Whether you purchased your home four years ago or 40, selling for the first time can be tricky. Here are some important points to consider when you list your home for sale.
Frequently Asked Questions
- (+) Should I price my home a little high? I can always drop the price later.
We recommend against pricing your home too high, because this strategy is more likely to result in a lower price. A home for sale has the most activity during the first few weeks it is on the market.
If a home is overpriced, it has to compete with homes at that higher price level and is not as likely to attract an offer. Plus, if you drop the price later, potential buyers will see that and may factor this into their offers.
- (+) How should I prepare my home for sale?
- Make sure the area around and including your front door is painted nicely (and caulked if necessary) or washed if brick/stone.
- Sweep up and consider a nice entry door mat.
- Check your entry light. Is it old dingy and hanging loosely? Look for deals on new light fixtures online and at discount stores.
- Pull all weeds. It is easy and does make a difference.
- If you have large bare spots in the grass put down a seed patch mix. Follow the directions to make sure it looks nice.
- If you have rock or mulch areas that look dirty and messy, purchase a few bags of matching material from hardware or landscaping stores. Put down the new clean looking material for a quick spruce up. (Alternative for those looking to cut costs and willing to do some more work - pick up the rock/mulch and put it on a screen to remove the leaves and other debris and then wash with water and put back. This will give it a clean fresh look without purchasing any new materials)
- (+) Am I responsible for fixing any problems that come up in the home inspection?
The purpose of a home inspection is to expose major problems. Usually only minor problems are noted. The older the home, the more minor problems there are likely to be. If the inspection exposes a major problem, the home seller and buyer must work together to come up with a solution. Options include addressing the needed repairs yourself, deducting the price of the repairs from the bid or splitting the cost of the repairs with the buyer. Your agent will assist you in finding a solution that is acceptable to all parties involved.
- (+) Why shouldn't I just sell my home myself?
Many aspects of the selling process are impractical for a homeowner. You would need to be prepared to market and show your home, which would mean taking calls at all hours and sacrificing your free time for showings. I'm not only highly trained in every step of selling a home, they also have the negotiation skills to make sure you get the highest possible price.
- (+) How Do I Open an Escrow?
Your real estate agent will open escrow. As soon as you execute the Purchase Agreement, your agent will place your initial (earnest money) deposit the escrow company's trust account. You will receive a receipt for the funds.