This year has been a seller’s market in real estate, which is good news if you are thinking about buying a new home. In 2020, the average home only stayed on the market for 25 days before going under contract. On average, a quick closing can happen in 45 days or less, meaning that your home could sell in just over two months.
Most home sellers already have their eyes on a new home that they want to buy. This desire often creates a sense of urgency to try to sell a home quickly. While the market is hot, it’s possible to sell quickly, but the markets can vary greatly depending on the year, your home’s location, and the current demand.
Whether you sell your home privately or use a real estate agent, your goal is to sell your home as quickly as possible. Let’s take a closer look at the factors that determine how quickly your home can be sold.
Most home buyers are not looking for a fixer-upper when they are buying a home. This means that homes in excellent condition will likely sell faster than those that need repairs or cosmetic work. Buyers want a home that is in move-in condition so they can get settled right away.
Sellers should concentrate on the curb appeal of their home and what the home looks like on the inside. Homes that are cluttered or disorganized are likely to stay on the market longer. It’s important to clean up your house, get rid of clutter, and properly stage your furniture to bring in more offers.
Your asking price will be the only factor that determines how long your home sits on the market. It’s essential to work with your realtor to determine the fair market value of your home. Those homes that are priced closest to comparable properties in the area will likely receive more offers.
You may not realize that the time of year you decide to sell your home can affect how long it will take to sell. In general, many buyers do not start looking for a home until the colder seasons have passed. If you end up listing your home in the winter, you may end up having to lower your asking price to draw in interest from buyers. The spring and summer are more popular months to list your home.
Knowing the housing market condition in your area can give you a clearer indication of when it is an excellent time to sell. If your area has few homes for sale, but the demand is high because those listed are selling quickly, you are in a hot market, and now is the time to sell. If your neighborhood has many homes for sale that are staying on the market for a long time, your area’s housing market may be in a slump.
Every seller wants to get their home sold as quickly as possible while still getting a good price. You will need to consider these factors that will affect how long your home will be on the market. Understanding the market and knowing what factors can delay your sale, you have a good chance of closing your home sale quickly.
Selling your home can be stressful, and more expensive than you may be anticipating. Most sellers know about the common closing costs that are associated with selling a home but don’t consider all the smaller expenses that go into putting their home on the market.
The process of selling your home can be time-consuming. Most sellers spend more than six months from the time they decide it’s time to sell, to their moving date. That is a long time to be embroiled in the costs and preparation for selling your home.
Whether you sell your home privately or work with a real estate agent, you will have to make a plan to pay for all the hidden and sometimes overlooked costs. Let’s take a closer look at what it really costs to sell your home.
When selling your home, you want it to look its best to draw in interest from potential buyers. Preparing your home to list will take a bit of work and money. Most homeowners want to give their homes a deep cleaning, and if you bring in the professionals you may spend up to $200.
Between the costs of renting furnishings for staging, cleaning up your landscaping, and your marketing costs you could spend another $2,000. If you are selling without a real estate agent those costs may be a bit more expensive.
If you have found a new home before your old home sells, you could be on the hook for some extra expenses. You will need to pay for your moving costs or rental prices for extra storage. Your home insurance will need to be updated. Your new policy will not cover your old property as it sits vacant, so you will need to take out a separate policy. Home sellers will also need to maintain the utilities at their vacant home for the benefit of potential buyers that want to tour the property.
In some cases, to be able to close the sale of your home, you may have to make certain concessions to your buyers. Common seller concessions include covering the cost of a home warranty to sweeten the deal. You may also want to cover the costs of post-inspection repairs for your buyers.
The average closing costs from selling your home can reach over 10% of your sale price. Most of that price is in the form of agent commissions that can run north of 7%. Sellers will also have to pay a transfer tax or title fee. The cost of the transfer tax will depend on the tax rate of your state and the final selling cost of your home.
Sellers will also be responsible for title insurance that can range from $1,000 to $5,000. Add your escrow fees and you are in for another $1,000. If you are joining an HOA in your new neighborhood you will have to pay your fees. Sellers that have used the expertise of a real estate lawyer to help them close their sale will have to pay for their fees and retainer costs.
