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Before Selling Your Home: Five Important Steps
Before Selling Your Home - 5 Important Steps Before Selling
Getting Ready to Sell Your Home
By Elizabeth Weintraub, About.com Guide
Before you start making repairs, before selling your home or marking dates on your calendar for an open house, it's smart to prepare a home selling plan. Of course, you want top dollar, but you could make costly home selling mistakes along the way if your enthusiasm for quickly selling causes you to run out and stick a for sale sign in the yard before you're fully prepared to sell.
Motivation for Selling
Explore your reasons for selling. Everybody has a reason to sell. If you aren't truly motivated or committed to selling -- if it just struck you one morning that you should move to the other side of town and you haven't completely thought through the process -- you could be setting yourself up for disappointment.
Buying a New Home
Most people who sell do so to buy another home. Put together a list of neighborhoods where you may want to live and drive them. Go to open houses. Check out pricing between newer homes vs. older homes. Weigh your options. You might find you prefer to stay where you are.
Call Real Estate Agents
Interview real estate agents, talk to at least three. Ask each listing agent to give you a marketing plan that explains what they will do to market your home. In addition, ask the agents to prepare a comparative market analysis for you and ask each for advice about:
Find a Lender
First, call your existing lender to find out exactly how much you need to pay off. You should order a beneficiary statement. Then check out new financing offers from your own lending institutions and credit unions. Ask for a Good Faith Estimate - GFE. Compare rates and fees. Also, ask for referrals to mortgage brokers from agents. Often, mortgage brokers have more flexibility to discount rates and are more competitive.
Sell Before Buying
The moment your home goes on the market, you might be tempted to bounce around online looking at homes on the web. Next thing you know, you'll want to make an appointment to view a few homes. Don't get carried away by virtual tours and beautiful photographs of your dream home. It is almost always more profitable to sell before buying.
Getting Ready to Sell Your Home
By Elizabeth Weintraub, About.com Guide
Before you start making repairs, before selling your home or marking dates on your calendar for an open house, it's smart to prepare a home selling plan. Of course, you want top dollar, but you could make costly home selling mistakes along the way if your enthusiasm for quickly selling causes you to run out and stick a for sale sign in the yard before you're fully prepared to sell.
Motivation for Selling
Explore your reasons for selling. Everybody has a reason to sell. If you aren't truly motivated or committed to selling -- if it just struck you one morning that you should move to the other side of town and you haven't completely thought through the process -- you could be setting yourself up for disappointment.
Buying a New Home
Most people who sell do so to buy another home. Put together a list of neighborhoods where you may want to live and drive them. Go to open houses. Check out pricing between newer homes vs. older homes. Weigh your options. You might find you prefer to stay where you are.
Call Real Estate Agents
Interview real estate agents, talk to at least three. Ask each listing agent to give you a marketing plan that explains what they will do to market your home. In addition, ask the agents to prepare a comparative market analysis for you and ask each for advice about:
- Preparing Your Home for Sale
Compare suggestions and consider accepting the most sound advice. Generally, you will want to move out bulky and excess furniture. - Repairs Before Selling
Not all resale repairs will pay off. You don't want to spend a lot of money making improvements but you do want to repair obvious maintenance issues, if any have been neglected. - Home Staging
You can hire a professional stager, ask your agent to help stage or stage it yourself. You will get more for your home if it is staged. - Home Pricing
Do not select an agent based on suggested sales price. Some will overbid each other to get the listing. But do not overprice. Homes that are overpriced often sell for less than market value. - Net Profits from Selling
I always prepare two net sheets for sellers, each with a low price and a high price. This way, sellers can be prepared for the worst and hope for the best. If the lowest net price will let you buy the home you want, it's time to find financing.
Find a Lender
First, call your existing lender to find out exactly how much you need to pay off. You should order a beneficiary statement. Then check out new financing offers from your own lending institutions and credit unions. Ask for a Good Faith Estimate - GFE. Compare rates and fees. Also, ask for referrals to mortgage brokers from agents. Often, mortgage brokers have more flexibility to discount rates and are more competitive.
