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5 Things to consider before selling real estate property

5 Things to consider before selling real estate property

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Selling a home can sound easy and exciting. Most people think property selling is simply posting it on the market, then buyers will come, and voila, the deal is closed. It may happen to some, but not in most cases. There are just too many things to consider when selling your property in a competitive real estate market.

Selling a property requires your attention, time, and effort. It needs preparation and making wise decisions. Failing to do so might cause you extra stress, inconvenience, anxiety, and unnecessary expenses.

With that said, if you want a fast selling process at the sweetest deal possible, you need to do a couple of things on your end.

Whether you've tried selling a home before or still planning to be selling your first, check out these five things you need to consider before selling a real estate property.

1. Decide whether to hire a real estate agent or not

Some sellers choose to do the selling on their own. There's no problem with this decision if you have adequate knowledge and experience in the real estate world. On the contrary, if you know nothing about real estate, it might cause you big problems along the way. If this is the case, hiring a suitable real estate agent can be your best option.

The best real estate agents in Australia or your location are trained and equipped in property selling. They have enough experience and a vast audience to help you sell your home faster at the best deal possible. If you decide to hire a realtor, ensure you find one with a reliable real estate record in line with the same situation as yours. That person must also be as invested as you are in selling your property. They will help you sell your house faster without stress.

2. Gather all documents and paperworks needed

Before listing your house on the market, make sure that you are prepared and have gathered all the necessary documents. Doing so will save you from the hassle of doing it in the middle of the selling process.

It is where hiring a good realtor becomes beneficial to you. A great real estate agent will help you in the enlistment process and help you gather all the necessary documents, and advise you on the things to process and work on.

If you're wondering what documents you will need in the house-selling process, below is a sample list that you can follow:

  • HVAC Unit Report
  • Appliance Instruction Manuals
  • Roofing Status and Insurance
  • Furnace Status (if applicable)
  • Home improvement dates may include bathroom remodels, kitchen remodels, carpet installation, window installation, etc.
  • Outstanding mortgage balance (if applicable) & pay-off balance
  • Compliance certificates that apply, such as permits for decks, sheds, fences, etc.
  • Home Inspection Report
  • Contract To Sell
  • Deed of Absolute Sale
5 Things to consider before selling real estate property

3. Repair and renovate

One of the common problems that will delay a transaction is skipping on repairs and renovation.

Most buyers looking for a house to move in with their family will always find a home that's convenient for them. Buyers seeing your home as a property that needs a lot of repairs can be a big turn-off. Thus, wasting a potential buyer.

Therefore, you might want to have a home inspection before enlistment. Repair your home, ensuring you won't leave even single damage at hand. You can also renovate your home to have an updated and modern design. Doing so will not only attract buyers' attention but will also increase the value of your home.

4. Stage your home and prepare for property tours

After all the repairs and renovation, it's time to stage your home to appear attractive and welcoming in the photos and on-site property tours. Clean up your attic, bathroom, kitchen, etc. Declutter and decorate!

One pro tip to keep in mind is having a professional photographer capture photos for marketing, as they know how to capture images that highlight your home's best features. With them, you can ensure that prospected buyers will want to check out your home and buy it.

5. Know the market and price accordingly

One crucial factor that affects the selling process is the price and value of the property. That's why it's vital that you research the current trend of the market, know the value of the comparable properties in the area, and see the demand versus the supply.

From there, you can set a price according to the value of your home while considering the factors stated above. Remember that overpricing might scare away potential buyers, causing you a longer wait on the market listing. So, always set a reasonable price for your property.

Conclusion

Indeed, selling a property can be tricky, stressful, and inconvenient, especially when you don't know what you're doing.

As easy as it may sound, you need to do a couple of things before heading to the market listing. Whether you're an experienced seller or a first-timer, there are still things you need to consider as soon as you decide to sell a property.

By considering the five things listed above, you'll surely improve your chances of selling the property in no time for the sweetest deal possible.