Seller Questions 101
Seller Questions 101 written by Shelby George
Whether you are looking to buy a home or sell a home, you will most certainly have questions when it comes to the process. Some questions may be small and thus easy to ask; while others may be bigger or more uncomfortable to ask. We have compiled a list of the most common questions asked by a seller to help you navigate the sometimes confusing world of real estate.
1. Why should I hire a real estate agent? To expedite the selling process price your home accurately. This will allow you to sell quickly and still get the best value. Your agent will develop a marketing plan tailored to your needs and what will best showcase the property. The agent will offer advice to boost your home’s value They will handle the sometimes-complicated paperwork, An agent guides you through the selling process and eases your stress during the transaction. They negotiate for you! Not only to get you the best price but also during the inspection and repair request process.
2. What preparation is involved before selling? Before selling your home, you will want to prepare it for listing photos and buyer walkthroughs. What you need to do to your home is not a one size fits all idea. It depends on the market, the price point of the home and your budget. Some homes just need some sprucing up while others could benefit from painting the exterior or a remodel. One home may need to update their kitchen or bathroom while another needs to simply remove clutter from the home. An agent will help you determine the most appropriate plan of action for you and your home.
3. Should I sell my home on my own? Do you have the time to market your home, find a qualified buyer, manage the selling process, negotiate, and complete all the complicated paperwork? Not only is there a lot of time involved in selling a home but it usually will take you longer to sell your home, typically you’ll sell it for less than you would with an agent (even after paying commission) and you could get into legal issues if you misrepresent the contract. Agents go through extensive schooling, continued education classes, have a network of other agents they can take advantage of and are far more equipped for selling a home.
4. Should I sell my current home before buying? That depends on a few things; 1. Your financial situation – can you afford both mortgages? 2. Your personal preference – are you more comfortable selling before or after finding your next home? One of the biggest Pros for selling after you buy is that you can remodel your new home, if you are planning to do so without living through renovations. However, you would have to carry both mortgages which can be not only financially stressful it can be emotionally stressful. If purchasing a second home before selling your current home is something you are considering you will need to speak with a lender to make sure you can qualify for a second home loan and what type of down payment you will need. Typically, if the new home isn’t your primary residence you have to put 20% down as a down payment.
5. How much is my home worth? The money question! This is a big one for sellers and tends to dictate An agent will compare your home to other homes in the area taking many different factors into consideration to give you the best market value for your property. It’s important to know that when an agent compares your homes to others they have to compare apples to apples. If your home is a two-story home an agent wouldn’t compare it to a single story home. It takes practice to be able to accurately price a home and if done incorrectly could cost the seller a lot of money. If a home is overpriced, it can sit on the market causing it to become stale and force a price drop. This in turn leads buyers to believe that something may be wrong with the home and could turn them off all together or they will submit a low-ball offer. If a home is underpriced it clearly leaves money on the table for the seller and also devalues the entire neighborhood. While there are websites that can give you a home valuation, they aren’t very accurate and use outdated information and should not hold to much weight when considering price. Pricing a home correctly is key! A great agent will help you avoid all of the pitfalls, and make the entire process enjoyable!
If you are thinking of possibly selling your home this year and have questions, please reach out to Shelby at 520-213-5201 or firstname.lastname@example.org.