Every real estate market is different but it goes without being said that selling and buying a house is a huge financial investment and making the entire process run smoothly is normally the top priority for everyone involved. Being prepared is key and investing in the right real estate professional is crucial for a successful experience and to ensure you get the most money in your pocket.
The top frequently asked questions from sellers begin before the home selling process begins and it’s suggested that you are prepared and have a strong understanding of the process. So what are the most frequently asked questions from home sellers?
1. What time of the year is the best to sell?
This is probably the most common question any seller is going to ask before they sign a contract. Now, of course, there are many factors that will affect when will be the best time to sell your home. Depending on where you live, the real estate market in your area, and the condition of the home you are selling are some of the main obstacles.
Generally speaking, selling in the summer months can mean a faster home sale at a higher price. But just because many homes sell faster and for more money during these few months of the year doesn’t mean that this is necessarily the best time for you.
In conclusion, every city is different and the best time to sell (and even certain days of the week) will be something your realtor will discuss with you and the more time they have to work with you, the more time they’ll have to prepare your house and meet your goals.
2. Are repairs needed before listing the house?
As the home sellers, you’ll want your home in tip-top shape to ensure you profit the most money – but you don’t want to overspend on home improvements that will, in the end, just eat up that over-asking offer you receive. The key is to focus on the most important repairs that will boost your home’s first impression appearance and longevity.
You only get one chance to make a first impression and some of the main repairs that are most commonly needed will be fixing damaged flooring, cracked foundations (interior and exterior), roofing, updating grouting, polishing up your landscaping, and most important when it comes to first impressions – curb appeal.
Setting your home up for success doesn’t have to be expensive and meeting with an agent will definitely help spark some ideas once they walk through your home they will be able to tell you exactly what you need to do to get top-dollar for your home.
3. Can I remove any of my favorite appliances or fixtures from the house?
You’ve probably already put a lot into fixing up your home over the time you’ve lived there and now you’re about to sell, and looking at these expensive items thinking, “Can I take them to my next home?”
It’s true that “fixtures” are, by U.S. law – expected to stay with the home. These mostly immovable or built-in objects become part of the “real property,” as distinguished from “personal property,” which you are free to take with you. Major appliances, like a stove and refrigerator, are often included in the sale despite being movable in most cases. In any case, they are large and significant enough that savvy buyers and sellers will make sure they’ve reached a clear agreement on whether they stay or go and if they are removed, likely the price of what a buyer is willing to pay will go down.
All in all, if there’s something specific you don’t want to be included in the sale, make sure you bring it up during negotiations and you will have to bring that to the agents’ attention and note it in your sales contract to clarify to buyers exactly what items are included and aren’t included.
4. What do I do if my home is not selling?
When it comes to your home selling quickly or not, leave that up to the professional to do whatever it takes to solve this problem. There could be many reasons why your home isn’t selling quickly, not getting showings or offers or there could be one factor that is overall causing your home to be overlooked by potential buyers.
It can be quite frustrating if you end up in this situation but don’t let it be discouraging. Your realtor is most likely highly skilled when it comes to this predicament and knows exactly what actions they need to take in order to get your home sold. Whether it’s your overall presentation, curb appeal, or a price reduction needs to happen – whatever it may be, you won’t have to do anything until your realtor instructs you to do so!
5. How hot is the real estate market right now?
There are many indicators that a top-producing realtor that is local to your area will know about the current market condition and will be able to share with you before you jump into the home selling process.
One of the first things that impresses a seller is if the average days on market are currently low or not. Every seller is different and some sellers like their home to be on the market for a longer period of time to ensure they get the highest offer and exposure to as many buyers as possible. On the other hand, some sellers get ecstatic when their realtor informs them that they have an offer 48 hours after their home hits the market (which is very common right now).
You’re most likely a seller if you are reading this article and you’re in luck because it is currently a seller’s market and the number of homes for sale is sparse. If there is not much to choose from, the nicest homes will attract the most attention, but the homes with less potential will sell, too — simply because there aren’t very many options.
6. Should I buy before or after I sell my current home?
At the end of the day, moving is always stressful no matter how you look at it. Whether you want to sell your current house first and then buy or buy your next home before you sell, both decisions are huge and you have to always do what is best for your situation at the end of the day.
Buying Before You Sell
If you’re selling a house with a mortgage, some people say you should sell your old home first so you’re not stuck with two mortgages at the same time or stressing about if you qualify for both in the first place. Others say you should wait to sell later so you’re not in between homes. But homeowners can always sell their properties with contingencies built into their contracts, stating that they must be able to buy a replacement house or the deal is off the table.
Selling Before You Buy
You close on the sale of your current home on August 25, and then you start looking for your dream home. You find it, and your closing date to purchase that property is September 25. Now, you’re stuck renting for a couple of months or moving in with friends or relatives for a month. Either way, you’ll move once to your temporary quarters and again into your new home. You’ll have to pay movers twice, and you’ll probably have to pay for storage in the interim.
Bottom line is that both buying before selling and buying after selling have their pros and cons. Talk to one of our agents and your preferred lender to find out which option makes the most sense for you.
