Home buyers often balk at the number of things that go into pulling off a real estate transaction on their end, but the home seller also has a lot to do before they can close a sale. The following is a checklist of the factors that the home seller must consider before putting their property on the market.
Figure Out if You’ll Use an Agent or Not
A lot goes into this decision and home sellers might start off rejecting the idea of using an agent because they think they can save the money that would go to the agent as commission on the sale, but many come to view the agent’s fee as a fair price to pay in exchange for the work that goes into getting a home sold. Some property owners may be well versed in the ins and outs of the market but those who are less familiar may well benefit from the experience of an agent.
Get Your House in Shape for Viewing
One of the major responsibilities of the home seller is to get the property in good form for viewing. This could mean simply de-cluttering, but it may also include doing minor repairs that have the potential to add value without costing too much to get done. Doing a critical walk-through of your house may reveal many small projects that can be tackled as weekend projects, such as loose doorknobs and stained walls.
Decide What Stays and What Goes
This is important information to have before going to the market. Some sellers decide they will include furniture and appliances while others want to take even things that may be built in to the walls, like shelving. This must be fully explored and factored into the asking price as well.
Get Your Documents Together
You should have all your documents on hand so they are easily accessible to pass on to the agent or to present to potential buyers. Some of these documents include utility and tax bills for the past year, the deed, documents showing any major repairs done to the property and even inspections or assessments if available.
Consider Getting an Appraisal Done
An appraisal can help to justify your asking price and may act as a bonus for the buyers because their mortgage lender may want to see one and this means they can save on getting one done.
Work on Your Pricing and Marketing Strategy
Of course, whether you are working with an agent or you are going to sell the house on your own, you need a pricing and marketing strategy. This will help to keep you focused on the methods you outlined and will make it easier to track the performance of your attempts to sell the property. You should take a note of the number of enquiries that followed a viewing or even calls that have come in as a result of ads or your yard sign. This way you can tell which method is working in your favour. Documenting responses can also give you an idea of why the property hasn’t sold as potential buyers may give clues to what is holding them back from making an offer.
Selling a home is a very involved process but this checklist can help even the most inexperienced property sellers to navigate their way to a sale.