How to Navigate Selling Your Home

July 1, 2022

Hopefully, even if this is the first time selling your house, you have a kind of vision for how things will go. This is a good thing – as long as your vision is based on reasonable expectations. The worst is when something you didn’t expect comes along and blindsides you.

Get an Inspection

A big part of preparing to sell means getting your home in proper condition. At first glance, it may seem like there aren’t any issues. But be careful. Problems with the home that go unseen can cause big logistical and financial issues for you later on in the selling process. This could even include relatively small repairs, cleaning, and remodeling that could help increase the value of your home by an amount that isn’t insignificant. That’s why it’s probably in your best interest to get an inspection done professionally by somebody who knows what issues to look for. This way, you can go in prepared.

Account for Closing Costs

You might think that selling a house really seems to be straightforward: you get the money as promised by the buyer and then pay the commission percentage to the agent. Not so! Selling a house comes with many fees (small and large) that can slowly chip away at your profit. Taxes, transfer fees, credit report fees, attorney fees, and even just fees for enacting the sale are all examples of closing costs. Try and find out just what exactly you’ll be expected to pay before you actually go through with the sale. In some cases, such costs won’t be necessary; cash buyers can cover normal closing costs that home sellers usually pay. But that’s the minority of home sales.

Know the Market

Your expectation and your vision for the sale of your home might be simply not the reality. The fact is that the economy is constantly in flux. Especially in recent years, in the wake of the pandemic, it can be hard to determine in which direction the market is headed. Agents can be very helpful in understanding the state of your local market. They have experience and know the area quite well. Talk to a professional about the current trend of supply and demand in your neighborhood.

Selling your home should be a good thing. After all, you’re encountering a windfall of profit, and can use it to go find a new home or make a new investment. All the more reason you don’t want to be caught unawares. Do your research, prepare yourself properly, and you’ll get a good deal.

Check out this article on how to sell a home with less stress!

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