Home Selling Tip #1: Pricing your home for sale

The most important decision you'll make in selling your home is proper Home Valuation. It's been said by many real estate professional that 80% of marketing a home is Pricing Your Home to Sell. The number one reason For Sale By Owner home seller's fail is due to an overpriced home - incorrect home value or listing price. Priced too high and you're property will languish on the market, either getting no showings or a lot of showings with no contracts. Priced too low and you'll leave money on the table. Their are a number of online pricing services available today that are a good starting point, especially if your home is in an area where the homes are fairly similar to one another. It's always best to get a professional home appraisal for unique properties. Although generally not as accurate or detailed, real estate agents are usually willing to do a free comparative market analysis (CMA) of your home which will give you data on similar home sales within the past year. If not a trip to the local court house can help you determine the prices of recent, similar home sales.

Home Selling Tip #2: Preparing your home for sale

Before rushing to get your home on the market take a few days or weeks to prepare the home for sale. Keep in mind that home buyers generally have plenty of choices in the marketplace and that you're not only competing with homes in your neighborhood, but also with homes in a fairly large radius surrounding your home, even new homes construction. If you haven't sold a home in a while, schedule some time to visit "Open Houses" to see what the competition's up to. It's a good idea to have a professional home inspection in advance of your sale to find any hidden defects that may affect your sale. Also consider having a professional "home staging" company preview your home for tips on how to present your home in the best possible light.

Home Selling Tip #3: Marketing your home for sale

If you want to sell your home for the highest possible price, in the least amount of time (and who doesn't) you'll want to expose information your property to as many potential home buyers as possible. Of course the number one method for exposing your home to the public is the Multiple Listing Service (MLS). The MLS is responsible for over 75% of home sales nationwide. By comparison, newspaper classifieds account for less than 10% of home sales. A listing in the MLS also gives your property exposure on the Internet. Most MLSs have data exchange programs so that properties listed in the MLS appear on websites like Realtor.com, AOL.com, Yahoo.com and MSN.com as well as and individual brokerage company websites. It's estimated that over 70% of home buyers now begin their search on the Internet, so a listing on the MLS not only provides marketing exposure to all of the Realtors in your area, but also home buyers around the world. Other methods of marketing include "Open Houses"- where you hold your home open to the public for preview, newspaper classifieds, homes magazines, Internet web pages, and For Sale yard signs.

Home Selling Tip #4: Preparing to show your home for sale

Preparing your home for sale is an important step that many home sellers overlook. Getting your home in tip top condition before showing can mean the difference between a quick sale and a lengthy time on market. For a complete list of home showing preparation tips CLICK HERE

Home Selling Tip #5: Showing your home for sale

Two theories exist on the best way for a home owner to show their home and the one that's best for you probably depends on your personality. Some experts think that getting out of the way and letting the buyers see the home is the best way to allow them to feel at home. However, if you have a sales person's personality it may be better for you to show the home to buyers room by room pointing out the important features of the home. If a Realtor is showing your home, it's best to leave the showing of the property to them. Using a lock box makes it easier and more convenient for agents who are more likely to show a home using a lock box.

Home Selling Tip #6: Negotiating the sale of your home

Negotiation involves knowing what you absolutely are willing to give up and what you won't give up under any circumstances. This can mean price, but it can also mean terms such as closing date, repairs and closing costs. Having a written set of negotiations "must haves" can make the negotiation process smoother for you and help set the tone for negotiations. Knowing what outcome you want in advance will help you avoid haggling over minor items that could cost you the sale. Successful negotiations involve being strategically flexible.

Home Selling Tip #7: Preparing for a home inspections

If you followed the advice in Tip #2, this part of the home selling process should be a breeze. Home buyers will most likely request an inspection of the home and having had your own home inspection in advance of putting the home on the market will help you avoid unexpected repair costs. Anticpate the buyer's home inspector finding something wrong with the home - it's shows the buyer they're doing their job. But keep in mind that repairs ARE negotiable. Some things that home inspectors find wrong with a home are really "shoulds" instead of "have tos". Unless the requested repair is an actual defect in the property, it's not appropriate for you to bear the cost of remediation. Rotted siding is a defect; old or worn paint or wall paper is not. Even an old roof doesn't necessarily need replacing as long as there is some useful life to it. Again, it's all negotiable. If it's an actual defect in the property, you still don't have to repair it, but then again, the buyer doesn't have to buy your house either.

Home Selling Tip # 8: Following up with the sale

Here's where most sellers (and agents) drop the ball. Just because you have a signed contract and the home inspections and contingencies have been satisfied doesn't mean closing on time is assured. It's important to follow-up with the mortgage lender and the closing company, be it a title company or real estate attorney's office, to make sure everything is going along as anticipated. Sometimes buyers can drag their feet getting requested documents to the lender which delays the entire process and, of course, delays the closing date. This can become a huge issue if you have moving trucks lined up and utilities set to go off on a certain day. It's a good idea to check in with the loan officer and the closing paralegal at least once a week to see what's going on. Also, make sure that any repairs that need to be made are taken care of well in advance of closing and receipts for any work you've done forwarded to the closing company.

Home Selling Tip #9: Preparing for your home move

The key to a successful move is preparation. Get as much done as soon as you can and you'll avoid much of the stress associated with home moving - and anticipate the stress. Relocation is never easy or simple, so having a checklist is a great idea. If you're planning on hiring a mover, get moving quotes at least 2 months in advance. Now's a good time to get rid of things as well. If your attic looks like you couldn't possibly get one more thing in it, you may want to consider a yard sale or donating some things to charity. If you borrowed anything from neighbors, this would be the time to return it. Don't wait til you've moved and have to mail it them. Pack early and often - especially little used items The more you can do before the week of the move the better. If you're planning a long move, have your cars serviced in advance.

Home Selling Tip #10: Preparing for the real estate settlement

If you've followed the above steps, closing should go fairly smoothly. Find out from the closing company or attorney if you are expected to attend closing. This can vary depending on tradition in the area. If you don't have to attend the closing make sure that the closing company has a signed deed to the property properly prepared by an attorney. You'll also want to drop off any keys to the house as well as remote door openers and alarm codes and instructions. Before money can be disbursed from a real estate closing, the proper documents have to be recorded at the courthouse. This can take up to a day or more for you to get your settlement proceeds unless you arrange in advance for the recordation to take place on the day of the closing. Make sure the settlement company knows when you need the funds to close on your next home so that they can plan accordingly.

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