- Get a loan preapproval letter, so you know how much of a mortgage you will qualify to obtain.
- You don't need to apply for the maximum mortgage, and a lower mortgage payment might make you more comfortable in the long run.
- Compare mortgage loan types and choose wisely.
Sell Before Buying
The moment your home goes on the market, you might be tempted to bounce around online looking at homes on the web. Next thing you know, you'll want to make an appointment to view a few homes. Don't get carried away by virtual tours and beautiful photographs of your dream home. It is almost always more profitable to sell before buying.
Thinking About Selling Your Home?
Thinking About Selling Your Home?
By: Donald Lee
Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World. Then again, these days it also makes perfect economic sense. Experts estimate that all of the homes in the United States alone are worth a combined $14 trillion. That goes a long way to explain why a housing boom has been sweeping the globe.
Where there is a boom, though, there may be a bust. Read any headline from your local newspaper, and you'll see headlines such as "Bye-Bye, Housing Boom" to "Housing Boom is Leveling Off." Some economic forecasters predict a bubble that may be about to burst. They make you wonder: am I missing the boat?
Whether you're looking to cash in on this real estate bubble before it pops-or simply wanting to move to a bigger home or move across the country-selling your home can be more a nightmare than a dream. Not only do you have to find and trust a real estate agent. You need to prep your home for open houses. You need to haggle with prospective buyers. Not to mention, you have to worry about the moving and selling of all of your valuables.
It's almost enough to make you want to live in one home for the rest of your life-just as folks did in your grandparents' day. Then again, your home is worth a percentage of that $14 trillion. Don't you want to see just how much?
As hectic and horrible as selling a home may seem, it really isn't so bad if you break it down into a few simple rules. If you don't believe us, read the rules for yourself.
Fuss over the facade. Your home's future owners do not want to worry about repairs and renovations as soon as they move in. So make certain they don't. Be sure to have your home immaculately clean before you invite prospective buyers over. Redecorate if your interior is outdated. And invest in minor renovations if necessary. You'd be surprised what a coat of paint can do.
Focus on the fine details. Prospective buyers will leave no stone unturned when they visit your home. They will test every light switch, run every faucet, and lift up every toilet seat. Everything-and we mean everything-should be in working order before your open house.
Double check for blown out light bulbs and leaky faucets. Scrub the bathroom and clean up any ring around the bowl, tub scum, and any other nasty surprise.
Don't settle for maybes on safety. Ensure that there are no safety hazards anywhere on your property. Something as small as uncovered electrical sockets or as large as an unfenced pool can scare off buyers, especially parents of small children.
Create a soothing selling atmosphere. Imagine the last time you visited a bed and breakfast. Your home should be as welcoming and accommodating as that. One easy way to accomplish this is by brightening up the place. Turn on all your lights for your visitors. Plus, fluff up your bedroom. After all, most people want the bedroom to be the most comfortable spot in the house. Make sure it is-at least when buyers are around.
Clear the joint. Along with the last rule, there is the standard real estate practice of vacating the premises when buyers come for tours. This is done for good reason. Buyers are there to evaluate your home, not meet your sisters, sons, cousins, and cats. So send your family to the mall for a day of shopping, or to the park for a picnic.
Cut the clutter. All of your stuff can get in the way, too. That's why it's important to start packing and storing your personal belongings as soon as you know you're going to move. An empty house is a cleaner looking house is a more attractive house. You don't want your perspective buyer opening a closet and having a bowling ball fall on their head, do you?
Make a killing on said clutter. One option is to simply move your personal items to your new home and create instant clutter there. That's the way of the pack rat. Or, you could sell what you no longer need and turn a quick profit. That's the way of the fat cat.
