The average home buyer takes over 10 weeks to buy a house. If you’re looking to sell faster than that, it’s important to know the right questions to ask when selling a house.
Here we’ll cover the various factors to consider to help your home sell faster and at the price you’re looking for. Read on to learn more.
1. What Is The Remaining Balance On My Mortgage?
While selling your home may sound like a good option, you may not be able to currently afford it. You’ll want to make some profit in your home (at least to pay for moving expenses) or break even. It’s important to know what you owe on your mortgage.
This, along with the current market value of your home, will help determine your asking price. We’ll further discuss finding the right asking price later on.
2. Does My Home Require Repairs or Touch-ups Before Going On The Market?
You’ll want your home to be in tip-top shape when it hits the market. This means having any repairs or touch-ups done ahead of time. Interested buyers will likely hire an appraiser that will deduct from the value of the home depending on what shape it’s in. More often than not it will be cheaper to hire a repairman than to take the loss.
Do an in-depth walkthrough and try to view your home through the eyes of a buyer. If you want to be extra thorough you can always hire an appraiser yourself.
3. Is It The Right Time To Sell?
You may have heard the term “seller’s market”. It does exist and should interest you in when it occurs. This is especially true for those planning on selling their homes. As a general rule of thumb, the real estate markets see more sales around February.
It also tends to take a dip between July and August. While there’s no guaranteed way to know how long your house will be on the market, aiming to list it during these hot spots could lead to a faster sale.
4. How Long Can I Expect My Home To Be On The Market?
Knowing the current economic state and whether people are buying homes is your first indicator as to how long your home will be on the market. Another way to get a rough estimate is by seeing how long homes in your area take to sell.
If your home is near parks, a good school, or an urban area, your home will be on the market for a shorter period of time. Homes in rural locations with less around take longer to sell.
5. Should I Stage My Home?
Staging your home is the process of decorating and changing up the interior design of your home to make it more appealing to buyers. This also means “depersonalizing” it by removing any photos or items that show the home currently belongs to someone.
While many believe that staging a home is only for high-end homes, this is actually a myth. Incorporating a few staging tips can help sell homes at practically any price.
6. How Much Is My Home Worth And What Should My Asking Price Be?
Next, it’s important to choose the right asking price. You’ll want to combine some of our tips from Question 1, 2, and 3 to determine your price. For example, if you have to sell during a time that’s not a buyers market or in an area that doesn’t hold as high of a market value, you may need to lower the price.
However, the same goes in reverse. If you’ve invested money into enhancing the value of your home, it will likely be worth more.
7. Will I Sell Through A Real Estate Agent, or Sell Myself?
If you are living in an area where homes tend to fly off the market, chances are you won’t need a real estate agent to sell your home. However, for the majority of people, hiring a real estate agent can improve the chances of getting a quick sale. This is especially true if you need to sell in a hurry.
Real estate agents will already know where to advertise your home, how to stage it, and can help you narrow down the right asking price. A real estate agent can also clue you in on when its time to lower the amount.
If you’re not sure whether you want to hire a real estate agent or broker, we suggest you visit Brokerbreakup.com. Once you visit the site you’ll find different information on each so you can make a more informed decision.
Questions to Ask When Selling A House Through an Agent*
If you do choose to go with a real estate agent, you’ll want to be sure you ask the right questions before they begin to show your home. We’ve provided you with a couple of questions to get you started.
1. How Much Experience Do You Have?
While this should seem like an obvious question, many homeowners make the assumption that a real estate agent comes with years of experience. Not only should you know how much experience you have, but you should also ask for references.
It’s important to look for reviews. See how often they urge their clients to low ball and how trustworthy they are throughout the process.
2. Have You Sold Any Homes in My Area?
Just because an agent has sold a number of homes, it may not mean they have the right experience for your home. This is especially true for homes in more rural areas or in areas that are hard to sell.
Look for a real estate agent that specializes in your type of home and area.
3. What’s Your Selling Process?
Every real estate agent has their unique strength and selling process. Some prefer to be able to show your home in a moments notice, whether you’re there or not. Others rely more on print advertising to get the word out about the sale.
The more you know about how they go about the selling process, the more you’ll know what to expect. You may decide that their method isn’t aligned with your lifestyle.
From Selling to Buying
Just as there are important questions to ask when selling a house, there are questions you’ll want to keep in mind when it’s time to buy as well. The more you know, the happier you will be with your decision.
Check out one of our blogs on buying homes, like this blog on buying a prefabricated home. It’s a great place to start your adventure!