These are my top ten tips for the best way to sell a home for the most money in the shortest time.
- Prepare yourself: you have to get your mind in the game.
- Make sure the home is in good condition, looks and smells clean.
- Have a licensed appraisal performed.
- Get a licensed home inspection report.
- Make necessary repairs or price it accordingly.
- Hire a reputable Real Estate agent who can help with market knowledge, staging, paperwork, and negotiating.
- Recognize the two most common “deal breakers” are appraisal and inspection reports.
- Understand that buyers don’t see your home as you do.
- Be flexible.
- Always keep your options open.
You need to move on so get in that frame of mind by packing things you know you aren’t going to need before you move. When you purchased your home, it was just a house. You made it a home and now you have to turn it back into a house. Putting away family photos and pictures, clearing clutter, and general cleaning will allow buyers to look past your belongings and picture theirs in place instead. Limited amounts of artwork on the walls will help with “staging” but not too much.
This is a no brainer. Buyers are looking for ways to say “no” to your house. Eliminate the no’s and all that’s left is “yes”. You’ve heard it a million times, bake bread, make cookies or brownies an hour before a showing or appraisal. Just make sure the home looks and smells clean.
It is necessary to learn what a licensed appraiser’s evaluation would be. If your buyer is financing, it will be appraised by the lender at the buyer’s cost. Many deals “fall through” from lower than expected appraisals. Your appraisal is your safety in case of a low appraisal and also gives you a firm starting point in determining an asking price.
Your buyer will have a home inspection performed so it is best to know what a buyer’s inspector may find in the process and “head it off at the pass” so to speak. Get your own home inspection from a professionally liscensed home inspector. If there are known problems from your inspector’s report and you can have those issues repaired, then you won’t have to worry about that coming up on another inspection as well as getting best possible dollar for your home.
If you are not able to make any necessary repairs, the asking price will need to reflect the “difference” from it’s repaired value. Since you are going to disclose the problems, this protects your asking price in the event the buyer’s inspector finds the same issues. The buyers have no grounds to ask for a price reduction or the repairs because you already disclosed to them any issues.
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We talked about this above. The two most common deal breakers are inspection and appraisal reports. We now know how to avoid those two pit falls and what to do when they come up.
Buyers don’t see your home the way you do and to them it’s another house they have to evaluate for themselves. Make your home appeal to the most buyers possible by using neutral colors when sprucing up walls and flooring.
You will have to be flexible in your pricing or your terms. Price it too high and you get no showings. Price it too low and it sells quick but you are left wondering if you could have gotten more. Negotiating is how we bargain for something we want with understanding we will also be letting go of something. The catch is determining what is of more value to your competitor than it is to you. In other words, giving your competitor something they value while letting go of something that isn’t as important to you.
Sometimes the best deal is not so much the amount as it is the terms. If you had a choice between a full price offer 60 day closing with a chance the financing might fall through or a cash offer of a little less money and can close in two weeks, what would you do?
This report brought to you by Marty Patrizi
Marty is a Realtor at The Bean Group. Marty has been helping folks buy, sell, build, and renovate property since 1988. His construction experience is his competitive advantage. Marty represents his clients with complete confidentiality and compassion. Marty can be reached at 603-781-4099 or email firstname.lastname@example.org for help acheiving your real estate goals.
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