How To Sell Your House for Top Dollar

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Sell Your House

The process of selling your house can be an emotional rollercoaster, and you might lose sight of your priorities. Your main goal when selling a home is to sell it for top dollar and find someone who will be a worthy future owner. Whether you are hiring a real estate agent or wondering how to sell a house by owner, you are probably confused.

If you can’t seem to think clearly and let your emotions cloud your judgment – don’t worry. Not only that you are not alone in that feeling, but we prepared this article to help you maneuver the selling process with ease and get a great price in the shortest amount of time. Before we start, make sure you are prepared for what is coming and not disappointed if things don’t end up exactly how you imagined. We should strive for perfection.

Know Your Target Audience

When selling a house, you need to ask yourself, ‘Who am I selling this house to?’ and start from there. Knowing your target audience will make everything else easier because you will learn how to price it accordingly, how to stage it attractively, and how to approach the marketing of the sale to reach your potential buyers.

Start with the location of your property. If you wish to sell your house in Glendale, you won’t use the same strategy as if you were selling a penthouse in Manhattan. Selling a home in the suburbs usually takes staging it for a family, so make sure you showcase space for kids and adults.

On the other hand, working single people or couples with kids usually buy downtown condos, and they typically look for events, restaurants, and places to do around the home. Considering your target buyer doesn’t mean that there will not be interested buyers outside that group. Still, it is better to set a marketing strategy than to try to appeal to everyone.

Do Your Homework: Pre-appraisal and Pre-inspections

Hiring professionals to appraise and inspect your property before you enter the selling process increases your chances of selling a house quickly and for a lot of money. It is like doing your homework regularly, so you don’t need to study that much for the exam.

Pre-inspection can show you all the negative things an interested buyer would see in detail. When a buyer considers the issues without you previously disclosing them – you might come off as dishonest and misleading. This feeling stays with the buyer, and they might give up on the sale.

Having a preview of the repairs that need to be done is great because you can either fix everything yourself, which improves your chances on the market, or fix only the major issues and leave the small stuff to the future owners. Either way, disclosing the issues is your moral obligation as a seller. Otherwise, they will find out about them through their own inspection and appraisal process.

Attractive Pricing

Pricing is everything in a home sale. Knowing how to price a house is not easy, especially if you are not familiar with the real estate market. The pre-appraisal process will help you, but only the comparative market analysis will show you the estimated value of your house. The CMA is a pricing tool that compares the prices of other listed properties similar to yours.

If you are wondering how to sell a house by owner when you don’t know how to do CMA – don’t worry; there are real estate professionals who can help you with that. Moreover, there are other things to do before setting a listing price.

You need to walk in prospective buyers’ shoes and spend a few days searching through the market in your area. Try to see what others are offering and what you think they lack. This will help you pinpoint the exact price of your house.

The buyers are creating their price range in a five or ten thousand dollar increments, so pricing it down from, say, $366,900 to $359,900 could open you up for a wider circle of buyers. These increments are called price points, and they are the buyer’s budget criteria. Another trick in the book of pricing is called value range marketing, referring to listing an acceptable range of prices opened for negotiation.

Staging a House Appropriately

Staging a house is the second most important step towards earning a top buck on your home’s sale. The first thing you need to do is decluttering, which will be helpful both for easier staging as well as for your packing and moving. Staging a home is about stripping it of identity and de-personifying it, so other people can visualize themselves in it.

Color those bright walls into something more neutral and create more space for walking. The air and light need to flow through your house, which should be squeaky clean so the potential buyers see it in its best possible state. Furthermore, it is best to limit the number of personal photos and authentic belongings, so others can fill in the blanks.

Don’t Forget About Curb Appeal

Do you know the saying ‘’don’t judge a book by its covers’’? Well, the same does not apply to selling a house. You need to fix up the exterior to make it appealing for incomers. Maw the loan, cut off the dried three, fix the porch lamp, and put a fresh coat of paint on the walls. Fixing up the outside of the house can cost you close to nothing but adds a lot to the value.

Offer Incentives to Buyers and Selling Agents

A buyer might put you in their top three, and that is when you offer them some incentive to nudge them in your direction. Offer to buy the interest down on their loan, pay for the inspections and repairs, or pay for some of their bills a few months in advance. These tricks could seem like a drag if you are selling in a busy seller’s market, but they come in handy when the inventory is high and there are fewer buyers.

Bonuses for real estate agents are not an obligatory practice, especially if you were to put your house on sale by the owner. However, offering to pay a bonus for a job well done to a selling agent might motivate them to show your home more often to potential buyers. This will increase your chances of selling it for a top dollar.

Selling Under Special Circumstances

Selling a house under special circumstances often means that you need to sell it fast, but it doesn’t have to mean that you shouldn’t sell it for a top dollar. There are local companies that will buy your property for a price that’s more than fair, but you need to be careful who you’re working with. Appraise the house yourself and then ask for an offer – if the two prices conflict too much, we advise against doing business with that company.

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