Selling a house
The sale of your home is a life opportunity with a great deal of potential, a chance to make a profit on your investment. The proceeds from the sale will determine how much you can spend on your new home and can provide you with extra money for investing in objectives like education and retirement.
Although it is technically possible to sell your property yourself, you may still want to consider using a real estate agent. Choosing the right agent, and these tips, can help you to successfully sell your house:
- If you are using a real estate agent, remember that you will have to pay fees, in addition to the taxes.
- Be sure that selling your home is the right move for you and your family at this time. Depending on your needs and plans you may also consider renting out your property. Let your LashleyAdvisor help you to decide.
- Begin to learn as much as you can about the house selling process. Discuss with your Lashley Financial issues such as equity, taxes, market conditions, etc.
- Prepare your house for showing:
- Have it inspected. This process can identify problem areas that you should disclose to prospective buyers or that you can repair yourself.
- Make sensible repairs where this allows you to increase your asking price.
- Not everyone will share your design tastes so try as much as possible to depersonalize your décor. Avoid bright colours and exotic ornaments and try to enhance the qualities inherent in the house itself.
- Make a good impression, especially with the bathroom and the kitchen, as these can often be the deciding factor in making the buying decision.
- You can have your house professionally appraised. This will give you an idea of how much you can get based on demand for housing, the price of similar houses and the condition of your house. Use this as a guide for the offer you will accept.
- Hang out your ‘For Sale’ sign. It may be best to let your real estate agent handle the complex processes of advertising, showing and negotiations for you. Maintain open communication with your agent at every step of the process so that your desires are always known.
- Once you and the buyer have come to a satisfactory deal you may begin the process of closure. You should involve your lawyer in this process as you draw up and sign the sale contract. Store carefully any paperwork generated from the sale. Note that, legal fees, taxes and real estate commissions may be extracted from the proceeds.
- You can now replace ‘For Sale’ with ‘Sold’ and begin thinking of moving house.