With anticipation that real estate prices will increase incrementally over the next twelve months, homeowners who had pulled their property off the market over the last couple of years may want to revisit the idea of selling. However, before you put a for sale sign in the front garden, take a moment to make sure your home is likely to generate some interest and become a prime candidate for a sale.
Start with your asking price. Is it within a range that someone with good credit could obtain the financing and manage the purchase. If in doubt, talk with local mortgage providers and get an idea of how much financing they would be willing to extend to anyone wanting to buy your home. Allowing for the additional deposit the borrower would have to supply, you can then set the asking price at a level that allows you to make a decent return on your investment, while making the property attractive to a wider range of homebuyers.
Next, consider the condition of the home. Is the plumbing working properly and the wiring up to current standards? Are there rooms that require a coat of paint, floors that need refinishing, or carpeting that needs replacing? Many homebuyers want something they can move into without the need to consider managing several home improvement tasks during their first few months of residence. While making these improvements yourself does cost a bit up front, you can make up the difference by being able to command a higher asking price.
Above all, don’t take short cuts when it comes to choosing an agent. You want someone who is known for their honesty, integrity, and their ability to work closely with sellers, to the mutual benefit of both. Before signing with any realtor, ask around and get an idea of what people think. While no realtor can please everyone, any real estate professional that generates a high percentage of positive comments is likely to be worth your consideration.
Tags: mortgage
