| When selling your home, there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer.
Advice
for Sellers
Know your property. If you aren't already, become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc. Look at the terms of your existing loan.
Research the current market & property laws in your area. How much are properties similar to yours selling for? What are the terms of the sales? What property disclosure laws do you need to take into consideration?
Set the price. Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price.
Determine financing alternatives. Contact lenders in your area to determine what the options are for your prospective buyer. You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.
Perform a "walk-through" of your property. Look at it from the perspective of both the prospective buyer and the inspector. Take notes on all items that need to be repaired or replaced. Things to consider include:
Outside:
* From the street, is the house appealing? This is called "curb appeal".
* Does it need a new coat of paint (either because the old is obviously "old", or because of an uncommon choice in color that might turn off prospective buyers)?
* If a house, is the lawn & landscaping attractive and well-kept?
* If it's a condo, you can't do much about the building, but is the front door (and balcony, if there is one) appealing?
* Are the windows and doors attractive and in good repair?
* Is the roof (and the gutters) in good repair?
Inside:
* Are the interior paints & finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.
* Are the appliances in good working order & of recent vintage?
* Are the plumbing and electrical systems in good repair?
* Are the carpets or other floor coverings clean & in good repair. Like the paint, attractive & well-kept floor coverings are worth paying for so that your home makes a good impression.
* Are the sealants (sink, shower, tub, windows) in good condition?
* Are all light fixtures working properly, and is there good lighting in each room so that prospective buyers won't think you're hiding something in the dark?
**Make all repairs noted in your inspection.
Know your neighborhood. Most prospective buyers will want to know about the local schools, shopping, parks, transportation, etc. Be prepared so you can knowledgeably answer their questions.
Establish a marketing budget. How much are you willing to spend to sell your house?
Investigate the real estate sections of local newspapers and other publications. Which will get you the most "bang for your buck?" Are there "throwaway" (i.e., free) real estate publications in your area that accept ads from individual sellers? In the local paper(s), is it better (in your area) to run a text-only classified, or do they have "photo boxes" where you can run both text and a photo of your property? Don't forget the Internet. See if you can get your home listed on a website that features local properties. Some newspapers automatically (or for an extra fee) offer Internet advertising tied in to their traditional print ads. Learn the rates and deadlines for each publication, then decide which one (or more) is best for you and your market.
Find and make arrangements for the home you will be moving to.
Unless you have already built or bought a new residence, you'll need to be the "buyer" for a new property while simultaneously being the "seller" for your current one. If possible, schedule both transactions to close at the same time, or else close your purchase shortly before closing your sale. You need to be moved out before the new owners take possession.
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