Q: How much needs to be done to my house before putting it on the market?
A home's "must-do repairs" are those that will negatively impact your home's resale value if they're not done. Things like leaky faucets and cracked tiles will stick out to a buyer because it is right in front of them when they are inspecting your home. For example, home entrances make key impressions on homebuyers, and repairing sagging doors and repainting them is probably a must. Other must-do home repairs prior to selling include and are not limited to; replacing damaged vinyl flooring, cleaning, repainting or renewing baseboards and resealing toilets.
Q: How long will it take to sell my house?
Once your home is placed on the market, there are many different factors that can determine the length of time it takes to sell. One factor includes how much you are willing to sell your home for and how the market is during that time. In a high demand market, a well priced home will sell much faster than an overpriced home.
Q: What is my property really worth
In order for you to calculate the likely selling price of your home, you need to have access to data from recent sales in your area. Armed with this information, you can draw comparisons between your home and other similar properties that have recently sold in the area. There are a number of factors that come into the equation in determining the value of a property – such things as the size, location and orientation of your land, the size and style of the house, the age, condition and presentation of the property, the quality of your fixtures and fittings, how unique and desirable the property might be to the current buyers in the market, the economic climate and more.
Q: What should I do to prepare my home for showings?
Preparing a home for showings can be a job in itself. A home that is well prepared for home showings will likely sell faster than it’s competition. Making sure a home is clean, de-cluttered, bright, generally in good condition and that no foul odors are present are just a few things that sellers should do to prepare their home for showings.
Q: Are there standard contingencies in an offer?
Yes, the two most basic contingencies in a purchase contract are financing and inspections. You should read and fully understand all the contingencies or clauses in a contract before you sign.
Sometimes a contingency clause is attached to an offer to purchase real estate and included in the real estate contract. Essentially, a contingency clause gives parties the right to back out of the contract under certain circumstances that must be negotiated between the buyer and seller.
Q: What are the dangers if I overprice?
When a property is overpriced, windows of opportunity are missed. Broker and buyer interest is at its highest when a property is initially placed on the market. But if the property is priced above realistic market value, the number of potential buyers and people interested is significantly reduced. Later, it may be necessary to adjust the price appropriately to compete with new, competitively priced listings.