Questions and Answers about Selling a Home- By: Jeff Blackwell
From using a realtor to the home inspection to staging, the answers to many of the problems of home selling are not as complex as one might imagine.
The first question you probably have pertaining to home selling is if selling your home is the correct move. You may only use the residence as an occasional or vacation home. You may have heard about economists worrying over the housing bubble and over-priced housing and perhaps are thinking that it would be a good time to sell your home. Before you start calling realtors, however, you should seriously think about your specific situation.
If you live in your home full-time, cashing in just for the sake of cashing in might not be a great idea. Where, for example, are you going to live when you sell your home? Apartments, condos, smaller homes, virtually every kind of housing is expensive right now, especially in a market like we have in the Phoenix, Arizona area. Once you do some research, research examining the various living accommodations in Arizona, you may find that your mortgage is actually less than the rent on a smaller apartment or condo would be. If that is the case, then you should probably relax and stay put unless there are other very compelling reasons for the move. If, on the other hand, you are selling a vacation home or other residence that you donít use much, now might be the perfect time to sell. You will probably get a decent amount of money even for a humble residence or RV.
Once you have made the decision to sell, it is time to start preparing to sell your home. The process of home selling involves getting a home inspection, doing research on other homes in the area and finding the correct price for your home. One of the first things you need to do is have someone from the city come out to assess your property. They will determine the actual value of your home for tax purposes. Your realtor can also help you find information on how much other similar homes in your area have been selling for, how long they have stayed on the market, etc.
All this information can help you and your realtor set the price of your home. You may have heard that it is common practice to set the price of your home too high and hope someone takes the bait. While this is common practice, it might not be a great idea. For example, artificially raising the price of your home by a drastic amount could affect how much people in your neighborhood pay in property taxes. If you sell your home high above what the assessor placed the value at, the value of all the property in the neighborhood will go up and that will also cause property taxes in the area to go up. However, pricing your home a few thousand dollars above the value that you, your realtor and the assessor determine with the hopes that someone will offer the price you actually want is common practice and will not affect things like taxes.
Home selling, in addition to figuring out the price of your home, also involves a fair amount of marketing. No matter what you are selling, be it a residential home, a mobile home, or an RV, you have to create a marketing plan. If you have a realtor who will be showing the home, most of the marketing will fall on his or her shoulders. However, it is still important to make sure your property is as nice as possible.
If there is anything broken, get it fixed. If the carpet needs to be replaced, tell potential buyers that you are going to pay a certain amount of money for them to have the carpet replaced. For things that are a matter of taste, like paint and carpet, offer to pay a certain amount towards the cost for the new owner so that they can pick the colors that they like. However, anything structural, like the roof, air-conditioner, or anything like that should be taken care of before the house goes on the market.
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Jeff Blackwell is the Designated Broker of Easy Living Solutions Realty a full-service real estate brokerage specializing in mobile homes for sale and manufactured homes for sale in Arizona.