If you choose wisely-the latter option-be sure not to hold your garage sale on the same days as your open houses. Neighbors in their undershirts and jeans on your front lawn do make for a great sales ploy. Instead, it makes you look desperate and could hurt you come negotiations. Schedule your yard sale on separate days.
Better yet, sell your goods online. Classified Web sites allow you to negotiate with potential buyers, get the best rates for your stuff, and ship it off at your own convenience. And it's all accomplished on your own time, inside your own home (where you can wear your undershirt and jeans and no one will care).
Take a deep breath. Lastly, never let the home-selling experience overwhelm you. Sure, there are a load of responsibilities to take care of. But that is what your real estate agent is there for. They handle all of the grunt work. They do all of the hard talking with the buyer. They make all the follow-up calls. And they showcase your home for you. Your job is just to smile, be polite, and answer the buyer's questions if they come up.
Author Bio
Donald Lee is the public relations manager for Buysellcommunity.com. Buysellcommunity provides free classified listing services for individuals and businesses to market their products and services online. For global and localized classifieds, please visit
http://www.buysellcommunity.com - Free Buy & Sell Classifieds
Article Source: http://www.ArticleGeek.com - Free Website Content
By: Donald Lee
Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World. Then again, these days it also makes perfect economic sense. Experts estimate that all of the homes in the United States alone are worth a combined $14 trillion. That goes a long way to explain why a housing boom has been sweeping the globe.
Where there is a boom, though, there may be a bust. Read any headline from your local newspaper, and you'll see headlines such as "Bye-Bye, Housing Boom" to "Housing Boom is Leveling Off." Some economic forecasters predict a bubble that may be about to burst. They make you wonder: am I missing the boat?
Whether you're looking to cash in on this real estate bubble before it pops-or simply wanting to move to a bigger home or move across the country-selling your home can be more a nightmare than a dream. Not only do you have to find and trust a real estate agent. You need to prep your home for open houses. You need to haggle with prospective buyers. Not to mention, you have to worry about the moving and selling of all of your valuables.
It's almost enough to make you want to live in one home for the rest of your life-just as folks did in your grandparents' day. Then again, your home is worth a percentage of that $14 trillion. Don't you want to see just how much?
As hectic and horrible as selling a home may seem, it really isn't so bad if you break it down into a few simple rules. If you don't believe us, read the rules for yourself.
Fuss over the facade. Your home's future owners do not want to worry about repairs and renovations as soon as they move in. So make certain they don't. Be sure to have your home immaculately clean before you invite prospective buyers over. Redecorate if your interior is outdated. And invest in minor renovations if necessary. You'd be surprised what a coat of paint can do.
Focus on the fine details. Prospective buyers will leave no stone unturned when they visit your home. They will test every light switch, run every faucet, and lift up every toilet seat. Everything-and we mean everything-should be in working order before your open house.
Double check for blown out light bulbs and leaky faucets. Scrub the bathroom and clean up any ring around the bowl, tub scum, and any other nasty surprise.
Don't settle for maybes on safety. Ensure that there are no safety hazards anywhere on your property. Something as small as uncovered electrical sockets or as large as an unfenced pool can scare off buyers, especially parents of small children.
Create a soothing selling atmosphere. Imagine the last time you visited a bed and breakfast. Your home should be as welcoming and accommodating as that. One easy way to accomplish this is by brightening up the place. Turn on all your lights for your visitors. Plus, fluff up your bedroom. After all, most people want the bedroom to be the most comfortable spot in the house. Make sure it is-at least when buyers are around.
Clear the joint. Along with the last rule, there is the standard real estate practice of vacating the premises when buyers come for tours. This is done for good reason. Buyers are there to evaluate your home, not meet your sisters, sons, cousins, and cats. So send your family to the mall for a day of shopping, or to the park for a picnic.
Cut the clutter. All of your stuff can get in the way, too. That's why it's important to start packing and storing your personal belongings as soon as you know you're going to move. An empty house is a cleaner looking house is a more attractive house. You don't want your perspective buyer opening a closet and having a bowling ball fall on their head, do you?
