getting your ducks in a row to encourage top dollar
steps to take to ensure a top quality home sale
YOU HAVE ONE CHANCE TO MAKE A
FIRST IMPRESSION and the time to accomplish this daunting task is before you list your property for sale. After that, buyers rule the roost. To maximize your home’s value follow these four steps to success.
get inspections
One of the first steps to take is to schedule a house, pest and sewer inspection once you decide to move. Ideally, get these before you start any work on the property to keep the process more efficient and cost effective. Waiting until after you accept an offer leaves buyers in control. They will determine how much to reduce their offer to cover the repairs, often inflating actual expenses. Awaiting bids and negotiating further delays the sale. Obtaining inspections early, with follow-up inspections after repairs, minimizes risk of major surprises when buyers get their own inspections. You maintain control of your equity, for it is more difficult to reduce a purchase price on a home in great condition.
fix the problems
to age (water heater, furnace, roof) as long as the purchase price is adjusted accordingly. Leaving too many repairs unresolved reflects lack of maintenance and turns buyers away. Since each property is different, seek expert advice.
stay ahead of objections
Typically sellers will not be able to fix all of the items identified in the inspection. Safety always takes precedence. Remember that addressing repairs and maintenance is the seller’s responsibility. Budget will guide your decisions, since you may likely need to tackle other improvements to make the house more marketable. Most buyers will bypass a house that needs updates and does not show well, but are often willing (and some even prefer) to handle one or two items of functional maintenance related
You can still stay ahead of the curve for projects you cannot afford and that do not make the priority list. For example, perhaps you opt to make the house itself more appealing to buyers instead of replacing the roof. For any major repair that is not corrected, collect two to three bids from reputable resources.Your Realtor® will adjust the listing price to accommodate the needed repairs and know how to market this information to buyers. When buyers try to overestimate the cost of these repairs, you already have the actual costs in hand that correlate with your asking price.
offer a home warranty
If your home is properly prepared, adding a home warranty is the icing on the cake, adding extra value to the sale.You now have identified and corrected obstacles, stayed ahead of objections and offered a bonus. When buyers are shopping, which house are they going to purchase, the one with questions, problems, work and delays or the move-in ready property with added insurance? The more work you do before you place your home on the market, the more you maintain control of your equity, and the smoother the transaction towards a fast and profitable sale.