With springtime finally here in full bloom, homeowners across North America are gearing up for the busiest selling season in the real industry. Buyers are coming out of the woodwork after their winter hibernation, and real estate brokers are listing and showing properties and hosting open houses on the weekends. The housing industry data has been surprisingly strong, with analysts encouraged by significantly higher prices in many regions and a substantial drop in the volume of foreclosures that had been dragging down the market. The number of permits for new construction has also risen, while interest rates on mortgages remain near their all-time historic lows.
To help you take full advantage of the robust selling season, here are three tips on how to sell your home more effectively and efficiently.
Order a Pre-Sale Inspection
After a purchase offer is presented by a buyer, homeowners often wait on pins and needles for the buyer-ordered home inspection report, wondering if the inspection will reveal anything that might spell trouble. Many sales fall apart because inspections reveal hidden problems, and this can come as a disappointing surprise to both buyers and sellers. But you can avoid that kind of outcome, and the stress that home sellers often feel during this phase of the sale, by simply ordering a pre-sale inspection.
Your inspector will look for any issues that need to be addressed such as repairs, so that you can take care of those before you put the property on the market. That way you can generally preempt any potential problems and complete any necessary repairs before buyers ever see the home. That can effectively remove the emotional trepidation that sellers often feel while it simultaneously helps to ensure that the buyer’s inspection does not contain any unexpected revelations.
Boost the Curb Appeal
The value of visual appeal cannot be overestimated, because most buyers react to their first impression of a property and make an emotional decision based on that response. If the house looks fantastic they want to know more and do further investigation. But if they are turned-off by the initial impression of the home they’ll just drive on past without giving it a second thought. Consult with your real estate broker about ways to improve and enhance the look of your home, so that every potential buyer who sees it will be seeing it at its very best.
You don’t have to invest a lot of money. Just concentrate on cosmetic details that will make the home appealing. Sprucing up the yard with flowerbeds, painting or refinishing the front door, and adding a fresh coat of paint to any interior rooms that need brightening up can be sufficient. It’s also a good idea to create as much extra space as possible inside, by getting rid of unnecessary clutter and furniture to open up the rooms and make the home appear more spacious and inviting.
Pre-Qualify All Potential Buyers
One of the biggest time wasters is failure to properly screen potential buyers before signing a purchase contract. Once you have a sale pending other people shopping for homes are discouraged and typically won’t bother to look at your home or make a back-up offer. The property, for all intents and purposes, is basically out of the running. But if the buyer’s financing later falls through then you’re back to square one – after having wasted lots of precious time. It’s harder to lure buyers back after than interlude, and oftentimes this kind of mistake can cost you a month of downtime during the most advantageous sales season.
To avoid this kind of pitfall is easy though, if you will just insist that all buyers first be prequalified by a lender. You or your Realtor can talk to the mortgage loan officer to make sure that there is a high probability that the buyer’s loan application will be accepted. That minimizes the chances of the deal collapsing due to a lack of funding, and maximizes your chances of signing a purchase offer contract that will succeed.