You’ve decided to sell your house. One of the options you might be considering is FSBO (for sale by owner). FSBO means you’re selling the house without the assistance of a real estate agent. Home sellers choose this option thinking they’ll save a significant amount of money on agent fees. Upon closer inspection, you’ll see this isn’t a good idea.
Here are some of the reasons you should not risk listing your house FSBO:
- Liability is on you (the seller) – If you don’t advertise the house exactly as-is or disclose all required information, you could be vulnerable to potential lawsuits. An agent knows how to avoid lawsuits from buyers and carries insurance to protect against such suits.
- Pricing the home accurately is difficult – The value of your home is dictated by the local market. If you overprice your home, it will sit on the market too long, severely diminishing its value. If you underprice, you’ll lose money. A good agent is knowledgeable about the local market and can use comps to price your house properly.
- There’s a lot of paperwork involved – The amount of paperwork involved with selling a home can be overwhelming. An agent will ensure you have all the right paperwork and that it’s all in order.
- You’re more likely to make mistakes – Serious mistakes can result in bad deals or lost money. Good agents have experience and can provide guidance to prevent serious errors.
When it comes down to it, FSBO simply isn’t a good idea. You’re much better off working with a local real estate agent. If you need a reputable real estate agent to sell your house, be sure to contact us at Randy Lindsay today.
Selling a house can not only be stressful; it can also be expensive. The longer your property remains on the market and unsold, the more it tends to cost you. This is especially true if you’ve already moved into a new home and are making mortgage payments on the house you’re trying to sell. With that in mind, you’ll want to sell your house as quickly as possible.
The following are 3 home selling tips to help you do just that:
- Know when to sell – The best time to sell a house is typically in the spring and summer seasons. Many buyers are too busy with the holidays during the winter and simply don’t want to trudge around in bad weather looking at homes.
- Price your home to sell – Overpricing your home is going to make it more difficult to sell. You need to understand your local real estate market so you can price your house correctly. If you need to sell fast, consider pricing it under the home’s market value. Buyers will jump on a good deal.
- Use a local real estate agent – Even though a local real estate agent will take a percentage of what you make on the home sale, it’s well worth the investment. This is because a real estate agent can price the house correctly, help prepare the house for sale, and utilize networks of agents and buyers to find motivated buyers in a hurry.
Use these home selling tips to sell your house quickly. To speak with real estate agents about what they can do to help you sell your home as fast as possible, be sure to contact us at Randy Lindsay today.
Before selling a home, it’s a good idea to invest in a few upgrades. Doing so can help improve the value of your property. As a result, you’ll not only be able to ask a higher price, but buyers will be more attracted to your home as a result of the improvements you made.
However, be careful about what you decide to upgrade when it comes to selling a home.
What Upgrades Should You Avoid?
Upgrades tend to add more value to your home and attract buyers’ interest when they add functionality. Investing in luxurious, superficial upgrades may be a bad use of your money.
For example, you don’t want to install a crystal chandelier in the dining room or a pool in your backyard. If anything, buyers will see these upgrades as unnecessary costs, and upgrades like a pool can result in higher insurance premiums.
What Upgrades Are Worth the Money?
Just because you put a $1,000 into upgrading something doesn’t mean your home will be worth $1,000 more. With that in mind, focus on areas where upgrades will result in a high ROI (return on investment). Upgrading kitchen cabinets, kitchen flooring, kitchen countertops, bathroom sinks, bathroom tiles, and more, can improve your home value significantly. Small upgrades, such as upgrading faucets, lighting, and hardware (such as cabinet and door handles and knobs) add value too.
Knowing what to upgrade and what to leave alone is key to obtaining the highest possible ROI. To receive more specific guidance regarding upgrades to your home that will help it sell, contact us at Randy Lindsay today.
Home staging involves adding furniture and décor to make a house appear as if it’s “lived-in.” Especially if you’ve already moved out of the house you’re selling, you might wonder whether it’s worth the effort to stage it.
It seems like a lot of trouble to go through, but there are many benefits to home staging. The following are 3 reasons why you should stage your home when selling it:
1. Staging gives buyers a better idea of the space
Much of the time, it’s difficult to judge exactly how big a room is, even when you’re walking around in it. When a home is staged, buyers can see how each room will look when it’s completely furnished. What may have seemed like a too-small bedroom may appear a lot bigger when there’s a bed in the room.
2. Staging makes the home more inviting
Walking through an empty house feels…cold. When a buyer walks through a house that has been staged, the house feels more welcoming, and this can impact their first impression. It also helps buyers “see” themselves living in the home. This can be challenging for buyers if the house is empty.
3. Staging maximizes a home’s potential
Staging a house allows you to showcase each room and its function. Additionally, it can help buyers imagine what their own furniture will look like inside the home. It allows them to see the potential of the space.
Home staging is beneficial and can help you sell your home faster. For home staging, selling, or home-buying tips, contact us at Randy Lindsay today.
Deciding to sell your home is a big decision to make. Selling a home is rarely an easy process, either. Because of this, home sellers should understand a few things before they officially put their house up for sale.
Here are three important things all home sellers need to know:
- Don’t make the mistake of assuming your home’s value has automatically appreciated over the years. Your home improvements may – or may not – have added to its value.
The local market dictates how much your house is worth. If you’re selling during a buyer’s market, it may be slow to sell and you may not get the price you want. During a seller’s market, you may get bids from multiple buyers.
- Pricing appropriately is critical. Pricing too low will lose money while pricing too high can chase potential buyers away. If your house sits on the market too long, it can decrease in value. A professional real estate agent can help you determine a price value for your home.
- You must prepare your home for sale. This means you may need to invest in repairs and renovations while also staging the house for showings. The house must be in the best condition possible or else you risk leaving a poor first impression with interested buyers.
These are three of the most important things home sellers need to know before they list their houses. If you’ve decided to sell your home, contact us at Randy Lindsay for professional real estate advice.
When selling a home, you’re likely to get a bid from a potential buyer planning to use a home loan to cover the cost of the property. That buyer will provide a down payment in cash, then a lender will cover the rest of the price. While most buyers will use a home loan to purchase your house, some buyers may make a cash offer.
What Does It Mean to Get A ‘Cash Offer?’
If you receive a cash offer, it means the buyer is capable of paying for the house using cash instead of financing. Buyers will pay using a cashier’s check or electronic transfer. There are two benefits to getting a cash offer versus a normal offer:
- The buyer has the money – Buyers that make a cash offer have the money required to make the purchase. Many buyers haven’t actually applied for a mortgage (pre-approval). This means once you accept an offer, they need to be approved by their lender. If they’re not approved, the deal falls through and you’ve gotten your hopes up and wasted time.
- The closing time is shorter – Because a lender is not involved in the purchase, the closing time can be much shorter. It can take as few as two weeks to close if a cash offer has been made.
Keep in mind you’ll need to verify the proof of funds. Usually, the buyer will be required to provide 1%-2% of the price as earnest money along with bank statements or investment statements.
A professional real estate agent can help guide you through the process of accepting a cash offer. If you’re selling a home, contact us at Randy Lindsay for more real estate advice.