Deciding to Sell
You’ve finally made the decision to put your property on the market. Now, it’s time to take the next step. This isn’t cavalier because it is a big undertaking and it will be a process filled with expectations and emotions. So, it’s best to understand why you are motivated and to sketch out a realistic and flexible time frame.
Why are you selling?
What’s the one big reason you want and/or need to sell? Sometimes, this is very obvious, even compulsory (like having to relocate for a job or needing more space for a growing family already cramped into a small house. Other times, it’s due to a change in the neighborhood or a life change, like getting married and combining households).
It also could be due to the need to reside within a good school district or wanting to downsize a large, empty nest.
First, identify the main reason you’re seriously considering selling, then identify a few more reasons which also support listing your property.
When is the best time to sell?
One of your first priorities is to map out a time frame for selling your house. Generally, this averages about 70 days. In hot markets favoring sellers, it could be substantially less time. Whereas in markets favoring buyers, it might be longer.
The point is to know what trends your local market is following. Speaking with a local real estate expert will be your best source for such information. This way, you’ll understand the local market dynamics and how best to market your property.
What’s happening in the local real estate market?
Depending on where you live, the market momentum and fluctuations will differ. While in general much of a particular county can be hot, it is possible for pockets to be less active. Your neighborhood is the best place to start.
Additionally, understand the real estate market changes fluidly. With the help of an experienced real estate professional, you’ll be alerted to current trends, as well as possible changes.
How do I make the most of my budget?
This is something every home seller is concerned about. They know making small repairs, deep cleaning, disinfecting, depersonalizing, and staging are all necessary. But, some sellers are hesitant to make larger commitments. While it’s certainly understandable, it’s usually strategic to attract qualified buyers with sincere purchase offers.