How to sell your own home
There’s a lot more involved in selling your own home than sticking a ‘for sale’ sign in the ground and crossing your fingers that a buyer will show up to purchase it. Here are some of the steps a realtor takes into account when selling your home.
1. Get the property ready for sale
This is something you should alwasy do to get top dollar, no exceptions. If you want potential buyers to leave with the best impression of your home, you should do the following:
- Repairs: You should fix anything that’s broken, from cracks in the walls to broken appliances, etc.
- Renovations: If you think a renovation will add value to your home (or is necessary) you should aim to have it done well before you put the house on the market after consulting with your Realtor. But you want to make sure it’s a renovation that will actually boost the property’s value, and that you’re not over capitalising.
- Cleaning: No one wants to buy a dilapidated, dirty house so clean the property from top to bottom.
- Painting: If you have the time and the property needs it, consider giving the place a fresh lick of paint.
2. Decide on the property’s value
A Realtor does the research on the property market thoroughly to get a realistic idea of your property’s value. We do this by looking at recent sales prices in your area of similar homes. but make sure you compare similar properties to your own.
To do this, look at:
- Overall space
- The number and size of rooms
- Street location and size of the land
- Age and quality of the building
- Quality of fixtures and fittings
3. Prepare the listing
Now that you’re ready to sell your home, a Realtor will then prepare to market your property to attract buyers. There are many many marketing techniques used to sell your home including using MLS and social media sites.
4. Negotiate with a buyer
Once you’ve found a buyer, they will offer you a price.
Be prepared to negotiate on price with the buyer (this will be easier if you go in with a clear idea of your home’s value and a firm minimum price in mind).
6. Get a lawyer to finalise the contract
Once you’ve found a buyer and settled on a price, it’s highly recommended that you enlist the help of a solicitor or conveyancer to organise the contract, says Mr Callaghan.
The conveyancer will draw up the contract and make sure everything is legal when settling the property and exchanging titles. Until the contract is signed, nothing is legally binding and can be negotiated. As the contract is the most crucial part of the process, it’s important to leave it up to the professionals.