Check the terms of amortization of your mortgage.
Before selling your home, check the conditions of the mortgage you have contracted. In particular, you should find out the cancellation or early repayment of the mortgage. Also evaluate the possibility of subrogation of the mortgage of your home. The goal is to get an idea of the total costs that are derived from your mortgage as a result of the sale of the house.
Determine the value of housing.
It is a key issue when selling the house: determine the value of the house in the market. A direct way is for a Real Estate Agency to determine its selling price. You can do as reference recent sales prices of similar homes in the same area, a valuation of the house by specialized companies (your bank can provide you with one), consult the real estate prices of similar houses offered for sale in la zone…
Estimate the costs of sales.
Selling a house at a certain price does not mean that you will enter that amount. For this reason, you must be clear about the expenses that the sale will generate. Here are some costs to be quantified in detail:
- Costs and expenses of cancellation or subrogation of mortgage (already mentioned in point 1).
- The sales commission of the Real Estate Agency (if you finally agree to use its services).
- Taxes – subject to various hypotheses, for example whether or not to reinvest the amount of the sale in another home. Especially relevant is the capital gains tax which can reach a considerable amount if the difference between the price at which it was bought and at which it is sold (goodwill) is important.
- Other expenses (advertising, lawyer, updating of expenses or back obligations, manager, registration, repairs …).
The ultimate goal is to know for sure the net income you will receive after the sale and that will allow you to carry out your plans (for example, buying another home).
Determine the cost of acquiring a new home (see buying a home).
If the home you are going to sell is your usual home, you should spend some time evaluating the cost of the new home. Costs of transfer, costs of additional costs, purchase and sale costs and writing.
Repairs and works.
Once you decide to take the step, dozens of buyers will visit your home and contrast the state of the same with similar ones also for sale. At similar prices, what will decide the buyers choose one or the other will be the state and the image that gives their home. If you have access to work or repair services that are reasonably priced and competitive and with people you trust, evaluate the cost that the home can be left to sell so that your home is at a disadvantage when selling it with respect to others. There are many buyers who come to the world over if they have to make repairs or works at home. For this reason we give you some tips:
- Make the necessary repairs, especially of elements that are going to suppose a significant decrease in the sale price.
- Consider if you get into work on painting the whole house (not expensive and gives a picture of clean and neat housing).
Prepare your home to teach.
A house enters through the eyes. If a family goes to see her children, the wife … somehow they will see themselves living in it … Do a thorough cleaning, paint some visible things, pull or hide old junk that only values you … These Elements are important:
- Attractive facade, new paint on the inside (and, if possible, outside), fitted wardrobes, clean windows and appliances and an organized and clean environment are a must.
- Put plants and flowers … take care of your garden (if the house had). Some studies show that buyers evaluate the same house very differently if they introduce some very inexpensive decorative elements (the most influential case is that of plants).
- Kitchens and bathrooms are two very delicate spaces. Take care of them as much as you can when you show them.
- Always keep the house clean and tidy when they visit. Take care of the details.
- At the time of teaching: open windows in daylight and illuminate well with all artificial lights your home if it is night.
- Control any source of annoying noises (radios, music, televisions, children …).
- Do not leave any pets that might disturb the visit (example: your dog)
Leave clear. Start by doing the cleaning you will presumably do when you leave. Throw unusable things, boxes for exemple … Leave the attics, cellars, storage rooms as empty as possible.
Indulge the psychology of the buyer.
Follow some rules that potential buyers will like:
- If you put your house up for sale with a good real estate agency, you might be telling them to try not to be present if they are going to show the house to potential buyers. The reason is that homeowners often make shoppers nervous – no one feels comfortable inspecting a home, if they feel they are invading an intimacy. Evaluate leaving your home and leave it in the hands of the agent or third person who will teach.
- Do not stick to schedules to teach it. Think that perhaps the best buyers have very demanding work schedules and can only see houses in the early morning (7.30 hours …) or in the afternoon (night ..)
- If you are in charge of the sale personally prepare some information about the advantages of the urbanization or the area (communications, shops, schools, tranquility …).
- Have a good alibi to sell the house. If it’s good, share it.
- Be proud of your home. If you talk to a prospective buyer, never apologize for what you consider to be less valuable in your home.