During the height of the housing collapse, buyers had their pick of the litter with an overabundance of homes for sale all across the country. It’s when inventory is low that sellers have the advantage. If you are one of only a few people looking to sell in your area, you could find yourself smack dab in the middle of a bidding war!
If you have been thinking about selling your home, ask your agent about the inventory in your area. What is the current rate of home sales where you live? How many foreclosures? Is demand high for new homes? If housing supply is limited, now may be the right time for you to sell.
This is one that you may have heard before – spring is the best time to sell your home. According to a study by Zillow, this is good advice. Generally, in the early spring in warmer climates homes sell faster and for an average of 2% more. In areas where the climate is colder, the peak time to sell is late spring, early summer.
Combined with low interest rates and rising housing prices, if you time it just right, you could be looking at triple cherries right now. Could this be the perfect time for you to sell your home? Talk to the top agent in the Austin area now to find out!
Both parties typically get an inspection done. It makes sense. As the seller, you want to know what problems could complicate your sale. Plus, you want to know what repairs need to be done so you can get the most value for your home.
The buyer wants to make sure that they are not putting all of their hard-earned dollars into a money pit. They are not going to rely on your inspector’s report alone, nor should they. When both parties do an inspection, it protects both sides. But it can also create problems if the reports have conflicting results.
There are many ways to resolve those disputes that will not derail the transaction. In order for that to happen, both parties have to be willing to compromise:
The worst thing that can happen when there are conflicting reports is for trust to deteriorate. You can help avoid that by choosing a home inspector that is trustworthy, not just one that will give you a good report. Face it, even if they give you an artificially glowing report, the truth will come out in the end.
When a deal breaks down over the home inspection, inflexibility and a lack of trust is typically the culprit. If you are not willing to negotiate on the price when problems show up on your inspection report you are setting yourself up for a rough close at the very least and a busted deal at worst.
Both buyers and sellers use CMAs to their benefit. Buyers often request one in order to determine whether or not your home is overpriced. Besides helping to ensure that your home is priced appropriately, the CMA can also help you avoid making unnecessary improvements before the sale. If you’ve been thinking about remodeling your kitchen or replacing the siding, the CMA will show you which improvement will net you a higher ROI in your area.
Before you begin knocking down walls and laying tile, have a CMA produced so that you spend your money wisely when making improvements or upgrades before listing your house.
A home appraisal, at its essence, is the process of determining how much a home is worth. The appraisal in a home sale is required by the lender (the buyer pays for it) and it is an essential step in the financing approval process. It is used to determine the fair market value of your home.
Whatever value is determined by the appraiser is the value that the lender will use to determine the loan amount that the buyer will be approved for. A licensed appraiser covers the entire property, including the house itself, the land, and any additional structures on the property. Factors that affect the appraisal include:
If you fail to make repairs or improvements to your property or fail to point out upgrades and improvements to the appraiser, it could result in a low appraisal. Prospective buyers will use a home inspector to take a look at the property as well. It’s important to note that inspections and appraisals are two different processes, conducted for different reasons.
This is a quick rundown of the most common questions about home selling. Below you will find the answers to these questions to help you get a better understanding of what to expect.
How Do I Set My Asking Price?
First things first, you want to price your home as accurately as possible. That can be contrary to some advisors who suggest pricing high in a sellers’ market. Others suggest pricing low to spark more interest. It is a game to get into these types of price manipulations and someone inevitably loses. Avoid the risk altogether and set the price competitively for your particular area.
Do you design home interiors for a living? If not, you should definitely use a stager. Buyers form a snap judgment about your home if things are untidy and out of order, so you should definitely make sure it’s spotless. However, to truly stand out, you want better than just a clean home. You could have a perfectly tidy house but it’s the overall aesthetics that will make or break a sale.
Here’s how you can get started with sprucing things up if you don’t want to call a stager yet