Tips on Selling your HOME on your own
Tip #1 Know your sales price
Although I hear people say my house is worth such and such, or I paid this amount back in 2000. That is not really the answer to this question. The answer is how much do you need to sell this house for in order to pay off any liens, or taxes, assessments, closing fees & walk away with money in your pocket? How much do you need to have in your pocket to sell this now? Is it time to sell or is it better for me to lease it out or rent it out right now? Finally then you ask yourself the question is the appraised value today going to be where I need it to be? If you are not going through an agent you may want to hire an appraiser before you start spending marketing dollars on the sale of the property. Also, since you are hiring the appraiser consult with them ask there advice on what you may be able to do to get more value out of your house. If the numbers aren't there after the appraisal then you will need to either change your personal numbers to accommodate or you may not want to sell at this time.
Once you have gone through the process of finding a number that fits the amount you need to sell it for you make that your bottom line number and you try not to negotiate below it. Realizing that if you do your pay out may not be where you need it to be in the end. In my opinion I would make my sale price slightly higher knowing that most buyers will try to talk you down and ask for at least a 3% seller concession to help them purchase the property. So for example if you need $100,000.00 to sell your home you may want to set it at $105,000.00 so you can work with the buyer on closing cost or anything else that may come up. You can then use that in your marketing materials as well. (Seller willing to pay buyer closing cost up to 3%) or (Agents welcome on a 2.5% commission & buyers paid cost up to 2.5%)
Good Luck on the first step.
Once you have gone through the process of finding a number that fits the amount you need to sell it for you make that your bottom line number and you try not to negotiate below it. Realizing that if you do your pay out may not be where you need it to be in the end. In my opinion I would make my sale price slightly higher knowing that most buyers will try to talk you down and ask for at least a 3% seller concession to help them purchase the property. So for example if you need $100,000.00 to sell your home you may want to set it at $105,000.00 so you can work with the buyer on closing cost or anything else that may come up. You can then use that in your marketing materials as well. (Seller willing to pay buyer closing cost up to 3%) or (Agents welcome on a 2.5% commission & buyers paid cost up to 2.5%)
Good Luck on the first step.
