Selling your house yourself is a big challenge. Still hundreds and thousands of people sell their homes privately. Once you come to know he right procedure, it becomes very simple. Basically, you will need a strategy. So, if you are thinking “How To Sell My Home Privately?”, don’t look further. We have summarized the basics for you here. But let us first have a look at why you would be selling your house privately in Alberta.
The most clear reason to sell a house privately is to avoid paying commission to the real estate agent.
Though the percentage charged as commission by the real estate agents is not a very big amount, it is worth noting that it is paid from your house’s equity. Then there will be some seller paid closing charges as well. Together they will decrease the net equity more. This is the main reason why homeowners looking to sell their house choose to sell their houses themselves. It is all about money.
With this fact, let us look at the process and strategy of selling your house yourself.
1.Determine Your Home’s Market Value
You need to get this right. Price your house high and it will sit for many months without selling and if you price it very low, then you would get less cash than you must get. Below are the ways using which you can find your property’s value:
Use the property valuation websites
You can use many websites to sell your house. You can also find home buyers Calgary who can buy your property within minutes. Such sources will evaluate your property and give your property’s value promptly.
Hire An Appraiser
An appraiser can tell the exact worth of your property. While negotiating the selling price of your property with a buyer, you can use an appraiser as a valuation basis. However, you will have o pay a cost to the appraiser to make a report for you.
Get an analysis done by an estate agent
An estate agent can do a thorough evaluation of your house. It will be based on the sales of other properties in the same area. The service will be free and the quote will be dependable. The agent may get you sales pitch in the way as well.
2.Prepare your house for sale
Walk through your house and see it with the buyers eyes. Ask yourself the question that “If I was buying the house, what would I don’t like?” Starting with negative can get you to the point. You need to be objective at this time and if you cannot be, then it is best for you to get an opinion of an outsider. The observation of an outsider can play an important role in the sale of your property. Here’s a list of a few improvements you may wish to make:
Make any small repairs that are needed like loose door handles, leaking faucets, issues with lights or electric switches, and more.
Repaint or touch-up any rooms that look dull and boring.
Upgrade the appearance of your lawn or garden by adding outdoor furniture or water features.
Ensure to declutter your whole house including the attic, closet, garage, and basement.
Ensure that your whole house is smelling fresh and clean
- Market Your House For Sale
There is no single best way to market your house for sale; however, below are some great strategies:
Make sales brochures or flyers
Create sales brochures or flyers for people who are looking at your house or to anybody who expresses interest. Create them using Word documents and add attractive graphics as well. Adding photos of both the exterior and interior of the house can also be helpful. IF you put a flyer, it should specify the address of the property and whom to contact. Ensure to list the specifics of the property like the room count, sale price, qualitative sales pitch, and more.
Put a Yard Sign
A yard sign can be found in front of nearly every house that is offered for sale. There can be bought from office supply stores. Spend some more money and buy a good one.
Market the House Online
You can market your house on many online websites. Some popular websites for advertising your house are Zillow.com, HomeFinder.com, Craigslist, and Facebook.
- Negotiate the Sale
Because you aren’t working with a property agent, you will need to directly negotiate with the buyers. A buyer will give you an offer below your price. The buyer will even ask you to pay the closing cost. If their initial offer isn’t acceptable, then you will need to negotiate. The buyer will come up and you will have to come down. It is better to decide in the beginning only on how low you are ready to go. Though your initial negotiation will be verbal, you should ask the buyer to submit an offer in written once the deal is done. The closing should occur in the office of a title company or before a lawyer.
- Deal With the Closing
Now comes the final part of selling your house – the closing. It is a legal affair. So, there is a set process for this and it is best left to a title agent or a lawyer. It is up to you to choose any one of them and then ask them to tell the processes. Usually, it is the closing agent who does most of the work. However, they may call you to give certain documents. Ensure to provide everything as soon as possible. Also, make sure that you be in constant touch with the buyer during the deal acceptance and closing. Good communication can get you through any points of contention.
Selling your home yourself is a more complex process than with an estate agent. However, if you handle it successfully, you can save thousands of dollars. That is the reason why most people now try their hand at this. So, you can do this as well.