How to prepare your home for sale [Pro Tips]
Selling your home is a big event. It can be great for your pocketbook if you take your time and manage your expectations. Before you decide to list your home for sale, here are a few tips that we think will help you get a great offer.
I know what you're thinking. Doesn't the bank require an appraisal from the buyer before they issue the loan? The answer is yes. The lender does require an appraisal through the buyer before they will give the loan. We still think the seller should have their home appraised by a professional before they list their home.
As the owner, getting an appraisal will give you a realistic idea of the value of your home. Pricing your home too high could discourage potential buyers from even touring your home. This could delay the selling process. You don't want to leave your home on the market for longer than necessary because as long as it's not sold, you're still making payments.
Getting a pre-appraisal will give your buyer confidence that your home is listed at the right price. This could shorten the negotiation process and turn a possible lead into real interest.
Get an inspection
This is another detail that the buyer will be required to have done as well. Mortgage lenders want an inspection to protect their best interests. However, getting your home inspected before posting it for sale could be beneficial to the seller as well. An inspection can show you what areas of your house might bring down the value. For example, if your A/C unit is not working correctly, or there are some new safety features that you haven't updated, the inspection will identify these problems.
Getting the results from an inspection could save you money in the long run. If the inspector finds minor problems, you can fix them before anyone tours the house. Typically, you can fix something by hiring a repair person or even fixing it yourself. Fixing it before you sell the place will cost you money up-front, but save you from having to lower the price at negotiations.
In other words, the house will be inspected by the buyer, regardless. They will find these problems and either reduce their offer or ask for a credit to get it fixed. Having it fixed before a buyer tours your house can save you the time and money after the buyer's inspection.
Find a selling agent
They can offer advice on what areas of the house might bring down the value. Selling agents are familiar with the current market and can tell you what types of houses are selling. This gives you an advantage because you can rearrange and update your home to reflect what recent buyers like. Also, they can help you with any necessary paperwork and negotiate the details of the contract. Having someone in your corner to advocate for your best interest is the best way to ensure you're getting the best deal for your home. If nothing else, it will give you the peace of mind that you sold your house at the best possible price.
Updates and repairs
Once you complete the pre-appraisal, inspection, and talk to an agent, you'll know exactly what you need to do to get your home ready for tours. Maybe the inspection found a problem with the A/C unit, and you need to replace a part. Or, your selling agent said your carpet is outdated. These are common things that could bring down the value of your house.
The good news is you don't have to take that decrease in value if you fix it before selling. It's time to get to work! Some quick and easy updates include painting walls or changing cabinet and drawer handles. If you're feeling ambitious, you can replace that outdated carpet in the guest room. Whatever the case, you'll have time to get your home ready for sale and reach its full potential on the market. Taking these steps before you list the home will save you money and make your home stand out.
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