Recently we have been getting a lot of questions from our clients about selling their homes. Questions like “How do we get our home ready for the real estate market? What do we fix and or not fix..?” “How do we price our home to sell?”
So we have compiled a home seller’s Q&A for you!
What price should I list my home for?
Once you have decided you want to sell your home, the first step would be to have us come out to your property. In this first visit we assess the home from top to bottom, observing all upgrades and improvements that have been done to the property. Examples: New roof, remodeled bathrooms, new carpet or hardwood flooring, family room additions, 2 car garage etc. We take all of these into consideration when pricing your home.
In deciding what price to list the property we also compare your home to other similar homes that have recently sold (less than 6 months ago) to figure out what price your home should be listed for. Once all the research is done, We present you with a CMA (Comparative Market Analysis) report. This will show you exactly what your home should be listed for based on all the comparable houses in your area.
Are you wondering what your home is worth today? Give us a call for a free no obligation comparative market analysis today. 408-921-3601 remaxva@yahoo.com
What if I owe more than my home is worth?
You have a couple options.
#1 If you are looking to stay in your home you might be able to workout a loan modification with your lender. This can make your payment lower and more manageable. Contact your lender to possibly work out a deal.
#2 Talk to your lender about doing a short sale. A short sale is when the property value is now worth less than what you originally paid. Meaning the lender will be short if you sold the property. Example: Say you paid $405,000 for your home two years ago.. the property values have dropped substantially and your home is now worth $270,000. If you sold it and paid the lender back, you would be short by $135,000 hence the name “Short Sale” The lender will sometimes approve you to sell the property with a Realtor. Banks have become more willing to approve of short sales these days, due to current market conditions. Short sales have less effect on your credit than a foreclosure. They are completely different. If you have further questions please call or email us 408-921-3601 remaxva@yahoo.com.
Why can’t we just list the property at a higher price and see what happens?
Pricing your home too high from the beginning can lead to unnecessary stress and added time on the market. The more time your home sits on the market, the more buyers are going to think they can get a better deal on your property. They will likely offer a much lower price. If you had just listed the property at a competitive price to begin with, you would have gotten a lot more interest and the probability of receiving a full price offer is a lot higher. Why would a buyer want to purchase your home when a comparable property around the corner is $10-$20k less?
Why do we need to get home inspections right away? Are they necessary?
We strongly suggest that you get a termite, roof, property inspection & natural hazards reports right when we list your house. (We help order these for you). The reason for this is when buyers are interested in a home, they want to see reports to make sure there are no unknown problems with the home – For instance if the home has an active termite infestation problem, this could cost the buyer thousands of dollars. According to one of the best roofing contractors in Lincoln, NE if the roof needs to be replaced and has leaks.. this will really affect the buyer’s feeling about what price to offer for the home; or even if they still want the home at all since putting a new roof on even a 1500sq.ft. home could cost in the neighborhood of $15,000. This will hold up the process every single time. We have seen this time and time again. YES it is necessary to get your home inspections, before receiving offers. Everything should be disclosed upfront to prevent any problems during the transaction. Trust us!!
What do we need to do to get our home ready for the market?
Your goal with this is to make sure your home is clean, bright and comfortable. Keyword clean. You want buyers to be able to envision themselves living in your home. You don’t need to go crazy fixing up your house, but to get top dollar for your property make sure these key things are completed:
- Clean carpets to remove stains and replace flooring if necessary.
- Clean windows, doors (finger prints), keep kitchen clean; remove all food products, cookware, etc from counter tops.
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- De-clutter the home. Get rid of the nick-knacks. Simplify the space.
- Tip – Pretend you are a potential buyer. Clean up and repair everything that would turn you off if you were looking to buy your home.
- Clean bathrooms; get rid of mildew and mold, toilet bowl rings and remove personal hygiene products. Bathrooms and kitchens are top sellers so get them in the best condition possible.
- If necessary remove pieces of furniture to make a room feel bigger or flow better.
- If you have dark or bright colored paint on your walls, we suggest you paint them a neutral light color. Wild colors don’t appeal to buyers. Neutral sells.
For help hiring a staging company or if you have more questions, email/call us 408.921.3601 remaxva@yahoo.com
My Bff ‘s gorgeous living room really shows my point – no clutter, neutral paint, clean, simple.. not to mention amazing!
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- Handle all minor repairs around the house. Examples: fix faulty electrical wires, replace lose tiles in the bathroom, replace cracked electric plates, replace light switch plates, fix leaky faucet, repair sprinklers, re-calk shower.
Click here to see our handpicked vendors list – for various tradesman – plumbers, house cleaner, electricians, contractors, painters, etc.
- Install Carbon Monoxide detector – mandatory – the law as of July 2011
- Install fire alarms in the home or make sure current ones are in working order.
- Mow the lawn and plant some pretty flowers (flowers optional). It’s always nice to have nice landscape curb appeal, so do what you can!
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The idea is to make your home look welcoming. I came across these 20 Ways to Add Curb Appeal on bhg.com – Really great tips!
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We hope that helps. Any other questions, feel free to email, call or text us anytime. 408.921.3601 RemaxVa@yahoo.com
Xo, Melissa & Virginia
DRE Lic #’s 00888876 & 01893876
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{Via Design Sponge}
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