Selling your home is rarely an easy decision. However, once you have decided it’s time to move, it’s only natural to have a lot on your mind. From our experience, here are a few crucial questions you should ask when considering whether to sell your home.
Can I Afford to Sell?
When you’re selling your home, it requires spending money to earn money. It is common to incur fees such as a commission for the realtor, hiring an attorney and various other expenses known collectively as closing costs. Sellers may also choose to spend money on landscaping, deferred maintenance and other projects that can make their property more appealing to prospective buyers.
The “bottom-line” of your proceeds will also be reduced by the amount of debt you owe on your mortgage, balance on home equity loans, and any applicable liens. Finally, if your sales proceeds aren't going directly into purchasing another home, you may owe capital gains taxes. It is strongly recommended to consult with a tax professional and REALTOR® to best understand what the total amount you can expect to walk away with.
What Do I Need to Tell Buyers?
Another key aspect to consider is what to disclose to prospective buyers interested in your home. It’s essential to show your home in the best light, but at the same time, you should reveal the flaws it has as well. To better understand what kinds of issues should be revealed, consult with your REALTOR or research and follow your local real estate disclosure laws.
From a practical standpoint, it’s important to include any details that you feel could play a role in a person’s overall decision whether or not to buy the house. Although it may feel strange providing buyers with the issues that may exist with your home, not being open and honest about known potential hazards can have far worse consequences. For example, if you knowingly hide or fail to disclose such information, a buyer could end up filing a costly lawsuit against you after the sale has closed.
Should I Hire a Home Inspector?
If you are unsure or concerned about the condition of major components of your home such as the roof, electrical and heating/cooling systems, it might be worthwhile to hire a Home Inspector to conduct what is known as a pre-inspection.
This type of inspection takes place before your home is listed for sale. This strategy is an effective way to receive a professional and honest answer about the condition of your home. When you learn more about your home's particular issues, you can either choose to fix them before listing or perhaps address the cost of repairing the problem when arriving at the original list price.
Which Areas of the Home Get the Most Attention?
Knowing which parts of your home are most attractive to buyers is important when considering possible presale repairs or upgrades. Based on our experience and research, potential buyers tend to focus on areas like the kitchen, primary bedroom & bathroom, and living/family rooms. As a result, those particular rooms should be showcased, possibly with the assistance of an accredited staging professional.
To generate the best possible first impression, it’s advisable to remove unnecessary clutter from the entryway, mudroom or hallway. If you have a habit of clutter in that area, you might want to consider placing attractive containers to contain your belongings or moving them to less impactful areas like closets or rooms with lots of storage.
Why Are You Selling Your Home?
Another question to ask is why you’re selling your home in the first place. It could be to get something bigger, something smaller or simply because you want or need to move to a different place. Whatever your reason, it’s important to personally acknowledge why you’re selling to avoid second-guessing or regretting when the time comes to accept a prospective buyer’s offer.
Our seller services are customized to fit each client’s specific needs, expectations and goals. We provide an above and beyond full-service experience that includes staging, interior & exterior photography, virtual tours, digital marketing, copywriting and in some cases enhanced video content. We are dedicated to using technology to streamline the process from listing to closing while keeping you informed every step of the way.