It’s no secret that San Diego’s coastal communities are some of the best places to live in the country. With buyers regularly flocking to the region in hopes of finding their dream homes, plenty of opportunities present itself for home sellers like you. Follow this simple guide for a successful transaction.
- Work with a Realtor.
One common misconception in home selling is that listings are sold by their respective listing agents. This is not often the case. Most of the time (a whopping 93 percent), listings are sold by Realtors who are not the property’s listing agents.
This is why finding yourself a local Realtor associated or affiliated by an established real estate company is your first step in selling your property. It’s one of the best ways to get your home to generate buyer interest. With the word around, you’ll be able to market your listing appropriately and possibly attract multiple offers.
- Make necessary repairs and/or upgrades.
Before you sell your property, make sure it’s in great condition. That means repairing what needs to be repaired, from minute details such as bathroom fixtures to issues that question the property’s structural integrity. This will help you avert problems further down the selling process.
If you want to boost your property value (which helps determine your home’s asking price), making upgrades is a move you should consider. Kitchen and bathroom renovations promise significant ROI and can effectively increase the value of your home when done right. If your home has an unfinished basement, have it finished– it’s an added feature that can also boost your asking price.
Another home improvement project to do before selling your home is to improve its curb appeal. Aside from increasing the home value, it will send the message that the home is well-maintained and looked after.
- Use a price range.
Using a price range for your property helps you attract home buyers into making an offer and sell your home for more. Let’s say your listing is valued at $500,000. Instead of keeping that as its final price, set a range of $499,000 to $549,000, which represents a 10 percent range. By presenting a lower range, you’re opening the doors to more home buyers, which will result to multiple offers.
With multiple offers, your Realtor will ask the buyers if they want to submit an offer at a higher price. The more enthusiastic ones do, and as a seller, you’ll get to sell your home for much more than its estimated market price.
- Accept an offer and negotiate price and terms.
Carefully examine offers and accept the one that best meets your terms. Once you accept an offer, an escrow opens. Negotiation starts for both the final price of the home as well as terms and inspection contingencies. When it comes to the latter, you might be obliged as a seller to repair any issues found after inspection or offer a price reduction to cover repairs. Other contingencies that may be covered (depending on the situation) in this stage also include financing and appraisal contingencies.
It might be helpful to keep a timeframe to make sure you tick off everything you need to fulfill as a responsible seller. Be patient, and let your Realtor do most of the negotiating. Remember, your Realtor represents your best interests and wants you to make a great sale.
- Satisfy contingencies and close escrow.
Once contingencies are met and deemed satisfied by all parties involved in the sale, the escrow will close. The whole transaction will be completed in the presence of a neutral third party. Review terms and forms, go over last minute details, and hand over the key and title to your buyer’s new home.
Present the property in its best state.
Once repairs and/or renovations are finished, don’t forget to dress your house for the sale. Home staging has proven to be especially helpful you want to make a fast sale. Speaking from experience, staged home tend to sell faster and for more compared to vacant homes.
If vacant, call in the expertise of a professional home stager to make the property feel like a potential home to your buyers. If the house is currently occupied, you can have the home stager present your home in its best light using your own furnishings. Simply take care to de-clutter and depersonalize the rooms in order to let your buyers imagine the property as their own.
The end result should be a warm and inviting home which potential home buyers can envision as their own.
Selling homes in San Diego is my expertise.
For more information about home selling in the area, contact me today at 619-985-5443 or email@example.com. rcwellesjr(at)gmail(dotted)com