While most home sellers are more focused on the cost of their new home, it’s important to remember that the process of selling your current home can also be expensive. Consider these costs as you get ready to sell your home and make a plan to cover your selling expenses.
Houses fall into disrepair for many reasons. Perhaps an elderly resident cannot take proper care of the maintenance tasks, or the house has been vacant for a period of time and was inherited. No matter the reason, selling a home that is in poor shape can be a challenge.
When you have a home that isn’t in great condition, you need to take a different sales approach. You are not likely to get a lot of offers in the traditional sense; you may get a few from some hearty fixer-uppers that want a challenge, but that’s about it. You will need to target a completely different audience than you would for a normal house sale.
If you have inherited a home that is dilapidated, you don’t want to sink too much money into the property if you are planning to sell. Let’s take a closer look at how you can sell your home that is in poor condition.
When pricing a house that is in poor condition, you will need to consider the amount of expected work that the property requires. Start by looking at comparable properties in any shape in the area. Take the average price and deduct a fair amount for what it will cost the new owners to bring the house back up in condition. You may want to list it at a slightly inflated price and expect to take lower offers from interested buyers.
It’s unlikely that you will get a lot of interest from traditional buyers on a house that is in disrepair. There may be a few lowball offers from DIY buyers that are looking for a cheap price tag and a challenge. Generally, you will need to target the trade end of the market. There are always developers or property investors in your area that are looking to pay cash for houses in any condition. One option is to list your house for auction and let the developers bid for it.
You may have a home that is in disrepair but is on a prime piece of property, or your home may be of historical significance. No matter the circumstance, these are the factors on which you should focus. It’s to your advantage to let potential buyers know what good things the property has to offer and get the attention away from the needed repairs.
Any interested buyers are likely to request an inspection. This means that they will eventually find out about any issues with the house, so it is better to be honest from the start. It is the law that sellers are obligated to disclose the work needed or any structural issues with the home.
If you own a property that is in poor condition, your sale process may be a challenge. Follow these tips to help you navigate the market and close a sale quickly.
If you are getting ready to sell your house, you have a lot of work ahead of you. It’s not enough to post a “For Sale” sign on your lawn if you want to draw in potential buyers. You need to present your home to viewers in the best light. Buyers want to feel like they could move into your home as it is, which means it needs to be perfect.
Along with writing a detailed listing for your home, it’s time to start getting into the selling mind frame. This is a good opportunity to start the letting go process and start looking at your home through the eyes of the buyer. What would you like to see in your home? What needs to be done to make your home look its best?
From boosting your curb appeal to giving every room a deep cleaning, there are plenty of chores to complete before listing your home for sale. Let’s take a look at some of the items on the ultimate checklist for selling your home.
More than half of home buyers claim that they decide about a home in the first few minutes. This means that your home’s exterior needs to make a huge impact. Take a look around your home and decide where you can spruce things up. At the very least, your home’s exterior should be neat and tidy. You can try these things to help boost your curb appeal:
Buyers may be uncomfortable touring through a home that has a lot of personal items. They want to envision themselves in the house, so it’s time to take down some of your items. You should clear out most of your family photos and pack up any memorabilia items that are too personalized. Your goal should be to create a blank canvas where the buyers can imagine their things.
The more things you have in each room, the smaller the space looks. When selling your home, you need to concentrate on the idea that less is more. Cleaner and less crowded rooms will give the appearance of more space. Before you open your doors for viewings, you need to get rid of your clutter. You can declutter by following these tips:
Everyone has their own sense of style, but neutral is the way to go when you are selling your home. You may love your purple accent wall, but it may not be to everyone’s taste. You want to appeal to the most people to increase your odds of getting more offers, so it’s best to cover up any dramatic features and colors. You can use nature-based colors like browns, beiges, and greys to open up your space and create a calm and serene look that will appeal to buyers.
Potential buyers will notice every little detail about your house. If you have been putting off a list of small repairs, now is the time to get the job done. Home’s that have visibly needed repairs may turn off buyers as a poorly maintained home.
Before you schedule your open house, it’s time to give your whole home a deep cleaning. Viewers want to come into a home that looks and smells clean. Focus on your high traffic areas and take care of these cleaning chores:
Preparing your home for sale will take a bit of work. Follow this checklist to prepare your home for sale. You want your home to look its best to draw in the best offers.
