This is a guest post by Andreas at Money Supermarket
When you compare different home loans at and decide you can afford to buy a new house, you may be excited to get moving. However, in many cases, you have to sell your old house before you are able to move on to your exciting new property. Selling a home can be a stressful process especially in a buyer’s market where real estate prices are in a slump.
There are still ways to sell your property (and sell it quickly) but you may need to be a bit more flexible and creative. Here are some tips to help.
Set the price right
The only way you will sell your property quickly is if you set the price right. No one is going to pay more for a property than it is worth. If your house is priced more than surrounding homes in your area, there needs to be a good reason why.
Even if someone falls in love with your house, the bank or mortgage company will still need to appraise it and determine its worth and if it doesn’t appraise for high enough, the deal might not go through.
An experienced realtor can help you to decide where to price your property by looking at comparables in the market place. Comparables are similar homes with similar amenities and features. If you want to make sure your home sells really fast, you might want to price it a bit below where the comparables suggest it should be priced.
You want your home to look its best when people come to take a tour of it, especially if selling quickly is your top priority. In order to make sure that buyers fall in love with your house, it should be staged appropriately.
This means you should clean up clutter, try to highlight the best features of the home and put away personal belongings so that buyers can see themselves living there. Cleaning up clutter means clearing out closets as well as cleaning up the main areas of the house. An over-stuffed closet makes a buyer think that they will have storage problems in the new home, which is a big turn-off.
You want your house to generate excitement on the market if you need it to sell quickly. There are a number of different techniques that you can use in order to do this. Some people will offer an incentive to the buyer’s agent who brings them a buyer, such as a gift or a bonus.
Some people offer something to the buyer themselves, such as a free flat screen TV, for example. Some people will also hold special open house events where there are activities or other incentives to come, such as a raffle prize for attendees.
It is up to you how far you want to go to generate excitement surrounding your house, but if it is sitting stagnant on the market at a time when you need to sell it, doing something to shake things up a little bit can be essential.
Be Flexible and Ready to Move
Another good way to make sure you sell your house fast is to be willing to be flexible. Be ready to move if a buyer wants to get into the property quickly and have a short closing date and be prepared to work to their schedule.
You can make sure you are ready by doing your homework beforehand. This may mean taking the time to compare loans at moneysupermarket before putting your home up for sale, to see what you can afford.
Image by woodleywonderworks