Home Selling - How You Do It?

If you are planning to sell your home and you are just learning the first steps, you will find many tips and selling guides over the Internet. You will soon know that the most important thing to think through is selecting the list price that will make you close a deal.

Not just any price will do. List price will either make or break your deal, so it is a must that you set the price cleverly. More often than not, homeowners set the price too high because of their emotional attachment to the house. This is quite normal but this will also discourage potential buyers to even look at your property.

If you price it low, you might have more buyers than you imagine however, you also miss out on cash and equity that you could have earned from it. In this article, I have combined the basic steps on how to price your home accordingly.

• Make a comparison sheet. Your house is not exactly the same as the house next door or the house a few blocks away. When you check for comparable features, you have to consider the age of the house, lot size, square footage, physical condition, number of beds and baths, neighborhood, and amenities. For obvious reasons, the bigger and more well-maintained property costs higher.
• Use current information and market condition. The price of your home six months ago may not be the same as of today. Real estate condition changes pretty quickly so your house could be worth more or less depending on the market.
• Use the actual sales price. There is a difference between the list price and the actual sales price. The actual sales price will allow you to see what the buyers are willing to pay for a property like yours.
• Use the Internet to your advantage. Check out your competition online, chat or talk to real estate agents who offer free services online, and join forums with like-minded people and home sellers. You will find that there are many home sellers like you and that you get to share your experiences and learn from theirs.

Sell your house to Lucas Properties for cash. Regardless of why you are selling, Lucas Properties buys houses with no questions asked. 

Sell Your Home Fast

In tough real estate market where supply is greater than demand, a home owner can sell his house faster generally by lowering down its asking price. However, you can still make money by doing the alternatives of reducing the asking price. 

Standout from the rest. To attract attention of potential buyers, differentiate your house from the rest by doing little but not so costly renovations. You can improve the landscape, repaint the interior, or change the stained window glass. These little improvements can make a great deal in adding value to your home. However, do not overdo the renovation. Some renovations may not what the buyers’ need and will likely be taken for granted.

Get the price right. It is enticing to set the asking price as high as possible but you have to remember that the right asking price is what the buyers are willing to pay. You can hire an assessor to gauge your house’s market value or you can run a comparable study by checking the houses for sale in your area and how much are they. To differentiate from the rest, price your house slightly lower than the comparable houses nearby.

Be systematic. Prepare all the documents that are relevant to the house. These can be repairs receipt, electrical and gas certificates, tax papers, and any other related documents. Buyers should be made aware of the house’s situation and these papers will give them a peace of mind.

Choose the right marketing. Spreading the word is the key to reach potential buyers. The effort you invest in renovation and staging your house will be put to waste if buyers do not know that your house is up for sale. Hire the right agent or use the proven marketing tips.

Sell to private investor. Unlike traditional house selling, private investors offer a quick and guaranteed sale. Private investor such as Lucas Properties buys houses with cash; they buy houses as is. 

Do You Have to Drop the Price?

As the seller, it is only reasonable that you would like to get the most money for your house. Is your house not selling? This may be due to several different factors such as economy, competition, location, and fewer demands. These factors are beyond your control however, there is one thing that you can have power over and that is your asking price.

It is maybe the time to drop your asking price if your house has been in the market longer than the others with house features similar as yours. If the average number of days to sell a house in your area is 15 days and your house has been sitting for 25 days already, the price may be affecting your buyers’ interest. Do not let your house sit for much longer otherwise; buyers will think that there is something wrong with it.

Drop the price if you are following a tight deadline. Some people find the need to sell their house quickly if they are relocating, have already purchased a new home, and or facing foreclosure. If you happen to be in a similar situation, you can amp the buyers’ interest by dropping the price. Selling a house is not about how much money you make as the owner but it is how much money the buyers are willing to spend for your house.

Drop the price if you need to sell your house as is. If the reason for selling your house is financial hardship, it is more likely that you cannot afford to pay for a few upgrades. Fresh paint, new kitchen counter top, or new water heating system in the bathroom can go a long way in getting more buyers. Buyers are unlikely to pay for a home which is less presentable than the other comparable.

Do you need to sell as is? Do you need a quick turnaround time? Can’t afford to lose more money? If your answer is YES to all of these; then you need to sell your house to Lucas Properties.

You don’t have to drop the price. Lucas Properties, a private investor, offers a fair cash price based on the marketplace and your house’s condition. 

Home Selling: Pros and Cons of Open Houses

Open houses are a good means of selling a house but like any other methods, it has its share of advantages and drawbacks. Before you decide if it’s worth it to have an open house, make sure you know the pros and cons.

Pro

Open houses attract buyers. There are people who are not comfortable working with an agent so they prefer to buy houses on their own. Open houses provide a less intimidating way of viewing your home. Potential buyers who do not feel pressured by hovering agents will have a good time of considering themselves in your home.

Con

Open houses attract the wrong crowd. Not all onlookers are serious buyers. Some are just nosy neighbors while others are looking at some things they could steal upstairs while you are busy answering questions from other house shoppers. A large number of shoppers also pose risk of property damage. Visitors who tend to get comfortable with your belongings might leave dirt tracks or worst, break valuable vases and furniture.

Pro

You can save on staging costs with open houses. Staging your house for the sale involves time and money. Drawing multiple buyers at the same time could mean less private showings resulting in less last-minute preparations and staging. Since open houses are less intimidating, people are inclined to give you feedback about your house. These feedback can be valuable information towards improving your house and close on the next buyer.

Con

Not all houses’ location is perfect for an open house. Some cannot just accommodate several cars parking in so the owners can go inside the open house. If you are still living in the house you are planning to sell, open house means you have to vacate the premises together with your children and pets.

Bottom line, open house does not work for everybody. If you want to have a quick sale without the hassle of home staging and showing, sell your house to private investors.

LucasProperties is a private investor who has been in business of buying houses and other properties with cash. Over the years, they have helped property owners disposed their homes hassle-free.