The Home Lending Source

Great Tips For Selling Your Home Fast

If you find yourself in a buyer's market, don't let that worry you. Take a look at our tips and you may just avoid some common home selling mistakes.

Other than spring, the best time to put your home up for sale is when interest rates are low. Lower rates benefit the buyers and sellers, and fortunately for you, you will be both.

Consider selling your home yourself. If you are able to sell your home on your own you could save up to 7% of the selling price. You will need the time and marketing skills it takes to market your home properly. There are a lot of organizations across the country that can offer assistance for homeowners looking to sell their homes themselves. You can find help from radio advertising, TV advertising, magazines, private computerized listings, sale signs, house flyers, and how-to videotapes.

If you do decide to sell your home on your own, keep in mind that you may sell your home quicker if you use a real estate agent, especially if you find yourself in a buyer's market. When there are more sellers then buyers, a real estate agent has the advantage because of things like the multiple listing service. This means that a buyer who is using an agent is a lot less likely to see your home.

If you are unable to sell your home on your own or just don't want the hassle and decide to use an agent, make sure that you hire a "sellers agent" and that they are familiar with your neighborhood.

When interviewing an agent make sure to ask a lot of questions. Ask them how many homes they sold in the past year and if any of them were in your neighborhood. Ask them how long their average time is to sell a home. A very important thing to ask for is to see a comprehensive market analysis and have them explain in detail how they plan on marketing your home to get it sold.

When you have decided on an agent that you want to list your home with you will sign a listing agreement. The typical agreement will last for six months but you can ask for a shorter length like 3 months. Remember that just because your home hasn't sold, doesn't mean that your agent is doing a bad job. Sometimes the market is low and makes the selling process take longer. If you are happy with your agent and they have done all the things you ask and the communication is strong you should probably stick with them.

Does your house need painted? Use neutral colors. Do you have clutter lying around? Get rid of it. This is the time to get your house in shape. You can even consider doing some home improvements if your home is outdated. Your goal is to make your home as appealing as possible to all potential buyers.

If you find yourself having a hard time selling your home, offer an incentive to buyers. You can offer things like paying for a home inspection, closing costs, or points.

Be realistic about your asking price. If you go into this process thinking that your home will sell for full price in only 1 week, you will most likely be disappointed. Listen to the advice given by agent and never assume you have a sale until you see it in writing.

Be prepared to negotiate. The majority of home sales involve some kind of negotiating. This can be anything from sales price to closing costs. Give yourself a little room in the listing price so when you do get an offer you can negotiate and the buyer can feel happy they are getting a better deal than what you were asking for.

Testimonial

They made the process very easy to understand for a first time homebuyer. All my questions and concerns were answered and explained in detail.

- Rocky A (Cleveland, OH)