Selling your home for the first time can come with much anxiety. You may be lost. You may have no idea where to start. Thankfully, you're in the right place. This helpful guide will walk you through some of the steps you'll encounter. Remember, no two transactions are the same. Thus, your path may take a different path. However, most transactions follow a predicable pattern and this guide will help you navigate that path.
1. Plan
This cannot be understated! You'll have to develop a well thought out plan before you proceed with anything. The selling process may seem like a tornado if you don't have a good plan in place. This is the crux of the whole selling process. Everything will flow out of your planning. Here are a few things to consider.
- Hiring an agent or going it alone
- Deciding when to list
- Coming up with a good list price
- What will stay with the home and what will go with you
- Will you have a professional stager decorate your home
- Formulating your next move
2. It's all about timing
Knowing when the right time to sell- financially and emotionally - can make all the difference. It can impact both the selling experience and the list price. Enrique can help you come up with a perfect strategy for you. Remember, he has a master's in finance which sets him apart from all other real estate agents.
3. Set a listing price that is realistic
When does a home reach the most amount of potential buyers? A home is exposed to the most amount of buyers when it is first listed. Thus, pricing it right is crucial. Many websites notify buyers about new homes hitting the market. If your home is overpriced, you can guarantee that many buyers will be looking elsewhere.
By the same token, underpricing it can also have a negative effect. Buyers will suspect something is wrong with your home. There are a few pricing strategies that can be discussed. However, pricing it just right for your situation is key. I call it the Goldilocks problem. You want to draw in the most amount of buyers for the highest price you can get. This takes skill and Enrique can help you.
4. Look through the eyes of buyers
What made you buy the home your currently live in? Was it the great kitchen or the master bedroom? Before you were the owner you looked at your potential homes with a different pair of eyes. You can't get emotionally attached to your home. I know it's very hard to do and it's easier said than done. But buyers will not look at your home the same way that you currently do. They won't be emotionally attached to that great patio you built. They have their own set of criteria that may not align with yours.
Save yourself a lot of grief and begin to look at your home objectively. Take a look at similar properties and what they are selling for. This will help you narrow down on a great listing price.
5. Get ready for visitors
Making the transition from home owner to home seller will help you determine what you'd like to keep and what can go along with the house. Some things can be perfect for staging and a professional can certainly help with that. Your agent can also advice you on what things make a home more attractive to home buyers. De-cluttering and getting rid of many personal items in your home should attract more buyers. You want buyers to envision themselves owning the home. You don't want to plant unnecessary thoughts into a buyers head. Let them make up their own mind about how to best use the space.
6. Think about the next move
If you're planning on buying another home, you'll want to think about what you'll need. Will you be applying for another mortgage? Will you have enough money from the sale of your current home to pay a property outright? How can you time things so that you won't be without a place to live. There are many things to consider in this step. However, going over all the issues you have will be crucial to moving forward.
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