Make a killing on said clutter. One option is to simply move your personal items to your new home and create instant clutter there. That's the way of the pack rat. Or, you could sell what you no longer need and turn a quick profit. That's the way of the fat cat.
If you choose wisely-the latter option-be sure not to hold your garage sale on the same days as your open houses. Neighbors in their undershirts and jeans on your front lawn do make for a great sales ploy. Instead, it makes you look desperate and could hurt you come negotiations. Schedule your yard sale on separate days.
Better yet, sell your goods online. Classified Web sites allow you to negotiate with potential buyers, get the best rates for your stuff, and ship it off at your own convenience. And it's all accomplished on your own time, inside your own home (where you can wear your undershirt and jeans and no one will care).
Take a deep breath. Lastly, never let the home-selling experience overwhelm you. Sure, there are a load of responsibilities to take care of. But that is what your real estate agent is there for. They handle all of the grunt work. They do all of the hard talking with the buyer. They make all the follow-up calls. And they showcase your home for you. Your job is just to smile, be polite, and answer the buyer's questions if they come up.
Author Bio
Donald Lee is the public relations manager for Buysellcommunity.com. Buysellcommunity provides free classified listing services for individuals and businesses to market their products and services online. For global and localized classifieds, please visit
http://www.buysellcommunity.com - Free Buy & Sell Classifieds
Article Source: http://www.ArticleGeek.com - Free Website Content
Home Staging ~ an Essential Merchandising Tool for Resale
Home Staging - an Essential Merchandising Tool for Resale
By: Sveta Melchuk
If you are wondering what Home Staging (or House Fluffing) is all about, here is a definition for you: MSN Encarta dictionary defines Home Staging as the act of "beautifying a home for sale: cleaning, repairing and updating the decor and furnishings of an older home to make it more attractive when shown to potential buyers." Actually, I believe that ANY home can use some staging before being put on the market. Remember, the way we live in a home and the way we want to sell a property are two completely different things. When we sell a property, there is no room for emotions - after all, it's probably our biggest financial investment and, so, we want the biggest possible return on it!
The concept dates from 1970s, when a California realtor and decorator noticed that the properties she took the time to "stage" sold faster and for more money than the average. Today, it's an important marketing/merchandizing tool in the USA (and spreading to Canada from the West) for the realtors and the home owners alike and it's especially important in a slow market, where you need every advantage over your competition. TV shows, such as Designed to Sell and Flip that House demonstrate that a bit of effort and a small investment can transform a property and make a BIG difference at sale time!
The logic is strikingly simple: when you decide to sell your used car, wouldn't you clean, wash and fix it up before reselling it? You should do the same for your house, which is probably your biggest investment and presents an opportunity for a biggest return.
First impressions count for a lot, especially today, when most buyers pre-select the properties they are interested in on Internet. If your photos don't show your house at its best, you are probably missing out on dozens of potential buyers. The same is true for the visitors - when they come, make them feel "at home", create that first impression which will make them fall for YOUR house.
Statistics vary from marketplace to marketplace but, on average, a staged home can sell 30%-50% faster and for 2%-10% more money than a comparable unstaged home. So, a few hundred dollars invested can bring you back thousands! And a home staging consultation costs a lot less than a first price reduction on the property.
A professional staging consultant looks at your property with a buyer's eye and will recommend some easy and inexpensive solutions to enhance its value - such as decluttering, depersonalizing, and reorganizing your furniture and artwork.
The end result: your house "shows" better than its competition and it sell faster and for more money!
Author Bio
This article is written by Sveta Melchuk, Founder of Home Staging Montreal, a Montreal firm that has been working with sellers and realtors since 2005 to enhance the properties for sale.You can visit www.home-staging-montreal.com for more information, tips and advice on Home Staging and Interior redesign.
