to take it off the market and re-list it in a year. A home that has sat on the market for too long is undesirable to buyers. Once you wait for awhile, you can re-list the home for a new asking price. Having a reasonable price means you will draw interest from more buyers, giving you some reasonable competition. When buyers know there is competition in the picture, they will compete for the home if they really want it. They will be willing to overlook any problems and they will give you higher offers. Always talk to Realtors when you are setting the price of a home. A Realtor will be able to give you a good estimate as to how much you can sell your home for, including the highest possible figure you can get if you have two buyers involved in a bidding war. |
The best way to sell your home for your asking price is to compare it to the home sales in your area over the last 3 months. These homes must be comparable to yours. Once you have found a few, pick a priced based on those figures. You can go above that price or below it, whatever you feel your home deserves. You definitely do not want to have the most expensive listing out there. Your home should fall somewhere in the middle of the other homes that are currently for sale.
If homes haven't been selling in your area, expand your search a little bit. Try to keep the search within the same school district, city, or county. You also need to look for houses that are similar to yours with footage, style, and amenities. Unless the buyers want a fixer-upper, your house will not sell if it needs work. Since there are several homes for sell, buyers have a lot to choose from. They will look for the home that is well-maintained and has a few key characteristics.
In order to get your asking price, you may need to make a few cosmetic changes. You may have to re-do the kitchen or the bathroom. Even adding a fresh coat of paint to the walls can increase the value of the home in the buyer's eyes. Removing extra furniture to make the room open up more, replacing a rug, or adding some new curtains can make the home look nicer and more attractive to buyers.
Since you have been living in your home, decide what things you would want to fix within the next few years. Determine if these things are worth replacing now to add to the value of the home. Have an inspector come to your property to look over some things that could hinder buyers like a faulty furnace, a leaky air conditioner, or old water heater. Some buyers will simply walk away from a great home because of the additional costs they will have after they purchase the home. After you have fixed all the problems with your home, you can have the inspector come again and write up a report about the different things you fixed. This will make your home more attractive to buyers.
Another way to sell your home for the asking price is to offer an incentive to buyers. You can offer to pay the closing costs or pay for the costs of a new roof. When you have more incentives to offer the buyers, it will be easier to get your asking price.
When you want sell your house for the asking price, you need to be prepared to invest some money into it. Some small improvements to your kitchen will add a lot of value to your house. Most buyers will look at the kitchen as the make it or break it selling point of the home. Buyers do not want to purchase a home with an outdated kitchen. You do not need to spend a lot of money on kitchen repairs, as long as it looks up-to-date and clean.
The entire home needs to feel inviting, especially the kitchen. Color is one of the biggest factors to a nice kitchen. Lighter colors will brighten up the kitchen and make it look clean and sanitary. When you use darker colors, it makes the kitchen appear dirty and it doesn't make the buyers feel welcome. If you like the darker colors, only paint one wall a darker color as an accent wall, and then use lighter colors on all the other walls. If you do paint, select a color that compliments the cabinets and appliances. Always replace the light bulbs with brighter ones or consider replacing the lights altogether. When the kitchen is bright, it looks cleaner and gives buyers the impression that it is sterile.
Take a look at the popular kitchen styles of newer homes. If you have outdated wood cabinets, paint them or re-stain them. Wood cabinets do go out of style, so make sure you are keeping your kitchen up-to-date when you are getting ready to sell your home. Another simple way to update your kitchen is to replace all the handles. Replacing your kitchen countertops can also increase the value of your home. If you do not want to pay for the expensive countertops, consider making your own using tile. This is a simple way to make the countertops look brand new and it really accents the kitchen.
Replace the fridge and other appliances. You can easily find nice, up-to-date appliances for a low-cost. Even if you find one with a small dent, you can hide it with other furniture items. A simple towel over the handle on the stove can cover up a dirty stove. Visit several appliance stores to see who is offering the best deals. Some companies will clearance older appliances and they can really update your kitchen. Plus, it is an added bonus to let potential buyers know that the fridge is brand new. The dishwasher and the microwave can stay, especially if they are mounted in.
The way you advertise your home will also help you attract the right buyers that will pay you the asking price. If you are selling the home on your own, place a "For Sale" sign in front of the home and attach flyers that have information about the home. Potential buyers will be able to drive up and grab and flyer and find out key information about the house. A color flyer is a great option because it gives buyers a better look into your home. Consider taking pictures of the family room, kitchen, entry way, backyard, master bedroom, and the nicest bathroom and place them on the flyer. Buyers will be able to see some of the most important features of your home and they will be able to decide if they want to schedule a time to walk through the house.
You also need to make sure your home is listed on local realtor web sites. Potential buyers should be able to input your city or a price range and your home needs to appear in the listing. You may need to hire a realtor to get your home listed on some of the web sites. Always market your home in the local newspaper, especially the weekend edition. Most buyers will browse the newspaper on the weekend because they have more time to search for a new home.
Another place to find potential buyers is with local bulletin boards. Public libraries have these boards where you can place a flyer with your contact information and some information about the house. You should also list the dates of an open house so people know when they can come by for a walk-through.
