Sunday, August 21, 2016 / by Mark Bensadon
When it comes to buying or selling real estate, there are many long-held beliefs that are simply not true. For example many people say that when supply outstrips demand, the only way to sell your house faster is by lowering its price. The truth is that there are many other things you can do to enhance the home’s attractiveness to the prospective buyer without necessarily lowering your asking price.
At Bensadon Homes, we pride ourselves in being able to navigate the prevailing market conditions to get the best deals for Seattle’s prospective home buyers or sellers. Our great network in the real estate industry coupled with our investment in the latest technology have helped fuel our rise on the Seattle real estate scene.
We return your calls and emails immediately and are happy to stay on the phone with you until we have answered every one of your questions. We also always stay in touch with our clients, constantly explaining what we are doing and the progress we are making.
If you live in the Seattle area, here are some tips that you can use when buying or selling a house:
(1)Pay the neighborhood a visit before buying
The last thing you want is to buy a home only to find that the neighborhood isn’t for you. Take some time to drive through the area to see what happens in the neighborhood. Doing this a few times will give you a clear picture and help you decide whether that is the perfect place for you.
(2)Physically inspect the house
Hiring a home inspector may cost you $200 but save you thousands. A home inspector provides you with all the information you need in order to decide whether or not to buy. His opinion is totally unbiased.
(3)Have the necessary finances first
Most agents will not show homes to buyers unless they have mortgage preapproval. It is a mortgage preapproval that makes your offer even more persuasive.
(4)Ask why the seller is moving
Knowing more about the seller helps you plot your strategy better. It may also give you some clues as to whether the home is suitable for you. Have as many questions as possible for the agent and the seller. Remember, you don’t get what you don’t ask.
(5)Watch out for sleeper costs
Apart from your mortgage payments, there may be other expenses like taxes, homeowner-association and utility payments. Get a list of all the possible sleeper costs and make sure you can afford them on top of your mortgage.
(1)Price it right
In today’s market, buyers are very educated on comparable home valuations. They are also aware that they have the upper-hand. Have your agent give you the sale prices of recently sold homes in the area. You can use these prices to offer 10-15% less.
(2)Listen to your agent
Value your real estate agent’s recommendations especially if he has a lot of experience selling homes in your area. This means that you have to choose an agent you absolutely trust and then listen to their advice as much as possible.
(3)Make your home accessible
It is difficult to find a buyer when your house cannot be seen. Make it easy for your agent to bring clients around. If you are too restrictive, they will simply go to other places.
(4)Keep the house in good condition
The condition of the house is a good selling point especially in a market flooded with low-priced foreclosures and quick sales. Inspect the house for termites and do as many repairs as you possibly can.
(5)De-clutter the house
Most buyers like to picture themselves in the house. Put away all your personal items and family photographs. You can also remove some of the furniture to make the space look bigger.
When buying or selling a home always remember that you get what you negotiate. Don’t be afraid to drive a hard bargain. Work with your agent closely as agents have better knowledge of the market and how to get the most out of it.