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Tuesday, April 26, 2011

Tips for Selling a Home at the Right Price

"Sold" is the word all home sellers are after, and for the best price possible, and in as short a time as possible after the house hits the market. To have a house hit the ground running takes some consideration of a couple of C's, one L, a couple of R's and one P; namely clutter, cosmetics, landscaping, restoration, repair and price. 

It may seem like a lot but some of these things can be done with a little time and patience and cost effectively. Keep these things reasonable in terms of cost and also remember neighborhood price ceiling is important as a house that is rejuvenated beyond the class of a neighborhood will have a tough time selling at a price that compensates the owner for all the time, energy and money put into the house. So be wise with a house and perhaps most of all show it some love. The following sections of this article outline some of the things potential home buyers look for in a house.

Marketing venue

Another important step in preparing a home for sale is making sure everyone knows about it. Finding a suitable venue to market the property can prove priceless in selling a home. A motivated Real Estate agent or Broker may be the right solution for you if you don't have a lot of practice selling homes or with the lengthy paperwork procedures required. Also, owner-financing options may be appealing to those buyers seeking an alternative to a bank mortgage thereby increasing potential interested buyers.

Reduce clutter

Realtors and Sales agents will repeat the mantra clutter is bad for home sales. This is true because of market perception, a cluttered house reflects a possible unkempt house, and is simply not as visually appealing as a house that looks like it came off a beautiful homes magazine cover page. The less things lying around the house the better as more space is added to the appearance making the house seem bigger and cleaner.

Cosmetics touchups

The small things do matter. For example, those little door stoppers that cost a couple of dollars at the hardware store not only protect the walls from doorknobs but they're easy to install and cost effective. Door stoppers show love and prevent damage; with a little time just about anyone can install these little but important house amenities. The list of cosmetic touch ups are endless, but the principles of low cost, rejuvenation and damage prevention still apply. The more cosmetic touch ups one can do, the better the house will look to potential buyers.

Landscaping

If you have a yard, a little beauty can go a long way especially if the house is up for sale in the late spring, summer or early fall. Selling the house in the season your house looks best can also give the impression of beauty and finesse. Also, when this technique is used mother nature does a lot of the work and for free. Besides mother nature, keeping lawns mowed and trimmed, installing some tasteful plants in a flower bed and removing yard clutter can also improve the saleability of a house.

Price

The price of a house is important for the buyer, the seller and the agents if there are any. Everyone wants a deal and that can be tricky. Choosing a price that is realistic, and fair to everyone will probably earn a homeowner a little less profit but a bird in the hand may be better than two in the bush. Pricing can be complicated and involve tax implications, profit, market timing and other factors. For this reason think carefully about a price and discuss it with an agent and/or family members

Repair

It is sometimes unavoidable, but houses do need repairs just like cars. Things like holes in the wall, broken rafters, damaged siding, doorways, windows, foundation etc. all have their place in the re-saleability of a home. Inspectors will generally find what's wrong with a house and savvy home buyers also know what to look for so trying to hide these things probably isn't a good idea as it could create mistrust and a no sale. Being fair with repairs fixing what is important, and perhaps negotiating other repairs with a homebuyer for a reasonable deduction in home sales price could get you the sale you are looking for.

Restoration

Some homes if not many have flaws in one place or another. Prioritizing things in need of repair can make the task more manageable and cost effective. For example, if the furnace is 17 years old and you live in a climate with cold winters and the driveway isn't paved but looks like a weed festival which is more important to a new homebuyer? Chances are a buyer would appreciate a new furnace more than a concrete driveway. Functionality of a house is important and home buyers don't always want handy man specials. Restoration may also involve less expensive things like paint, wall trim, door knobs, broken pieces of fence, faucets, vents, linoleum etc. Installing and rejuvenating many things in a house can be cost effective and do wonders for a house.

Summary

Homes are great places and a home treated with love shines. Selling a house can be stressful and exciting especially if the homeowners are attached to the house and are moving to a new house. Homes take time to rejuvenate, but time on the market can be bad for a house for sale. Using various techniques and methods provided above can improve the saleability of a house and that is good to know. There may be some things about a house that only a homeowner knows about like a giant snake living in the basement or ghost like apparitions that appear at 2:00 Am every Wednesday.

If these anomalies plague a home and that is the reason for selling it might be better not to mention them in the disclosure form or to the buyer but doing something about them before the house goes on the market might be a good idea too. If the seller puts him/herself into the buyers shoes and thinks what they might want when buying a house it can help in the choice of preparations involved. 

To illustrate the previous point, if the home is a family home, preparations that a family would appreciate would probably be more beneficial than preparations that suit a single musician who needs a lot of space for musical instruments and acoustics. The list of considerations to think about when preparing to sell a house can be extensive but with a little practice and some good direction it can be manageable and doable.

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