It’s finally happening. You’ve decided to sell your home.
You’re nervous and excited, but you’re not quite sure how to proceed. You know that selling a home takes more than simply planting a “For Sale” sign in your front yard and hoping for the best, but what does “more” mean? Before you start, you need to get informed on the process as a whole.
Read below for five tips for selling your home that could make the difference between a rocky sale or a smooth sale.
1. Don’t do it alone
It might be tempting to dive into the world of real estate headfirst, but unless you understand the ins and outs of the industry, you might just end up drowning in paperwork. For many hopeful sellers, working with a real estate agent means gaining access to much-needed knowledge and security at an often-stressful time. A real estate agent is the best way to sell your home.
But, if you choose not to use a real estate agent, you shouldn’t proceed alone. Calling an attorney, like those on Stock and Leader’s Real Estate team, will provide you with guidance and explanations on many topics, including:
- Necessary contracts between buyers and sellers
- Seller’s obligations versus buyer’s obligations
- Closing costs and expenses
2. Find out the true value of your property
Many homeowners instinctively overvalue their own properties or depend on online estimators to guess at their home’s worth. The best way to determine the value of your home is to work with a real estate agent or an appraiser who can provide the fair market value of your home.
3. Make your home the best it can be
Once you know the value of your property, increase it by fixing what’s broken and sprucing up what’s drab. Curb appeal matters. Making landscaping a priority for your home could increase its value anywhere from 5.5% to 12.7%, and Remodeling’s 2018 Cost vs. Value report indicates that outdoor renovations get higher investment returns than their indoor counterparts do.
Still, some indoor improvement projects pay off, especially kitchen and bathroom remodels. A real estate agent or attorney may advise you further on what renovation projects might be best for your home.
4. Keep all costs and obligations in mind
Now that your property is in tip-top shape, it’s time to think about actually selling. For example, PA law requires that certain things must be disclosed to buyers using a specific form called a Seller’s Disclosure Statement.
You might also be required to complete certain inspections before you can close — Peach Bottom and Shrewsbury townships require septic system inspections; other municipalities do not. Specific house inspections, like those that check for structural damage and termites, may be requested by your buyer.
There’s also the matter of closing costs, which buyers and sellers must pay at closing. Though buyers usually pay most of these costs, Realtor.com estimates that sellers generally pay anywhere from 1% to 3% of the home’s sale price in closing costs. A real estate agent or attorney can estimate your fees and costs prior to negotiating with your buyer.
5. It’s a seller’s market
The low inventory of homes available in the region continue to give the seller the upper hand. In such a seller’s market, sellers have more opportunities for negotiation and favorable contract terms. Still, you want to make sure you’re selling smartly and making the process work for you. An attorney or real estate agent can help guide you through the house-selling process and ensure that you’re well-informed to get the best price for your property.