Interested in selling your property? Before jumping in head first, it is a good idea to sit down and think about what your motivations are and set up a strategic timeline for the selling process. With many questions to answer from Why Sell? When should I sell? How is the market? – to How to select the right agent? What’s your home worth? How to prepare for the sale? Or questions regarding offers and dealing with all of the closings procedures that come along with an accepted offer
Top Seller Tips
1. Hire an experienced real estate agent
A real estate transaction is filled with complexities and nuances that a professional, skilled agent can help you navigate. Ask friends and family to recommend an agent they’ve used and were pleased with, or search for a local agent.
2. Detach yourself from the process
You’ve made memories to last a lifetime in your first home, and saying goodbye is hard. But be careful not to let your emotional attachment get in the way of making good decisions, particularly when it comes to staging and pricing your home. Try to see your home as a potential buyer would. Pretend you’re a potential buyer and walk through your home. Make a list of what you like about each room – and the things you’d change.
3. Don’t overprice
Some sellers might think that in today’s low-inventory market they can overprice their home and get top dollar. In reality, if you price it competitively, you’ll create a flurry of activity and (possibly) get in a situation where multiple offers are rolling in. Overpricing at the start hurts your chances of getting a quick sale, especially if numerous price reductions are needed.
4. Declutter and stage for a quick sale
Buyers who tour your home will have a hard time picturing themselves living in it if they only see paint colours or décor that fits your own unique style. Repaint the walls with neutral, earth-tone colours, and remove excess decorations from walls. Consider renting a storage unit to store large furniture that overpowers your main living areas; rooms should appear as spacious as possible.
5. Make the necessary repairs/upgrades
Ensure that all systems and appliances are functioning properly, as these items will come up in a home inspection that might cost you more money and, possibly the whole sale down the road. The rule of thumb is to make improvements to your home that will help the property show well, but don’t put a ton of money into capital investments such as a basement refinish or high-end flooring. You likely won’t get that money back in the sale.
6. Give your home curb appeal
Your home’s front exterior is the first thing potential buyers will see when they drive by, and it’s likely the first photo that will appear in an online search. Give your front door a fresh coat of paint, add some bright flowers to your entryway, and make sure that any cracks or major cement damage is fixed. Consider renting a pressure washer to get rid of the grime and buildup on the outside of your house, and definitely keep up with the yard work. A little elbow grease goes a long way to making a positive first impression on buyers.
7. Keep an open mind for negotiations
What’s more important to you: Walking away with your asking price (or more)? A quick closing time? Putting out as little up front cash in closing costs as possible? All of these are considerations you’ll need to make as you evaluate offers. Also, keep in mind that you have the ability to negotiate with counter-offers. Sometimes, you can sweeten the deal by offering to pay a buyer’s closing costs (if feasible), or leaving some appliances behind. A few concessions can go a long way in the negotiation process, and your Realtor can work with you to carefully evaluate and respond to each offer.
8. Get ready for closing
Once you’ve accepted an offer and signed a sales agreement, you’ll start prepping for a closing. Also called “escrow” or “settlement,” closing is the final meeting between the buyer, seller, their agents and an attorney. This is when the buyer pays their portion of the costs to the seller and the buyer’s new title and any mortgage liens are properly recorded. The closing agent will calculate what monies are due to the owner and what credits need to be applied to the transaction, such as taxes, title fees and other closing costs.
We understand that you have questions and we are here to provide you with the answers.