*Six Things to Keep In Mind When Selling Your Home*
*1. ** Overcome any possible objections a buyer would have. *Sellers
don�t often understand that their primary job is to not only eliminate any
potential objections that would stand in the way for a buyer to make an
offer, but to exceed their expectations as well. If your home is
competitively priced, and your home�s condition exceeds a buyer�s
expectations, you�ll get an offer � even if it isn�t the offer you want.**
* *
2. * Get your home into selling shape. *Cleaning your home is a must.
After that, you should consider hiring a stager to give your home the
television-worthy polish so many buyers expect today. Assess what other sort
of work needs to be done, such as fixing things that don�t work, touching up
paint, or cleaning or replacing your carpets. Decide if you need to update
your landscaping, and paint, clean or tuck point your home�s exterior.
Understand
what it will take to sell your home. If you live in an area littered with
foreclosures, you may have to meet that price point in order to sell. Is it
worth it? Probably not, but you�ll have to really evaluate price and timing
in order to get the most for your property.
*3. ** Be realistic about the market. *Find out what is selling, and
what the average number of days on the market it for homes that are selling.
Accept the reality of your local market and make sure you price your home
realistically. Don�t blame your broker if you don�t get 3 offers over your
list price within 24 hours of putting your home on the market. Sellers who
set sky-high prices could wait months for an offer and may wind up with the
same price they would have had if they�d priced their home correctly the
first time � or a lot less. In this real estate market, one of the worst
things you can do is over price your home from the onset. If you price it
below where it should sell, you may start a bidding war and will sell your
home faster and for more money.**
* *
4. * Know where you�re going. *We don�t recommend putting in an offer
on another house until you have some serious interest in your current
property. It�s fine to start researching other neighborhoods, but if you�re
not sure what you want to do, consider renting on a short-term or
month-to-month lease. These days, landlords are hurting and they may be
perfectly happy to accept a 6-month lease.
5. * Read all documents thoroughly before signing them. *Why would
someone sign a legal document he or she hasn�t read? Home sellers do it
every day. If you�re going to sell (or buy) in the coming year, promise
yourself that you�ll take the time to read and understand the listing
contract, offer to purchase, and loan documents for your next purchase. (If
you�re taking back a loan for the home buyer, have an attorney prepare the
documents so you are sure to be protected.) Unless you�ve got cash to spare,
a mistake in these documents and the warranties they contain, could
seriously affect your finances.
6. * Do Not be driven by greed. *One big mistake many sellers make is
to get a little greedy, particularly if the first offer is above the minimum
acceptable price you�ve set. Then, the negotiation becomes a game of how
much you can get. Remember, a successful sale means everyone walks away
feeling happy. If you get so greedy that the buyer walks away, you�ve let
the deal get the best of you. Resolve to be reasonable and you�ll end up
shaking hands with the buyer at the closing. You should also know that there
are fewer buyers out there and if you lose a buyer it might take you quite
some time to find another one.
*1. ** Overcome any possible objections a buyer would have. *Sellers
don�t often understand that their primary job is to not only eliminate any
potential objections that would stand in the way for a buyer to make an
offer, but to exceed their expectations as well. If your home is
competitively priced, and your home�s condition exceeds a buyer�s
expectations, you�ll get an offer � even if it isn�t the offer you want.**
* *
2. * Get your home into selling shape. *Cleaning your home is a must.
After that, you should consider hiring a stager to give your home the
television-worthy polish so many buyers expect today. Assess what other sort
of work needs to be done, such as fixing things that don�t work, touching up
paint, or cleaning or replacing your carpets. Decide if you need to update
your landscaping, and paint, clean or tuck point your home�s exterior.
Understand
what it will take to sell your home. If you live in an area littered with
foreclosures, you may have to meet that price point in order to sell. Is it
worth it? Probably not, but you�ll have to really evaluate price and timing
in order to get the most for your property.
*3. ** Be realistic about the market. *Find out what is selling, and
what the average number of days on the market it for homes that are selling.
Accept the reality of your local market and make sure you price your home
realistically. Don�t blame your broker if you don�t get 3 offers over your
list price within 24 hours of putting your home on the market. Sellers who
set sky-high prices could wait months for an offer and may wind up with the
same price they would have had if they�d priced their home correctly the
first time � or a lot less. In this real estate market, one of the worst
things you can do is over price your home from the onset. If you price it
below where it should sell, you may start a bidding war and will sell your
home faster and for more money.**
* *
4. * Know where you�re going. *We don�t recommend putting in an offer
on another house until you have some serious interest in your current
property. It�s fine to start researching other neighborhoods, but if you�re
not sure what you want to do, consider renting on a short-term or
month-to-month lease. These days, landlords are hurting and they may be
perfectly happy to accept a 6-month lease.
5. * Read all documents thoroughly before signing them. *Why would
someone sign a legal document he or she hasn�t read? Home sellers do it
every day. If you�re going to sell (or buy) in the coming year, promise
yourself that you�ll take the time to read and understand the listing
contract, offer to purchase, and loan documents for your next purchase. (If
you�re taking back a loan for the home buyer, have an attorney prepare the
documents so you are sure to be protected.) Unless you�ve got cash to spare,
a mistake in these documents and the warranties they contain, could
seriously affect your finances.
6. * Do Not be driven by greed. *One big mistake many sellers make is
to get a little greedy, particularly if the first offer is above the minimum
acceptable price you�ve set. Then, the negotiation becomes a game of how
much you can get. Remember, a successful sale means everyone walks away
feeling happy. If you get so greedy that the buyer walks away, you�ve let
the deal get the best of you. Resolve to be reasonable and you�ll end up
shaking hands with the buyer at the closing. You should also know that there
are fewer buyers out there and if you lose a buyer it might take you quite
some time to find another one.
