The reality is that it’s a process that tends to be lengthy and involves many aspects to consider.
Prepare with Plenty of Time
The average time to negotiate a house sale is about 6 months, though it depends on various factors such as the property’s condition, its location, the real estate market situation, among others.
Both preparing the house and the selling process take several months, so it’s best to start planning well in advance.
Educate Yourself About the Process
Understanding the steps involved in the transaction is essential to know what to expect and to maintain the necessary momentum until the end.
Some people choose to sell their house through a real estate agent.
If you opt for this route, the first step is to find a real estate broker who knows the area and the market.
If, on the other hand, you decide to sell it yourself, being aware of the step-by-step process is even more critical because you’ll be handling the entire transaction.
Both options have their advantages and disadvantages.
However, you should consider that data from a study show that sales through agents result in higher prices and take less time.
Whichever decision you make, information will be your best ally.
Make Small Value-Adding Improvements
Many sellers hesitate to make improvements to their homes.
They think buyers will want to personalize it, and they also want to save money.
But the reality is that buyers generally seek a move-in ready home.
The fewer issues there are to address on the property, the better for them.
Before spending a lot of money on costly renovations, make sure the changes you plan to make have a direct impact on the property’s value.
Next, we’ll look at some things you can do to enhance your house’s price without overspending:
Clean and Organize
A thorough and deep cleaning of every square inch of the house is something easy to achieve and doesn’t entail a significant expense, even if you decide to hire professional cleaners.
Add a Fresh Coat of Paint
Any house will look clean and fresh with a good coat of paint.
Just remember to use neutral colors like white, gray, or beige.
This way, you’ll attract more potential buyers, and they’ll be able to envision themselves living there.
If you have enough time and some experience, you could do this job yourself, but you can always hire a professional.
Work on the Exterior
Since “the first impression is the one that counts,” it’s crucial for the exterior of the house to be in excellent condition.
Achieve this by washing the windows, cleaning the yards, mowing the lawn, or planting some new plants.
You could also consider replacing the front door for an even more powerful first impression.
Update Your Kitchen and Bathroom
A complete kitchen and bathroom renovation is expensive, but you can make small changes like painting the cabinets, adding new hardware, light fixtures, and mirrors.
These modest modifications can give your house a fresh look.
Prepare the House for Photos and Visits
If you want to attract potential buyers and get the best price, it’s necessary to prepare your house for both the photos you’ll post and the visits it will receive.
As part of preparing the house, it’s essential to organize the spaces (including the closets) and remove personal items like photos or mementos.
There are companies that professionally stage houses, including furniture and decor.
It’s an investment worth considering because well-prepared houses sell better and faster.
After preparing it, don’t forget to take some good photos that showcase the house from its best angles.
Remember, you can also hire a qualified photographer.
These photos will be invaluable for advertising the house and attracting buyers.
Realistically Assess Your House
Overpricing a house is one of the most common issues that hinder a sale.
A very high price will slow down the process initially, and eventually, you’ll have to lower it.
It’s not about giving away your property but setting a competitive price.
To make a reasonable assessment of the house, you need to understand the local market, know how much similar houses have sold for in the same area.
This reference is a good starting point.
You should also consider the square footage and the property’s features, such as the number of rooms and bathrooms, as well as the overall condition.
If you’ve decided to hire an agent, they will do this assessment for you.
However, make sure they do a proper valuation, as they may inflate the price to earn a higher commission, which could be detrimental.
List Your House
With good photos in hand, the next step is to write a detailed and appealing description of your house, highlighting its best features and strengths.
Post your house listing on Mappi to reach a broader audience.
If you’re working with a real estate agent, they will also have a more extensive client portfolio.
Review and Negotiate Offers
Once your house is listed, the first buyers will want to visit it, and soon after, offers will come in.
When you receive offers, you can accept, reject, or counteroffer, but always be sure to respond promptly.
Responses should be provided in writing, with a short deadline (at least 48 hours) for the buyer to reply.
If you happen to receive multiple offers simultaneously, carefully review them and don’t necessarily go for the highest price.
Consider the payment method, financing type, and the proposed closing date.
Gather Documentation and Close the Sale
To close the sale of your house, you’ll need a series of documents, such as the purchase contract, mortgage papers, tax information, insurance, among others.
Finally, with the documents (and the keys), close the sale.
Once everything is signed, you’ll have sold your house!
Remember that selling a house is a time-consuming process, so you’ll need all the patience you can muster.
Additionally, you’ll need to be prepared to adapt to the real estate market’s conditions.
If you follow this guide, you’ll be on the right path to selling your house for the best price.
