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  1. Moving home guides
  2. How to Sell A House
  3. Step By Step Guide To Selling Your Home - HomeOwners Alliance
  4. Are You Ready to Sell Your House?

They will criticize a place that has probably become more than just four walls and a roof to you, and then, to top it all off, they will offer you less money than you think your home is worth.

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  • Know what to expect when you sell your home.

With no experience and a complex, emotional transaction on your hands, it's easy for first-time home sellers to make lots of mistakes, but with a little know-how, you can avoid many of these pitfalls altogether. Read on to find out how you can get the highest possible price for your home within a reasonable timeframe—without losing your mind.


Moving home guides

Once you decide to sell your home, it can be helpful to start thinking of yourself as a businessperson and a home seller, rather than as the home's owner. By looking at the transaction from a purely financial perspective, you'll distance yourself from the emotional aspects of selling the property that you've undoubtedly created many memories in. Also, try to remember how you felt when you were shopping for that home. Most buyers will also be in an emotional state.

If you can remember that you are selling not just a piece of property but also an image, the American Dream and a lifestyle, you'll be more likely to put in the extra effort of staging and perhaps some minor remodeling to get top dollar for your home.

How to Sell A House

These changes in appearance will not only help the sales price but also help you create that emotional distance because the home will look less familiar. A good agent will help you set a fair and competitive selling price for your home that will increase your odds of a quick sale. An agent will also have more experience negotiating home sales than you do, potentially helping you get more money than you could on your own.

Further, if any problems crop up during the process—and they commonly do—an experienced professional will be there to handle them for you. Finally, agents are familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly. Some people do sell their homes themselves. You'll need to do your research on recently sold properties in your area and properties currently on the market to determine an attractive selling price, keeping in mind that most home prices have an agent's commission factored in and you may have to discount your price as a result.

Step By Step Guide To Selling Your Home - HomeOwners Alliance

You'll be responsible for your own marketing, so you'll want to make sure to get your home on the Multiple Listing Service MLS in your geographic area to reach the widest number of buyers. Also, you'll be the one showing the house and negotiating the sale with the buyer's agent, which can be time-consuming, stressful and emotional for some people. If you're forgoing an agent, consider hiring a real estate attorney to help you with the finer points of the transaction and the escrow process. Even with attorney's fees, though, selling a home yourself can save you thousands.

If the buyer has an agent, they'll expect to be compensated. Whether you're working with an agent or going it alone, setting the right asking price is key. Remember the comparable market analysis you or your agent did when you bought your home to determine a fair offering price? Buyers will do this for your home, too, so as a seller, you should be one step ahead of them. Absent a housing bubble , overpriced homes generally don't sell. Don't worry too much about setting a price that's on the low side because, in theory, this will generate multiple offers and bid the price up to the home's true market value.

In fact, underpricing your home can be a strategy to generate extra interest in your listing. And you can always refuse an offer that's too low.

Are You Ready to Sell Your House?

Any smart buyer will negotiate, and if you want to complete the sale, you may have to play ball. Most people want to list their homes at a price that will attract buyers while still leaving some breathing room for negotiations—the opposite of the underpricing strategy described above.

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  • Avoid These Mistakes When Selling Your Home.

This can work too and will allow the buyer to feel like he or she is getting good value while allowing you to get the amount of money you need from the sale. The next thing to do is get your house ready for viewings. It's at this point that you'll need to stop seeing the house as 'your home' and think of it as a property that will soon belong to someone else. You can increase the chances of securing an offer by employing the age-old tactics of sprucing up your home to make it as attractive as possible to prospective buyers.

When viewers start knocking, you can start to see the market from a buyer's point of view. You may also want to look at the market yourself to find the new home you plan to move into. Once you have an offer on your home and you are ready to sell, you'll need a conveyancing solicitor to complete the sale. You can search for a solicitor in your area on the Law Society website. The buyer of your property will also have a solicitor, and once you have agreed on the sale, the solicitors will draw up contracts for the property's transfer of ownership. The contracts will be exchanged between the solicitors and a completion date will be agreed.

This will be the date that the ownership of the property legally passes from you to the buyer.

How To Get Your House Ready To Sell (2019)

At this point the property no longer belongs to you, so there's nothing left to do but set a date for your move. You may want to enlist the help of the British Association of Removers , a body representing of the UK's removal services. Extend: If you have the money and space, you can convert your loft, basement or garage into a room.

You can also add extra rooms to your existing walls, like with a conservatory or a room above the garage. Extending can add value as it increases the space and size of the house. Install central heating: If your home isn't centrally heated you can increase its value by installing this throughout the house. Double-glaze: You can easily boost your properties value either by getting an extra pane of glass added to your windows or having completely new windows installed.

Add a parking space: Adding a parking space to your property can increase your home's value significantly. The value goes up even more if you can add a garage, too. Improve your outside space: Resurfacing your driveway improves the selling potential of your home if you have a smooth, new driveway free of pockmarks. Redecorate: Changing the decor of your house can raise the value, but be careful or your home could inadvertently drop in value. Choose neutral colours for walls and flooring to make the property more attractive to potential buyers.

Re-use existing space: Try to make use of any extra space you have.

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For example if you have a walk-in wardrobe that isn't being filled, converting it to an en-suite bathroom could bump up the value significantly. In a weaker market, the sale price may be around the appraisal figure. A home inspection is also important in avoiding complications during your sale. The seller will get an inspection, but discovering problems during a pre-sale home inspection allows you to have more control over how to handle them. These laws vary from state to state, but they generally require you to disclose, either verbally or in writing, the presence of any hazardous materials in your home or significant flaws in construction.

Remember, patience is key. But a stale sale usually results from a seller overvaluing his or her home. The opposite can also occur: in a rush to sell a home, or to sell in time so as to move into a new house, a home can be undervalued. Finally, if you're able, try to put your home on the market as long as possible before buying a new one.