If you have sold property before, you may be aware that there is more to it than sticking a for sale sign in your yard. According to the a survey by the National Association of Realtors, 90% of buyers begin their search on the internet. Today’s buyers are much more savy about the real estate market than they may have been in the past. If you are planning to sell a house in 2013, you need to know every possible about your home now.
If you have a single family home, find all the paperwork and receipts of work you’ve had done. If you up-dated the heating system, re-pointed the brick work, or had any other repairs or renovation work done, it is important, and buyers will want to know when and what you have had upgraded/repaired. If you are selling your condo, have the condo handbook accessible and start doing your research about the building. To avoid any pricing surprises, find out if there are any planned assessments, how many units are owner occupied, and if there is any commercial interest. If there is a high commercial interest and low owner occupancy (or other factors that might limit a buyer’s ability to secure financing), it will limit your pool of buyers. If the condo is deemed unwarrantable, only buyers who can put down 20-30% down will be able to get a mortgage from a portfolio lender. Any planned assessments you plan to pass on to the potential buyer will certainly be a turn off. If your property has any issues, it will be in your benefit to know beforehand so you can adjust your pricing expectations accordingly.
2) Start staging your home to sell now.
Start getting rid of everything you do not need or want. Two of the most common reasons properties don’t sell in a strong real estate market like this past year are price and a lack of staging. Don’t make the second mistake (or the first by pricing a home higher than the market value). Start seeing your home how you would want to see a home you are planning to buy. Get rid of all clutter and extra furniture. With so many out there who could use a helping hand, now is the perfect time to donate everything that will keep you from selling your property.
This is a crucial part of the process whether you are buying property or selling property. Talk to a few Realtors. Learn how they would market your home and see if they understand your goals and needs. Some real estate agents are motivated to sell fast and others are motivated to get you the best possible price. Discuss what your plan is, why you are selling, and find someone you are comfortable with and trust to sell your property.
Selling property can be emotional, so it is very important to start the process of separating yourself from your soon-to-be former home. If 2013 spring real estate market is anything like we saw in 2012, you can sell property in as quickly as a day. You should start planning out exactly what your next move is now, so if your property does sell quickly, you know your next step and are excited for it.