There is much more to selling a home than putting a For Sale sign on your lawn. Making a seller’s checklist is a good start to help you stay organized.
Check the Numbers
Once you know the payoff of your mortgage, you can estimate the amount you’ll need to make a profit. Make a list of all potential costs and add up the numbers. Allow fees for a title search and other legal documents. A percentage of the sale goes to the agent. If there are major repairs to make prior to closing, figure in the cost. Allow a contingency fund for unexpected expenses.
Consider a Home Inspection
Once an offer is accepted, the buyer typically requests and pays for a home inspection. If you pay for an inspection prior to the sale, it serves many purposes. In addition to assuring the buyers your home is a solid investment, it allows you the opportunity to make necessary repairs. If a potential buyer is considering two properties, having an official home inspection in hand could influence the decision. It can save time for both parties.
Set the Right Price
Your real estate agent will get an appraisal on your property and find comparable listings in your neighborhood. After looking at details of those listings such as the number of days on the market, any price reductions, and different features of the homes, your agent will advise an appropriate price range.
Finding the right price is important. If you set the price too high, some buyers won’t consider viewing your home. If you set it lower than the appraised value, you take the chance of getting low offers. But, you may also get multiple bids to drive the price up. In any case, you can reject any offers or make a counter offer.
Take Advantage of Marketing
Although your agent handles official advertising, you can help promote the property. Social networking or free Internet listing services can help you advertise. Posting flyers where you do business or listing on community bulletin boards can get a buyer’s attention. Word of mouth is also a good way to relay information.
Agree on Showings
Besides organizing for open houses, let your agent know times when it’s not okay to show your home. If you are hosting a party or gone on vacation, your agent needs to know. It’s a good idea to check in every week to share arrangements for viewings and other important information.
A professional agent can handle many details. But, as the homeowner you need to keep track of the necessary steps required to sell your home.
Anne Bourne and her team from StagingWorks are professional home stagers for those looking to get the most value from their property when selling in the greater Toronto area. Anne has been featured as an expert home stager in the newspapers the National Post and the Globe and Mail, and on the television shows CityTV News and On The Money. Visit her blog at http://www.stagingworks.ca.