4 Questions to Ask Before Selling a Home
Selling your home is no small task! Before putting your home on the market, make sure to get these questions answered.
What is my home worth?
Several factors go into determining your home’s market value. These factors include the condition of the property, square footage, location, amenities, as well as recent comparable property sales. For a snapshot of your home’s current value, you can enter your address into a free online value estimator tool. Alternatively, you can look at a recent property tax bill to get your home’s tax assessed value, which is a percentage of your home’s fair market value. If you know your state’s assessment rate (which is usually between 80 and 90 percent), you can estimate fair market value by dividing your tax assessed value by that assessment rate.
How can I sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your home. These things include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. There are also larger projects like adding bedrooms and renovating kitchens that typically yield substantial increases in sales prices.
How long will my home be on the market?
There is no single answer to this question; it is dependent on multiple factors. These factors include location, how competitively your home is priced, and how aggressively your home is marketed. Statistics show that if a home is properly priced, an offer should come in within the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.
How will an agent help?
A real estate agent helps with all aspects of the selling process; from pricing and marketing to handling the intricacies of closing. An agent will negotiate on your behalf to secure the best price – and quickest sale – possible. Looking for an agent who can help guide you through the selling process? Feel free to contact us!