The Home Selling Process: Key Things to Know
In 2021, 8.4% of the American population moved to a new home. If you’re planning to be part of the 2022 statistics, the whole home selling process can be pretty daunting. You may wonder where the realtor fits in, what an appraisal is, and how to sell a house for the best price.
There are many milestones on the home selling timeline, but there are a few home selling tips that you should know before you begin. Take care of these and you may just maximize your profit while minimizing your stress.
Read on to find out more!
Get the Time and Price Right
If you don’t have to move to a deadline, try to figure out when the best time to sell is in your area.
You want to sell in a seller’s market. That means the number of homes for sale is low and there are lots of potential buyers. This will help you to command the best price for your home.
The time of year matters – late spring is often best. Even the day of the week your property is listed can have an effect. One report found that properties listed on a Thursday in one year sold five times faster than those listed on Sundays.
What works varies from city to city, so it’s a good idea to get some advice from real estate agents who’ve got their finger on the pulse.
The next key tip is to get the price right. For this, you need a realtor to complete a Comparative Market Analysis. This detailed report looks at a whole range of local conditions to help you price your home competitively.
Make a Decision – Realtor or Go It Alone?
As we’ve seen already, having a real estate agent on your side can make a big difference. They know the local area, have long lists of contacts and potential buyers, and they know what buyers are looking for. It’s hard to put a price on that kind of experience.
They’ll also advise you on preparing your home for the market, will conduct showings, and take care of sales negotiations.
If you feel confident about selling a house and maybe have some prior experience, you can go it alone. You will save thousands on realtor fees, but how much you make on the house is down to how skilled you are at playing the part of the real estate agent.
However, some states do require you to use an attorney. And it’s always a good idea to do so, to keep everything on the up and up.
Smashing the Home Selling Process
The home selling process can be complex and you need to make sure you handle everything legally. Getting help from a realtor and an attorney can reduce your stress and help you get the best price for your home. The home selling process can be complex and you need to make sure you handle everything legally. Getting help from a realtor and an attorney can reduce your stress and help you get the best price for your home.
For more handy hints and tips, check out our Home Improvement section today!