Wednesday, February 12, 2014
Selling your home can be difficult in the current real estate market, more especially because you’re competing with brand new developments and cutting-edge communities.
Consider these dos and don’ts for an easier sale without compromising your needs.
Secure a new home before selling
Putting your home on the market may elicit quick responses from interested buyers. Avoid advertising your property before you’re sure you have a place to move into when it gets sold, as this may get you in quite a tight spot.
Consider closing costs
A property seller typically shoulders some of the closing costs in a property sale.
According to common practice, the capital gains tax and unpaid real property taxes are taken care of by the seller, unless agreed otherwise. If you’ve hired a real estate agent to sell the property for you, you’ll also have to pay commission fees as well. Consider these expenses while you’re deciding on the selling price and planning your finances.
Repairs on your property
Easily detected property damages can be off-putting factors for potential buyers. If these damages are easy and inexpensive to fix, it’s better to get them repaired before you show the property to prospective buyers. This can give you better leverage on your selling price and make your property more attractive for buyers as well.
Set a fair selling price
Check out property prices of similar homes in your surrounding neighborhood. Your selling price should not be too high or low compared to these.
Establish a fair market value for your home and consider the property condition as well. Setting your price too high will discourage buyers, whereas setting it too low may be short-selling your property.