Still Clickin

Once you are retired, one of the first steps you may wish to consider is to sell the family home. Whether you are downsizing, relocating, or cashing out, buying or selling a home is not an easy process. Typically, you will wind up feeling a bit disatisified. Both buyer and seller simply want a fair deal that happens quickly. But a fair deal only occurs when the buyer and seller are equally dissatisfied. That is simply the way negotiations work.

If you are selling -

1. Choose your best selling season. A hot selling season, e.g. Spring, has the most buyers but also the most competition. A slow season, e.g. Winter, has the least competition and the least number of buyers. Often, the best timing is the end of a slow season as the first crop of new buyers start to appear. Learn the details of what is happening in your particular market.
2. Start preparing the home at least six months before your target listing date.
3. Address obvious eyesores and problems. Don’t explain about the wobbly step. Get it fixed.
4. Paint. Use neutral shades that open the space and permit buyers to imagine their own furniture in the room. For interiors, use whites, off-whites, beiges, or pale grays. White exteriors also sell well.
5. Remove clutter. Rent a storage locker if need be, but it is critical for rooms and closets to be free of clutter. If you must, move the clutter to the garage which is the only place people might discount some of its impact.
6. Clean, clean, clean. A lack of cleanliness can cost thousands of dollars.
7. One or two months before your target listing date, interview three different real estate agents. A good agent will inspect your home, give you more ideas about preparing it, learn about your objectives, and provide you with a written market analysis and pricing recommendation. Don’t be afraid to ask for discounts; some brokers will offer them outright.
8. Consider staging your property. Professional designers can reposition furniture, add a plant, and even assemble some rented furniture to show off your home to its best advantage.
9. Choose your agent. If none make you feel comfortable, consider doing the job yourself.
10. Decide upon your asking price. This is your most important decision. It is far better to be realistic than greedy. You want to price right where the market would expect it to be. Check Zillow Home price estimates for your neighborhood.
11. Sign the documents and list the home.
12. A weekday open house for agents and a weekend open house for buyers will announce to opportunity to the world. With all your preparation, you should feel proud of your home as your neighbors and potential buyers traipse through.
13. Disappear whenever the house is being shown. Buyers are uncomfortable when the owner is present.
14. Anticipate specific feedback from any showing and react (e.g. add a brighter bulb), if possible.
15. If your home is shown to a number of buyers and it is priced correctly, you should expect to receive at least one offer during the first month, even if it is too low. However, If there is little to no activity, lowering the price is the most important change you can make. Don’t be bullied, but don’t be foolish either.
16. If you must move, and the market in your area is simply too slow, consider renting. It can be a frustrating choice, but one that might make financial sense.

If you are buying, there are a number of questions you should ask yourself.

1. Why do you want/need to move?
2. Is there a schedule you must meet?
3. What price range are you considering?
4. How many bedrooms and bathrooms?
5. Approximate size or square footage of the home?
6. Approximate size of the property?
7. What are the requirements for schools?
8. What style or age of home are you targeting?
9. What are the requirements for basements and garages?
10. Are there any local travel requirements?
11. Are you looking for an urban, suburban, or rural location?
12. Have you picked specific neighborhoods or communities?
13. How close to shopping would you like to be?
14. Are there any special health-related requirements?
15. What physical or community amenities do you desire?
16. Are there any special features desired for the home?

Once you are able to answer these questions, you will have a very specific idea of the home you are looking for. Also, check other web resources, e.g. Federal Government Home Buying Information.

NB. Click below to make a comment. Even better, expand on the original article by going to wikiSenior and clicking on ‘edit’.

2 Responses to “Tips for Selling the Homestead”

Leave a Reply