For most individuals buying and selling a home is the largest transaction of their lives. Whether you have been a long time owner or a savvy investor it is important to be informed. While Sellers have a number of concerns the most obvious would be how much can I walk away with after my house has sold? Which makes being informed on the Current market conditions, Recent area sales and Property presentation important. All of these factors will play a large part on what you eventually sell for.
So many factors to consider. Are you purchasing again? Maybe your selling your home for $400,000 and your moving up to the $650,000 level. While the $400k market is moving very fast and the $650k price point is moving much slower. Therefore there might be situations to capitalize on to sell for maximum and buy at a discount. Certain suttle differences can really affect your long term investment goals. A good Realtor will sit down and listen to your goals and help point out the positives and negatives and derive a plan that works for you as well as makes good investment sense. Good planning goes a long way.
There is no doubt selling your home comes with expenses like laywer fees, realtor commissions, Real Property Reports are to name a few. The trouble is most Sellers focus on the expenses and do not realize the advice gained from experience Realtor can save you above and beyond those expenses and leave you with more in your pocket. Interview a few Realtors to determine who is right for you. See our 5 step guide on selecting a Realtor to list your home.
While many options are availabe for a seller to choose from the least recommended would be to attempt it yourself. The risk levels go up tremendiously as well as you will often will be left with less in you pocket. I completly understand that some people dislike working with salesman or Realtors. I am one of those people. I cannot stand when you walk into a store and the salesman is on your heals within minutes. All I can say is not every salesman or Realtor is a cheese ball. Not every realtor needs to see his or her face on a bus bench rather than marketing the properties he or she is actually trying to sell. This is a common mistake. Just because you see someone on a bus bench does not mean they are the area expert. Proof is in the pudding, look for the SOLD signs, Ask Friends for a refferal but above all speak with more than one.
The Negatives of doing it yourself... I have helped many buyers purchase homes from private sellers and I have one example that sums up the experience... My buyer went pending on a home in a sought after neighborhood in the City of Edmonton. Both parties had signed off on the purchase contract. Afterwards we learned that the seller was in the process of getting a Real Property Report but had not heard back from the City yet on Compliance. A few days later we were informed by the seller that the City of Edmonton informed her that her current fence encroached onto City land the entire length of her lot. The City of Edmonton wanted her to pay a $3800 fee for the encroachment agreement.
Long story short the seller was bound by signing the purchase contract to providing a complaint Real Property Report and the only way she was able to accomplish that was to pay this $3800 fee or remove the fence entirely. She asked if my buyer would split the cost of the amount or be alright with her removing the fence entirely and to which my buyer replied 'No to both accounts". She had to pay the city $3800 for the encroachment agreement. Not a positive ending for the seller who decided she could handle things on her own. It was a waste of money that should have ended up in the sellers hands and not the City of Edmonton. Simple advice given by a knowledgable Realtor who could have saved her a lot of money and guided her through the process.
Redefining Real Estate