Most people spend their time wondering when the real estate market is good to enter and purchase real estate based on some friend’s recommendations. Others are more emotional and buy real estate on their whim and fancy. Such ideas may work sometimes but are not very reliable indicators on when to enter and exit the real estate market.
Firstly, in real estate investing, just like in the stock market, there is readily available public data, which you can chart to determine if the real estate boom or bust is bottoming out. Like in any investment, try to purchase the instrument at the bottom of a cycle so that you gain on the rebound. Similarly take the rental yield cycle into consideration when you do your maths to determine whether the property is worth acquiring since you want to ensure that you have enough monthly rental to cover your mortgage instalments even in the leanest of rental periods.
If you are like most people, then the most substantial asset you have is your home. This also means that you have to think about some important issues before you decide to sell such an asset. You have to make sure that you have an understanding of the property selling process first. Thankfully, all you need to do is look online and you will find any information you need. By spending some time learning about the process, you will have more control over it, thereby reducing your stress levels and increasing the price you get for your home. Hopefully, the information presented below will help you to get ready for a sale and get a good price.
First, check the outside of your property. This is what buyers will first see and what will give them their first impression. Hence, the first thing you must do is tidy up your yard and prune your trees and bushes. You need to try to look at your home through buyers’ eyes and see whether there is sufficient curb appeal. In most cases, increasing your curb appeal is simply down to tidying and cleaning a bit.
You need to know your motivation, but you don’t have to tell others about it. If you tell a potential buyer what your motivation is, and they are working with a really knowledgeable realtor, they can easily use this against you. If people really want to know why you are selling, try to be obtuse about it. A great answer is to say that your needs have shifted to something else. This is just vague enough to be the perfect answer. Psychologically speaking, they will assume the best and make up their own scenario. They will think that you came into a bit of money and want to move to something bigger, for instance. They may also believe that you are ready to find a smaller property because your kids have moved out. The thing that matters most is that your buyers will believe you have a genuine motivation other than money for selling.
Last, but by no means least, you have to research the market before you decide to establish a price. You must understand that the maximum you will ever get, if you’re lucky, is the asking price. What you should aim for is to get a sale price that is as close to the asking price as possible. If your asking price is very high, you are unlikely to attract any buyers. Set the price too low, on the other hand, and people will think there is a problem with the property. Then, there is the fact that you will never be able to sell your home for more than the asking price, meaning that you hurt your own pocket by setting the price too low
When you sell your property, your motivation for doing so will greatly affect the final sale price. As such, even if you are simply looking for a quick sale, do also try to be motivated by profit, as this will help you get a higher price. If you want to sell your home at the best possible price, there are a few things you must do.
Firstly, you need to work on the outside. You only get one chance to make a first impression and this is what the outside of your property will do. So, make sure your yard is clean and that your bushes and trees are pruned. Look at your property through the eyes of a stranger and see whether or not it has any curb appeal. Usually, no major work is required and you simply have to clean and tidy up a bit.
You need to know your motivation, but you don’t have to tell others about it. It is all too easy to use your motivation against you, particularly if your potential buyer is supported by a smart realtor. If you do get asked what your motivation is, try to be obtuse about it. Tell them, for instance, that your needs have changed. This is just vague enough to be the perfect answer. It has been shown psychologically that people will interpret these answers in a positive light that works for them. They will think that you came into a bit of money and want to move to something bigger, for instance. They may also think that you are ready to downsize because the kids have moved out. What matters, no matter what scenario they come up with, is that it is not motivated by financial gain.
Finally, get your cleaning gear out. Scrub like you have never scrubbed before. This is the time to really get the elbow grease out and to get rid of clutter, which you need to do before you move anyway. You need to transform your home into a show home. This means you need to look at the outside of the home as well. You have to make sure that your yard is clean and tidy, that your lawn is mowed and free from weeds and that your trees and bushes are pruned properly. Don’t forget that it is your property’s exterior that creates the first impression. You only get one opportunity to create a first impression. Hopefully, this information will have helped you make a quick sale at a good profit.
Time is the most important thing you have to invest in your property in order to sell it at a high price. You need the time to make a few fixes to your property, but also to learn about the tips and tricks of real estate. It is people who have learned about real estate that tend to sell their properties for the highest amount. Some of the hints and tips collected by real estate professionals to help sell a home for top dollar are outlined below.
First and foremost, ask yourself why you are selling your property. You need to know your motivation, as it will also help you to determine what your available resources (effort, money and time) are. For example, you will need to handle the process of wanting a quick sale differently from wanting a huge profit.
Your motivation is yours and yours alone, so don’t go around telling potential buyers. If you tell a potential buyer what your motivation is, and they are working with a really knowledgeable realtor, they can easily use this against you. People may ask why you want to sell, in which case you should try to be as obtuse as possible. One answer to give them is that your housing needs have changed. This is just vague enough to be the perfect answer. They will likely hear exactly what they want to hear, and usually in a positive light. For instance, they might think you are able to afford something bigger and better now. Or they may think your kids have left the home and you are looking to downsize. The important thing is that your buyer won’t think that you are simply selling for the money.
Hopefully, this will have armed you with the knowledge of how to make sure your home sells quickly and for the right price. Clearly, there is no need for you to invest a lot of your own money, nor do you have to become a real expert in anything. None of these things take more than a bit of common sense and the impact they have is substantial. Happy selling and good lu