Article Source: http://www.ArticleGeek.com - Free Website Content
By: Sveta Melchuk
If you are wondering what Home Staging (or House Fluffing) is all about, here is a definition for you: MSN Encarta dictionary defines Home Staging as the act of "beautifying a home for sale: cleaning, repairing and updating the decor and furnishings of an older home to make it more attractive when shown to potential buyers." Actually, I believe that ANY home can use some staging before being put on the market. Remember, the way we live in a home and the way we want to sell a property are two completely different things. When we sell a property, there is no room for emotions - after all, it's probably our biggest financial investment and, so, we want the biggest possible return on it!
The concept dates from 1970s, when a California realtor and decorator noticed that the properties she took the time to "stage" sold faster and for more money than the average. Today, it's an important marketing/merchandizing tool in the USA (and spreading to Canada from the West) for the realtors and the home owners alike and it's especially important in a slow market, where you need every advantage over your competition. TV shows, such as Designed to Sell and Flip that House demonstrate that a bit of effort and a small investment can transform a property and make a BIG difference at sale time!
The logic is strikingly simple: when you decide to sell your used car, wouldn't you clean, wash and fix it up before reselling it? You should do the same for your house, which is probably your biggest investment and presents an opportunity for a biggest return.
First impressions count for a lot, especially today, when most buyers pre-select the properties they are interested in on Internet. If your photos don't show your house at its best, you are probably missing out on dozens of potential buyers. The same is true for the visitors - when they come, make them feel "at home", create that first impression which will make them fall for YOUR house.
Statistics vary from marketplace to marketplace but, on average, a staged home can sell 30%-50% faster and for 2%-10% more money than a comparable unstaged home. So, a few hundred dollars invested can bring you back thousands! And a home staging consultation costs a lot less than a first price reduction on the property.
A professional staging consultant looks at your property with a buyer's eye and will recommend some easy and inexpensive solutions to enhance its value - such as decluttering, depersonalizing, and reorganizing your furniture and artwork.
The end result: your house "shows" better than its competition and it sell faster and for more money!
Author Bio
This article is written by Sveta Melchuk, Founder of Home Staging Montreal, a Montreal firm that has been working with sellers and realtors since 2005 to enhance the properties for sale.You can visit www.home-staging-montreal.com for more information, tips and advice on Home Staging and Interior redesign.
Article Source: http://www.ArticleGeek.com - Free Website Content
How to Improve Curb Appeal
How to Improve Curb Appeal
Home Selling Advice to Help You Attract Potential Buyers
A large percentage of home buyers decide whether or not to look inside a house or take it seriously based on its curb appeal—the view they see when they drive by or arrive for a showing. You can help make sure they want to come inside your house by spending some time working on the its exterior appearance.
It's difficult to look at our own house in the same way that potential home buyers do, because when we become accustomed to the way something looks and functions, we can't see its faults. Decide right now to stop thinking of the property as a home. It's a house—a commodity you want to sell for the highest dollar possible.
Curb Appeal Exercise
The next time you come home, stop across the street or far enough down the driveway to get a good view of the house and its surroundings.
Take photos of the home's exterior. If you have a digital camera, view the color versions first, then remove the color and look at it in black and white, because it's easier to see problems when color isn't around to affect our senses.
Make a list of the problem areas you discovered. Tackle clean up and repair chores first, then put some time into projects that make the grounds more attractive.
Don't Forget the Rear View
Buyers doing a drive by will try their best to see your back yard. If it's visible from another street or from someone's driveway, include it in your curb appeal efforts.
Evening Curb Appeal
Do your curb appeal exercise again at dusk, because it isn't unusual for potential buyers to drive by houses in the evening.
One quick way to improve evening curb appeal is with lighting:
Landscaping Decisions
There are times that adding elements to your landscaping can improve curb appeal, but there are other times when removing something is even more effective.
For example, we had a listing for a large brick house with large white columns. Tall evergreens, planted in front of each column, had grown taller than the roof. They obscured the columns and windows and made it difficult to see the front of the house.
