Selling your house is a major life decision that shouldn’t be taken lightly. Everything should be laid out on the table before heading out to place the property up for listing. For those new to the real estate world, it might seem intimidating at first to make such a decision. SellUsHomes wants to help you out by asking a few questions to help you know if you’re up to selling your house or not.
Is it the right time to sell my house?
Arguably the best time to sell your property would be during a seller’s market. This means that the current market shows a high demand for real estate investment properties than the available supply. There are a few signs that you could look into to successfully predict if it’s a seller’s market or not.
Check out the months of inventory (otherwise known as the absorption rate). This allows you to determine how many months it would take to sell the properties listed in a market at a current selling rate if no more investment properties were listed. In other words, if we consider the average months of inventory which is 6 months, you’re most probably in a seller’s market if the amount of inventory begins to decline in 6 months.
Other traits of a seller’s market are the decreased days of listings on the market and the rise of multiple offers. When it comes to multiple offers, this would likely lead to an increase in the average price of properties for sale.
What strategy am I going to use?
This depends on your motivations on why you’re selling your house. You may be doing this because you need the quick cash or you might want to upgrade and move into a better property. Whatever your reason is, a clear understanding of the pros and cons of the selling strategy you’ll use is a must. It’s also important to get in on the latest marketing trends in real estate. For example, establishing your online presence gives you a vast audience for attention. Your main goal for whatever strategy you use is to reach out to buyers as much as possible and ensure a successful sale.
Will it cost me to sell my house?
A common misconception for sellers is that they think that selling their property would simply make them a profit. There is a lot more to it than that. Be sure to have the finances to cover up the entire process before and after your house is sold. You have to be ready for real estate agent fees, marketing and advertising the property, and even closing fees. Without careful planning, you might end up paying more than what your house is valued for.
How much will my house cost?
There are a few ways to determine the value of a property. One way to do this is to run a comparative market analysis which is a close examination of similar properties or comparables (comps) in your local area that were recently sold. Some might argue that conducting a market analysis doesn’t give you a detailed price on your property since it’s mostly used for listing purposes that’s why they hire a professional appraiser. An appraiser’s job is basically to give a value on the property based on the needs of their clients.
An appraiser evaluates the property based on a few factors. The market is one where they consider the city and neighborhood where the home is located. They also consider the characteristics of the property itself whether it’s in a good condition or in dire need of renovations. Lastly, they check out the comparable sales in the area to see if your property has a good chance compared to the others on listing or not.
How do I prepare my house before listing?
Generally, it’s a bad idea to place your property on the market in the current state that it’s in. Not that we doubt your taste in interior design, but remember that you’re making the house appeal to your potential buyers not for yourself. Stage it in a way that attracts your general audience and make it feel as “homey” as possible. Clear your personal belongings, declutter the interior, and make sure to maintain your curb appeal.
How long will it take before my house gets sold?
Although there isn’t a definite way to know how long it takes before it’s sold, you can make a rough estimate based on a few key points. Like what we’ve already mentioned, it’s said that the average time a house is on the market is 6 months or less. The time frame depends on how prepared you are before placing the property on listing. If you manage to keep your house in tip-top condition, you’re likely to expect a lot of offers for your property. This would drastically decrease the duration of your house placed on the market. Your readiness determines how fast your house is sold – so better start early.
Having an answer to all of these questions can get you started on your first successful sale. Being unprepared before selling your property may cause dire consequences. You might not get your expected profit, the house stays on listing longer than what you expected, or it ends up not being sold at all. To avoid such a thing from happening, contact SellUsHomes to guarantee a sale for your property. Contact us by phone: (734)224-5947 or email us at email@example.com.