After months of careful consideration, you have finally decided to put your house on the market so you can move closer to the kids. While you want to do all you can to accept any buyer to get the house sold quickly, it is also important to screen your buyers, market the house, make appropriate repairs, and do all you can to sell. Remember, not all buyers are created equal, so the more you can do to interest the right people who can actually afford to purchase the home and those in the best situation to purchase, the quicker you will sell.
We suggest you begin by establishing a good asking price. Many people think it is best to start high so counter offers can find middle ground. In truth, it is better to set a realistic and fair price to move the house quickly. The reason is that if you start high and without offers start lowering the price, potential buyers begin to question why the house has been on the market so long and what could be wrong that it is not selling for the original asking price. Therefore, be wise with the original asking price, working with your realtor.
In addition, ask your real estate agent to walk through the house with you to identify potential repairs and renovations. A good agent would have a good eye for even some small inexpensive changes that could bring more money. Then, potential buyers, those with a real interest in the home, should be screened. In this case, the real estate agent would be able to determine if the person or persons are serious or just “browsing”.
We also suggest you work only with approved buyers, although qualified buyers would be fine too. In this case, the actual buyer has been to meet with a lender, filled out the appropriate application, and then been pre-qualified, which means the lender believes they would be approved without any problem, or actually pre-approved, meaning the buyer has actually secured the funds for a certain priced home. In the latter case, the buyer already has the money waiting so all he or she has to do is pick out a house.
A reputable real estate agent would also know how to market the house properly. In this case, the house would be added to the Multiple Listing Service, make fliers, network with other agents, schedule an open house, and so on. Finally, you want an agent hat is experienced at negotiations. Seldom do buyers make a full offer when buying a home. Instead, they will make an offer below the asking price, going back and forth with the seller until both can agree. However, the real estate agent should serve somewhere in the middle, helping both parties come to an agreement they can both live with.