Questions To Ask Before Selling Your Home
Selling your house is an exciting prospect but there are some important questions you should be asking before starting the process.
To make sure your sale goes by smoothly whilst maximizing profits, you need to be prepared. This is especially important for first time sellers as selling without the knowledge of the selling process and order of events can be a nightmare for anyone.
When selling your house it really isn’t as simple as just putting it on the marketing and waiting for the potential buyers to roll in. There are some important decisions to be made that include when to sell, how to sell, and at what price. Other lesser-known factors also come into play that determine whether your house actually gets sold, this is where the importance expertise of the right Real Estate Agent comes into play.
If you’re looking at selling your house, make sure you check out these 3 important questions before moving ahead with the process.
#1 Best Time To Sell?
It is fair to say you can sell your home at any time of the year, but during the spring and summer season selling is typically faster, easier, and more profitable.
People are more prone to homebuying in the spring and summer with sales cooling down in the fall and winter. Studies have shown that the hottest months for selling are usually May, June, and July.
However, real estate is a localized industry and usually, the best time to sell depends on your local market. It’s worth assessing whether your local area is in a buyers or seller’s market, if in a seller’s market you are likely to maximize your profits and sell quickly. This all depends on how in-demand real estate is currently in your local area.
The best time to sell will be determined by the time of year and how the market conditions are in your local area. It’s worth looking at your local market to see how many active listings there are before deciding to list your house.
#2 How Much Is My House Worth?
The main factors to determine how much your house is worth are the following:
1) The homes condition
2) The demand for homes like it
3) The location/neighborhood
One of the best ways to understand how much your house might be is to look at comparable sales. When looking at these comparable sales look at homes of similar size and condition.
#3 How Much Will It Cost To Sell My House?
When selling a house there are many costs to consider, but the good news is that the majority of these costs won’t be out of pocket expenses. Many of the costs incurred in the selling of your house will come out of the sales proceeding once sold.
The main costs that are likely to occur are real estate agent commission, prepping your home for sale, home repair costs, seller concessions, and closing costs. In general, you will pay around 10% of your homes final selling price to these costs.
Contact a Real Estate Agent
If your looking at selling your home the next step would be to contact a real estate agent that can guide you in your home sale.
A real estate agent can list the home for you, coordinate showings, market the property, and walk you through all the way to closing. Real estate agents will also have the added benefit of knowing the local market to help you price and market your home accurately.
Jinder Dhillon has over 10 years of experience in Real Estate, helping people find their perfect home. Jinder has sold over 100+ properties across Greater Vancouver and has been a member of the Real Estate Board of Greater Vancouver since 2010.
Contact Jinder Dhillon today here and he can provide expert advice helping you to find the right home for you and your family.
By Mark Ollerton - Freelance Writer