In our latest blog post, we offer tips for first time home sellers in Detroit and beyond. Find out what to watch out for before trying to sell your house! If you have never sold a house before, the process can feel burdensome and overwhelming. There is a lot to do and without the right people on your team, you can find yourself overwhelmed and unsure of how to proceed. There are many expenses to consider, as well as red-tape and delays often caused by lenders. Below, we offer some of our best tips for first time home sellers in Detroit and the surrounding areas.
Get The House Ready
If you decide you want to list the property with a Detroit real estate agent, you’ll need to prepare the house for the market. This means you will need to possibly paint the walls, replace old carpet, update hardware, replace old fixtures, swap out appliances, and make any repairs the property needs. You’ll also need to clean the house, keeping that way for property showings. Your costs can add up quickly, so if you choose to hire an agent, make sure the upfront costs are taken into consideration before signing a listing agreement.
Learn About The Market
When selling your house in Detroit, it’s imperative that you know a bit about current market conditions. Take some time to research trends and recent sales. Determine what your property is really worth and how those amounts have changed over time. By having a realistic picture of what your property is worth, you’ll be able to negotiate for the price you want. The best investors out there make it a point to learn as much as possible about current properties for sale and what’s going on in the local market.
Price Your Property Correctly
Pricing your house too high from the beginning will likely net you less money when all is said and done. An overpriced property will sit on the MLS longer, need to be reduced, and lose it’s overall appeal to potential buyers. The house will fall lower and lower in the search results, often making it an afterthought for buyers looking at houses in the Detroit area. Incorrectly pricing a property is one of the biggest mistakes sellers make. With a direct sale to Detroit Fair Offer, you won’t have to worry about pricing or trying to determine an accurate value.
Consider Your Selling Options
There isn’t just one way to sell your house in Detroit. It’s important that you analyze the different selling methods and factor in what each will cost and what benefits they will each provide. Listings are great for properties that need little work and that don’t need to be sold right away. Listing can take some time and there are often expenses for repairs, cleaning, marketing, and other listing costs. A direct sale is often the better choice for properties that need work, that are burdened with liens or tax problems, or that need to be sold within a specific amount of time. Don’t assume that you need to hire and pay an agent for helping you sell. In some cases, a direct sale we be the best way to sell from a financial standpoint. Nevermind all the time you will be able to save.
Understand The Costs
If you choose to list, it’s important to know what it will cost you. Many people fail to factor in costs for cleaning, upgrading or making repairs. All of the above are quite important for first time home sellers in Detroit to understand. As mentioned above, it can take a lot of work to get a property ready for the MLS. You’ll also need to factor in marketing costs and the cost of your time. How much will it really cost you preparing and showing the property? With an agent, you will also need to factor in commissions, agent fees, administrative expenses, and closing costs. Every one of these expenses can be avoided with a direct sale to Detroit Fair Offer.
Work With Professional Homebuyers
No matter how you decide to sell, always make sure that the people you are working with are honest, professional and passionate about what they do. If you list, your agent needs to fight for you, getting the best price possible on your behalf. If you choose a direct sale, Detroit Fair Offer knows how to efficiently close, making the selling process simple and convenient for you. Not every investor is the same. When you work with us, you can be assured you will receive the best treatment and the best prices possible. If you plan on fixing up the house before trying to sell it, make sure the contractors you are working with are known to you or come highly recommended. You don’t want to find that you are throwing your money away on repairs and upgrades that don’t offer a return.