Tips for selling a house and key precautions
Everything Else

Tips for selling a house and key precautions

You may want to move from one place to another for work, business, study, change of scenery, saving money, or other obligations. Here, selling your existing house at a profit or at least a reasonable price is essential. However, selling the property, getting the right price, and transferring ownership can take careful planning and professional assistance. To help you get started, here is a brief guide to selling a house in a hassle-free way:

Tips
The real estate market has been volatile for a while now. Even though bidding wars have slowed down, buyers like to be safe until the price and mortgage rates drop. Here are tips for selling your house:

  • Set a timeline: Selling houses can be a long process at times. Based on the current market situation, it can take several months. So, it would be wise to plan ahead and stay organized. Here, setting a timeline after researching the market and conducting a pre-sale inspection of the house can help you have realistic expectations regarding how much time you need to invest in the process.
  • Find an experienced broker: Do you need a broker? If you want to sell your house quickly, you may need one. An experienced real estate agent understands the market trends, the right pricing, important paperwork, and hassle-free ways to sell a house. You can shortlist local agents and check their experience, success rate, and qualifications online. You must pay attention to their market listings and how professional the listing photos appear. Additionally, take into account that the agent will charge a commission of anywhere between 2% to 4% of the selling price.
  • Set a price: Setting a realistic price for the property is an ideal way to sell it quickly. If you set a price too high, you may lose potential buyers. However, while deciding a price, take into account taxation and other costs, as when the deal goes through, you will have to pay transfer taxes, recording fees, and outstanding debts. Nevertheless, you may not owe the government taxes on your profit, depending on the amount and how long you have owned and stayed in the house.
  • Get the house cleaned: Buyers should be able to see all the surfaces, walls, and fixtures in the house. So, you must clean the house, arrange your furniture (if selling a furnished property), and declutter it efficiently. You can hire professional cleaners and stagers to make your house look as appealing to buyers as possible.
  • Get upgrades and repair work: You may also need to install upgrades to make the house more functional for buyers. Focus on upgrades that offer a high return on investment. For instance, you can repair and upgrade the kitchen and bathroom to seek a higher price for the house.
  • Enhance curb appeal: When prospective buyers visit the house, the exterior will be the first thing they notice. The exterior and the surrounding areas can require cleanup, fresh paint, and modern fixtures. Making the space look good is one of the most effective ways to sell a house at the price you want.
  • Review the offer and negotiate: When you get a low offer, rather than rejecting it immediately, you can negotiate with the buyer and make a counteroffer.

Precautions
If you are selling your property for the first time, you may have to face some hassles, especially if you decide not to engage the services of a real estate broker. For instance, you could face unprecedented delays, or when potential buyers visit the house, they can argue about the price and the way the house is built. So. here a few precautions to take while selling a house:

  • Do not set an unrealistic price for your property, as it can scare away prospective buyers.
  • Avoid putting your house up for sale during the holiday season, as during the winter months, potential buyers are busy with various social engagements.
  • Do not skimp on the house listing photos. Get high-quality, clear pictures of the property, as the buyers will initially show interest by looking at them.
  • If you hide vital problems in the house, it is likely to remain unsold. You can fix or lower the price to compensate for the issues.
  • You should have an appropriate homeowners insurance policy. If something unpleasant happens to viewers on the property, the policy can protect you if they sue you for the damage.

Selling a house can be easy if you do your research and take the necessary precautions. Seeking guidance and assistance from an experienced real estate agent can also make the process easier.