Tips for Selling a Home for the First Time
Remember the days when you embarked on your search for the house you are living in at present. I know it makes you sigh. The exhaustion of running from place to place, finding a sincere real estate agent, hitting on different houses, adjusting your budget, negotiating with the sellers, producing the legal documents were definitely not easy. And obviously they did not happen overnight. It must have taken you months of strenuous efforts to accomplish all of these. And now when you are deciding to sell your home, let me be frank, it is not going to be easy. You are going to enter into this exhausting cycle all over again .
If you are planning for a home sale to get more money, then you need to know more about the updated methods of selling the property. When you are ready to sell your property, getting a good impression of your property is most important that can inspire a prospective buyer. Taking the help of a real estate agent can do wonders as he can tell you what all buyers wish to see in a house before landing on the decision to buy it. You need to always assure yourself that your property has more value in the market.
Here are a few important pointers listed for you to remember before you sell a home:
Make Your Home All-New:
Do you want to sell your home for a higher price than its market value? Then making your home for sale so beautiful that will inspire the buyers enough and convenient in making them buy your property. Add high-quality paint for the walls alongside cleaning, decluttering and repairing that will all make for a foolproof plan to sell your home at higher value.
Call For a Thorough Inspection:
When you are going to put your home ‘on-sale’ in the market, the best thing you can do is to ensure that all the features of your home are in their prime condition. Hiring a professional home inspector for a thorough inspection will be more apt. Detecting any issues at the earliest will help solve your problem as you get to add more value before selling your home.
Hire The Best Realtor in Town:
One of the crucial steps for selling your own home is through hiring a top-class real estate agent. Not all real estate agents are the same as you can have higher expectations from the top real estate agent in the markets as they possess some ideal qualities and skill sets.
Choose When To Sell The Property:
Sometimes, it is a great option to wait for the exact opportunity to sell your property for a higher value. Many people like to sell their property during the month of March, April and May unless in-case of any emergency. This is because selling the property in spring months will yield better sales of your property with lucrative offers.
Gather Legal Paperwork and Other Documents:
Legality to sell your house is most important so that it is necessary for gathering all kinds of paperwork and documents regarding the property. Some people are worried about the type of documents and paperwork required before selling their home; so some of them are warranty paperwork, age of Central Air conditioning, Hot water heater, Furnace age, Roof age, Instrument survey and many other instruction manuals. Make sure that any or all the building violations are cleared.
Dissociate Yourself of ‘My Home’ Feeling:
Once you have decided on placing the ‘on-sale’ tag for your home in the marketplace, then you first will have to get rid of your personal attachment with the property. Think of selling your house on a fast pace with the best in-class advertisement for selling the property.
Creating a suitable environment is most necessary while selling the home. Remove all your personal photos and items from the home; thus it keeps the potential home buyer far from being distracted. If selling your home fast is on your mind then you must get rid of any excess furniture on a daily basis, thus making it convenient for the home buyers to get a happy life. Clear out all the tabletops, bookshelves, cabinets and many others for making the room more spacious and organized.
Remove The Movables:
Removing the newer items will be more convenient that includes the lighting fixtures, window treatments, packed boxes, storage room and many other items. Remove the window coverings as well as drapery making way for more space.
Repair Or Replace:
Some of the major things in the house that can be replaced or repaired are:
- Painting the rooms to have a fresh look
- Replacing the light bulbs
- Fixing the broken doors, locks, sliders and drawers
- Align the window blinds and shades
- Place the flower arrangements fresh
- Arrange all furniture in order
Hence, remember to sell your home to a prospective buyer with all these pointers checked intact.
Documents You Should Keep Ready
Read further to know about the documents which should be handy when you are ready to sell your home.
Original Sales Contract:
The original sales contract is the agreement you had made with the previous owner of the house. Every minute detail about the transaction and the property is noted there. The contract defines who made the transaction, why and when was it made, where and how it happened. It also includes the terms and conditions applied to that particular house which needs to be shared with the new buyer. Besides, transparency is maintained between the previous and new buyers through the original sales contract.
Insurance Records of the Homeowner:
Providing this document will help your buyer make an informed decision. Through this your buyer will come to know about the damages made to the house and the repairs done previously. It is also essential to produce the proof of the insurance information of the homeowner before your buyer. Moreover, a report of the claims made on the house since the time you purchased needs to be provided to the buyer. All this information is highly important as it will inform the buyer about the cost of the homeowner’s insurance while they move into it.
Home Repair and Maintenance Records:
These records are a solid proof of everything you have done to better the state of your house while owning it. You might be thinking why it is necessary to produce these documents. Well, they are more important than they appear. These documents will tell your buyer which parts are in a good condition and which ones require attention and immediate repair. Below are certain things, your home repair and maintenance records should contain:
- Receipts of all the maintenance works you have done in the house .
- Utility maps for sewers, water mains, electric cables , gas etc.
Records of Capital Improvements:
Capital Improvements include remodeling the kitchen or bathroom. If you create a swimming pool in the backyard or reconstruct the roof of your house , those can also be considered as capital improvements. You must know that essential maintenance works do not get counted in capital improvements. So, keep the receipts at hand. They diminish the tax you owe due to capital gains on your home sales.
It might feel awkward to know that you need to provide this petty information, but they are equally important. Your buyer might not always ask you about this. But it is natural for them to expect an estimate of how much the electricity, water, sewer bills are for every month in order to plan their monthly budget. Some buyers might as well ask you for the utility bills of the previous year. Therefore, it’s better to have such records handy.
An encumbrance certificate, commonly called an EC is a certificate that assures your buyer that the house in question does not have any monetary or legal liability. This helps your property fetch an impressive market price. You can’t meddle with this. Providing spurious information to your buyer can result in legal actions being taken against you.
After both the parties finish negotiating and all the documents have been arranged, both parties head towards an agreement and the terms and conditions agreed upon are laid down. All of this is recorded in a document called the sales agreement. Subsequent actions are predicated on this crucial document. It is produced on a non judicial stamp paper and is signed by both the parties, buyer and seller, having two witnesses by their sides.
If you have skipped any part of the article and have jumped to the conclusion then please read the entire one. You would need to focus on all the points mentioned above to successfully sell your home and gain maximum profit. The above points will prepare a grid for you to work in while you are planning to sell your house. It will ensure maximum benefits for you and your buyer. So, keep the tips in mind, have patience and every effort will pay off.