First impressions matter, especially in real estate. Anyone walking through a house or touring it virtually will be looking for ways to pass or negotiate down on the price. You must help clients make sure that the HVAC, plumbing, and electrical system all work properly. Each room should look clean and decluttered with no overt damage insight.
Getting a pre-sale home inspected is never a bad idea, especially to get your client the best price for their home. Some homebuyers will feel uncomfortable purchasing a house without seeing a home inspection. Many will often hire their own inspector. It’s better to be safe than sorry.
This is where knowing the market helps. Once the house is on the market, it may take anywhere from four to six weeks to sell. However, if the market is fairly hot, a seller could see their house off the market within a week. On the flip side, if there is a lull in the market or issues arise such as negotiation, lack of exposure, or house conditions then the property can sit on the market for months.
The selling price of a house fluctuates depending on multiple factors. The most common ones are the neighborhood and what similar-sized houses are currently selling for. Also, look at the age and condition. Do major repairs need to be done? If so, that might lower the property. And again, the market matters. Like everything else, home prices vary depending on supply and demand.
Yes, almost everything in real estate is negotiable. Typically, there is a difference between a home’s list price and how much it actually sells for. The current market’s saturation will determine how much wiggle room there is for negotiation. If you’re on the buyer’s side, expect the house to be able to be purchased for less if there is a lower demand than supply in the market. Vice versa, if you’re on the seller’s side expect it to usually sell for less. That being said, you never know who else is house hunting. Sometimes people will swoop in and offer the exact asking price.
The absolute first step is to get approved for a mortgage. Without being approved for a mortgage it will be quite difficult, if not impossible, to purchase a new home.
This is a tricky question, and the answer primarily depends on your funds and ability to find temporary housing. If a you need more equity to purchase a new home or meet a mortgage plan, then it is best to sell your current home before purchasing your next one. That being said, you will most likely need temporary housing at a friend or relatives, or by arranging a short-term rental elsewhere.
A public tax assessor gives the assessed value for a property. This assessment typically occurs yearly for taxation purposes. The fair market value is an agreed-upon price between a willing buyer and seller. There is usually a difference between the assessed value and market value. For homeowners, the assessed value is a double-edged sword. Because, if their annual assessed value increased then their yearly taxes will also be raised. On the flip side, when selling a house it can help boost its market value.