Congratulations! All of the contracts have been signed for your home to hit the market. The #1 question to follow is certainly, “What now?” The process of preparing your home for sale can be overwhelming. In order to keep everything on track, it’s crucial to have a plan that maps out what must be done. Below is a template of recommended steps to follow:
Deciding When To List
It’s a common understanding that spring and summer seasons are the hottest for real estate. However, in today’s market, that’s not necessarily true. The market is still currently active and steady. We don’t necessarily know how it will be affected by the holiday season, so listing prior to that is more ideal rather than rolling the dice.
Consider Home Warranty
Obtaining a home warranty is highly beneficial, especially when you desire to sell your home. It is very reassuring to a buyer in the sense that it covers the expense of costly mechanics. For example, heating, electrical, plumbing, water boiler, appliances, etc are all included. During inspection, your buyer is permitted to request money or the replacement of certain items if it’s not up to par or broken. Of course it’s the sellers decision if they wish to meet what is being asked. Having that home warranty will save the headache and the constant back and forth. It would definitely help in giving the buyer a peace of mind so they’ll be less likely to nickel and dime you during the transaction.
Consider Sellers Shield Protection
Applying for a seller’s shield is highly recommended. It protects home sellers in the sense that it helps prevent lawsuits and provides assistance to the seller if one happens to occur. A lot of the time, houses have unknown defects that the sellers are not aware of right off the bat. When the buyer starts to complete renovations or gut the house, drastic red flags may be encountered. These may include foundational issues, mold or termites. The protection plan wouldn’t allow the buyer to go after the sellers in a lawsuit down the line.
Any repairs or refurbishments you make prior to selling like replacing an H-VAC system, kitchens, bathrooms and windows can positively impact your home’s value. Despite the fact that renovations can be costly, having them done prior to a sale may be beneficial in the long run. But, that’s not to say that renovations must be done beforehand. In today’s market, certain upgrades might not justify the cost and you will end up spending more on renovations that don’t necessarily increase the home’s value. That would defeat the whole purpose. Selling your property as-is could be the best route to take. Always consult with your local real estate agent to understand which replacements will make the most financial and substantial sense.