First Time Selling Your House? Read This!

Looking back at the time when you’ve just bought your house, things were might have been a lot different than now. Either so much time had already passed that the situation has changed from that distant memory. Or, so much has happened recently that things are suddenly not the same a few days or weeks back.

 

There are various reasons why one would sell their house. Others require the cash for their personal needs, many have the responsibility to move because of their jobs, some get married or divorced, and there are also those that want to turn their house into a vacation or a business investment! All of these are valid in their own right.

 

No matter what situation you’re in right now, we want to help you during your first time selling your property. Before jumping into the fray, it’s smart to start with a plan. To formulate those plans, it’s essential to learn from those that have walked the same path. The fact that you’ve done enough clicks on the internet to get to this article means that you’re already on the right track by educating yourself.

 

The Selling Process

Let’s get a lay of the land and see our general expectations for selling the house. Here’s a summary of the selling process:

1. You hire a real estate agent to list the property for buyers to see.
2. Buyers come to see the house, and you wait until someone decides to go to the next step.
3. The negotiation process ensues. This step involves a lot of back and forth on what the final price will be.
4. After weeks or even months of formalities, you’ll close the deal and enjoy your hard-earned cash!

 

If you think it’s that simple, spoiler alert: it’s not. This process is condensed. Each step is much more complicated than what it seems to be. The role of lawyers and paperwork wasn’t even mentioned! But we won’t be addressing those on the following points since each area has different governing laws. Because we’re recommending that you get help from a reputable local real estate agent in this article, they’re going to be there to share their expertise on that matter for your benefit. For now, you’ll get an overview of how you can sell your house.

 

Things to Anticipate for Selling

There are few things you need to get ready for when you’re putting your house up for sale. Some of these may sound absurd but could be relatable to others.

 

Emotional and Mental Preparedness 

You can’t jump into this endeavor half-hearted, or you risk losing more money in the long run. If the house carries significant memories, dealing with them until you’re ready to move on might be the best move. Also, expect that the potential buyers won’t have the same enthusiasm or appreciation for the house as you do.

 

Financial Calculations 

Once you’ve dealt with the emotions, it’s time to set some expectations around money. Selling a house can get expensive. Even if you manage to close the sale at a decent price, if you don’t know what’s coming, several things can chip away at the cash that may leave you with less than you assumed. Some of those expenses may come from closing costs for the mortgage, commissions for your agent, fees, and taxes. Also, keep in mind that some of the factors that may affect the renegotiation for the final price may include any repairs, replacements, or renovations required.

 

“What if you don’t sell the house for a decent price?” That question’s the reason why you should know the estimated value of your property and all the costs involved. Your agent will be doing a market analysis for you, but you can also compare prices with the listings in your area.

 

The Listing Agent

If you’re not familiar with them, a listing agent is a real estate agent that helps you “list” your property on the market for buyers to see. This person is your partner (and not your employee) during your selling adventure. A local agent is essential because each area has its own laws, and their knowledge can save you mountains of time and unnecessary expenses. Being reputable is also crucial for obvious reasons. What isn’t apparent is that a good agent that a friend or colleague recommends might not necessarily be a fit for you as your situation may be different from theirs. It always pays to ask the right questions and do your own research.

 

Note: While we do advise that you should believe your agent’s advice, we know that it might difficult to gauge if they’re trustworthy or not, especially if it’s your first time. If ever you have doubts, getting a second or third opinion from other agents is not a new practice.

 

Putting Yourself in the Buyer’s Shoes

What would make you buy your own house? Creating a pleasing experience for your buyers increases the chances of selling. If potential buyers see any damage to the property, that may give a reason for them to negotiate for a lower price.

 

Listen to your agent’s suggestions to decide what works with your current circumstances. These renovations may include patching up any blemishes, scrapes, or holes in the walls, floors, or cabinetry. Doing some repainting could also improve the overall look of the home, as well as replacing some broken items like lightbulbs, switches, door hinges, and the like.

 

Putting emphasis on “curb appeal” is also recommended. Working on curb appeal may entail mowing the lawn, taking out weeds, trimming trees, repainting fences, and replacing a distasteful-looking front door.

 

Once the property is on the market, make it a habit to keep the place clean regularly. If in case a buyer is coming over and you won’t have enough time to make everything perfect, don’t skip out on the visit. The buyer may find another property while waiting for the rescheduled appointment. Doing the small stuff like taking out the trash and keeping personal items out of sight would be fine. Just make sure to inform your agent so they could set expectations for the buyer.

 

Selling for Cash

If you’re not interested in doing all of this hard work, then you might want to look at selling the house for cash! This method is as easy as these three steps:

1. Contact a real estate investor.
2. Wait for them to visit.
3. Get an offer!

 

No real estate agent. No cleaning up. No waiting. All you do is wait for a few people to show up, let them look at the house, and should you accept the offer, get the cash for you to use!

 

Why is it so easy? Real estate investors are in the business of buying and selling properties, so they already know how agents think. There’s no need to renovate because they do it themselves. Dealing with investors can be as fast as a couple of weeks, while selling to home buyers may take a few months, considering that you’d be renovating the house and waiting for potential buyers to come along.

 

What’s the catch? Well, since it’s done so easily, with no added value for the investor, you’re generally going to sell the property at a lower price. Before choosing either one, it would be better to consider your options and see which is appropriately fitting.

 

And if you’ve decided to work with an investor. Your first option’s already here! Shorefront Investments can take the burden off of your shoulders and make your first home-selling experience hassle-free! Just call or send us a message, and we’ll respond as quickly as possible! Alternatively, you can fill out our “Sell My House” form then wait for us to get in touch.