Selling? Here are 4 questions we hear regularly...and the answers!

Selling? Here are 4 questions we hear regularly...and the answers!

How do I determine the value of my home?

You are not the one who decides the value of your home-- the market does. Location, condition, competition, and lending/mortgage rates are all factors that determine the value of your home.

Can I still sell my home even if I have only lived there for a short period of time?

You can sell whenever you wish, but you will more than likely lose money if you buy a home and sell too quickly! The payments you make in the early part of your loan mainly go to the interest portion of your loan, not the principal. If you sell early in the process, unless you have made extra principal payments, got the home at an extremely low price, or made a large down payment, you will most likely have to bring money to the closing table in order to sell.

What should I consider when selling a home?

The most important factors are condition, price and exposure. We look for areas where we can cosmetically add value. A great example would be painting the front door to prepare for sale; you can then seek to settle on a preferred listing price. Finally, to ensure exposure the home needs to be seen: be it open houses, broker open houses or attention from marketing -- great advertising across all mediums only adds to a home's bottom line.

Should I make the repairs?

Since buyers often include a contingency inspection clause in the purchase contract which allows them to back out if numerous defects are found, completing minor repairs before putting the house on the market may lead to a better sales price. Part of what we offer is to help the sellers to come up with a strategy to avoid potential issues.

If you have questions about buying, selling, leasing, or real estate in general, just give us a call! We love to help.