When comparing the condition of your property to others, it is in your best interest to compare the features and condition of your property closely and honestly with the properties that most recently sold within your nearest geographic area. One of the biggest mistakes that sellers make is they only compare their property to others that are currently for sale, not knowing that many of those proper-ties will not sell and expire on the market. They may be at the wrong asking price because the com-petition offered a better combination of features and condition. All property sellers should take the time to study the true and complete market evidence and begin to prepare for a sale.
Identify Your Problems Via A Seller Home Inspection
The best way to prevent a surprise at your home inspection is to complete one yourself before the buyer does. By doing your own inspection of your property, you can identify any problems in advance of the buyer’s inspector finding them. That allows you an opportunity to be proactive in improving the condition of your property and move up the value range prior to the sale.
Completing Low To No Cost Projects
The reason a property seller should make the effort to complete these projects is because buyers will psychologically begin to discount the price they might offer, the more they notice the need for repairs or improvements. When you’re selling, the last thing you want your property to be called is a fixer upper, and yes, even small touch ups can be perceived as problematic by the most discriminating buyers. You will certainly improve the value of your property by completing low to no costs projects, so don’t sweat them, just complete them or have them done for you!
Price Out Any Deferred Major Upgrades
One of the biggest obstacles or sticking points revolves around whether or not major projects such as kitchen and bathroom renovations should be completed. If they are in your budget, then all major upgrades should be considered, however, these projects should be completed in a simple, neutral style to please a wide array of tastes. When it’s not viable to complete major renovation projects, the best step it to have them professionally priced prior to sale. Have the estimate readily available for all buyers to review so they are fairly accounted for during the negotiation stage, rather than over estimated by the buyer. Whether you complete any of the project suggestions, the single most important effort must be made to...
Professionally Deep Clean Your Property Inside & Outside!
A critical mistake that property sellers make is not having their property professionally cleaned inside by a professional cleaning service - think lemony fresh – and outside by a landscaper - think curb appeal. No buyer wants to move into somebody’s mess unless they’ve received a corresponding discount on the purchase price, which is usually much greater than the cost of hiring cleaning professionals. Even in cases where there is no ability to complete projects as mentioned, a thorough deep cleanse can be transformational. The final sale price of a property has much to do with the sensory perception of the buyer where “clean equals peace of mind” and that translates to a higher sense of value and shows pride of ownership.
We understand that evaluating which projects you should complete can be daunting. We are experienced in this and have a large network of industry professionals available, so feel free to contact us to arrange an in home consultation on how to improve the condition of your property.
Understanding how to improve the condition of your property will bring us to course module #3, where you will begin to properly stage your property to increase its value.