Once you’ve made the decision to sell and you’ve discussed the current market conditions with a real estate agent, then you’re ready to prepare for market. What repairs or renovations should you be doing in order to get the most for your money? How should you clean and stage your home to highlight its special features? There are a few fail-proof tips for the prepping process. Here’s what you can expect:
While you should consider tending to every part of your home, there are a few short cuts to cleaning up and cleaning out your home when you’re ready for sale. Storage is always an attractive feature to home buyers so hiding your stuff in closets is not going to be a good idea. A potential buyer is going to want to explore every inch of the home. While your home is on the market, it would be best to downsize to minimal possessions. Consider if renting a storage unit would be a good fit for you.
While it is important to make the home look spotless to a potential buyer, the home should not look empty. A few appropriate pieces of furniture to give a frame of reference to the size of a room, is an important element to help someone picture themselves living in the space. It is key to keep the staging as de-personalized for sale as possible. Only display universal or essential items.
When you consider how much faster you can sell your home when you hire a professional home stager, the expense can make sense. The stager will be able to implement all their nifty tricks in your home and usually will have a professional photographer to assist in presenting your home beautifully. This can also be helpful for marketing the home. A real estate agent will hire one on your behalf as well.
What repairs should be completed prior to selling a home? It’s never a bad idea to get a pre-inspection done. Especially if you have lived in your home a long time and haven’t always kept up with the repairs. The buyer will typically have the house inspected again during the option period, but at least you won’t be caught off guard.
There are 2 types of repairs you should take on when preparing to sale: small ones and really, really big ones. You should consider how much of the sale price the work involved is. Somewhere around 10-20% of the home’s value is where you might consider leaving the repair for the next owner.
It’s also a good idea to go ahead and get repairs done that are less than 5% of the price of the home before an inspector finds it. There are some repairs big enough to prohibit a sale, like foundation or the roof.
Also, never underestimate landscaping. First impressions are important and regardless of the size of the yard, it’s good to learn how to boost your curb appeal to sell your home.
Don’t forget the Details, remember Insurance
“Possession” of a property, in real estate terms, is when a previous owner moves out, and the new owner moves in. A buyer usually wants to take possession as soon as possible and there is always a laundry list of things to work out between the seller and the buyer, including switching all the utilities over. Agents can suggest a utility concierge such as https://utilityconcierge.com
At times, some sellers may want to vacate the property before the closing is finished. In this situation, it’s important to check with your insurance that your policy doesn’t have any provisions about a vacant home. This should help ensure that you’re not hit with some surprising penalties in the end. While you’re at it, it’s a great idea to insure any big-ticket items you own and will be moving. Be sure to have it properly appraised so the insurance coverage is adequate. In Dallas, one of my preferred insurance providers is Rani Alfers.
Sort Out Your Own Mortgage
The paperwork involved in the home buying and selling process is intense, for both parties. Make sure you’re prepared with any paperwork if you have recently refinanced the home. Be sure to openly communicate with your mortgage company if you are buying and selling at the same time. Sometimes, you may be able to borrow against the money you will receive at the close of your sale.
Documents in Hand before you List
To be properly prepared and save loads of time later, it helps to have these documents in hand before you even list: the title, the deed, the land survey for your property, and the appraisal. The title and the deed are what make you the legal owner and the land survey legally determines the property’s size. If you are still paying a mortgage, the mortgage company will have these documents. If you have paid your mortgage off, then they will have sent them to you. Your county records office usually has copies as well.
Having a Contingency Plan
Along the home-selling journey anything can happen and its always smart to have a Plan B, C, and a Plan D wouldn’t hurt. If you are selling and you sell much faster than expected, it’s smart to have a plan on where to stay until your new home is ready.
There are times when a buyer is not moving into the property immediately and are willing to rent to the seller as part of the purchase agreement. This can be really helpful. If you don’t have a storage unit to store your possessions while making the move, it’s a good idea to get one. Some sellers purchase a storage unit as soon as they start cleaning house. A reliable moving company in the Dallas area that also offers storage is All My Sons moving and storage.
If you’re looking to sell, and you’re ready to List, I’m ready to be your Realtor! To get in touch with me, click here.