If you’re selling your home, you need to know some basic tips for the process. There are several things you should know about pricing your home. To start, you should research the market and compare homes that have recently sold in your area. You should also check the current inventory levels and other trends and figures to see how your home will fare compared to those sold in the past. This way, you can determine a fair price for your home and prepare for the negotiations.
Cleaning
There are a variety of reasons to spend some time cleaning before selling your home. The more attention you give your property, the more appealing it will be to potential buyers. This is particularly true when you stage your home with furniture and a fresh coat of paint. Cleaning is an easy and inexpensive way to add appeal to a property. Potential buyers will notice a clean, well-maintained home immediately. The following cleaning tips can help you achieve that goal.
Repairs
You can make the majority of repairs when selling your home. Many buyers will throw in extras to give you wiggle room when negotiating. However, there are some repairs you should definitely have done by a professional before you put your home on the market. Before leaving, make sure to fix any nail holes or dents in the walls. Make sure you provide receipts to prove you did this. In order to make your home look good to potential buyers, it needs to be in great condition.
Staging
Staging your home for selling is important to help make it more appealing to prospective buyers. While it can be difficult to stage your home for sale, it is essential to make it as close to perfection as possible, as buyers are looking for a reflection of the life they will be living in it. If you have a family with kids, consider enlisting grandma’s help to keep the kids busy while you clean the house. Otherwise, hiring a professional cleaner will do the trick.
Tax laws
When you sell your home, there are several tax laws you have to comply with. You have to pay tax on the amount of your gain, which is the difference between the price of your home and the price of the house you sold. Unless you bought the house less than 2 years ago, you can hold onto it until the sale. Then, you’ll have to pay capital gains tax on the profits. If you’re selling for less than $250k, you don’t owe any tax on the gain.
Comparables
When listing your home, you should include comparables to your home. Comparables are similar homes that have recently sold in your neighborhood and area. Make sure they are of similar age, style, square footage, and lot size. A real estate agent can help you find accurate comps by searching the multiple listing service (MLS).
Showings
When it comes to showings when selling your home, there are many things you should do to make the experience as smooth as possible for potential buyers. In this article, we’ll go over what to do to prepare for showings and how to respond to them. First, make sure to be flexible with showing times. Usually, the earlier the showing, the better. However, some buyers may hate your home, which is perfectly normal. Regardless, it’s vital that you make your home as inviting as possible.
Counteroffers
Counteroffers are very important in the sale of your home. They let the buyer know where you stand, but they should not drive you away from your list price. If you make them too low, you may be turning off buyers. If you’re hesitant to counteroffers, you may be risking losing your house. Here’s how to handle them:
Contract of sale
A contract of sale is essential when selling your home. While a contract will prevent the buyer from walking away, it should contain clauses that protect the seller. Depending on the contract, contingencies may be added to the sale, such as that the buyer must move out within a specific time frame. Providing references for your buyer can also give you peace of mind. It also protects you, since buyer references can help you assess the buyer’s responsibility.
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