Here are 5 frequently asked questions from home sellers:
When is the best time to sell my home?
Generally your agent will tell you it’s best to sell your home in the summer. The warm weather and break from school lends itself to being a good time to move. Additionally houses tend to have more curb appeal in the summer because the grass is green, the trees have leaves and flowers are blooming. Each season is different but selling in the off season doesn’t mean you’ll be on the market for months on end. Here are some tips for selling your home in the winter.
The short answer to this is anything and everything you know about the house. From repairs and upgrades you have done to the leaky faucet in the basement bathroom, it’s your responsibility to disclose these details to potential buyers. Your agent will have you fill out and and sign disclosure documents to send to the buyer’s agent for the buyers to review. It’s best to be honest upfront instead of getting caught in a lie later, potentially costing you the deal.
How much is my home worth?
There is no simple answer to this question. Real estate values are largely based on recent sales in your area. You do have some control over the value of your home through home improvement projects. Certain projects will add more value to your home than others. Here’s a good place to start. Your agent will examine your house and do a comparative market analysis (CMA) to find the right price. Home value is not something you can find on a website, it requires real estate knowledge and access to updated data. Public records give a small picture of a home’s value. Your agent their market knowledge are the key to your pricing.
What are seller concessions?
This term gets tossed around a lot during negotiations, especially after the buyers have had the property professionally inspected. Seller concessions are a credit from the seller to the buyer. For example: if a buyer’s inspection discovers the roof needs to be replaced, the seller can offer a concession of a specific amount instead of losing the deal or paying cash to replace a roof. Concessions decrease your bottom line but keep cash in your bank account. Your agent will advise on which concessions to accept and which to reject or counter.
Should I be home for showings?
No! It’s important when selling a home for you to be flexible and ready to the leave the home with very limited notice. Buyers are seeing homes in their free time, which may not be convenient to you. You should not be present in the home because buyers will feel uncomfortable talking openly about the home with you there. They may have questions for their agent they keep to themselves for fear of offending you. Your best chance of selling the house is without you in it.
If you have any other questions or are ready to get your home on the market, contact your real estate agent today!