When Should You Sell Your Home?
Selling Your Home in Dallas/Fort Worth? call (214) 723-1304. The will be a whole slew of questions and a lot of times, anxiety. You ask yourself, how much is my home worth? What if I price it too high or too low? Are you willing to pay 6 percent commission to a realtor? Do you need to sell now or quickly so as to meet a deadline. Should you make repairs such as, painting, roofing,foundation ect…All this you should be asking yourself.
As an experienced real investor, I write this article to help you the home seller look at the selling process step by step. Also to provide links to other sources of information.
Step 1. Decide How the Local Market Will Affect Your House Sale
Hot or Col? A ‘hot’ market is one in which there are more buyers than sellers, so the buyers are competing with each other and driving up prices. When should you jump in this type of market? A ‘cold’ market is one with more sellers than buyers, so the buyers can be choosy and buy low. in a hotter market, you can price your house aggressively. In a colder market, setting the price at or a little below market value is best. so that the house doesn’t stagnate on the market.
Do a lot research in your local market. Don’t rely solely on the national headlines even in the coldest markets, for example, houses in some neighborhoods or cities continue to hold their value and even attract multiple offers. Talking with your neighbors can teach you a fair amount about your local real estate market. Local newspapers can help. Selling your home in Dallas/Fort Worth? call (214) 723-1304.
Step 2. Using Comparable Houses to Set Your List Price
What is a ‘comp’ you ask? A ‘comp’ is only one of many factors that go into pricing your house for sale. Comparable’s are used to see the sold-price of other homes in your immediate neighborhood. With these sold prices, you can gather information such as square footage, number of bedrooms, bathrooms, style of property, and repairs that are needed or were made prior to selling the house. Should your house have similar features and in close proximity to your house, chances are you can price closely to that property.
To get ‘Sold-Comps” visit open houses in your area, read the classified ads (in print or online), and check out real estate websites which contain real estate listing’s from the Multiple Listing Service (MLS) are particularly helpful. Check out realtor.com or redfin.com
Look at the actual selling prices or ‘sold price’ of houses in your immediate area. this will help you decide what price to set on your house. Again, ask yourself, is your house retail ready, or does it need some cosmetic repairs or major repairs? Selling your home in Dallas/Fort Worth? call (214) 723-1304.
Don’t wait for a real estate agent, if you work with one, to put a dollar figure on how much your house is worth. For one thing, less scrupulous agents may inflate their estimates to capture your business. Call a couple of real estate investors to make offers on your house. They will tell you what repairs are needed for retail ready. An investor should also show you the ‘sold comparable’s’ in the area.
Step 3. Assemble Your Team of Professionals
Some sellers want to work with a real estate agent or attorney at some point in the process. In Texas a Title Company is required to transfer ownership of the property. Real Estate agents usually charge a 6% commission for helping you sell your house. Many home owners do not want to pay that amount and will try selling their house as For Sale by Owner. which can be a good decision on their part.
Despite the cost, experienced, responsible professionals can ultimately save you time, money and aggravation. Unfortunately, there are plenty of incompetent or unethical ones out there as well. Selling your home in Dallas/Fort Worth? call (214) 723-1304.
Step 4. Make Your House Look It’s Best
Before putting your house on the market, make it look as attractive as possible. Buyers will pay thousands of dollars more for a house if they like the look. Usually you don’t need to do a major remodel. A fresh coat of paint. however, can brighten your home’s prospects considerably. Again, ask your family and friends what their thoughts are on making any repairs to the house.