When to sell is an important question for anyone in real estate market. Whether you are looking to sell a home, second home or investment property choosing right timing can be critical. Utilizing knowledge and expertise of a real estate professional is your greatest resource for making best decision. As a real estate expert in Williamsburg and Tidewater area of Virginia this article will address some common questions sellers have asked me in past. Remember, only reasons your home or investment property won’t sell are location, condition or price. Q. Should a seller list then buy, or buy then list?
A. Get your house under contract before you purchase.
Q. Should a seller do a “for sale by owner”?
A. Do not do a “for sale by owner”. Find real estate professionals you can trust to help you assess real estate market in your area. This will help you be certain you have covered all bases necessary to choose right price. To learn more about facts of “for sale by owner” transactions visit voncannonrealestate.com and read my article Debunking The Myth Of More Net Gain With For Sale By Owner.
Q. Should seller invest in a pre-listing inspection?
A. A pre-listing inspection is an important part of educating yourself about condition of your home. It will help you to price your home realistically and can save you time and energy during sale itself. Documentation from a recent inspection will appeal to your potential buyers. Make sure inspector is insured, licensed and certified.
Q. At what point should seller list home or investment property?
A. After your home has passed an inspection you should begin looking for a new home. Your agent can list property at this time, but be sure listing states that a replacement home must be secured before closing.
Q. What is first step to understanding real estate market in my region?
A. Gather information from a variety of sources and compare findings. Do not hesitate to approach more than one real estate agent and request a comparable market analysis (CMA). The CMA will show prices of recently sold homes and homes currently on market that are comparable to your home in size, condition and location. This provides you with an estimated worth for your property. Also, attend neighborhood open houses to get a feel for current trends. Be sure to look at home comparable to yours within a three-mile radius of your present home.