One of the most important things we did before we decided to sell our home, was to rule out all the surprises. Having bought and sold a few times, we have come up with a list of things we do each time, prior to appointing an agent. For us being prepared, enables us to be sure we are making the right decisions when we need to make them, perhaps they can help prepare you for selling your home too.
5 Tips To Help You Prepare For Selling Your Home
If you have a good relationship with your bank manager, there is opportunity to ask them for a desk top valuation on your home. This valuation will likely scare you, as it isn’t market value, but it is where the bank, from an office level, think your home is likely valued at. Why is this step important? Because it’s what the buyer’s banks will be doing.
Knowing what this figure is, before selling your home, will enable you to understand what the buyers are thinking throughout their process. It will help you to understand what their banks are doing and more than anything, it will stop the surprise when this figure is mentioned to you. There may come a point in which an agent or buyer will want to bargain, and this is often the starting point for that negotiation.
You could extend this to a paid valuation to further arm you with all the facts.
Building and Pest
We are lucky to have The Builder to do our building inspections, but we always have our homes pest inspected. Again to remove the element of surprise, but also to give us the opportunity to remove any issues before they arise with a buyer.
Faults with the building and pest performed by the buyer are a point for negotiation on price and conditions. If you have ruled out the variables before you go to market, you remove this surprise half way through the process.
Test The Market
Testing the market for us happens in 2 ways. Firstly we research all the houses on the market that are comparable to what we are offering. In the case of Pen Y Llechwedd, we had nothing on the market that was a perfect fit, but we did have the advantage on knowing a few other similar homes, that we were able to base our research on.
Next, visit these homes at their next open day, take note of the condition of the home, how it is presented and it’s price. Now compare that to yours. If you do this over and over, keeping a spreadsheet of where they are all at, you will quickly find a current market value of your home.
Another way in which we do this, is to invite our friends to walk through the home and give us some feedback. If you have honest friends you can trust, this feedback will be invaluable. Again it will help to determine the current market value for your home.
Although the agent will help you set the price for your home, you don’t want to be led into something that isn’t right for a quick sale. Have a firm price in mind, prior to engaging your agent.
Find An Agent
Finding an agent is not easy when there are so many of them selling in your area. Research, interview and find one you are above all comfortable with as they are about to be very heavily involved in your life.
As friends and family for recommendations, check website reviews and interview each candidate. Each of us communicate in different ways, which means an agent that worked for one person may not for you.
Having the right agent is crucial for a successful sale.
Auction or Sale
The last decision to make is whether to auction or to set a price and put your house up for sale. I can’t answer that question for you, there is a long list of for and against for both option. What I can tell you is, both options work.
If you have put in the time to find the right agent, they will be able to direct you to how each of these options are working with the current market.
Selling your home should be an informed decision, in which you have done all your homework to ensure it is done the way you wish. I hope these tips will help you with that preparation.
Have you bought or sold recently? Were you happy with the process?