Focus on the end goal
Listen to your head, not your heart: Five surefire ways to sell your home now
Want to move? Have a home to sell?
Buying a home is one of the most emotional decisions and the highest financial commitment people make in their lifetime. Selling one is just as complicated.
Ultimately, both buyer and seller want the same things: A stress-free mutually-beneficial transaction. But when egos and survival of the fittest tendencies get in the way, a smooth transition can turn into a nightmare.
It is easy to concentrate on the numbers. As a seller, you want the highest price possible for your property. But the buyer wants the best deal.
If you instead focus on the end goal and make decisions based on logic, you may just find things go as planned.
Need a little help? Here are some tips to help you move on from your home.
Detach yourself emotionally
This is difficult to do, but it is essential as you gallivant through the process of moving. Think of it as an amicable divorce where everyone takes away what's rightfully theirs. You keep the memories. The home keeps its secrets. This frame of mind will help you immensely, especially as you navigate negotiations. Stay in-check making sure you are not too emotionally involved.
The moment you begin preparing to sell it, the home is no longer "yours." It should morph into a marketable product that can fit into someone else's personal story. This means you need to put away pictures, de-clutter and aim to showcase the space. If need be, rent a storage facility and put away anything that you will not need in the near future.
Get an inspection
At some point during the transaction, the potential buyer will request an inspection. The results can scare buyers away if too many things are found in disrepair or not in code compliance.
Rather than being caught by surprise, we suggest taking a proactive approach. Hire an inspector to look over your home and address issues prior to putting it on the market. Though its customary to negotiate who will take care of the repairs recommended in the report, you will earn your buyer's confidence showing that you've mantained your property well.
Do it now rather than later.
Get an appraisal
Sellers often think their home is more valuable than it really is. It's easy to speculate on rising prices and assume that your neighbors were truthful when they disclosed their selling price. Newsflash: People always lie regarding how much they bought or sold something for.
Seek the help of experts to make sure you are on target. As loan conditions continue to be more critical, the selling price could be the determining factor on whether the buyer can secure financing.
Hire a Realtor
Do you really want to do this yourself? I wouldn't. Better to heed the advice of a professional who does this day and day out.
Ask for referrals from your family and friends, because chances are, they all know a reputable and friendly real estate expert waiting to sell your home. But don't hire the first one you meet just because you get "good vibes." Ask about their marketing strategy, track record, your neighborhood's comparable sales, days on the market and their particular view on where your home fits in your community.
At all costs, avoid doing business with family unless you are secure that your relationship can handle emotional mistakes — some that could have an impact on your pocket book.
Take the offer
Remember the saying "a bird in the hand is better than two in the bush"? It may not be the ideal offer, but it's an offer. All sellers believe there's a better and higher proposal just around the corner. Chances are, there isn't unless you are in a high demand area.
Seller's remorse will hit in six months when you are desperate to dump your pad — having spent more money living in it — and suddenly become willing to drop the price just to make it happen. Take it like a man and move on.