Selling Property Tips

Selling Property Tips

"The better you understand the home selling process, the better position you will be on controlling your biggest asset - selling your home."

(1) What drives you to sell your home?
The reason behind your decision to sell affects the process of selling your home. There is a different approach to each different goal.

(2) Keep to yourself the reason for selling.
Letting your buyer know the reasons will lead you to a disadvantageous position. If necessary, just let your buyer know the reason for selling is because the house needs have changed.

(3) Do some research before setting price.
Setting the price too high or too low will affect the expected outcome. Pricing too high will kick out serious buyers; pricing too low might not be a good strategy and not suitable for your property.

(4) Know what is on the market.
The best way to handle competition is to know your competitors. Check out other open houses in your neigborhood; know the condition of each house and other information. If you want your home to sell fast, don't price it higher than your neighbor's.

(5) Get a good appraisal report.
A good appraisal report will let the prospective buyer know that your home can be financed. However, it does have an expiration date and costs money. An alternative way is to hire a professional realtor to give you a comparative market analysis.

(6) Know what is tax assessment.
Your property value is not base on your property tax assessments. "Tax assessments are based on a number of criteria that may not be related to property values." It may not necessarily reflect your home's true value.

(7) Leave enough room for Negotiation.
Set your asking price close to market value if you want to sell quickly. Make sure there is room for bargaining.

(8) Appearances do count.
price in selling a home. The prospective buyer may react to emotions - see, smell and feel. Fix everything if it seems insignificant. Clean every spot, don't let any odors leave a bad impression to the prospective buyer. Try to give the best presentation to compete your home in the resale market, but in the new homes market as well.

(9) Be objective about your home.
Don't rely solely on your own judgment; accept good and bad opinions. In that case, you will know what should be done to make your home more marketable.

(10) Give prospective buyer a house warming welcome.
Choose items to add warmth to your house. For example, paint your house in neutral color, put a vase of flowers in the living room and etc. Check out some home decor magazines to give you ideas on how to present the interior of your home.

(11) Disclose everything in writing.
To avoid a lawsuit, all known effects should be disclosed in writing.

(12) Inform more prospects.
The more buyers interested in your home, the better chance of getting a good offer. Make sure your agent had input your home to Local Multiple Listing Services (MLS). This will generate thousands of other agents with their potential buyers to compete among themselves to offer the maximum price for your home.

(13) Use business like manner in your negotiation.
Don't let emotion affects your presentation as a seller. Ask your agent to provide assistance on how to act on certain conditions

(14) Know your buyer's credit.
How much down payment and credit, will give you an idea about buyers qualification for the mortgage.

(15) Know the closing date.
Knowing the dates of each process, especially the closing date is an advantage for you.

(16) Don't give yourself pressure.
Don't set a deadline for selling. This will add unnecessary pressure.

(17) Don't be upset by a low offer.
Don't get turn down by a low offer. You can counter a low offer to your desired selling price. This is the bargaining process.

(18) Ensure all documents are completed.
All terms and conditions should be clearly written on the contracts. Make sure all the informations are correct.

(19) Choose a reliable realtor.
Choose a realtor with good reputation. Make sure you choose someone that you trust and feel confident with. Be aware of some listing agents who might not have enough time to provide full personal service to you.

(20) Pick the right real estate company.
It is an advantage for you to know whether the company will bring you potential buyers or not. Visit their office and facilities; see how their real estate business is running. Does the company have good connection and reputation with their client bases?