Carla Ness' Blog
After you accept an offer on your house, what happens next? Ultimately, there are several steps that will need to be completed to finalize a home sale, including:
1. Completing a Home Inspection
A home inspection may be completed only a few days after you accept a homebuyer's offer. This evaluation enables a homebuyer to conduct a thorough examination of all aspects of your home, and if necessary, rescind or renegotiate a proposal.
For home sellers, it is paramount to maintain a direct, upfront approach with homebuyers. If you are honest with homebuyers from the get-go, you may be able to avoid problems when it comes time to complete a home inspection.
With an experienced real estate agent at your disposal, you should have no trouble establishing realistic expectations for your home. Plus, your real estate agent will offer recommendations for home repairs and upgrades, ensuring that you can complete the necessary home improvement tasks before you add your residence to the real estate market.
2. Performing Home Repairs and Upgrades
If a homebuyer discovers major problems with your house during a home inspection, he or she may request home repairs or upgrades. In this scenario, you may be required to perform various home improvement tasks to finalize an agreement.
Home improvement tasks can be expensive and time-consuming, but they sometimes are necessary to ensure that you can reach the finish line of the home selling process. If you ever have concerns or questions about home repairs and upgrades, your real estate agent should be able to respond to your queries at any time.
Furthermore, if you feel like a homebuyer's home repair and upgrade requests are unwarranted, you can always decline these requests. If you choose this option, however, the homebuyer could rescind his or her offer on your home, and you may need to restart the home selling process from stage one.
On the other hand, you can always try to negotiate with a homebuyer. For example, if you offer to lower the price of your house after an inspection, you may be able to speed up the home selling cycle and avoid making a significant time investment to perform property repairs and upgrades.
3. Packing Up Your Belongings
After a homebuyer finishes an inspection and agrees to purchase your home in its current condition, you'll be able to set up a closing date. You'll also need to consider where you'll go next and plan accordingly.
Packing up your belongings is essential, and you may want to put various items in storage if you plan to live in temporary housing in the foreseeable future. In addition, you'll want to set up plans to get all of your belongings out of your residence before the closing date to ensure that the homebuyer can move into the house on schedule.
Selling a home may seem tricky, especially for those who are uncertain about how to navigate the home selling process. Luckily, your real estate agent is happy to support you in any way possible. As a result, you can work with your real estate agent and guarantee that the home selling process is completed quickly and effortlessly.
Whether you're selling a home or buying one, the amount of storage space a house offers can have a major impact on its perceived value. Even if you're a first-time home owner who hasn't had the chance to accumulate a lot of clothes, household supplies, and other possessions, you can be sure that's not a permanent condition -- especially if you have a growing family!
So if you're looking for a new home to settle into, storage space will become increasing important. If, on the other hand, you're preparing to sell your home, then showcasing and enhancing storage space will help increase its marketability.
Everyone Loves Big Closets
Walk-in closets are considered a highly desirable feature because they not only accommodate a large and growing wardrobe, but they offer a lot of functionality from shelves, compartments, and other storage areas. They can also be customized to suit individual needs and preferences. The fact that walk-in closets are separate from the master bedroom also creates a feeling of spaciousness and luxury. The additional space and storage features make it easier to keep clothes organized, fresher, and in better overall condition. If clothes are squeezed together in a small closet, they tend to wrinkle faster, become mustier, and are harder to find -- especially when you're running late for an appointment!
Other Valued Storage Areas
Basements, attics, backyard sheds, and two-car garages are great places to store sports equipment, tools, supplies, appliances, old furniture, toys that your kids have outgrown, and other items you're not quite sure what to do with. The big challenge is to avoid accumulating clutter and hoarding things you don't need. Finished basements and attics are especially appealing to many home buyers because they provide additional living space and are more aesthetically pleasing than unfinished areas.
Basement Problems and Remedies
One cautionary note to keep in mind when storing things in a basement is that excess moisture and humidity can wreak havoc on everything from photo albums and old books to musical instruments and framed paintings. One solution is to monitor the moisture level with a hygrometer and install a dehumidifier to extract excess moisture from the air. While other measures may need to be taken to assure a dry basement environment, these two steps should help improve conditions dramatically. If mold is present on your walls, wood structures, or cardboard boxes, then you can be sure it's not a favorable environment for storing anything of value. Most wet basement problems are correctable, but professional and sometimes expensive solutions often need to be sought.
So assuming you don't have water in your basement and bats in your belfry, then lots of storage space will make your home easier to sell and more enjoyable to live in!
A home repair checklist can make a world of difference for any home seller, at any time. With this checklist in hand, a home seller can prioritize assorted home repairs. Plus, a home repair checklist helps ensure that a seller can enhance his or her house before adding it to the real estate market.
Ultimately, there are several items to include in a home repair checklist, such as:
1. Inspecting and Repairing the Roof
If you notice damaged, loose or missing roof shingles, you'll want to repair or replace these shingles immediately. That way, you can improve your home's roof – something that may make your house more attractive than others to dozens of potential buyers.
Remember, many homebuyers don't want to deal with the hassle of roof repairs. If you allocate the necessary time and resources to repair your roof today, you can include details about your upgraded roof in your home listing. Thus, roof repairs may help you increase the likelihood of a fast, profitable home sale.
When it comes to roof repairs, it often pays to hire professionals. Reach out to local roof repair companies, and you should have no trouble upgrading your house's roof.
2. Sealing Cracks and Gaps in Windows and Doors
Cracks and gaps in windows and doors can cause warm or cold air to leak outside a house. As a result, these problems can drive up a homeowner's monthly heating and cooling bills.
