Selling your house is a challenge even when the market favors sellers. To optimize how much you receive for your home, you need to plan ahead for your upcoming sale.
The right preparations can go a long way toward helping you maximize what you get for your house and minimize the risks you take when listing your property for sale. What are some ways to get ready for such a major transaction?
Start to think about staging
One of the most important ways to maximize your asking price is to create a space that buyers can see themselves living in and enjoying. The process of staging is different at every property, but, generally, you want to highlight the features of the home, like the large kitchen with new appliances.
You also don’t want too much evidence of your family left behind in the house during showings. Moving some of your items into storage can be an important part of the staging process. Minimizing what you have in the house gives people more of a blank slate so that they can see their own family and property there.
Establish a timeline for moving after closing
Have you already put in an accepted offer on a new house? If not, do you have some kind of alternative living arrangements in mind?
You may need to ask to retain possession after closing in some cases, which is why it is important to think critically about what the transition process will look like after the closing. That way, you are in a position to counter offers with terms that will work for your family and prioritize offers that are realistic for your current situation.
Look into any issues that could affect your closing
Are there potential blemishes on the title for your house, like an unrecorded deed to remove your ex- or a mechanic’s lien that someone forgot to release? Addressing these issues now will lead to a more straightforward closing and reduce the likelihood of title insurance underwriting issues that delay or ultimately cancel your closing.
Are there issues with the property that a mortgage lender will likely require you to fix? It may be worth making the investment now so that there won’t be repair delays between your listing and your close and you can potentially ask for a higher price having done those repairs. Thinking ahead can help you make the most of an upcoming real estate transaction.