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How to be ABSOLUTELY Sure You Are Getting the Most From Your Home Sale
If you are like most people, you don’t spend much of your time thinking about ways you could get more from your home sale… That is, until the time actually comes to sell. Then the topic becomes of utmost importance!
But where do you start? Is there a rule of thumb for how to maximize your proceeds? How do you go about executing your game plan once you have one? The reality is that no two scenarios are exactly the same—every home and situation are truly different. However, there are a number of foundational things that every homeowner can do to prepare their home for the sale.
Here are 5 steps you can take to ultimately help you cash in at the close:
Decluttering and cleaning.
The average person moves every 5-7 years. That is a lot of time to accumulate things. Start by taking a broad-based view of what you have and decide what you can and cannot live without—at least while going through the sale process. Then begin to box up, throw away, give away or put into storage those items that are not necessities. Make small spaces look big and larger spaces seem clean and decluttered.
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Staging.
Staging is not for everyone, but under the right circumstances, it can be a game-changer for your home’s appearance. Many stagers will even do a one-time consultation where they help you stage with your own furniture instead of going with a full staging package. It can be money well spent.
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Do your research/know your value.
There are a variety of ways to research the value of homes these days. Online resources are good place to start, but be cautious of trusting their information completely. Local Realtors and Appraisers can also be helpful in the process. If you want more specific information on getting your home value correct, you can get our free report: The 5 Best Ways to Accurately Determine Your Home’s Value »
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Understand that time is money.
There are many ways to measure success when it comes to the sale of a home—and contrary to popular belief, not all of them have to do with how much you sell it for. Many people neglect to realize that the old adage “time is money” is a very true statement. Sometimes the best offer is not necessarily the highest, but the one that has other terms that are favorable to your situation like a rent-back or perfectly timed closing. Be careful to consider all of the information you have and do not focus solely on the dollar signs.
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Be prepared for both best and worst case scenarios.
It is only natural to hope for the absolute best when deciding to sell. Visions of full price offers, cash buyers fighting it out over your home and a smooth and seamless escrow can be fun to contemplate. Unfortunately the one thing you can plan for in real estate is things not always going as planned. Knowing this and preparing yourself for some potential pitfalls or detours in the process can be extremely helpful. Making sure you have a cushion when it comes to timelines, finances and other important details can mean the difference between a major emergency and a slight inconvenience. It can also make a difference in your negotiating position and therefore how much you ultimately sell for…
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