Selling your house can be a lengthy and stressful process. And unfortunately, it’s not very intuitive.
But lots of people are doing it. In July of 2020, more than 900,000 homes were sold in the United States.
If other people can do it, you can too. Follow this simple guide for a breakdown of how to prepare to sell your house.
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Decide How to Sell Your House
The first step in preparing to sell your house is to decide how you are going to do it. There are three basic ways.
The first way is to find a real estate agent, also known as a “listing agent.” The agent will provide invaluable help in pricing and selling your home. But they will also take a commission out of your sale price.
Many people think finding a real estate agent is the only way to sell your home. But you can also go the “For Sale By Owner” or FSBO route.
If you decide to do FSBO, you won’t have to give a commission to a listing agent. But you might have a harder time marketing your home.
Your third option is to go with cash home buyers. These companies will buy your home from you directly. This is a good option for people looking to sell their home as soon as possible.
Determine Your Asking Price
Once you decide how to sell your home, you need to determine your asking price. Your asking price will represent the value of your home. Contributing factors include:
- Location
- Number of bedrooms/bathrooms
- Year built
- Condition
These things are all intuitive. But your listing price should also factor in what comparable homes have sold for nearby.
If you’re selling with an agent, they will have that information for you. If you opted to go the FSBO route, there are online tools that can help you determine a listing price.
Always make sure your listing price takes into account agent commissions. This can include a cut for your listing agent, as well as your buyer’s agent.
You also need to consider whether time or money is more valuable to you. If you list your home at a lower price, it might sell more quickly. If you are on a time crunch this might be the deciding factor.
Get Your House Ready to Sell
Figuring out how to prepare to sell your house is complicated. But now you know how you are going to sell it and for how much. You can move on to the staging phase.
By now your agent has listed your home, or you have listed it yourself. Pretty soon you will start getting requests to view your home. So you have to get it ready to be shown.
Decluttering your home is crucial. Clean everything and make your home look as neutral as possible. You want people to be able to envision themselves in your home.
A few nice touches like fresh flowers don’t hurt, either.
Now You Know How to Prepare to Sell Your House
Now you know how to prepare to sell your house. If you follow these three steps, you’ll be primed and ready to receive offers. For more advice on home buying and selling, read our Real Estate Development section!
