The home sale process can be stressful, time-consuming, and – for some people – disappointing. As a first-time seller with little experience, you are likely to make many mistakes if not careful.
Here at Bost Redevelopment, we have taken the time to curate a list of essential tips to help you through your first house sale experience. These tips will save you from disappointment, help you sell for more, and ensure you get the best experience out of the home sale process.
Here are six tips to take note of when selling a home for the first time:
1. Know the best time to sell your house
Timing is everything in the home sale process. Selling a home for the first time, you must consider the best and worst time to put up a house for sale.
So, when is the best time to sell your house?
According to research, the spring and early summer account for 40 percent of annual home sales volume. This is the best time and season to sell your home. On the other hand, the worst time of the year to sell a home is in December – only a few buyers will be looking to buy a house because of the cold weather and holidays.
However, you should note that you can still get a good value for your home during winter with a reliable real estate company like Bost Redevelopment. As there would be fewer competing sellers, we can use our marketing skills to help you reach the active buyers seeking a home during this period.
2. Choose the most suitable home sale option
As a first-time home seller, you should know that not all selling methods will be right for you. You have to go through each option carefully to identify the most suitable way to sell your home.
Ask yourself, “Why am I selling this house?” Is it to avoid foreclosure? Or, you want to get the best value for your house? Your answer to that question determines the option that best suits you.
The best option for most sellers is listing their homes on the market. Having a certified real estate agency like Bost Redevelopment will broaden your chances of selling your home at a high value. We will use a combination of our marketing skills, technology, and connections to attract buyers.
Another option you could choose as a first-time home seller is selling your home to an investor. This option is usually taken by home sellers who need to sell fast or those who don’t want to go through the whole stress of the traditional home selling process.
The last option is selling the house by yourself. However, note that this option, known as For-Sale-By-Owner (FSBO), may be the best for you because the average agent-assisted home sale yields 40% more money.
3. Prepare for the sale of your house
We are emotionally attached to our home because we see it as a huge part of our lives. This attachment sometimes makes it difficult to make the necessary repairs or properly stage their house for sale. The best way to overcome this attachment problem is to move out before the sale of the house.
Moving out before your house’s sale has so many benefits besides helping you overcome the attachment. You get to plan and make the necessary repairs easily. Secondly, a vacant home is easier to clean, decorate, and stage.
Lastly, if you are a very private person, moving out to a family member’s place or a temporary residence will save you from having your privacy infringed by multiple buyers who will be walking around your home.
4. Do not expect buyers to pay the asking price
When selling a home for the first time, you should know that most buyers will negotiate regardless of the price you are selling your house for. Because you may need to “play ball” with your buyers, it would be wise to start with a lower or under-market listing price to encourage buyer competition to drive prices up.
However, expect your potential to try to negotiate the prices down after getting the property under contract.
Other factors may decide whether you get your asking price or not. These factors range from your agent’s marketing skills to having what buyers want and even how well you stage your house.
5. Respond to buyers on time
As a first-time home seller, you may have to consider various offers and choose the best for yourself. To avoid losing potential buyers, you should respond to offers and feedback on time. Always keep in mind that the home market can be very competitive. If you are not responding to buyers quickly, they will move on – and you do not want that to happen.
6. Be honest and fair with buyers
You should be honest with your buyers when selling your house. They have a right to know if any part of the home is not in good condition. Homes sold under false descriptions usually get sellers into serious legal trouble if buyers find out after buying the house. The fact that you have little experience selling a house may not save you from an angry buyer’s wrath.
To avoid this, you can have your house inspected before listing it or have us help you with the process to prevent surprises once the home is under contract.
If you have any issues with your home, you can fix the problem ahead of time or offer the buyer a credit to fix the problem. If those options would be financially strenuous for you, you should consider selling your home to an investor.
You should know that many states have disclosure rules. While many of these states require sellers to disclose known problems about their homes if buyers ask directly, others like Utah decree that sellers must voluntarily disclose specific issues.
Let Bost Redevelopment help you sell your home
The home sale process can be overwhelming, especially for someone selling a home for the first time. At Bost Redevelopment, we are experts at handling every home selling problem you may be facing. Let us guide you through your first home sale process and make the experience smooth for you.
We would use our marketing expertise to ensure you get the best buyer for your home at the maximum value possible. Want to talk more about your options? Please leave us a message below with your contact information. Remember that you get a 5-day cruise vacation for 2 if we successfully help you sell your house, so, what are you waiting for?