"Business, that's easily defined - it's other people's money."Peter F. Drucker
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The decision to sell your house wasn't made on the spur of the moment. It may have been spurred by the desire to live in a nicer home, the need to move for a new job or the necessity to get a handle on out-of-control costs. But whatever the reason for the decision, you've got a lot of work ahead of you before you're ready to actually sell your house on the market if you want to get the best possible price for your property. Is this your first time to sell a home? No problem! Read our tips below that will show you how to sell a house.
Step 1: Assess The Value Of Your Property
Pricing your home right is the key factor in selling it in a reasonable amount of time. Setting a price too high will make your home undesirable to buyers. Pricing it too low may, in fact, deter buyers who wonder what's wrong with it - or simply not get you a fair price for your property. Now is the time to do your research.
How much should your house sell for? In other words, what's the 'right' price? It's the price at which homes similar to yours in the same neighborhood have sold recently. You can use the free online home valuation service to find out exactly what your home is worth if you plan to sell your house yourself. Alternatively if you plan to sell your house with an agent, a good Realtor can quickly give you a reasonable approximate price based on recent sales in your neighborhood, coupled with the condition and specifics of your house. A Realtor can also make specific suggestions for things you can do to prepare your home to sell for a good price.
Step 2: Figure Out How Much It Will Cost You To Sell
If you've never sold a house before, you may not be aware of all the associated costs. You'll need to know about these costs in order to help you adjust the asking price on your house, as well as to help you estimate the profit that you'll realize on the house. If you're counting on the sale of your house to finance the purchase of another, this is especially important. These out-of-pocket costs may include:
* Advertising your home, if you're selling it yourself. This could easily run into hundreds of dollars, depending on the methods you choose.
* Realtor commissions - typically 6% of the selling price.
* Closing costs, including attorney and other professional
fees
* Excise taxes on the sale
* Property taxes and any homeowner association fees
Step 3: Take Care Of Any Needed Repairs
If you've been putting off getting the driveway fixed, repairing the roof or any other needed repairs, the time to do it is now, before you put your house on the market. Some repairs, left undone, will prevent your home from selling at all and others will bring your asking price down. Replacing broken roofing tiles, loose gutter shoring and other minor but unsightly problems will make your house that much more saleable.
Step 4: Get Your House Looking Its Best
Selling for the price you want depends on how appealing your house is. Take a good, hard look at your house, inside and out. Trim bushes, mow lawns, plant a flower bed. Something as simple as giving your siding and windows a good scrub down can freshen its look immensely.
Here are some other things that increase the chances of your house selling quickly:
* A fresh coat of paint, or just touching up the trim
* Freshly painted interior walls
* New carpet or flooring in common rooms like the kitchen or bathroom
Step 5: Have A Garage Sale
Get rid of all the accumulated clutter and pocket a little profit at the same time. That collection of kids' bikes in the garage may be a storehouse of memories to you, but to a prospective buyer they're just clutter - and they will make your garage look smaller. Clear away as much clutter as you possibly can. When you're ready to show your house, it should be as close to move-in condition as possible. The more easily a buyer can picture their own family in the house, the more likely they will be to buy.
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