Fortunately, sealing cracks and gaps in windows and doors can be quick and easy. In most instances, caulk or weather stripping can help minimize these issues. Or, you can always reach out to local contractors for professional assistance as well.
3. Power-Washing Windows and Siding
Your home's curb appeal can have a significant impact on how quickly your residence sells. If you power-wash your residence's windows and siding, you can instantly boost your home's curb appeal and help your residence stand out to potential buyers.
Oftentimes, you can rent a power-washer from a home improvement store. You also may choose to buy a power-washer; by doing so, you can use your power-washer both now and in the future.
A home repair checklist is a must-have for home sellers, regardless of the current housing market's conditions. If you need extra help determining which home repairs to complete prior to listing your residence, you may want to collaborate with a real estate agent too.
By hiring a real estate agent, you can receive expert guidance throughout the home selling journey. A real estate agent can put you in touch with the best local contractors to help you finish myriad home repairs. In addition, a real estate agent will help you promote your residence to the right groups of buyers and ensure that you can generate substantial interest in your house.
Ready to sell your house? Include the aforementioned items in your home repair checklist, and you can upgrade your residence in no time at all.
As a home seller, there is always a chance that you may receive a lowball offer on your house. When this happens, you might feel disappointed and frustrated and be ready to move on to the next offer. However, a lowball offer may set the table for a negotiation, particularly for a home seller who knows how to respond to this proposal properly.
Ultimately, it is important to assess any offer on your home, even if this proposal fails to meet your initial expectations. And even though it may be tough to take a lowball offer seriously, you'll want to consider the pros and cons of it before you make your next move.
What does it take to assess a lowball offer on your home and counter it accordingly? Here are three tips to help a home seller do just that.
1. Stay Focused on Your Goals
For home sellers, you want to sell your home, maximize its value and move through the home selling process as quickly as possible. As such, you'll want to keep these goals in mind any time you receive a lowball offer.
If you receive a lowball offer, remain focused on your goals, and try not to get too emotional about it. With this approach, you'll be able to remain calm, cool and collected and respond to the proposal without the risk of burning any bridges between you and a potential homebuyer.
2. Respond to the Homebuyer's Offer
What you might consider to be a lowball offer may be a fair proposal in the eyes of a homebuyer. Thus, you should respond to a homebuyer's proposal, regardless of whether you consider it to be a lowball offer. By doing so, you may be able to open the lines of communication and help the homebuyer better understand what you consider to be a fair price for your residence.
After you receive a lowball offer, you may choose to pass on it and can relay your decision through your real estate agent. In this scenario, you can let the homebuyer know that you appreciate his or her offer but are going to pass on it. That way, you can decline the proposal politely and await offers that fall in line with your expectations.
Comparatively, you might decide to counter a homebuyer's initial offer, and your real estate agent can pass along the information about what you would be willing to accept for your house. By countering a homebuyer's offer, you may be able to begin a negotiation that could help you accelerate the home selling process.
3. Establish Realistic Expectations
Pricing your home competitively from the get-go is paramount for any home seller. With a competitive price, you'll be able to set realistic expectations for homebuyers and may be able to avoid the risk of receiving a lowball offer entirely.
When it comes to determining a fair price for your house, consult with your real estate agent. Remember, your real estate agent possesses industry experience and can help you set a fair price for your house based on the current real estate market's conditions.
If you plan to sell your home, it may be helpful to prepare for a difficult negotiation with a homebuyer.
Although your home may be in great shape and you've set a fair price for it, there are no guarantees that you'll be able to avoid a long, complex home selling negotiation. However, a home seller who prepares for a difficult negotiation now may be better equipped than others to remain calm, cool and collected throughout the home selling journey.
Now, let's take a look at three tips that home sellers can use to get ready for a difficult negotiation.
1. Assess the Housing Market Closely
A home seller who sets a competitive price for his or her residence may be able to avoid a complicated home selling negotiation entirely.
To determine a fair price for your house, a property appraisal is ideal. During this appraisal, a property inspector will evaluate your home's interior and exterior and help you identify any problem areas. Then, you can complete assorted home improvement projects and price your house accordingly.
Furthermore, it is important to assess the prices of comparable houses in your area. With this housing market information at your disposal, you can enter a home selling negotiation with data to support your arguments.
2. Understand Your Home Selling Goals
How a home seller approaches a negotiation may vary based on his or her goals.
For example, a home seller who needs to move out of a house as soon as possible may be willing to go above and beyond the call of duty to satisfy a property buyer's requests. By doing so, this home seller can speed up the property selling cycle.
On the other hand, a home seller who can afford to be patient may be unwilling to budge on various homebuyer requests.
Consider your home selling goals closely before you enter a negotiation with a homebuyer. And if you feel uncomfortable, you can always walk away from a negotiation and reenter the housing market.
3. Focus on the End Results
A home selling negotiation can become contentious, but it is important to remember the end goals of this negotiation.
Ultimately, a successful negotiation will meet the needs of both a property seller and buyer. If a negotiation heavily favors a homebuyer, a home seller should be ready to exit the negotiation.
A home selling negotiation can be stressful, and you should be ready to take breaks as needed. For example, spending a few minutes meditating or walking outdoors may help you clear your head and reenter a home selling negotiation with a fresh perspective.
Lastly, if you want additional support, real estate agents are happy to help you. A real estate agent knows what it takes to negotiate with homebuyers and will do everything possible to ensure all parties involved in a negotiation get the best results.
Take the guesswork out of a home selling negotiation – use these tips, and you can prepare for a difficult negotiation before you add your house to the real estate market.