Wednesday, February 12, 2014

Step by Step Home Selling Process

Home selling process is identical whether you are hiring an agent, selling in an auction, or by FSBO.  There may be slight variations from state to state, but selling process includes one or more of the following steps.

  1. Check the local market and how it will affect your sale. If you are lucky enough to be in a hot market where there are more buyers than sellers, you can price your house aggressively. Buyers will compete with each other and will more likely bid higher.
  2. Set a price that sells. Over-pricing can make buyers move on to the next listing while low-pricing can make you look desperate. Buyers will be suspicious about your house and will probably move on to the next listing. Review the actual selling prices in your area and set your price within the same range.
  3. Prepare your home for the showing. Before you put up your house in the market, make it look as nice-looking as possible. Buyers gravitate towards a clean house as they picture themselves living in it. You don’t have to do a major revamp; a new paint or wallpaper can do a lot in improving the look of your house.
  4. Market your house. This part is done by a realtor should you ever hire one. Realtors have access to Multiple Listing Service where they can list your home. You can reinforce this marketing tool by creating a website for your house, distribute flyers, put up a ‘For Sale’ sign, and hold an open house.
  5. Receive an offer. If you are in a hot market, you can expect multiple offers from different buyers. Do not fall for high offer alone as most buyers with exceptionally high offer do not have financing yet. Offering a very high price is their attempt to get your house while waiting for financing approval.

If you are in a cold market, do not despair because you can still sell your home and even get cash. Sell to private investors like Lucas Properties.

Lucas Properties buy houses as is, houses that need repair, distressed houses, and houses with tax issues. 

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