Keys to Selling Your Home in Today’s Market
Homes are being purchased—how are sellers doing it?
All homes are different, and there isn’t one simple strategy that works well for every home and is often used by the realtor tc mi to help their clients sell their homes fast. However, the real goal is to understand that today’s real estate market is cash driven and very competitive. Home seller’s that understand the market and work with a well-qualified brokerage are the most likely to succeed with the successful sale of their home.
In March of 2012, nearly 1/3rd of all home sales were “cash” (the buyer was not dependent upon financing, the sale of their current residence, etc). Instead, a cash buyer has the ability to close the transaction quickly instead of waiting for financing to be prepared or the sale of the existing residence.
There are 6 basic rules which typically provide success with the sale of a home:
1) Curb Appeal: The majority of home purchasers want a home that looks great from the outside. It is a matter of perception since if the home looks good from the street then the potential buyer surmises that it most likely means the home is ready for a new occupant and does not need a lot of improvement. Potential home purchasers tend to bypass a home that doesn’t appeal to them from the road—not even bothering to look inside. Use the services of power washing companies, who use high-pressure water spray to remove loose paint, mold, grime, dust, mud, chewing gum and dirt from surfaces. Visit their homepage to get the details.
2) No Cluttter: Home owners must allow potential buyers to view a clutter free home. A clutter free home will present the interior space as “larger” and abolishes the need to get rid of “stuff” when in the midst of moving. It is very wise to reduce the clutter prior to the home being placed onto the market. If you are still not sure of where you will be moving to, then consider hiring a storage service. You should be able to store most of your belongings there in the meantime, allowing potential buyers to visualize the home with the open space they will now fill with their things.
If you already know where you will be moving to once you sell the house you can hire commercial movers to take some of your things for you ahead of time. As previously mentioned, this will open up room for a potential buyer to visualize themselves in the space and what they can do with it. Once the deal has been settled the movers can take the rest of your things, and you can drive or fly over to your next home where the movers will deliver your belongings.
3) Working condition: The home’s systems being in great mechanical condition is a positive in today’s market since most distressed property cannot compete when it comes to the basics such as heating, air conditions, appliances, etc. Homes that easily get through a home inspection are typically easier to financing and are generally more appealing to home purchasers which are afraid of future costs. Check any HVAC and electrical issues with accurateelectricplumbingheatingandair.com/heating/.
4) Be ready to go: The last thing you want slowing down this process is you moving out of the property. There are a number of things you can do to prevent this, like start moving out ahead of time, you can hire long distance movers to help you in that regard. With people helping you move your possessions and difficult or heavy to move items, you should be able to expedite this process and be ready to go just fine.
5) Seek Qualified Buyers: Although cash transactions have increased, the majority of sales still require financing to be provided to the buyer for the successful sale of the home. It is very, very frustrating to enter into a purchase and sale agreement with a home purchaser who ultimately is unable to obtain funds to purchase the home. The home seller, in turn, has lost time on market (and potentially money) and has to start from scratch to locate an alternate purchaser. It will be important to ensure that the buyer has a loan approval letter “in hand” prior to accepting an offer to purchase. Lender approval letters are not binding but the document will at least show that the buyer did take the time to meet with a mortgage brokerage to gain knowledge of their financing capability.
6) Distressed properties: Approximately 30% of all home sales involve distressed property (short sales, foreclosed property/bank owned homes). It will be important to evaluate the amount of distressed property and pricing in your vicinity so that your home can be priced appropriately. Distressed property typically sells at a discount yet as mentioned previously, most distressed homes for sale require TLC. Homes in good condition obtain higher purchase prices.