Are you thinking of selling your property? Here are our top 5 tips to keep in mind that can help you navigate your selling journey.
Tip #1 Price it right
When it’s time to sell, it’s important to start looking at your property as a product. Removing emotions from the equation is important. And like any product, your property is only worth what a buyer is actually willing to pay for it. A very common mistake when selling a property is pricing it too high. Pricing a property too low isn’t ideal either. That’s why it’s so important to start with a strategy that involves an in-depth analysis of all the different factors that can influence your property’s value. This is so important because market conditions are ever-changing and what’s true today could very well be different tomorrow. An analysis of comparable properties in your area, provided to you by licensed professionals (agents or appraisers) will help you determine the right approach. At PropertyGuys.com, we believe in an approach that helps you get the most from your sale. To get an idea of what your property is worth, you can visit our website and use our FREE Instant Home Estimate Tool.
Tip #2 Repair major issues
Ignoring major repairs or property defects is usually not a good approach. A buyer’s home inspector will likely identify problems or deficiencies with your property that can affect your final sale price. Any issues discovered at this stage can certainly affect your prospects for selling for top dollar – so it’s important to address required repairs well in advance of marketing your property for sale. That way, you’ll run less risk of losing potential buyers who often seek “move-in” ready properties. For these different reasons, some sellers choose to hire a home inspector for what is commonly referred to as a pre-sale inspection. If you’re not sure of the best approach for your particular situation, don’t be afraid to connect with PropertyGuys.com who may be in a position to put you in touch with the right professionals.
Tip #3 Renovations, upgrades, and staging
Renovations and upgrades that you have invested in throughout the years could pay off when it comes time to sell your property. Most buyers appreciate renovations or upgrades to floors, windows, or kitchens. New appliances, fresh paint, and new fixtures are a sure way to impress buyers also. This approach could create a win-win situation, as you’ll likely enjoy these upgrades yourself while living in the property as much as the new buyer will. PropertyGuys.com can help you access all the help you may need which could include professional staging which helps some prospective buyers to visualize your property as their future home.
Tip #4 Don’t underestimate your expenses
Homeowners often put an emphasis on how much they can sell while overlooking some of the major expenses related to selling a property.
Here is some common selling costs to remember:
- Closing Costs: These costs may include but are not limited to, registration fees transfer fees, legal fees, and disbursements related to registering and conveyancing your closing. Often the most expensive items are real estate commissions and the applicable sales tax on real estate commissions which are explained in more depth below.
- Real Estate Commissions: Commissions, although negotiable, are a cost that could easily represent an important sum of money. When sellers choose to sell through a real estate agent – they often need to inflate their asking price to cover the high cost of commission. This cost, added to the asking price, can be expensive enough to turn off price-sensitive buyers. To avoid this, some sellers choose an alternative approach such as selling their property privately. Sellers who choose companies like PropertyGuys.com to help them through their private sales, enjoy many of the same benefits provided by a traditional agent but for only a fraction of the cost. Sellers who choose PropertyGuys.com enjoy the freedom and control to choose as much or as little help as they need – so they never pay for services that they don’t need. Best of all, the affordable flat fee they charge is never based on the final sale price of the property.
Tip #5 Reviewing offers and closing the deal
While the highest offer might be attractive, it might not be the best one for you. Purchase Agreements can include many terms, some more advantageous to you than others. PropertyGuys.com makes it easy to review and respond to offers using our proprietary OfferMaker™ tool. By using the OfferMaker™, buyers are able to get the process started by sending you an offer that you can access, view, and respond to via your own seller dashboard. Offer details which can include conditions such as closing date, financing, and inspections can all be easily captured. And no need to worry about any of the legal details since you’ll have access to an experienced real estate lawyer who will provide you with expert guidance and advice along the way to close your deal.
About PropertyGuys.com: PropertyGuys.com Inc. is a private sale franchise network and marketplace. Each PropertyGuys.com franchise is independently owned and operated (collectively “Us” or “We”). We represent neither the buyer nor the seller and we are not licensed to trade in real estate. We neither warranty nor make any representations as to the outcome of a property sale and we do not warrant or guarantee the services provided by third parties. © 2022/2023 PropertyGuys.com Inc., All Rights Reserved. Legal Disclaimer: The subject matter developed within this article is only intended to provide general information and is for general informational purposes only. The contents do not constitute advice, are not intended to be a substitute for professional advice, and should not be relied upon as such. You should always seek legal advice or other professional advice in relation to any legal or financial decisions that you intend on making.