When you need to sell your home, it can be a stressful and challenging time. Recent statistics list that in 2014, 4,940,000 existing homes were sold in the United States, so there can be a lot of competition. Therefore, it will be helpful to apply the advice that many real estate agents wish that everyone who has their house on the market knew.
#1 - Consider Pricing Your Home A Bit Below What Houses Similar To It Sell For In Your Neighborhood
When there is a lot of competition for similar homes in the same area, one of the biggest factors that buyers use to decide which home they like the most is often its cost. Even an extra few thousand dollars financed over the average 30 year mortgage can grow into a much larger sum of money.
Therefore, it will be worth it to do some research into the cost of the nearby homes that are similar in size, amenities and appearance. Then, price your home within 5% of those homes and your home may soon become more attractive to prospective buyers.
#2 - Know The Difference Between Being Pre-qualified And Pre-approved
It's easy to get excited when a prospective buyer loves your home, doesn't blink at the asking price and seems to have access to the necessary financing. Unfortunately, that is not always as accurate as it seems. Specifically, being pre-qualified is not the same as being pre-approved, which means they actually have the appropriate funds readily available. A pre-approved applicant has had their information verified by the lender.
Instead, a pre-qualified person simply spoke with a lender and informed the lender of their good credit and their approximate annual income. In turn, the lender gave them an estimate of what their loan could be, assuming that the information provided was completely accurate, but nothing is official at that point. It is a better idea to take a pre-approved applicant more seriously, as they have had all of their information verified by the bank. The information about their loan is much more likely to be accurate, and as such, their offer is less likely to fall through.
#3 - Don't Turn Away (Or Irritate) Buyers And Wonder Why Your House Doesn't Sell
The advice about keeping your home immaculate at all times just in case someone wants to do a walk-through at 8:00 at night on a Tuesday is incredibly difficult to comply with, but it is essential to selling your home. When your kitchen has dirty dishes and your teenager has just dumped a week's worth of dirty laundry on the floor of your laundry room, make a contingency plan.
Even if it's as basic as putting everything in a garbage bag and moving it to your car, getting it out of the way makes the area more appealing and makes the space look bigger. Every time that a buyer sees your home in a lived-in state, you risk losing a potential buyer and must wait additional time before you can enjoy tasteful clutter once again. The average home stays on the market for 10-12 weeks and some homes take much longer. Getting ready to close will take another 4-6 weeks, so it is clear that you will need to do everything you can to prevent delays.
In conclusion, the above tricks have helped many people to sell their homes in recent years. Therefore, when you want to avoid wasting time and being inconvenienced for months while people traipse through your home without making an offer, it is a good idea to make the above changes when selling your home. Contact a company like Coldwell Banker George Realty for more tips on preparing your house for the selling market.