We suggested that the owner remove them. She trimmed them back, but it didn't do the trick—they were unattractive and still kept potential buyers from seeing the true character of the house.
I sold the house to a couple who could see past the trees. One of their first tasks after closing was to yank them out of the ground, instantly boosting the home's curb appeal.
Most buyers cannot visualize changes, and often won't take a second look at a house if the first look doesn't appeal to them. Home buyers who can visualize changes, and are prepared to make them, expect you to reduce the price of the house to compensate for the work they plan to do.
A Few Curb Appeal Tips
Home Selling Advice to Help You Attract Potential Buyers
A large percentage of home buyers decide whether or not to look inside a house or take it seriously based on its curb appeal—the view they see when they drive by or arrive for a showing. You can help make sure they want to come inside your house by spending some time working on the its exterior appearance.
It's difficult to look at our own house in the same way that potential home buyers do, because when we become accustomed to the way something looks and functions, we can't see its faults. Decide right now to stop thinking of the property as a home. It's a house—a commodity you want to sell for the highest dollar possible.
Curb Appeal Exercise
The next time you come home, stop across the street or far enough down the driveway to get a good view of the house and its surroundings.
- What is your first impression of the house and yard area?
- What are the best exterior features of the house or lot? How can you enhance them?
- What are the worst exterior features of the house or lot? How can you minimize or improve them?
Take photos of the home's exterior. If you have a digital camera, view the color versions first, then remove the color and look at it in black and white, because it's easier to see problems when color isn't around to affect our senses.
Make a list of the problem areas you discovered. Tackle clean up and repair chores first, then put some time into projects that make the grounds more attractive.
- Kill mold and mildew on the house, sidewalks, roof, or driveway.
- Stow away unnecessary garden implements and tools.
- Clean windows and gutters.
- Pressure wash dirty siding and dingy decks.
- Edge sidewalks and remove vegetation growing between concrete or bricks.
- Mow the lawn. Get rid of weeds.
- Rake and dispose of leaves, even if your lot is wooded.
- Trim tree limbs that are near or touching the home's roof.
Don't Forget the Rear View
Buyers doing a drive by will try their best to see your back yard. If it's visible from another street or from someone's driveway, include it in your curb appeal efforts.
Evening Curb Appeal
Do your curb appeal exercise again at dusk, because it isn't unusual for potential buyers to drive by houses in the evening.
One quick way to improve evening curb appeal is with lighting:
- String low voltage lighting along your driveway, sidewalks, and near important landscaping elements.
- Add a decorative street lamp or an attractive light fixture to a front porch.
- Make sure lighting that's visible through front doors and windows enhances the home's appearance.
Landscaping Decisions
There are times that adding elements to your landscaping can improve curb appeal, but there are other times when removing something is even more effective.
For example, we had a listing for a large brick house with large white columns. Tall evergreens, planted in front of each column, had grown taller than the roof. They obscured the columns and windows and made it difficult to see the front of the house.
We suggested that the owner remove them. She trimmed them back, but it didn't do the trick—they were unattractive and still kept potential buyers from seeing the true character of the house.
I sold the house to a couple who could see past the trees. One of their first tasks after closing was to yank them out of the ground, instantly boosting the home's curb appeal.
Most buyers cannot visualize changes, and often won't take a second look at a house if the first look doesn't appeal to them. Home buyers who can visualize changes, and are prepared to make them, expect you to reduce the price of the house to compensate for the work they plan to do.
A Few Curb Appeal Tips
- If you can budget it, a fresh paint job does wonders for a dingy house. Drive around your town to find color schemes that are appealing.
- Install a more attractive front door, maybe something with leaded glass inserts.
- If you can't justify the cost of a new door, consider replacing plain doorknob hardware with something more attractive.
- If new hardware is beyond your budget, repaint or stain the door and polish the hardware?
