It should be a rule of thumb before selling any property to ask as many questions as possible. Preparing some questions to ask when selling a house and doing research will help you streamline your options as a seller and understand the fluctuating market you’re about to tap into.
A few critical questions to ask when selling a house include highlights, costs, and relocation, among others. Consider the following queries to ask before listing your property online.
Questions to Ask When Selling a House
1. Why am I selling my home?
Determining the sole reason for selling your home is detrimental to the success of a sale. It will help align the broker, the seller, and the buyer throughout the transaction and dictate how much room there is for negotiation.
Significant life events like starting a family or relocating for a new job are typical reasons people sell their houses. Whether it’s a condo or a duplex, there’s always a motivation behind it. And the more you know about the seller’s motivation to sell, the more a buyer will have to leverage during negotiation.
2. When is the best time to sell my house?
Many people will tell you many different answers to this question. You only have your intuition as a seller, but let it guide you with proper research.
Knowing real estate trends and fluctuations can help you decide when to sell your house in the market. Ensure you check your portfolio with your mortgage manager to ensure your home is intact to avoid pricing it too high initially.
An overpriced property will not only throw buyers off, but it will also keep your house on the market for longer. This situation is not ideal since a listing can get “stale” fast, especially when an up-and-coming neighborhood and developer moves into your area.
3. Am I financially comfortable?
You could be paying off your mortgage on time and have a reasonable hold budgeting house expenses, but it doesn’t always mean you have good standing at the bank.
Before considering selling your home, ask yourself if you’re in a good place financially. It would entail looking into your expenditures and even your credit standing. Double-check if you have above the minimum estimate to cover the costs of making a house sale.
4. What do the local market conditions look like?
Projections and estimates can only tell you so much. Check with a local real estate agent what the property sales trajectory is like in your neighborhood. Make time to gauge local market trends, including active listings, median sale prices, and standard real estate developers trying to enter a rural scene.
Getting a complete picture of the local real estate in your hometown could also be done with a thorough research process. You can look into public records for cities that have partnered with online real estate platforms to get a general scope of what you’ll be working with when you enter the market.
5. How long will it take to find a serious buyer?
This question to ask when selling a house could be rhetorical or simply one that requires patience. Many factors come to play when finding a serious buyer. More often than not, they will look into your location, house condition, listing price, and the local housing market before making an offer.
Be prepared with all the proper requirements like permits and licenses to sell your property to avoid mishaps with potential buyers. Please take some time to show your house and make it look like it holds the potential to be someone else’s new home.
6. How much is my house worth?
You could be doing all the math right but still arrive at a steep estimate. No matter how much money you think your house is worth, there’s a need to back it up with proper pricing analysis.
The main factors to consider are the condition of your property and the demand for homes similar to it. Finding out an initial estimate can be done by looking at the comparable sales between your house and those near you with the same size and condition.
Reach out to a real estate agent to consult about your estimate, then get appropriate pricing. If you prefer a more convenient alternative for a rough estimate of your house, try online quota generators like iBuyer. You can also contact SEEB Homes to get a fair and no-obligation cash offer if you want to sell your house for cash.
7. How should I market my home?
Marketing your home involves creativity and strategy, and this can be achieved beyond the usual sales tactics. Leverage digital tools that can up your listing views and get noticed using high-quality photos and videos for virtual house tours.
Traditional marketing for real estate can still work if you’re selling in the suburbs and within your local networks. These include advertising through flyers, brochures, ads, and networking. Create a strategy to highlight your house’s pros and create a cushion for the cons that buyers will point out.
It is also essential to know your prospective buyers and learn their demographics. Selling homes to younger people require networking through social media, which you can use when staging the home. Don’t fall short on small talk and work in the numbers that make the property and the neighborhood an optimal choice.
8. What are the notable selling points of my home?
You should know the highlights of your home, like the back of your hand during a staging. Illustrate to a buyer the experience of making a house an actual home. Spotlighting something as measly as how the sun shines through the kitchen island when the curtains are pulled apart is one way to highlight an excellent house feature.
Talk numbers, too, if necessary. Some buyers can be frugal, so low heating bills or functional garage doors make a difference in maintenance talk. Knowing the selling points of your home will also make excellent conversation about the neighborhood and the community that the buyers can be a part of if they consider making an offer.
9. What do I need to prepare my home for a showing?
Staging a house can be one of the most exhausting parts of making a sale. This part of the process entails scheduling repairs, house inspection visits, paint jobs, and remodeling certain aspects of a room. Making a checklist is the first step, and ensuring your numbers are aligned with your finances will help streamline your staging expenses.
10. What is the actual cost of selling my house?
The actual cost of selling a house usually has an answer many sellers don’t like but have to hear. More often than not, selling real estate property in a market dip may require you to spend more. It’s vital to be aware of what part of the sales process costs the most, and usually, it’s when you close a deal with a buyer.
The cost of selling your house involves giving 10% of your home’s sales to fees and expenses on your agent’s commission, staging and repairs, seller concessions, overlap costs, and closing fees. These are all usually negotiable with your real estate agent, but if you’re approaching a home sale with a DIY mentality, you could probably save more money from these fees.
Get Curious and Ask Questions!
Selling your home is a grueling process, and knowing what questions to ask when selling a house will not do you any harm.
If it’s your first time attempting to sell your home, ask yourselves the questions we listed above to better gauge this big decision. You won’t only be better prepared once you find the answers but also be motivated to be as competitive as the current market.