A house is typically considered a long-term investment. As a result, homeowners will often spend months or even years sprucing up their property before putting it on the market.
However, despite their best intentions, time is sometimes a luxury that home sellers do not have. If you need to sell your house as-is and fast, then check out our ultimate guide to starting the process today.
There is no shortage of reasons that a person may find themselves in the position of needing to sell their house as quickly as possible. Since a home is typically one of the most significant investments a person can make, selling could be the swiftest way of attaining a sum of money.
There are plenty of websites detailing how a bit of elbow grease can increase the value of your home. However, renovations cost money, and repairs inevitably go over budget. If you aren’t looking to increase your stress, then check out these steps you can take to sell a house quicker without the fuss:
If you price your house lower than the assessed value, you are more likely to have potential buyers knocking on your door. However, don’t forget that if you are working with a real estate agent or property brokerage, then the seller is forking out the commission and most of the costs involved with closing the deal.
Have you inherited a house full of furniture that you don’t particularly want or need? Is your yard equipped for a family, but your children have long since left the nest? If you want to sell your house fast and as is, consider bolstering the deal by throwing in some extras like jungle gyms, pool equipment, large furniture or even a golf cart. It could be the ideal situation if you had no intention of keeping these items.
Typically, real estate agents take 6% commission, and you can be guaranteed that you’ll have people traipsing through your home at all hours on viewings. If you want to avoid all of this fuss altogether, then contact a property buyer i your area. They will generally buy homes for cash and can finalize the offer within a week. You won’t have to do any repairs or cleaning to sweeten the deal.
You never know how long it will take to sell a house once you put it on the market. It’s a delicate balance of price, current inventory availability, and the correct type of buyer. Luckily, there are easier ways of getting your home sold fast and as-is so that you can move on.
There are many uncertainties involved with selling a house anywhere in the world. You may not know precisely what your home is worth, or if potential sellers are willing to make a reasonable offer. With so much guesswork, you need to focus on the issues that you can control.
We have devised a thorough list of do's and don'ts when selling a house in the Golden State. California has some unique laws and requirements when selling a home, so we encourage you to save this page for future reference.
Ironically, sellers often put a vast amount of time and effort into fine tuning a home in time for someone else to move into. However, if you have the time, funds, and inclination to put some work in at the beginning, then it can help your house sell quickly and for a better price. Focus on doing as many activities below as possible before listing your home for sale in California.
Any business or product should always have one eye on the competition. Buyers will be comparing your home to that of others currently on the market, so ensure yours is priced appropriately and is well kept.
Selling your home with a traditional real estate agent is the go-to for most homeowners when it comes time to sell. However, there are now more options available for selling a house in California, including:
· For Sale By Owner or FSBO – You do all the marketing, viewing, and paperwork and keep any commission you would otherwise pay an agent
· Online real estate broker – Typically offer lower commissions but lack personal attention
· Property buyer – Will buy homes quickly in as-is condition, with no need for viewings, staging, or cleaning.
Before you settle on which option is best for your situation, we urge you to look at the numbers and calculate what your time is worth and the cost of any minor or major repairs.
If you want a top offer for your home, you likely will need to put in a fair amount of additional work. Each step can be time-consuming and labor-intensive, so do get to them as soon as possible and ask your friends and family for assistance. Here is our suggested order of what to tackle:
· Do minor repairs
· Take great pictures
Knowing what NOT to do can be equally critical to selling your house; you don’t want to put in weeks of effort only to mess up your chances later on. If you are interested in selling a home in California, don’t make any of these mistakes below:
· Don’t overestimate your home’s worth
· Don’t ignore your agent’s advice
· Don’t leave your valuables in plain sight
· Don’t forget about municipal inspections
· Don’t forget to calculate and pay transfer taxes
· Forget to provide required documents and statements, including Megan’s Law Disclosure, Natural Hazard Disclosure Statement, Residential Earthquake Hazard Report, Buyer and Seller Advisory, and Transfer Disclosure Statement
The process of selling a home in California may appear similar to anywhere else in the country; however, it is essential to note that the state and certain municipalities have different taxes, inspections, and documentation requirements. Be sure to know what is required from the beginning before a deal falls through.
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