Realtor Tips for Selling Your Home in Raleigh
Deciding whether to sell or rent out your home can be a complex decision in today’s unpredictable housing market. In this article we discuss the main things you need to think about before you sell your home in the Raleigh real estate market.
Why are you selling?
It’s important to explore why you’re selling your home. Make sure that you want to and that it will be worth your while because it’s an expensive and arduous task. Look at your finances and determine how much equity you’ll have after the sale of your home. This knowledge will help you make room for upgrades and repairs if needed.
Ask yourself the following questions:
- What is your timeline for moving?
- What’s your budget for home repairs?
- What is the lowest amount you’re willing to accept on the sale of your home?
When is the best time to sell?
You’ve probably heard that spring is the best time of the year to sell a home. That’s true for the most part, but summer and fall are still good times to market your home. In NC, winters are mild, so that’s also a possibility. The best thing is researching the state of the Raleigh real estate market, learning if it’s a buyer’s or seller’s market. Of course, a seller’s market is ideal if you’re selling your home. I’ve got good news for you today. Raleigh is certainly a seller’s market at the moment (November 2020). Supply is low and demand is high.
What home improvements do I need to complete before selling?
If your home has some age on it, then you may have to put sweat equity into it or hire a renovation specialist to help. Buyers need to see a fresh blank canvas to imagine their new home. They can’t do that if they see holes in the wall, peeling wallpaper, or leaky faucets. A move-in-ready home will appeal to many and sell fast. You may want to consider ordering a pre-inspection. This will cost you a couple hundred dollars, but it will give potential buyers peace of mind. They will most likely put in an offer quicker than without a pre-inspection. Also, it helps you avoid home repair surprises later on during the negotiation level after an offer and before closing. Some sellers choose to sell their home as-is in order to avoid upfront expenses; however, they may receive a lower sale price as a result.
You may want to also hire an appraiser. A professional appraisal costs between $300 and $700. This can help you find that “sweet spot” of a price at which to market your home.
Stage Your Home
Hiring a staging company to rearrange your furniture or use their own is a terrific idea. It’s been proven many times over that a staged home is a quickly sold home.
Prepare for Closing Obstacles
Once the home is under contract doesn’t mean the closing will be a clean and easy process.
Prepare yourself for hurdles such as:
- Financing fell through caused by poor payment history, new debt, and other actions.
- Home appraises at too low of an amount. This makes a closing fall through when the home value is appraised at below the loan amount.
- Red flags raised by home inspection report.
Consider Turning Your Home into Rental Property
Many homeowners discover the benefits of turning their home into a rental property. They discover the advantages and newfound source of income. Oak City Properties has won over many homeowners who started out with the plan to sell their home on the market only to discover rental property investment was a better option for their budget and lifestyle.
Give Oak City Properties a call today at (919) 232-9222 to help sell your home quickly or to discuss the benefits of transforming your old home into a positive cash flow for years to come.
Want to read more about property management services? Here are a few blogs that may interest you: