In 2021, many areas across the country are expected to be a seller’s market. So, if you’ve been thinking about selling your house, this year may be better than most. But if you’ve never sold a home before, you may be surprised how much work goes into it. Here are some tips for selling your home to get the best price in 2021.
1. Find a Real Estate Agent
The first tip for selling your home is to get a real estate agent. While some people want to act as their own agent in hopes of saving a little money, they may actually end up losing money in the end. That’s because the process of selling a house is extremely complex. It requires a lot of expert knowledge about the market, understanding how to find interested buyers, skilled negotiation tactics and detailed management of all the appropriate legal paperwork. If you don’t manage everything correctly, you could leave thousands of dollars on the table.
Real estate agents take a lot of stress out of selling your house and make sure every part of the process is done correctly. At Homes for Heroes, our real estate specialists are experts at selling homes in your community and love assisting heroes who are looking to sell. Not to mention, heroes save an average of $2,400 when they work with Homes for Heroes specialists to sell their home. Simply register online, there’s no obligation, and you’ll be automatically paired with a specialist in your local area.
2. Determine Your Home Value
The next tip for selling your home is to figure out how much your home is worth. Your real estate specialist will put together a comparative market analysis. This analysis generally looks at the quality of your neighborhood, the age, condition and any upgrades made to your house, the overall property value, and the average price of similar homes recently sold in the area. All of this information will help your real estate specialist determine the best pricing strategy to sell your house.
3. Make Necessary Repairs and Updates
While many home buyers say they want charm and character, they don’t want things to look old, worn or broken. To get the best price, you’ll want to make everything look as new and well-maintained as possible. Making small upgrades that are low in cost and take minimal time to finish is a great way to improve the overall appeal and value of your home. Consider updating your lighting, floors, faucets, tile and grout, paint, cupboards and landscaping as needed before putting your home on the market.
4. Get Ready to Sell Your House
As clean and organized as your home may be, you will want to make sure your home is as tidy as possible to attract the highest offers. This means doing a deep clean from top to bottom. Getting your home ready to sell also means staging your home so it appeals to the most buyers. Your real estate agent will also implement a marketing strategy for your home. It may include professional photography, ad campaigns, open house events and showings. It could also involve social media marketing where they may even use specialist companies such as Task Ant to find the best ways to market the content through hashtags on platforms like Instagram. Bottom line, when it comes to selling your house, it’s all about attracting the attention of potential home buyers and getting them to fall in love with your house.
5. Prepare Your Seller’s Disclosure Statement
A seller’s disclosure statement is a legally required document in which you disclose any issues with your home, past or present. This could be anything from a leaky basement to an addition built without a permit. Although the general idea is to protect buyers from purchasing a property on the verge of collapse, it can also protect you as the seller too. By disclosing known issues, you can save yourself from potential legal action in the future. If you’re not sure whether to include something on the seller’s disclosure statement, consult with your real estate specialist. They can tell you if it’s something that’s typically in the disclosure statement.
6. Get Ready for Open Houses and Showings
Once your home looks its best and you have your disclosure statement ready, it’s time to open your home to potential buyers. Hosting open houses and showings can be a long and tedious process, and you don’t want to put your life on hold just because you’re selling your home. That’s why your real estate agent should take the lead during this part of the process, showing your home while you handle everything else in your life.
7. Approach Purchase Offers and Negotiations Carefully
The most exciting part of selling your home is when the offers start to come in. Pay attention to how much they’re offering, the type of mortgage, their contingencies, personal letter and any other factors included in their offer. Your real estate agent can help you sort through the offers to determine which, if any, are solid offers. From there, your real estate specialist will handle the negotiations. This can take some back and forth, so stay patient and trust that your real estate agent is working to get the best offer possible for you and your family.
8. Hire a Title Company
Once you’ve accepted an offer, you’ll need to hire a title company and establish an escrow account. The title specialist will make sure there are no outstanding issues with the property, essentially clearing the way for the sale to be completed. Any earnest money is placed into an escrow account managed by the title company until closing day. Earnest money is paid by the buyer to prove their offer is in good faith.
9. Home Appraisal and Home Inspection
Before you can close on the sale, you’ll likely have to get your home appraised and inspected. The appraisal process involves an appraisal specialist doing a home walkthrough and other analysis to determine the appraised value of your home. This is important because most banks won’t issue a mortgage for more than a home’s appraised value. Best practice is to hire your own appraiser because you will not be entitled to the report if the home buyer pays for it.
During a home inspection, the buyer and a professional inspector will examine all of your home’s basic structural components, including HVAC systems, electrical work, the foundation, basement, roof, attic, floors, windows and doors. Make it easy for the inspector to access all parts of your house, and consider hiring your own inspector to look for issues before you put your house on the market. Big issues following a home inspection can often delay the sale or cause a buyer to back out entirely.
10. Get Ready for Closing Day
Closing day is when you’ll finally hand over the keys and the sale becomes official. All parties – including agents, lenders, title officers, buyers and others – will be in attendance. Be prepared to sign a lot of paperwork. If you have to pay any closing costs, you’ll likely need a cashier’s or certified check. Your real estate agent will let you know what to expect before the day actually arrives. Once all the paperwork is signed and the keys are given to the buyer, your home is officially sold. You can say goodbye to your old home and hello to your next adventure.
If you’re thinking about selling your home, register with Homes for Heroes today. Our real estate specialists can walk you through how to sell your house, simplify the process, and help you get you a great offer on your home.