Selling your home is not as simple as it used to be. If you live in Middlesex County your values may have increased significantly since you bought the home – especially if you’ve owned it for over a decade. Given the demand for inventory, especially ‘newer’ homes, you have more options than ever when it comes to selling!
You may have noticed all the new construction in your neighborhood. Ever wonder about the story behind it? Who is selling, how much did they get (harder to know if it was a private sale), and if you never saw a FOR SALE sign out front, when did the sale happen? Who is the builder, and what’s coming in its place? For how much?
Most people only sell a home a few times in their lifetime. So even if you’ve sold a house before, chances are it will be nothing like it was the last time. Local conditions of supply/demand, the internet, buyer sentiment, etc, play into the competitive nature of real estate values. Real estate agents have access to all sorts of information a savvy seller will want before making a decision how to sell their home.
Flipping Your Own Home
Some folks realize with some buff and shine, their home could be improved and probably sell for more money than selling as-is (given the peeling paint, loose railings, dead landscaping, the buyers may run instead of buy). But investing in your home before selling has pitfalls if you spend money on all the wrong things. You would be surprised what buyers actually care about – and don’t!
Public Sale or Private?
You may have the opportunity to sell to your neighbor in a quiet, friendly, “over the fence” transaction which seems less stressful and with less public attention. But would you get a fair price by doing that? Is a fair price what you even want? If a developer approaches you about buying your home direct, would they be giving you a fair price? If you then contacted a couple builders yourself, could you really manage the exchange of information and negotiation with these quiet professionals? Important questions indeed!
Don’t Leave Money on the Table – Speak to a REALTOR
Speaking to an experienced REALTOR about all of these possibilities will help you maximize your equity in the property. If selling to an “end user” makes the most sense, your Agent should be able to advise you regarding making improvements and repairs on the property, as well as strategizing about marketing, staging, photographing, timing, pricing, and negotiating. If selling to a neighbor or contractor in a private sale, a good agent can help you evaluate your risks and rewards, and still represent your best interests.
Decisions you make early in the process will affect the outcome, so “measure twice, and hopefully only cut once!”
We will be covering these topics and more in an upcoming Seminar for Home Sellers in Lexington at the ELEMENT Hotel. RSVP’s required. Please email firstname.lastname@example.org to reserve a seat. More information on our web site.