When selling your home, what’s the first thing many people think of doing? Answer: Contacting a real estate agent. However, when you sell the traditional way, there are a lot of stressors and work involved. Even if you want to sell your house quickly, you’ll still need to declutter, fix any lingering issues, list your property, deal with inspections and showings, and experience numerous disintegrations of potential offers. It’s a lot to handle, right?
But what if there was a simpler way to sell your home? Selling your home privately isn’t as difficult as some Edmonton real estate agents may suggest. All it takes is a little know-how and some research.
What Selling Your House Privately Means
Selling your house privately means you’re doing it without a real estate agent, often referred to as For Sale By Owner (FSBO). An FSBO listing can prove beneficial for homeowners, especially if they already know how to sell a home without the help of a real estate agent.
A private sale with Solution Home Buyers can provide numerous advantages, such as:
- You won’t have to pay real estate commissions for a listing agent.
- Your home will be purchased as is.
- You can leave unwanted contents behind.
- You decide what the closing date is.
- You can receive cash, which means you can avoid drawn-out approvals.
Evaluate Your Options
You generally have two options if you’re determined to sell your Edmonton home without the help of a real estate agent. You may be thinking, “Only two?” Don’t worry. Both methods work effectively and efficiently. You may either sell your house person-to-person or to a property purchasing company.
Selling your house person-to-person is one of the more profitable options available. The only issue is it can take quite some time to sell your house if you don’t live in a highly populated area. This option allows you to set your own sell price for the home, negotiate your sale, and reach the final agreement.
While selling privately can be done, there’s still some work necessary on your end, such as preparing/showing your home, preparing all the closing documents on your own, and closing the sale on your own.
Selling to a Property Purchasing Company
If you’re worried about the stress of selling your home without real estate professionals, you may consider selling to a property-buying company. The company will take care of everything so you won’t have to.
This popular solution provides you the advantage of selling a home without the help of a real estate agent. It will save you money and time.
There is no showing the property and no need to declutter, and no long-winded process. If you’re hoping to sell your home fast, this may be the most effective alternative without any hassle.
Prepare Your House
It’s imperative to make a good first impression when preparing to sell your home. You wouldn’t invite people over to your home when it’s cluttered and messy, would you? The same goes for selling without relying on an agent.
Start by walking through the house and making note of the areas you need to declutter. Remember, you want to showcase your home’s best features. Clean every room to ensure presentability, and ensure the yard is in the best shape possible.
Try to keep a lookout for things that potential buyers may find distracting, such as cracks in the foundation or questionable paint jobs. Consider depersonalizing your home, so that prospective home buyers can see themselves living in your space. Depersonalizing includes removing photos, artwork, and any other personal items.
When you sell to Solution Home Buyers, you don’t have to do any of this.
Set a Listing Price
One of the most important parts of selling your home is setting the right price. Think of it this way: A potential buyer will most likely look at the set price before determining if they want to even see your home.
When pricing your home, start by looking at the other houses in your area. Compare other homes for sale and familiarize yourself with how properties are priced. You can always consider determining the price of your home through a professional appraiser. The only issue with an appraiser is that the appraisal value isn’t always the same as the market value of your home. While an appraisal costs much less than the commission fee for a real estate agent, you should still consider other strategies.
Researching pricing strategies is paramount when setting a listing price. Ensure that you evaluate the housing market so that your home is fairly priced.
List Your House on a Website
Look into any website that will allow you to list your home. You may likely receive a flat fee for the MLS (Multiple listing system) required for your home listing. Using a multiple listing service, such as Zillow, will help your listing get better traction. In addition, you can use your account to track the number of views, bookmarks, visitor trends, and price change subscriptions on your property listing.
Don’t forget to include well-photographed images of your home in your listing. The photos should be crisp and clear and taken during the day, providing plenty of natural lighting. Never skimp out on photos, as you want future buyers to know what the house really looks like.
You may receive several phone calls regarding your listed property. Most people won’t purchase a home without seeing it, especially in today’s market. You must be willing to share as much information about the house as possible but keep some information separate for when a potential buyer visits.
Showcase Your Home
Once your Greater Edmonton area or Greater Calgary area home is ready to be shown, you’ll need to set appointments for potential buyers. Take down their name and phone number, and choose a time appropriate for them to look around your home. Keep all valuable and confidential items out of sight and try to keep the number of people entering the house at the same time to a minimum. The last thing you want is an abundance of buyers roaming around your property. Keep it to one or two prospective buyers so you can make yourself readily available if they have any questions or concerns.
Prepare yourself for multiple questions regarding the property. You’ll have to provide answers if an interested buyer inquires about the heating costs, property taxes, and/or past renovations/repairs.
Negotiate the Sale
Many sellers have a real estate lawyer ready when considering offers. If it’s your first time selling a home, you may want to get familiar with the terminology, such as deposits, conditions, and closing dates. You’ll require the help of a real estate lawyer to close the final transaction.
You have three choices when negotiating offers: Accept, reject, or counter. Remember not to take offers too personally. Most new owners want to revel in the fact that they got their house for the best price possible.
Get acquainted with the negotiation phase and know when it makes sense to reject or counter an offer. Understanding how to negotiate will help you get the acceptable offer you want.
Close the Sale
When you and the buyer have reached an agreement, ensure you have a sales agreement written up so the lawyers can review the terms. It’s critical to have a closing date included in the agreement.
Provide enough time for any conditions to be met and allow your lawyers the extra time to calculate adjustments. You’ll have to remove all your possessions from the home before the closing date, as it should be ready for the new owners to move in (vacant possession). Then, turn over the keys to the new homeowners after your lawyer has confirmed the house is officially sold.
The closing date is when you’ll also receive the payment for the property. Furthermore, the buyer will likely perform a walkthrough to determine that the home is as promised in the agreement.
Selling your house can be a simple process, but there’s still a great deal of work to be done. Cut the stress out of your life and consider an easier option. Solution Home Buyers is ready to buy your property now and save you the trouble of dealing with listings, negotiations, and additional fees. When considering a private sale with us, you’ll get the relief you need and walk away with cash in your pocket. No drawn-out approvals. No hassles. It’s a win-win scenario for everyone involved. Contact us today!