There are four key items that need to be planned out when selling your home. First, know your time frame. Second, know what comes after the sale. Third, prepare the home. Fourth, understand this is an asset and choose how you will be involved.
Knowing your time frame when selling may be the most crucial decision. This will enable you to look for your next purchase whether it’s another home you plan to live in or another investment home. We have all heard before that you make money when you buy. Even if this will be your next dream home, having the time to negotiate on the purchase price, upgrades, amenities, closing date, and many other opportunities are best done without the pressure of time. I personally believe the party who can walk away with the least amount of heartache negotiates on the side of control.
Knowing your next purchase or move after the sale is equally important. What do you plan to do with the funds? Will you be buying another home, paying off debt, or saving the money? Should you contact your CPA or estate planning attorney to discuss taxes or ownership issues?
By having a plan and working the plan, you will have time to prepare the property to sell. Whether you plan to perform general maintenance, upgrades, renovations, or a simple scrubbing, you need time and resources to ensure everything is completed before marketing the home for sale. Getting the home ready to market will not only affect your sales price, but the amount of time the home is for sale.
The fourth item is really determined by your comfort level, skill, and desire. What really needs to be done to the home to get the home sold for the highest amount in the least amount of time? Pricing the home correctly and having the ability to relay that to buyers and agents is critical to the sale. Selling a home isn’t a 9-5 endeavor. The buyer could come forward in hours or months. Being available and prepared is key to a profitable and quick sale.
Feel free to give us a call, text, or email if you have questions or need assistance with the sale of your home.