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Tips to remember when Selling you Home!
1. Differentiate from your neighbors. You want your home to stand out, in a positive way, from other homes in your neighborhood. A few examples would be landscaping, install high grade windows, new roof, etc. Your home will attract more buyers since these are things that can be seen from the road and lets the buyer know the home is well maintained. It will also increase the value as appraisers appreciate or depreciate based on economic life and overall condition of the property. The more you upgrade and maintain, the greater the economic life, thus resulting in greater value.
2. Clean the Clutter. Buyers expect to see your house becoming their Home! If all they can see is Your Home, it will not be as appealing to the buyer. Always depersonalize your home by storing personal items such as family photos, etc. You may need to move some furnture out to make it easier to move around and make the room feel larger. It is worth talking to a professional Stager as staged homes demand a higher price than a home not staged. Obviously, we must keep the home picked up and clean at all times.
3. Sweeten the Deal. All buyers like to know they are getting a great deal. You may consider an offer to pay some or all of the buyers closing costs. Many buyers can qualify for a loan but may not have the cash on hand for closing costs. A top concern for buyers is the fear of the HVAC or appliances breaking and/or needing to be replaced soon after making such a large purchase. This fear can be reduced by offering a twelve month Home Warranty. The warranty could reduce potential liability to the seller if major components break down shortly after closing.
4. Improve Curb Appeal. It is amazing how fresh pine straw can liven things up and is very inexpensive to do. The entrance (front door) is always important. This is the focal point and the first impression the buyer gets when looking at your home.
5. Put home in “Move in” Condition. Most buyers want to buy and move in without having to fix things. The more you do up front, the more attractive it will be for the buyer.
6. Price it Right! Make sure you know the current Market Value for your home. You cannot afford to guess or assume. You can get your home appraised, if needed, for around $350. I assure you your guess will be off much more than the cost of the appraisal. Additionally, buyers will feel more comfortable making an offer on a home when they also know the current market value.
7. Use Professional Photo’s! 90% of buyers today find the home they eventually purchase on-line. All they have to look at on-line are the photo’s you publish. They MUST look awesome!! If you are asking $200,000 for your home, the buyer expects to see that much value in the photo’s. If they don’t, they will click to the next home for sale.
Pay only 50% of the Contract Price when you buy your next home!
In an effort to promote home ownership and revitalize communities, HUD has initiated the Good Neighbor Next Door Program. This program allows for home buyers to bid on homes and only pay 50% of the contract price. For example, if a buyer offers $100,000 for a home that is accepted by HUD, the buyer will only pay $50,000.
The buyer must be a firefighter, policeman, EMT, or teacher, must not own any other home and plan to live in the home for at least three years to qualify for the Good Neighbor Next Door program. The buyer will sign a second mortgage for the other 50% of the contract price but will not make any payments or interest on this mortgage as long as the buyer lives in the house for three years. After three years, the second mortgage will be terminated. The home must be in a revitalized area to qualify for this program. The buyer must use an approved HUD Real Estate Broker to place an offer on one of these homes.
If you are interested in additional information or would like to purchase a home in Columbia SC under the Good Neighbor Next Door Program, please contact me by email at Frankie@FrankieGriffin.com or by phone 803-315-7303 to set up an appointment.