Selling a home can be a challenging process even with the assistance of a real estate agent. There are various factors that play a large role when selling a home such as location, the condition of the home, real estate marketing initiatives, market conditions, economic changes, time of year, and much more. When owners sell their home, their ultimate goal is to get as much return on the value of the home as possible, while potential buyers negotiate to spend as little as possible. So how do home owners get the most value out of selling their home? Below is a list of questions that home owners frequently ask when they’re ready to sell their home.
1.When is the optimal time of year to sell?
Generally, more sellers are found during the spring season. This can range anywhere between March and June. However, some people prefer to sell in other seasons to avoid competition. Of course, this may also vary depending on the area they are selling from, as well as the demographics of potential buyers.
2.What is the status of the market?
As mentioned earlier, a home seller’s goal is to get as much return on the value of their home as possible. If the market conditions are not in favour of the time by which they choose to sell their home, this can affect the home’s buying potential drastically.
3.Are there specific things I should do to prepare my home for sale?
It is very important to make an excellent first impression when buyers take a look at a home for sale. Having a home for sale that has not been staged for buyers can put sellers in a huge disadvantage. Here are some things sellers need to note when preparing their home:
- Keep the house odourless
- Rejuvenate your house with new carpeting, paint, fix leaky faucets, replace burned out lights and many more
- Unclutter your home so it seems bigger
4.Do I need to disclose anything to potential buyers?
Honesty is the best policy. Sellers are advised to disclose all information about the home. It is better to find out information directly from the seller as opposed to uncovering vital information during the home inspection.
5.What is my home valued at?
This is generally the most common question asked when selling a home. Each home has its own value; however, sellers can get a free estimate by benchmarking homes in the neighbourhood and using tools like Free Home Evaluation pages on real estate websites.
6.How much do you charge?
“It's unwise to pay too much, but it's worse to pay too little” –John Ruskin
Commissions for sales representatives may vary. Although, the most common commission charged is a 2.5% spilt between two agents.
7.What should be included in the sale?
Generally sellers will leave various things for the new homeowners such as appliances, small upgrades to the home, sheds, and other miscellaneous utilities.
8.Am I required to do repairs?
Majority of real estate buyers finance a home with the bank and as the appraiser, they require the seller to do certain repairs. Most repairs required are possible safety issues that can include roofing, utilities, electrical problems, broken stairs, and more.
9.How long will it take to sell?
This is usually one of the first questions sellers tend to ask. There is no exact answer, but it can range from a few days to a year, depending on the home’s condition, price, location, and multiple environmental factors.