Selling your home today is not as easy as it was several years ago. Prior to the financial crisis most people are presently experiencing, it was not unusual to put your home up for sale and have multiple offers from several prospective buyers. In these economic times, people are choosing more and more to stay where they are rather than packing up and finding a new home with a larger mortgage. What many people don’t think about, however, is that this is indeed the perfect time to purchase a new home. There are fewer buyers competing over houses, low interest rates and people that are so desperate to sell that they are accepting lower offers than they would have last year. As a property investor, I purchase and sell homes no matter the economic climate and, even now I am active – buying and selling just takes a bit more work.
Here are 7 ways to sell your house quickly, even in these challenging times:
Price it
When looking to sell my house, I always price other homes in the area, both for sale and not for sale. Finding out how much your neighbors are putting their houses on the market for isn’t difficult. You can get a few appraisals from Real Estate companies and then ask them what they are selling homes at in your area. Real estate agents can be invaluable to you at this stage of the game. You can also visit your county or city auditor’s website for real estate pricing information. It’s a buyer’s market right now which means there are more sellers than buyers; if you overprice your house it will never sell. When you do sell, though, you have the money available to purchase your new home, putting you in a great place with many choices.
Fix it
All those little odd jobs you’ve been putting off? Get them done. Go through your home and inspect every room, creating a list of things that need fixing as you go. Concentrate your efforts into decorating areas that need to be decorated, fix doors and windows, stop leaks, patch holes in drywall, fix handrails, etc. The only thing potential buyers will see when they notice these things are dollar signs, fixing them now will save you time later and may save a sale.
Organize it
Get rid of anything in a room that makes it personal: photos, lava lamps and other kitsch. Removing unnecessary furniture will make rooms appear larger than they are and give potential buyers a sense of space. Don’t forget to clear out and organize cupboards and closets; buyers will be opening doors!
Clean it (inside)
Every room should be scrubbed from top to bottom. When looking at homes, nothing turns me off more than dusty shelves and pet hair on the carpet and many buyers are the same. Use a pleasant smelling cleanser or something like Mule Team Borax which will eliminate any surface odors. Carpets should be steam cleaned, either by you or a professional, and walls should be wiped down. Pour a cup of bleach in the toilet and squeeze lemons into your drains. Plug in air fresheners are great but go for a neutral scent rather than something overpowering. Cleaning your house will give the impression that you’ve taken care of it while you’ve lived there, leaving potential buyers more confident in placing an offer.
Clean it (outside)
If potential buyers pull up to your property and see cracked sidewalks, a lawn overgrown with weeds and clogged gutters, they’ll likely not even get out of their car. Mow the yard, trim edges, get rid of weeds where you can and plant some flowers where it makes sense. Repair any sidewalk or driveway cracks and power wash all of these surfaces. Power wash the house or spruce up your paint job, clean exterior windows and fix and clean any fencing. First impressions are everything!
Stage it
After you get rid of the unnecessary furniture, rearrange the remaining furniture to maximize space. Put flowers in a vase, set out candles, add new shades to lamps, toss a couple of throw pillows on the sofa; all of these things make a house feel like a home. If you’re stumped for ideas on how to stage your home, visit show homes or open houses in your area. Show homes are staged by professionals but there is no reason to not borrow some of their ideas.
Offer an incentive or two
Whether you decide to pay the purchaser’s closing costs, legal fees or even kick in money to help with relocation fees or real estate agent fees, there are multiple incentives that you can offer. You have to remember that there are hundreds of homes for sale. If it comes down to yours and one other, the seller offering the best incentive will very likely get the sale.
Jeremy Hayes is a realtor, marketing consultant, and up-and-coming blogger. His field of choice is Australian market as well as tips and resources for real estate agents.
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