May 21, 2013 | Home Selling Tips
It can be very difficult to determine what your property is worth in the current marketplace, because you are biased by what the property is worth to you. These emotions can get in the way of impartially evaluating a property and often cause sellers to overprice their home.
When pricing your property, you need to be objective and reasonable so you can come up with a selling price that will capture the interest of buyers.
Here are a few examples of common mistakes people make when pricing their house for sale.
Reading Too Much Into Online Comparable Properties
Avoid relying too much on online pricing information of sold houses. They can be a perfect place to start for getting a general idea of how much real estate is worth, but they are not always accurate.
Overestimating The Market
Don’t assume that you can sell your house for the same price at which you purchased it. Unless you bought your house a few weeks ago, the real estate market may have changed — sometimes significantly — and the purchase price will not reflect the appropriate pricing for today. (more…)
May 15, 2013 | Home Selling Tips
Everyone knows that first impressions are important. By carefully staging your home, you can positively influence the feelings your potential buyers have when they are viewing the property.
Staging is the art of decorating and arranging the spaces within your house to make it more appealing to buyers. If you can adapt the rooms to create an attractive and welcoming zone that home buyers can see themselves in, they will be more likely to buy your property.
One of the most important rooms to stage is the living room, because it is such a central part of the house. This is where a lot of the social activity occurs, so it should appear comfortable and welcoming.
Here are some tips to keep in mind when staging your living room before the next showing of your home:
- Clear out the clutter. The most important step is to de-clutter, because a mess will turn off potential buyers. Clear away any papers, toys and other items to make your living room as clean and minimalist as possible.
- Go zen. The main purpose of a living room is for relaxation, so make the space look as comfortable as possible. Try a soft throw on the sofa, plush cushions and a big chair that is just begging you to come curl up with a book.
- Strategically place furniture. Arrange the living room furniture to create areas of conversation, such as two sofas facing each other with a low coffee table in the middle. (more…)
May 14, 2013 | Home Selling Tips
When deciding to sell a piece of Massachusetts real estate, there are certain things you must disclose about the property to the buyer before the sale can go through.
Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit.
This has become more of an issue lately as some sellers are tempted to gloss over deficiencies in the home they are selling in order to try to get a higher sales price. In fact, a recent poll of real estate agents showed that 75% of agents ranked non-disclosure among the “top three current and future issues.”
What You May Need To Disclose
The main items that need to be disclosed are any defects with the home. This includes, but is not limited to, plumbing problems, water leaks, cracks in the foundation, insect infestations and toxic materials in the home — such as lead, asbestos, carbon monoxide or mold.
Be sure to fully disclose anything that may be pertinent to the buyer before purchase. Some disclosure laws include reporting issues with neighbors and whether the home has a criminal or notorious past.
If you are unsure about some information regarding your real estate, one option would be to state that you do not know that specific information. Remember though, if you knowingly withhold information, it may cause the sale to fall through or could be used against you in a lawsuit.
Does It Make Sense To Have A Pre-Inspection Done?
Sellers can also have their home inspected prior to placing the property on the market to prevent any surprises of unknown problems with the home. This way, defects can be fixed before listing the property, and the disclosure form can state the problem has been fixed. Buyers will almost surely want an inspection prior to closing, and a pre-inspection may suffice. (more…)
