Here's some information that you should know before selling Real Estate...
In this current economic climate, making the decision to sell your property can be a difficult one. You will need to determine the main reason why you are considering selling your property. Are you simply ready to move on? Do you plan on buying another property? Are you no longer able to make the payments? Do you owe considerably more than what the property is worth? A unique approach that is tailor made to your specific situation is needed.
The first step of the process should be to contact a Real Estate listing agent. A listing agent will provide expertise that will guide you in the right direction, and prevent the mistakes commonly made while trying to accomplish this on your own. Believe me that you should not attempt to sell a property on your own! Research shows that a property that is sold through a listing agent typically sells for more money, and in a shorter amount of time, than a property that is for sale by owner. As a matter of fact, most properties that are for sale by owner either do not sell at all, or end up being listed through an agent anyway. By hiring a listing agent to sell your property, you will have a partner that knows intimately the ins and outs of the business. You are also showing buyers that you are a legitimate seller and that they can expect a lawful, ethical, and professional transaction.
A listing agent will provide you with their professional opinion as to the value of your property in the current market. This opinion is based on researching the recent sales prices of comparable properties, the list price of properties that are currently listed for sale, and comparing how your property compares to those. Other market conditions are also considered. The listing agent will also provide you with a strategy on how best to move forward according to your situation.
You should get your property ready for sale prior to putting it on the market. The listing agent will be able to give you pointers on how to increase your chances of having a successful sale. There are many potential areas that may need to be addressed. The most basic is the overall condition of the property. Even if you can't afford to make expensive repairs and improvements, you should always make sure that the property is clean and orderly, both inside and out. You would not believe how many sellers keep filthy bathrooms, leave dirty dishes in the sink, have overly cluttered rooms and closets and garages, do not mow the lawn, and do not clean up trash or pet waste. These conditions can lead to a lower sales price, and in most circumstances, will prevent a buyer from even presenting an offer at all. No matter what the condition of the property is, it should be clean and tidy at the very least.
It can be a good idea to have your property inspected prior to putting it on the market. An inspector can point out potential problems that may come up during the buyer's inspection. If the buyer's inspector finds the problem first, you can expect to re-negoatiate your sales contract, and the whole sale may be at risk. Often times, it is more cost effective to fix any problems before you list the property for sale. That means more money in your pocket! Again, check with your agent about what needs to be addressed. Better to be safe than sorry!
Each seller has a unique set of circumstances. This requires utilizing taylor made strategies to achieve a maximum result. If you would like to discuss your circumstances with me, I am happy to help. Please feel free to contact me at anytime. Advice is always free, and there's no high pressure sales pitch or gimicks...so relax!
To your success - Michael