Selling your home is a significant step, and there’s a lot to think about before making the decision. Here are six key considerations before deciding to sell your home:
1. Paperwork
Buyers will ask about various aspects of your home, such as the roof’s age and details of home improvements. To appear trustworthy and well-prepared, gather these documents:
- Original sales contract
- Mortgage documents and current balance
- Home-owners association documents
- Homeowners insurance records
- Age and warranty information for major appliances
- Records of home improvements
These documents will help answer buyer questions and are needed for closing. Different states have varying disclosure requirements, and failing to provide this information can result in legal liability.
Read about Selling Your Home in Chandler AZ
2. Real Estate Agent
deciding whether to sell your home on your own or hire a real estate agent is important. Selling without an agent allows you to save on commission and focus solely on the sale, especially if your property is in a high-traffic area. On the other hand, real estate agents provide valuable market knowledge, recommend competitive prices, and handle inquiries efficiently. They ensure buyers are qualified and offer safeguards against fraud.
The season can also impact your sales:
Spring:
Spring is often the best time to sell. Tax refunds arrive, the school year ends soon, and warmer weather motivates buyers. However, there may be more competition as other sellers also list their homes.
Summer:
Summer remains a good selling season for the same reasons as spring, though activity might slow down due to vacations.
Fall:
With winter approaching, especially in colder climates, buyer activity decreases. Expect a longer wait for offers.
Winter:
Winter is generally the slowest season. However, in warm regions, the market remains active as buyers seek to escape colder areas.
4. Preparing Your Home
Prepare your home before listing it by cleaning thoroughly, addressing maintenance issues, and creating a welcoming environment. Remove personal items and opt for neutral colours on walls and floors. Maintain a tidy exterior with a well-groomed lawn. Consider staging your home for enhanced appeal during photos and showings, and keep the house tidy while limiting the number of family members present to minimize distractions for potential buyers.
5. Home Inspection
Although buyers usually get a home inspection before closing, sellers should consider one before listing. For a few hundred dollars, it can save money later. An inspector will examine the foundation, structure, electrical, plumbing, heating and cooling systems, roof, walls, and floors, and provide a report on any issues that could affect the home’s integrity or safety.
6. Considering Renting
If you’re unsure about selling, consider renting. Rental income should cover property expenses like the mortgage, insurance, taxes, upkeep, and repairs. Ideally, you’ll also make a profit, but save some income for periods without a tenant.
Selling your home is a significant decision. It’s exciting but requires thorough research and preparation before listing.
