SELLER TIPS

Making the decision to sell your home is one of the biggest decisions you can make because it is usually a person’s single largest investment.  To maximize the return on your investment it is important to take a few extra steps in preparing your home for the market.

Curb Appeal

You never get a second chance to make a first impression.  Therefore, it is important that your home truly stands out when initially approached for the first time by a buyer.  It is much harder to convince a potential buyer to go inside the house if he/she is not happy with the outside.  Most buyers have the impression that if the outside of the house has been neglected then so has the inside. 

-Curb.  Let’s start with the curb itself.  Is it free of garbage?  Have the weeds been removed?  Are there oil stains from parked cars that need to be cleaned up?  Remove any abandoned cars or clutter. 

-Sidewalk.  The sidewalk also needs to be free of garbage and weeds and should be kept swept.  Are there any bicycles or toys that need to be put away?  In the winter, make sure the snow is shoveled off the sidewalk and walkways. 

-Yard.  The lawn needs to be green and healthy and needs to be kept mowed.  Apply a fertilizer/weed killer if necessary.  Keep the lawn watered, freshly mowed and trim back the hedges, bushes, etc.  Try to have some colorful flowers in bloom around the house and have the dead ones removed.  Is the fence leaning or does it have any missing or broken boards?  Is there a squeaky gate that needs to be lubricated?  Maybe consider a fresh coat of stain for that wood fence.

-House.  Your house should not have any flaking paint – put a fresh coat of paint on it if necessary.  No cracked windows and the roof should have at least 5 years remaining life or it could create problems when the buyer has a Home Inspection completed.  Make sure the roof and rain gutters are free of pine needles, leaves, and mold.

Now Let’s Go Inside The House

The potential buyer has liked what they’ve seen on the outside of the house, now you have to shine as much on the inside of the house.  Statistically, the kitchen and the bathroom are the two most important rooms in the house that must be clean and fresh, although you want the whole house to shine.  Your prospective buyers will be trying to envision their household of items fitting into your home.

-Paint.  A fresh coat of paint throughout the house would be a good idea.  Sure, it’s time consuming and may cost you a little money up front, but the payoff could well be worth it.  Use neutral colors that will appeal to most people.

-Flooring.  If there are terrible stains on the carpet or holes in the linoleum then these should be replaced.  Vacuum the carpet, polish the linoleum and put a good shine on the hardwoods.

-Clutter.  A “lived in” house is different than a house that has a lot of clutter.  Pick up the clutter, throw away items that you haven’t used in a year, pick up the kids’ toys, don't have piles of dirty laundry sitting on the floor, dust.  Make sure the dishes in the kitchen are clean and put away.  Basically, tidy up.

-Functionality.  Make sure all the appliances work if they are being included in the sale of the home.  Make sure all the lights work.  Make sure there are no water leaks under the sinks and that there are no leaky faucets.

Other Ideas To Keep In Mind

-Keeping a flexible schedule will be important when it comes to showing your home.  Most buyers have to work for a living and they are limited as to when they can view your home.  Sometimes it might be inconvenient to show your home (maybe it will be close to dinner time or it might interrupt your favorite TV show) but it’s not a good idea to pass up a showing when possible.

-Try not to put a lot of personal feeling into the showing of your home.  Although the memories you have are very near and dear to you, the buyers aren’t interested.  They are looking at the home as a place to start and create their own memories.  Treat the showing of the house as a business meeting.  Also, you will want to have a Guest Register for potential buyers to sign upon entering your home.  Have the Guest Register include at least a name and phone number.  This will allow you to follow-up with them in a couple of days, plus, for security reasons, you want to know who is walking thru your home.

-Price the home correctly.  Keep in mind that many buyers are working with a Realtor because Realtors have access to homes on the MLS.  It's advisable not to discount any buyers that want to involve their agent in the sale of your home but be aware the offer that is presented to you may be in the buyer's best interest and not yours.  Read the offer carefully and take some time to think about it.  Usually a couple days are provided for in the offer.  You may find that you want to increase the price of your home slightly to cover the cost of the Realtor fees but be careful not to overprice your property because the appraiser still has to be able to justify the price of your home.

-Although there is a lot of sentiment in your home, this factor must be overlooked when pricing your home.  Consider purchasing an appraisal from a professional real estate appraiser.  These professionals are unbiased and are knowledgeable with the market.  Ultimately, the buyer is responsible for purchasing the appraisal so that their lender is confident the home is worth what is being loaned on the property, but this is probably the best and most accurate way of determining the asking price of your home.  Another way to determine an asking price for your home is to do some homework by researching what similar homes in the neighborhood have sold for in the last six months.  Adjustments must be made for larger or smaller homes, as well as for homes with more or less amenities (bedrooms, bathrooms, etc).  The location of your home is also important in determining its value.  Homes located next to the freeway or an industrial park might not demand the same price as a similar home located next to a pristine park.

-Writing a contract with the buyer can be complicated if you have never written a real estate contract before, but it should be fairly simple if the two parties have already come to an agreement during a For Sale By Owner situation.  A paperwork packet with the necessary documents can be found at your favorite office supply store and these packets come with step-by-step instructions on how to fill out the packet correctly.  The buyer should write an earnest money check in the name of the company that will be handling the closing of your property.  The amount of the earnest money check shows the seriousness of the buyer - a typical amount will be in the neighborhood of $1000 and will be applied to their closing costs.  The seller might want to consult a closing attorney or title company prior to entering an agreement with the buyer.

Keep in mind that these are just ideas to make it possible to net the most amount of money from the sale of your home.  Buyers are very smart and very picky, especially in a buyer’s market.  Buyers have looked at a lot of homes and they are comparing your home to many others they have looked at.  If the tips provided above are heeded then your house should shine above most others.