A lot of homeowners decide to sell their home on their own because they’ll have to pay a real estate agent a commission on the sale. However, selling property is a time-consuming and complex endeavor. Making the choice to sell your home on your own can end up being lucrative, but it’s imperative to do it the right way. Here is what you need to do if you plan on selling your home on your own:
Gather the necessary paperwork
Before you begin, make sure you have all the paperwork you’ll need, including the title, legal contracts, insurance paperwork, and any other documents you signed during your closing.
List your home
It’s now time to list your home—but make sure you list it at the right price. You don’t want to price it too low, but you also don’t want to set the asking price too high, either. Look up public property records to see what similar homes in the area sold for recently as your guide. Bear in mind that a lot of variable factors can affect your home’s value. For example, your property will likely go down in value if nearby homes in your neighborhood were foreclosed on. On the other hand, your home may be worth even more than you’d guess if there were a lot of recent sales in your neighborhood. If the current market in your area isn’t too good and you’re not in a rush to sell your home, you may want to wait before listing it, as you may be able to get a lot more for it.
Hire an appraiser
Hiring a certified appraiser can be very helpful when it comes to determining how much your home is worth and what you should list it for. The appraiser will come take photos of your property, look through the home thoroughly, take notes and compare recent, nearby sales when determining your home’s value. After you receive your appraisal, keep a copy on hand to show to potential buyers when discussing prices.
Maximize marketing efforts
A real estate agent will do the marketing for you, so if you’re selling your home on your own, it’s important to go above and beyond just putting out a “for sale” sign. Put ads in the newspaper, online, spread the word through social media and on various real estate websites, and tell everyone you know that your home is on the market.
Get a home inspection
Most homebuyers will want to have a home inspected before buying it, so be prepared. Get it inspected on your own before anyone else does, so in case anything turns up, you can fix the problems first.
Be prepared to negotiate
Unless you’re selling a home in a highly coveted housing market, it’s rare that you’ll receive your asking price. Sellers usually need to be willing to negotiate and part with their home for a lower price if they don’t want to stretch out the selling process. If your asking price is firm, think of other incentives you can offer a buyer. For example, be willing to help with closing costs or include some of the appliances with the sale of your home.
If you need extra cash to remodel a home or to take care of a costly home repair, Peachtree Financial Solutions may be able to help. If you’re receiving annuity or structured settlements periodically, why not turn some of those future payments into a lump sum of cash? Instead of waiting for those payments to arrive, you can sell some or all of them to Peachtree. By purchasing your future payments, we can offer you that money sooner. Receiving a lump sum payment can make it easier to take care of significant expenses or mounting bills. Contact Peachtree Financial Solutions today to learn more about selling future payments for a lump sum of cash.
Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.