What Questions to Ask Before Listing Your Home
As one of the most important financial moves you can expect to make in your life, selling your home can turn into a full-time project. As there are not a lot of home listings in the Lehigh Valley as of September 2020, it appears you have a competitive advantage in the real estate market. However, that is not true unless you know what questions to ask before listing your home.
When Should I List My Home?
They say timing is everything, and the axiom has special relevance when listing your home. According to a study released by ATTOM Data, May, June, and July represent the best times of the year to list a home. For example, homes listed in May generate seven percent more in sales than the sales generated by homes during other times of the year. You also have to take into account the condition of the local real estate market and the status of your finances.
How Long Do I Have to Wait to Sell My Home?
Research released by the National Association of Realtors demonstrates the national average houses remain on the market for 62 days. However, the amount of time a home stays on the market depends on the state where you live. Vermont homeowners have to wait an average of 186 days, while homeowners living in Washington can have their homes off the market within an average of 37 days.
How Much Can I Expect to Pay for Listing My Home?
You have to factor in several costs associated with selling your home. The following home-selling expenses should not exceed 10 percent of your home’s listed sale price,
Realtor commission
Preparing your home, including a major home improvement project
Repairs
Seller concessions
Closing
Do I Need to Make Repairs Before I List My Home?
Most home buyers want a house that is ready for move-in. They do not want to repair anything before they sign on the dotted line. This means you need to take care of all repairs before you list your home. Making smaller repairs can improve the aesthetic appeal of your house while addressing major repair issues dramatically improves the functionality of your home. For a major repair issue such as a damaged roof, you should consider hiring an independent contractor to get the job done right.
How Do I Place a Value on My Home?
Two primary factors come into play when you determine the value of your home. First, you can compare your house to other homes of similar size and condition in the neighborhood where you live. Second, you should also conduct research online by utilizing tools that ask for data to calculate home values. If you work with a state licensed real estate agent, he or she can provide an accurate assessment concerning how much your home is worth.
Speaking of a Real Estate Agent, Do I Need One?
In addition to giving you accurate data when it comes to the value of your home, a real estate agent can do the legwork required to attract interested buyers. This includes listing your house, scheduling daily showings, offering tips for staging, and advising you during the closing process. However, all that help comes at a price, which you need to balance against the other costs associated with selling a home.
When Do I Request a Home Inspection?
You can request a home inspection before you list your house, but the request typically comes from the buyer after making an offer. The buyer hires an independent local home inspector to evaluate your property. Possible outcomes of a home inspection include giving the buyer a few credits for repair work or having the buyer sign off on closing the deal.
What Happens When My Home Does Not Sell?
The simple answer to this question is do not panic. Market conditions might not be favorable for home sellers, which means you need to remain patient by not lowering the list price and adding amenities that cost you more money. You can work with a different real estate agent, but then you have to start the listing process all over again.
Should I Take My Favorite Home Feature?
It is tempting to take a memento with you to your new home. The answer to this question is anything that is attached needs to stay at your former home. This includes blinds, curtains, light fixtures, and built-in shelves.
Whether there are dozens of homes listed or just a few listed in Lehigh Valley, knowing what questions to ask before listing your home goes a long way towards determining how fast you sell it.
