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SELLERS GUIDE
10 Easy but Essential Steps for Home
Selling Success
by Rhiannon Williamson
They say that the whole process of selling up, buying
new and moving on is one of the most stressful series
of events any of us goes through in a lifetime: and yet
with careful planning, attention to detail and a clear
focus, the whole process can be relatively stress free.
While there will always be factors outside the control
of any home seller, those factors that fall within their
control sphere can proceed fluidly and smoothly when they
take the time to plan and think one step ahead.
By following these 10 easy but essential steps I can guarantee
you home selling success!
1. Get free valuations and priceless advice.
Real estate agents will give you a home valuation for
free because ultimately they hope you’ll engage their
services when it comes to selling your home. Therefore
use the experience of a handful of local and trusted agents
who are renowned for their selling success and invite
them to come and value your home. Then, ask them their
opinion on what if anything can be done to raise the value
of your property to the maximum.
Real estate agents spend their entire professional lives
examining properties, they know what attracts a buyer,
what turns a buyer away and what can and should be done
to a property to enable the seller to get maximum returns
from his property – request advice based on the benefit
of their experience. Most real estate agents will be happy
to give you any tips they feel are applicable to your
home because if you can increase the value of it, they
can raise the price of it and if they are asked to represent
you they will ultimately make more from the sale! It is
a symbiotic process!
This whole first step will arm you with two priceless
facts – firstly you will know how much money you
can work with when budgeting and planning for your next
home. Secondly you will have a fair idea of what action
you should and can take to ensure you get the maximum
price for your home thus allowing you to begin planning
the work that needs to be done.
2. Speak to your current mortgage lender.
You need to contact your current mortgage lender and ask
them what penalties and fees you will incur for early
repayment. Inform them that you are intending to sell
your home and they will give you an up to date statement
of the amount remaining and exactly how much selling up
is going to cost you in real terms.
3. Work out total selling, buying and moving costs.
To assist you with this step ask one of your valuation
real estate agents to give you a break down of all the
local fees, taxes and costs you will likely incur when
selling and buying. These will most likely include the
real estate agent’s fees, a lawyer’s fees, surveyor’s
costs, potential gain taxation and also consider factoring
in the percentage of any annual taxes or charges on your
home that you will have to pay.
Add to these expenses the costs you will incur when buying
a new home and remember to include any deposit, mortgage
arrangement fees, survey costs and insurances.
And last but not least, get a rough quotation for removal
costs which are easy to gauge based on the size of your
home and the distance you are likely to move.
4. Work out your budget.
By taking the original valuation sum given to you by the
real estate agent and then deducting all of the totals
from step 3 you will (hopefully) be left with a positive
number! This is your clear profit, this is what you can
then use towards your new home.
At this stage, if you have additional sums saved and you
wish to add them to the above to increase your purchasing
power you should do so. You will be left with an amount
you can use as a down payment on your new home.
5. Get a loan agreed in theory.
Now you have to approach a mortgage lender and work with
him to determine exactly how much you can comfortably
afford to borrow. He will take into account many factors
but these will include the amount you have as a down payment
and the amount you earn. Ultimately he will arm you with
a budget with which you can now work when searching for
your new home.
6. Begin searching for your new house.
Now you have a budget to work with you can begin the exciting
process of searching for a new home. It may seem dull
to have to get all the financial facts and figures in
place before heading off to find that dream house, but
by doing all the ground work first you will be less likely
to fall in love with an unsuitable, unaffordable home.
You will not have set yourself up for a fall; you will
once again have set yourself up for success.
7. Give your home a makeover!
Take the advice given to you by the real estate agents
and get to work with the repairs, renovations and heavy
work needed to bring your house up to the top of the market.
8. Find the best real estate agent.
Having already met and worked with real estate agents
for the valuation of your home get back in touch with
your preferred agent and ask them to revalue and then
market your home. If you are in doubt about which agent
to choose speak to any friends, family and colleagues
in your local area who have recently bought, sold or rented
property through an agent and ask for personal recommendations.
You need to feel comfortable with the agent you choose
to represent you, you need to make sure they will sell
your house as quickly, efficiently, honestly and effectively
as possible and that they are trust worthy to be left
to show viewers around your home.
Once you choose your agent go through their entire marketing
strategy for your home and make sure you are comfortable
with their approach and that they are going to do everything
required of them to assist you. Furthermore, ask them
to revalue your home based on the work you have done to
it and any market movements that have occurred in the
interim.
9. Remember - first impressions count!
Now the time has come for buyers to begin viewing your
home. You have to go over every single aspect of your
home with a very critical eye and consider what the potential
purchaser will make of every aspect. Their first impression
of your home will be as they look at it from the sidewalk,
ensure the outside of your home is as clean, tidy and
well presented as possible and then walk through every
room and the garden and look at it with fresh eyes. What
will a buyer’s eye be drawn to, the beautiful proportions
of the room or the dirty window and vase of dead flowers?
Because first impressions count so very much take the
time to consider every aspect of your home and then make
time to clean, polish and present your home in the very
best light possible.
10. Be as flexible as possible.
If you can be quick to react to a viewing request and
flexible when it comes to a contract completion date you
will be doing everything within your power to enable your
buyer. By remaining on top of the upkeep of your home
you should be able to say ‘yes’ to a viewing
request at the drop of a hat. And if you remain on top
of your home search and are at least mentally prepared
to move out swiftly – even if this means moving into
rental accommodation for a short period – you will
be doing absolutely everything within your power for home
selling success.
About the Author
Rhiannon Williamson is the publisher of http://www.shelteroffshore.com/
- for offshore and international real estate investors. |
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