Selling a property is not a walk in the park—it requires time, money, and effort. You need to spend money on agents, other real estate professionals (inspectors,appraisers, etc.), closing costs, and more. The good thing is, that there are ways you can save money while selling your home. How?
Work with a Local Expert
You need to follow certain steps and procedures when selling your property. A good agent will help you immensely. This can eliminate the need to hire a solicitor and other services. At the same time, they will give you tips on how to market your home.
Know How Fees Work
Before you try to negotiate agent fees, it helps to understand how agents are paid. Traditionally, a seller pays about six per cent in fees. Half of the fee goes to the buyer’s agent, and the other half to the seller’s.
You can negotiate the fees, but you may have to offer something in exchange.
Time Your Sale Appropriately
There are considerable variations between peak and quiet periods. Most agents recommend that you sell your home in autumn. This is because the summer months are too hectic. On the other hand, the winter months may not be ideal either since there are fewer prospective buyers.
Set the Right Price
You want to make the most money from your property, but also attract buyers and sell your home quickly. This step is where a good real estate agent is essential. Your agent can complete an analysis of comparable properties that sold recently for you to see how much you can sell your home for.
Most real estate agents will do this for free; you can ask for and compare analyses from multiple agents before deciding which one to list your home with.
Negotiate the Best Offer
When a buyer offers to purchase your home, you are under no obligation to accept their offer. You can use the offer as a starting point for negotiations. A good real estate agent can help you in this aspect.
Higher prices do not always mean better deals. As a seller, you should pay attention to the deals with contingencies. Contingencies protect the buyer by allowing them to back out of the deal under specific circumstances. They can include contingencies dependent on financing, appraisal, home inspection, and the sale of a buyer’s home.
Make the Necessary Repairs
You need to conduct any necessary repairs to your home before you put it on the market. As a homeowner, focusing on your new place instead of the old may be tempting, but don’t do it. You should make sure everything is in order before you even list it. At least half of the profits from the sale of your home will go toward market preparation. Before getting started, you need to hire a contractor to repair your home’s deficiencies.
The Bottom Line
The whole process of selling a property can be tough, but it is possible to make it a pleasant experience if you have the right information. Follow the tips above, and you may be able to save money and time, which can help you get to your new house quicker.
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