Spring has arrived and “For Sale” signs are popping up all across Itasca County. This is home, cabin, and land buying season Up North. If you are planning on selling your property this year, it’s time to get busy. Of course you want to walk away from the closing table with as much as possible in your pocket. To help you reach your goals financially, here are my Top 4 Tips:
#1. Price it Right from the Start: Setting the right price for your property from the start is critical to attracting potential buyers. If you are over priced, you’re not putting your best foot forward to buyers. You’ll get frustrated quickly when your property is listed and no one is coming to preview it. Setting a price for your property can be an emotional experience. Maybe you’ve raised your children in the home or spend all of your past 10 summers at the cabin. Maybe it is the first home you ever purchased and you put a lot of sweat equity into it. It’s really important to rely on your Realtor when it comes to pricing. An overpriced home leads to multiple price cuts and buyers will loose interest in the property. Use your Realtor!
#2. Set the Stage: Staging is very popular in larger cities and some sellers spend hundreds of dollars using professional stagers to make sure their home looks its best. In Real Estate, we are often selling the dream and a staged home can look “dreamy”. Do you really need to hire a professional stager? No, not at all. Ask your Realtor to make suggestions on how to make your property shine to potential buyers. The suggestions you’ll receive are often easily enough to complete yourself. De-clutter, remove extra large furniture, and clean, clean, clean.
#3. Don’t wait for the home inspection to complete repairs: If you know you have a leaky faucet or water heater that is giving you grief, its a good idea to fix it before listing your property. Cracked or missing switch plate covers, or a broken tile in the bathroom might not sound like a make it or break it deal, but it can make the difference in price to a buyer.
#4. Vet all of the offers you get: There are lots of variables to consider when reviewing buyers’ offers. The price they are willing to pay is only one of those variables. Are they pre-approved? Do they have to sell their home before they can purchase yours? Are they asking for help with their closing cost? Are they wanting too close very quickly or are they flexible on a closing date? What other contingencies have they listed? Your Realtor will go over all of the items in the purchase agreement. Consider the entire offer, not just the price.