Considering selling?

You’ve probably been wondering at least one of these ten questions that I am asked most often about selling a home.

What is the best time to sell a house?

The best time to sell a house typically varies by location/neighborhood, but generally, spring & summer (April through August) is considered the prime selling season. Homes tend to show better with blooming landscapes, buyers are more likely to be out looking as the weather improves and families are out of school for the summer. For example, Median Sales Price in Hampton Roads, VA was $350,000 in May 2024 compared to $326,800 in December 2023.

How to sell a house quickly?

To sell your house quickly, focus on the following:

  1. Price it right: Ensure your home is competitively priced based on recent comparable sales in your neighborhood and your home’s condition.
  2. Improve curb appeal: Make a strong first impression with a well-maintained and inviting exterior.
  3. Stage the home: Declutter and depersonalize the space to appeal to a broad range of buyers.
  4. Market aggressively: This will likely come down to the agent you work with, find someone who is well versed in multiple streams of marketing and advertising to get your home in front of as many buyers as possible.
  5. Be flexible with showings: Accommodate as many viewing requests as possible to increase the chances of receiving offers.
  6. Work with the RIGHT agent: Find someone who;
    • Understands the local market and data
    • Has the best connections to help you clean up your landscaping, make repairs and maximize your staging
    • Is a master at marketing online (over 90% of buyers shop online first!),
    • And is a detailed and clear communicator when it comes to scheduling showings and understanding offers that come in.

What are the costs involved in selling a house?

The costs of selling a house can include:

  1. Real estate agent commissions (typically 5-6% of the sale price)
  2. Closing costs (1-3% of the sale price, including title insurance, transfer taxes, and attorney fees)
  3. Home repairs and improvements (to make the home more marketable pre-listing or as requested by the buyer following their Home Inspection.)
  4. Photography (this is included in most agent’s commission fee)
  5. Moving expenses

How to prepare a house for sale?

Preparing your house for sale involves:

  1. Decluttering: Remove excess items to make the space appear larger and more inviting.
  2. Cleaning: Ensure the home is spotless from top to bottom.
  3. Repairs: Fix any obvious issues such as leaky faucets, broken windows, or damaged flooring.
  4. Painting: Apply a fresh coat of neutral paint to create a blank canvas for buyers.
  5. Staging: Arrange furniture and decor to highlight the home’s best features.

How long does it take to sell a house?

The time it takes to sell a house can vary widely based on market conditions, location, and the home’s condition. On average, homes in the U.S. sell within 55-70 days from listing to closing. However, well-priced and well-marketed homes in desirable areas can sell much faster, sometimes within days or weeks.

As of May 2024, a home in Hampton Roads, VA spent a median of 13 days on the market from For Sale to Under Contract, followed by a 30-45 day period consisting of Home Inspection, negoitations/repairs, lender approvals, appraiser approvals, and closing title transfers.

Can you sell a house with a mortgage?

Yes, you can sell a house with a mortgage. When the house is sold, the proceeds will first go to pay off the remaining balance of your mortgage. Any remaining funds after paying off the mortgage and covering closing costs will be your profit from the sale.

How to price a house for sale?

Pricing a house for sale involves:

  1. Comparative Market Analysis (CMA): Look at recently sold homes in your area that are similar in size, condition, and features.
  2. Market conditions: Consider whether it’s a buyer’s or seller’s market.
  3. Home appraisals: Professional appraisers can provide an objective valuation.
  4. Online valuation tools: Use tools like Zillow’s Zestimate, but consider them as rough estimates rather than definitive values.

What to expect during a home inspection?

During a home inspection, an inspector will thoroughly examine the property’s condition, including:

  1. Structural components (foundation, walls, roof)
  2. Electrical systems
  3. Plumbing
  4. HVAC systems
  5. Interior and exterior features

The inspector will provide a detailed report highlighting any issues, which can lead to further negotiations with the buyer. If/when the buyer submits their list of repair requests, they are also required to share the full Home Inspection Report with you as well.

How will you handle multiple offers on my house?

When handling multiple offers:

  1. Compare offers: I’ll outline a spreadsheet that easily organizes price, contingencies, financing terms, closing timelines, and any other notable features.
  2. Communicate: I’ll inform all potential buyers (via their agent) that you have received multiple offers & have a timeframe set for when we will choose the winning offer.
  3. Negotiate: If all offers are relatively equal, we can ask for the highest and best offers from all interested parties by a set deadline.
  4. Choose the best offer: It’ll be important to consider not just the highest price but also the likelihood of a smooth closing. Some buyer-agents, lenders and closing companies have better reputations than others that assure the deal will get to the finish line without issues.

Can you sell a house as is?

Yes, you can sell a house “as is,” which means you will not make any repairs or improvements before selling. This can attract buyers looking for a bargain or those willing to take on renovation projects. However, be prepared to accept a lower selling price compared to homes in move-in-ready condition.

If you are considering selling, contact us so we can get together and I can answer any other questions you may have and tour your property so we can begin planning pricing, repairs, and timelines!