Selling a home is a monumental moment for every homeowner– it marks the start of a new page in the book called life. For minimal stress and a relatively smooth home sale, here are five questions that will help you prepare yourself and your home for its new owner.
1. First things first: should you rent or sell your home?
Believe it or not, but selling your property isn’t the only option you have if you’ve outgrown your current home. You can rent it out and, as a result, create a steady stream of monthly income (given your tenants pays his dues on time). Sometimes, renting your property can be more beneficial to your situation. So, before you sell your home, check your local market and determine whether it’s advisable to sell your home now or wait and rent it for the meantime.
2. Who is going to take care of the technicalities?
It’s not uncommon for sellers to take matters into their own hands. However, it’s not always the best course of action. Hiring a real estate agent for the home-selling process can be good for you in three ways:
- They can help you determine the right price. Price your home too low and you won’t earn a profit. Price your home too high and you will turn away potential buyers. A real estate agent will do the necessary research to help you determine the listing price that is just right.
- They can help you market your home. A real estate agent has, in his or her arsenal, a number of marketing strategies and tools that will help your listing gain attention.
- They know what they’re doing. Certified real estate agents possess the right knowledge and expertise you’ll need for a successful sale. This is why it’s important to screen two or more agents and take into consideration what they can do for you and not just the profit they can deliver.
3. Are you financially capable to sell the home?
Just because you are the seller doesn’t mean you’re not going to shell out some cash. In the off chance your property has some issues, you’ll need to address these before you turn over your home to its new owner. Selling a home also has other related costs, like closing fees.
4. Are you going to sell your home as is?
Some sellers put their homes on the market as is, while some take care to make minor upgrades and updates to increase the value of their home. Figure out which course you want to take before you put the “home for sale” sign on the lawn.
It’s best to address minor issues before you put your house up for sale to avoid any stress once buyers have placed their offers on your property. In case there are other issues that concern your property, it’s important as a responsible seller to obtain necessary paperwork that discloses such problems.
5. Have you found a home to move into?
Waiting for the sale of your home in order to purchase a new one or looking for a home while selling your property can affect the home selling process. Your potential buyers might look for a clause in the contract that will detail what will happen just in case you haven’t found a home.