If you’re in the market of selling your house looking for cash house buyer and getting your deposit back (or a good chunk of it) on time, be sure to ask any and all the right questions so that you don’t miss out on getting what you deserve.
Let’s be honest here, you’re probably not a pro home seller. You don’t know what you’re doing. It’s only natural that you’re intimidated by this process, which really isn’t as painful or daunting as it sounds.
It’s kind of the same process of buying a home too, except you don’t have to put your life savings on the line to do that.
It doesn’t matter what you’re selling, just be sure you’re a pretty cool customer and you won’t miss out on getting what you deserve – at least not too much. We’ve rounded up some of the most important questions you can ask to speed up the whole process. It can be an eye opening experience.
Let’s get started, shall we?
How Much Is My House Worth?
Before you even begin the selling process, the first question you can ask is how much is your house worth? You want to know the amount of cash you’ve got in that house that you’re about to sell or rent out. There are different ways to determine your home’s value. One is the real estate agents selling price, which is a fair value. The other method is market value, which takes into account the average price of homes in the same area. If you’re really desperate to have cash flow fast in the next 30 days, you could always put a price that far below market value to really get some attention. But that’s a gamble.
There are many websites that do an estimate of your home’s value, including Zillow, or even a quick look on the internet, will give you some great info on it. Just be sure to do your homework.
Are You Ready to Go Solo?
Before you set your capitol and head out to make some sales, you must remember to check with your real estate agent. They’re a natural to ask about selling your home. While you can learn some basic home selling skills, you don’t know where to look, what to focus on and how to get the process rolling until you discuss your real estate agent with your agent.
To be sure, most people make mistakes. If you do not use your real estate agent for guidance, no one else can save you from making a critical mistake. Having said that, you want to understand how to sell a home effectively without a real estate agent. There are several things you could do:
- Do The Things That Make A Difference
You can set up ads in the newspaper as well as various other media avenues to help entice buyers to your listing. You can write a compelling offer using a home appraisal. To help sellers who are listing their homes for the first time, you can have an internet ad to attract and retain buyers. An advertisement maker can be of great help here. Or, your real estate agent can provide you with the tools to attract buyers.
There are many things that can go into attracting buyers, and none of them include finding an agent for the sole purpose of marketing your home. If your home is in a bad neighborhood and in a less desirable area, you will need to work with a real estate agent who can help you maximize the profit potential of your home.
- Get A Good Agent
When your real estate agent shows the houses that look the best, they can set up ads in the paper, do social-media marketing as well as help potential buyers who want to see your house. They can help you negotiate on the best offer and also help you to know what terms you need to write in a written offer and when the right time to list is.
- Be Prepared For Negotiations
In almost every sale, there has to be some type of negotiation between you and the person to buy your house. They might see the house for the first time and want to take a look at it. This is where your real estate agent serves an important function. Let’s say that you want to list for $400,000. Your real estate agent can give the prospective buyer what he needs in order to write you a check. This is called a “counter-offer”.
- Do It For Free
Not every real estate agent is going to tell you this. If you are listing your home for $400,000 and you take the person who writes you the check to see your house and he signs, you will have zero chance of selling the home for $400,000 even if the other offers at the time are well over $400,000. Your agent is going to tell you, “Hey, why don’t we take the person who writes us a check to see the house so that you don’t have to pay us the money to come see your house.” Well, it’s a good deal for your real estate agent, but not such a good deal for you. You have to understand that the agent is working out of a commission to earn out the commission that the agent receives. If everyone who has interest in your home does not go through your agent, they never collect commissions and the agent earns nothing.
The more interested the agent presents you as the seller, the more he or she is going to ask you to put your life savings, $50,000 or more, into the property. In fact, your agent will look for a home that’s a great deal, so what kind of house will they take? If they like it, they are not going to like to give it back to you after they have taken your money. It’s not out of the norm for a real estate agent to ask if your life savings are tied up in your home.
The bottom line is that your home needs to be worth enough that there is good profit potential for you in the process in addition to the amount of money that will be spent to bring the home to market. Of course, you need to be comfortable that there will be enough in the sale that will cover all the costs including the real estate agent’s fees.
What to Do If You’re Paying Too Much?
Most sellers have a specific price they’re willing to take for their house, which they usually set about a year and a half ago. But sometimes, you can still get a good return without selling for that amount. Most places have a maximum price per square foot, so knowing what that price is and what is a good number in your town will tell you how much money you can make.
For example, $60 a square foot is the number most people are shooting for. But there are different price points. There are a few factors that will help you determine what you’re worth to potential buyers. First off, location, in different areas of the country, has a huge impact on value. As you look into the area, make sure you’re familiar with it. If there’s a particular area you like, but it’s too high a price point, see if you can get it for a little less. And lastly, just find a good home inspector. You’ll know if there are any major issues with your house that you may not even be aware of, which could really hinder your chances of getting the right buyer. You’ll want someone to inspect that property to make sure everything is in tip-top shape. It’s as easy as having a property inspection done, it’s almost a necessity now.
