Selling a home is a huge task. At Holland Homes Sales, we want to make this process a little easier. Although there are many steps to successful selling your home, here are some common questions about the beginning of the selling process.
1. How much is my house worth?
This is clearly an important question, you can’t get too far in the process of selling your home without setting a price. When you hire a full-service real estate agent, they will help you draw accurate pictures of what your home is currently worth. This is important because agents draw upon years of experience, as well as local insight on the price of your home.
If you want an idea of a potential amount for your property, check out websites like Trulia, Redfin, or realtor.com to find prices of homes within your neighborhood and have similar dimensions to your own. While these prices are not going to be a perfect amount, they can give you a ballpark estimate.
2. How long does it take to sell a house?
The official amount is 45-65 days, however, this is not exact. The best answer to this question would be: “it depends.”
If you are selling in a hot sellers’ market, agents will most likely tell you that you won’t be waiting more than 3 weeks. That being said, if you are trying to sell in a buyers’ market your house may be sitting for a month or two before you get an offer.
Ultimately the amount of time you spend waiting for an offer will depend on a variety of factors including inventory, economy, zip code, the season, the price… To learn more about what factors can directly affect the amount of time your house sits on the market here.
3. When is the best time to sell a house?
According to most experts spring is the time to sell. These results come from statistical research and real estate common sense. Listings tend to spike in early April and continue well into the summer months.
Why is spring the best time? Here are a couple reasons:
- Many families are looking for houses around the beginning of spring so that they will be able to close around the same time that school ends or during the summer
- Home have more curb appeal in the spring and summer which leads to better showings and better sales
- Longer days in the spring and summer which creates more opportunities for more buyers to view your home
4. How to increase home value?
There are many ways to increase home value ranging from renovation to simply making your mortgage payments. Some popular ways to increase value include:
- Upgrades to the bathroom and kitchen
- Changing out handles and fixtures
- Adding low-flow toilets
- Painting stain cabinets
- Increasing curb appeal through landscaping
A common theme in simple renovation to sell is to begin by making the outside look good and then focusing on the kitchen and the bathroom. Generally speaking, when these two rooms are outdated they tend to keep a property from reaching its highest evaluation.
It's important to focus on these valuable aspects of the house since you do not want to put more money into the house than necessary to raise the price. Here are 5 proven ways that you can increase your home value according to NerdWallet.
5. How much are closing costs when selling a home?
The homebuyer pays for what are typically thought of as closing costs, which include the application fee, credit report, title insurance, property taxes, escrow fees…These costs will make up about 3% of the selling price on average.
As a home seller you will have to pay some of the costs at the end of the home buying process. According to a study by Zillow and Thumbtacks, the average home seller will spend just shy of five thousand dollars on prepping their home for sale, and over thirteen thousand on agent commission. Keep in mind, these numbers are based on U.S. medians and your own home and costs may differ greatly.
6. What is an appraisal?
A home appraisal is an approximation of your home’s worth. It serves to assure the lender that the property being purchased has a certain amount of value. Ultimately it is an unbiased opinion on the value of a home.
During an appraisal, a licensed appraiser will walk through the entire home and look at the condition of the house. This is unlike an inspection where a professional is searching for parts that don’t work, in that an appraiser is solely looking for a fair value.
Here at Holland Homes Sales, we want to help you through this process and make sure that you secure the right price and buyer for your home. Our licensed professionals are willing and able to help you through each of these steps and inform you of how to make the best sale possible. We know that the home selling process can be complicated and long, we will do our best to make sure that you are satisfied with this experience.