Questions to Ask Before Selling a Home

Selling your home is a big financial and emotional task, which requires lots of planning. So before you decide to put your home on the market, here are four questions to consider.

What is my home worth?

Several factors go into determining your home’s market value. These include:
  • The condition of the property
  • Square footage
  • Location
  • Amenities
  • Recent comparable property sales
For a snapshot of your home’s current value, you can enter your address into a free online value estimator tool. Alternatively, you can look at a recent property tax bill to get your home’s tax assessed value, which is a percentage of your home’s fair market value. If you know your state’s assessment rate (which is usually between 80 and 90 percent), you can estimate fair market value by dividing your tax assessed value by that assessment rate.

How can I sell at the highest price possible?

There are several simple, low-cost things you can do to boost the value of your home! These include:
  • Eliminating clutter
  • Washing windows and outside walls
  • Installing higher wattage bulbs to create a brighter environment
Larger projects, like adding bedrooms and renovating kitchens and bathrooms, typically yield more substantial increases in the sales price. Staging your home, which helps paint a picture of how buyers will use their new space, can also add value.

How long will my home be on the market?

The time your home spends on the market depends on several factors, including:
  • Location
  • How competitively your home is priced
  • How aggressively your home is marketed
Statistics show that if a home is properly priced, an offer should come in within the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32% faster than homes that aren’t staged!

How can an agent help?

A real estate agent can help with all aspects of the selling process, from pricing to marketing to handling the intricacies of closing. An agent will negotiate on your behalf to secure the best price – and quickest sale – possible.

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