You’re selling a home for the first time. It’s hard to know what’s expected, especially if you’re relying on family and friends for guidance. Some people make sure their home is updated and immaculate before the sale. Others have sporadic showings while they’re still living there! But what’s the best option for you? On average, there are nearly 3,000 homes for sale in Baton Rouge. If you want to get through selling, follow these expert tips.
1. Prepare Your House for the Market
Even if your property isn’t new, people want to see that it’s been renovated to like-new condition. That means a new coat of paint on every surface and new floors — at a minimum. Buyers can be strange about things that you might not think about, such as whether the surfaces inside cabinets have been redone. Your house needs a complete cleaning and updating before it can be photographed and viewed, if you’re marketing it to the general public.
2. Find Out More About the Competition
If you purchased your home twenty years ago, you might not know exactly what else is on the market. Take a look at other comparable listings in the area. That will tell you more about pricing your home and about how dated your home might be. Do all the homes in your area now have tankless water heaters? If so, you might want to consider an upgrade.
3. Price Your House Realistically
If you have a $200,000 house that could be a $250,000 house with some work, you don’t have a $250,000 house. First-time sellers often make the mistake of pricing their house to its potential, but usually homes stick around on the market for a long time because they’re overpriced. But you don’t want to underprice your house either. If you’re uncertain, get an appraisal. You don’t need to follow the appraisal, but it gives you a better idea of what you can expect.
4. You Don’t Necessarily Need to Get an Agent
Most first-time home buyers used an agent to buy their home, so it’s easy to assume that you need one to sell a home too. But using an agent is costly. They take a pretty large percentage off the top. If you just want to sell your home quickly, and in cash, you can work directly with a cash home buyer. You can also represent your own home. There’s nothing wrong with working directly with a buyer.
5. Don’t Forget About the Extra Costs
There are a lot of costs associated with selling a home. There’s the repairs, renovations, agent fees, and potential taxes. Don’t sell a property thinking that you’re going to get everything left after the mortgage has been paid off. Take the time to go over the numbers so you aren’t surprised once the paperwork has been signed.
6. Prepare for a Longer Timeline
On average, homes sell in 30 to 45 days. But a home sale can take up to 60 days or more, especially if your first sale falls through. Don’t put yourself in a position where you need to sell now so that you can purchase another home. Give yourself enough runway so that your property can stay on the market for a few months. But also do consider faster ways to sell your home, such as going through a home-buying company. The longer you keep your home on the market, the more you need to pay in terms of your mortgage.
7. Take Backup Offers
Let’s say you get a buyer who is excited about your house, but 30 days into closing, their financing falls through. What do you do now? If you didn’t have any backup offers, you’re going to have to go back to square one. If you do have backup offers, you can revert to the backup, and avoid losing any time. In markets like Baton Rouge, houses move fast, and there are many buyers for each house. But you never know when a buyer could fail to close.
Or you could skip all the hassle. When you work with Geaux Home Buyers, you can get an offer for cash for your home right away. No updates, no renovations — just a deal. Contact us today to find out more.