Marketing and Selling Tips for Your House
Think about placing your house on the market as far in advance as possible before purchasing another house so you do not wind up with two mortgages and the additional expense of a bridge loan.
Find out for what price the houses in the neighborhood are selling -- your Realtor will help you determine this. Be careful not to price your house too high. Study the most recent comparative sales figures.
Don't antagonize the buyer. Often they have to sell their home first before they can buy yours.
Let your agent do the negotiating with buyers and keep your cool. Keep your eye on the goal which is to sell your home netting the highest possible price. Know that buyers will want to pay less, want price breaks and have you pay for real and imagined fix-ups. If necessary, be willing to compromise.
Be willing to pay full commission -- Realtors are professionals just as attorneys or accountants -- a lower commission is a disincentive to the agent and marketing efforts will will suffer. If a house is hard to sell, consider offering a higher commission incentive to the buyers agent.
Consider seller financing. You get tax breaks. Your risk is the same risk as any lender faces, namely, is the borrower a good credit risk?
Is there a financing contingency in your offer for sale, that is, is the sale dependent on the buyers' ability to obtain a loan commitment from a lender? Know that the buyer can forfeit his/her deposit by backing out of the deal for reasons not detailed in the contract.
Is there an inspection contingency in the offer, which lets the buyer hire a professional to look over your property?
The best time to sell your house is in the Spring beginning in February and lasting through May and June. Housing sales struggle in summer but pick up again in the fall, lasting till November.
If it is a sellers market where there is more demand than supply, you will not have to consider too many contingencies. If, on the other hand, it is a buyers market, where there are few buyers, be flexible and work with the buyer. The contingencies that are written into the contract can be negotiated further at the negotiation phase.
Don't show the basement last. The last impression, many times, leaves the same mark as the first impression. So leave 'em smiling!
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