Tuesday, July 20, 2021 / by Aaron Parkey
Who does not want to sell their home for the maximum price? Of Course, everybody does and so do you. In this post, we will discuss 8 ways that help you to boost your property value and sell it at a price you so desire. So without further ado, let’s get started.
Listing Price Analysis
Some people use listing price research to sell homes, in order to get insights into what other homes are listed for. It is important to tap into the intentions of a first time home buyer and then correlate the finding with your listing price analysis.
Researching the listing price of homes is a quick and easy way to get an idea about how much money you should be asking for your home. You can find this information by looking at the listings of other homes that are of comparable size and style. Use the seller net sheet to calculate the net proceeds and then compare that with the prices you have got from your analysis.
The goal is not to copy what these properties are listed for, but instead to use them as a guideline and see how they compare with your own home.
Costs to sell a home
Every home seller is a little different. Some want to sell their home quickly, while others are more interested in receiving the most money possible. Whatever the selling goals, it's important to consider how much time and money goes into the process before starting the sale.
The costs of selling a house can be broken down into two categories:
- Costs of preparing your home for sale
- Costs of actually selling your home
What time in the year to sell the home?
There is no universal answer to what the best time is to sell your home. It instead depends on factors such as your location, the season, and how much inventory is out there.
The key to a successful sale relies on getting buyers interested in your property. The best time to do that would be when you have an enticing listing and when you are able to attract potential homeowners with what you are offering.
Hire an Agent
Agents are required to ensure that your home is marketed well and maximizes its value. This starts with the property being listed in a system such as Zillow, which is an online database of homes for sale.
The agent will then write an appealing ad accompanied by photos of the property and post it to various websites and social media platforms. Once they have secured a buyer, the agent will also negotiate the terms of the sale on behalf of their client, ensuring that they receive maximum profits.
Increase home value with repairs and renovations
Renovations are necessary to increase your property’s value. Depending on the type of renovation, each one will give a different result.
The most common renovation that increases the property value is interior design: decorating and furnishing the house to make it more appealing to potential buyers and renters. A good way to spruce up your home is by installing new fixtures and finishes, such as flooring, tiling, cabinetry, and countertops. You can also install new appliances or update current ones with higher-end models that will increase the attractiveness of your kitchen.
Decorating a home can be costly. It might be best to find ways to reduce costs for renovations by trying things like repainting walls instead of replacing them or using inexpensive materials for certain projects.
Negotiate Closing Costs
There are many costs associated with home closing such as realtor commissions, transfer taxes, title insurance costs for Arizona, and much more. Sellers should look into these cost components and find out ways to save closing costs by following these tips:
- Negotiate with the buyer for a lower price.
- Offer to pay for some of the closing costs.
- Offer to pay all of the closing costs with a mortgage assumption.
Look for other means to save on closing costs. In some states such as New York, there is something called CEMA loans. A seller should mention that to lure buyers as it saves a lot of closing costs for the buyer as well.
Use Creative Open House Ideas
When it comes to home selling, many people think that it is all about the exterior of the house. However, the interior of the house can also be a significant factor in determining its worth. Here are some ideas to help you get started on transforming your home's interior to help increase its price.
- Paint your walls in neutral tones
- Take down dark existing curtains and replace them with light ones
- Add plants around the room for an attractive decor
- Keep pets out of rooms with clean carpets and furniture
Keep an eye for buyer contingencies
Sellers should be aware of the following contingencies that buyers need to avoid.
When negotiating, there are certain things that sellers should avoid as these may make buyers walk away from the deal. One of them is to withhold information about the seller and also not disclose all the details about the product or service being sold. Another is to be overly aggressive in their negotiation approach, which can backfire.
The buyers may walk away if they feel that they are not being taken seriously enough during negotiations and that they don't have a say in some decisions that have been made. This may happen if there has been an imbalance in communication between seller and buyer as well as a lack of transparency on what's happening behind the scenes.
So there you have it, 8 points that help you sell your property for a higher price. Hope you found the post insightful.