8 Things To Do Before You Sell Your Home

Step 1: Have Your Home Inspected

Have a professional pest inspector identify dry rot and/or infestation problems before you put your home on the market. A clean bill of health is required by many lending institutions. You may choose to conduct the repairs in advance or include them as part of the negotiations with a buyer.

Step 2: Review your home for deferred maintenance, wear and tear

Look at the carpets and floor, the paint - including nicks on the baseboards and banisters, the grout in the kitchen and bathrooms, the ceiling fixtures and door knobs, the bathrooms and the kitchen appliances. Fix it, clean it and make sure the house sparkles! The question you need to ask is whether a potential buyer will see a home that is move-in ready or a home needing repair. The house doesn't need to look new but it definitely needs to look well maintained.

Step 3: Make Repairs Before Putting Your Home on the Market

A list of necessary repairs is a major put-off for most buyers who may choose to

move on to another home rather than deal with the headache and expense of repairs. If you are "handy" with tools and can complete the repairs in a professional manner, then by all means complete them yourself. Otherwise it is best to hire a professional. Repairs completed in advance of a sale could save you thousands at the negotiation table!

Step 4: De-clutter with ruthless abandon!

The "stuff" that we all accumulate after years of living in a home make the rooms appear smaller and makes it more difficult to easily see the home's attributes. Personal mementos block a buyer's ability to envision their own possessions in the house.

Tackle those closets, cupboards and counter-tops. Clean, organize and pack things away with ruthless abandon! Turn your house into a model home that allows the buyers to see themselves living in it.

Step 5: Review your yard for curb appeal

The condition of you yard will cause potential buyers to draw conclusions about the condition of the house. An untended lawn or shrubs, the lack of plants or flowers, a retaining wall in need of repair or stained concrete on the front entryway will create a negative first impression before the buyer even walks in the front door. Perhaps simply haven't had a spare moment to keep the yard well tended but you will never get the opportunity to personally explain that to a buyer and offset their first impression.

Step 6: Conduct Local Market Homework

Before you set a price for your house, it is important to do some personal homework regarding the local market. Yahoo Real Estate says it best, "The home is worth what a buyer is willing to pay for it in an open market."

Visit the Open Homes in your immediate neighborhood. Put yourself in the shoes of

buyers who are looking for the best combination of price, location, condition and amenities. Be as detached and unbiased as you can. After viewing the competitive homes for sale, ask yourself what it would take for a buyer to choose your home above the rest.

Step 7: Price it Right.

Market price is a buyer magnet. Serious buyers who are actively looking for a home will immediately view all new listings in their price range. If your home is incorrectly priced during this critical roll-out phase, you will lose the benefit of pent-up demand and have to wait for new buyers to enter the market. For more information on pricing, I invite you to read Understanding Fair Market Value and List Price.

Step 8: Know Your Selling Costs and Net Proceeds

Whether you plan to move up or downsize, every seller wants to know what their net proceeds will be when the home sells. The net proceeds are calculated by taking the sold price minus the selling costs which generally include real estate commission, transfer taxes, property taxes, document fees, repair costs, the cost of any Point of Sale ordinances and the balance due on your mortgage.

If your mortgage balance exceeds your net proceeds, please make sure to visit Short Sales for additional important information.

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