Basic Concepts To Consider When Selling A Home

Home buyers with children normally begin their search for a home in spring

, and their goal is to be closed by summer and move into their new home, just in time for their kids to begin school. Sales normally decline until late January to mid February and pick back up from there. Most agents suggest their clients to buy in the off season, since there are fewer buyers competing; there is a much better chance they will land a great deal from those who are trying to sell a home.

Make sure your job is secure and evaluate your credit rating-Banks and lenders have raised lending standards for borrowers due to the default rate on home loans. On average, a home buyer would need a FICO score of about 620 or higher to get the best mortgage rate. Prepare and Plan for your down payment-Home buyers will typically need around 3.5% down payment to get into a home.

Don't forget to look at foreclosures-The abundance of foreclosures means there are many bargains on the market for home buyers. Keep an eye on Federal incentives For example, the first time home buyers tax credit, which gave new homeowners an $8,000 credit on their income taxes.

Selling a house in a buyer's market can seem like an overwhelming task, but with some time and effort you can sell your house while avoiding expensive real estate commission fees. After some research, property preparation and advertising you will be ready to negotiate and close your sale!

When it comes to preparation for selling a house, the first thing to change is your mindset. Try to view the property as a potential buyer would view it. Remain objective, not emotional. Proper research and preparation will transform your home into a desirable turn-key property. Selling your home ready for immediate use can be vital; most potential buyers do not want a house that requires work unless it is a bargain.

When first preparing to sell your house; create a list of repairs and improvements that are needed. Hiring a home inspector can save time and money, and asking for a neighbor's advice can give an unbiased view of what potential buyers may think. You may feel like there could be endless updates and improvements to be done around your house. Don't know where to start? Remember to keep it simple.

When selling your house, remember that the curb appeal can encourage or detour potential buyers from wanting to view the inside. Keep the lawn mowed and the landscaping maintained. Touching up the exterior window trim, front door, and mailbox with a fresh coat of paint can give the property a new crisp feel.

When preparing to show the interior of your home to a potential buyer; make sure they enter into a clean, inviting space that is free of personal items and clutter. Remember, buyers are only spending a couple of minutes in each room, so there should be a balance of open space as well as a "memory point" to draw one's focus to the appealing aspects in the room. This lets potential buyers envision the home as their own as well as create a lasting impression.

If you are short on time or selling your home on a budget, you may be wondering which room is the most important. Freshen up the paint throughout the house, but the main focus should be on the heart and soul of the home. The kitchen is where families gather and memories are created. Add a fresh coat of paint for instant warmth; and subtle changes like new hardware or lighting fixtures can have a dramatic effect.

The final step in preparation for selling your house is to take photos and a walk-through video of the property and each room inside. These photos and videos are important as you begin to prepare to effectively market and sell your house; which we'll cover in "Tips for Selling a House in a Buyer's Market" Part 2: Marketing Your Home.

by: Leo Kingston

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