Author: Lubna Hisham, General Manager, PropertyGuys.com Mississauga
Thinking of selling your home? Here are our top 5 tips to keep in mind that can help you navigate the home selling journey.
Tip #1 Price it right
Every homeowner highly values their home. Your home is your castle, right? A very common mistake when selling your house is to set a price that’s too high. Needless to say, pricing it too low (for a quick sale) won’t help either! Finding the right balance while pricing your home is detrimental to the success of your transaction, set your emotions aside.
What’s equally important is having sufficient knowledge about the market. There’s a wide range of ways to access market information starting from free online home estimates all the way to certified/unbiased appraisers/realtors.
Tip #2 Repair Major Issues in your home
Ignoring a major issue in your home is not strategic. A buyer’s home inspector could easily pinpoint major problems/defects in the property. So, your choices are to either disclose it and you will then need to price your property accordingly – or, even better – you might decide to get the issue fixed so you don’t lose buyers who would want to move in right away. The best approach would be hiring an inspector yourself, so you can be better informed about any issues before putting your house on the market.
Tip #3 Invest in renovations
Renovations/upgrades you invested in throughout the years usually pay off when you’re selling your home, as buyers appreciate new floors, new windows, upgraded kitchen, appliances etc. So, it’s a win-win here, you enjoyed the upgrades while living in the house, and it added value to your home.
Tip #4 Don’t underestimate your expenses
Homeowners think about making money when they sell their house, but sometimes they overlook/underestimate some the expenses they will incur.
The following standard costs are important to account for:
- Closing Costs: usually between 1-3% of the home price. These include the title transfer fee, sales tax, attorney fee, and a fee for a title company or a lawyer who organizes the final transaction.
- Agent commissions – the seller usually pays both the seller’s and the buyer’s agent commission. This would usually amount to 5%, so be sure to plan for it (build it into the selling price), or choose an alternative selling option, like selling directly, to keep this hard-earned money. At PropertyGuys.com, we support homeowners take control of their home selling process without having to go through the traditional model. We provide all the tools and service needed to complete the transaction, including an unbiased appraisal, property listing and marketing on traditional platforms and non-traditional platforms/channels, advertising, helping with showings and offer negotiation, all the way to legal assistance throughout the process. This is supported by keeping the homeowner educated and well informed on the process. We charge a flat fee, and we have different service packages to suit different preferences of hands-on/off involvement from the homeowner. The key to this is transparency and flexibility, so homeowners know what they are getting into and the services they are paying for.
Tip #5 Consider offers holistically
While the highest offer might be attractive, it might not be the best. Offer conditions such as closing date, financing, inspection… among others to consider when deciding on the most suitable offer for YOU!
Disclaimer: About PropertyGuys.com: PropertyGuys.com Inc. is a private sale franchise network and marketplace. Each PropertyGuys.com franchise is independently owned and operated (collectively “Us” or “We”). We represent neither the buyer nor the seller and we are not licensed to trade in real estate. We neither warranty nor make any representations as to the outcome of a property sale and we do not warrant or guarantee the services provided by third parties. © 2022/2023 PropertyGuys.com Inc., All Rights Reserved. Legal Disclaimer: The subject matter developed within this article is only intended to provide general information and is for general informational purposes only. The contents do not constitute advice, are not intended to be a substitute for professional advice, and should not be relied upon as such. You should always seek legal advice or other professional advice in relation to any legal or financial decisions that you intend on making.