Spring and summer are peak seasons to sell your home. In my area in Kentucky, it is a seller’s market meaning there are more buyers than available homes. In order to sell your home for the best possible price and as quickly as possible, I’ve sought expert advice from a seasoned top realtor in my market. Here are four main things you can do to get a jump on a seamless sale:
- Start with the end in mind. Know where you’ll go after your home has sold. The biggest don’t that creates delays is not knowing where you will go. Mortgage lending is much more conservative than in previous years. It is difficult to get a mortgage loan for a new home while having an existing mortgage. You literally have to qualify to continue to have both mortgages. So have a plan, whether it is to stay with family, friends or getting a short term rental lease. If you know you’ll be buying, get pre-approved for your new loan in advance.
- Get your home “stage ready”. Deep clean and declutter. Go through each room with boxes; box up personalized items such as pictures, trophies, etc. You may not have time to actually sort through the keep or toss items on a time crunch. If that is the case, box it up and sort it later. You want the rooms to be sleek, clutter free, open, and inviting. Your goal is to make the home a place where the buyer can envision themselves living. You may need to store items with family or rent a storage unit to hold boxes or furniture until your home sells, make sure to include that in your budget!
- Prioritize your time and money. Health and safety repairs that would pose an issue with a home inspection take priority first before a fresh coat of paint. Bankrate.com has some good information such as considering a pre-sale inspection. It is very likely that if you do not, you’ll find yourself having to renegotiate with a buyer later. It causes delays for you to have to make the repairs in the middle of the actual sale, which could lose you the buyer as a result. Priorities should be fixing any leaks, plumbing or electrical issues. Basically, focus on the “guts” of the home.
- Get an expert on your side. Although it is optional, having a realtor working with you will also save you time, money and unnecessary frustration. They are educated about your market, can set up realistic listing prices and time the market expectations. Some sellers avoid realtors to maximize their profits but with today’s conservative lending, your buyer is most likely going to have a realtor so why not have an expert on your side as well. Realtors know how to stage a home so the advice they provide could mean the difference between getting an offer within hours or months. They are experienced negotiators regarding repairs and costs. Your overall selling experience is more seamless having a realtor representing you.
To help you get started, Apprisen has wonderful resources in regard to Home Financing you can use in your process of knowing where to go after selling your home:
- Should I rent or buy?
- How much home can I afford?
If you haven’t signed up for the Money Minute yet, later this month I will begin a Home Buying series that will walk you through the process of buying your next home.