Seller’s FAQ

How long will it take to sell my home?

Once the house is on the market, it may take anywhere from four to six weeks to sell. However, if the market is fairly hot, a seller could see their house off the market within a week. On the flip side, if there is a lull in the market or issues arise such as negotiation, lack of exposure, or house conditions then the property can sit on the market for months.

How should I prepare my house before selling it?

First impressions matter in business, but especially in real estate. Anyone walking through a house or touring it virtually will be looking for ways to pass or negotiate down on the price. You must help clients make sure that the HVAC, plumbing, and electrical system all work properly. Each room should look clean and decluttered with no overt damage insight.

Should I order a home inspection?

Getting a pre-sale home inspected is never a bad idea, especially if you want to get the best price for your home. Some homebuyers will feel uncomfortable purchasing a house without seeing a home inspection. Many will often hire their own inspector. It’s better to be safe than sorry.

What is the selling price of my home?

The selling price of a house fluctuates depending on multiple factors. The most common ones are the neighborhood and what similar-sized houses are currently selling for.  The age and condition are also contributing factors. Do major repairs need to be done? If so, that might lower the property value. Like everything else, home prices vary depending on supply and demand.

Is there a reason my home’s assessed value differs compared to the market value?

A public tax assessor gives the assessed value for a property. This assessment typically occurs yearly for taxation purposes. The fair market value is an agreed-upon price between a willing buyer and seller. There is usually a difference between the assessed value and market value. For homeowners, the assessed value is a double-edged sword. Because, if their annual assessed value increased then their yearly taxes will also be raised. On the flip side, when selling a house it can help boost its market value.

What is an agent’s commission fee?

In a real estate transaction, the agent is usually paid by the seller via commission as opposed to a flat free. Typically, a real estate commission fee is 5–6% of the home’s final sale price. In many cases, both the buyer’s agent and the seller’s agent split the commission fee 50/50. Both receiving 2.5–3%.

Should I price my home higher to leave room for negotiations?

No, you shouldn’t. Don’t price in negotiations. It is better to list at fair market value and not negotiate, than list high and expect to negotiate. Additionally, when you overprice your home, your target demographic may not even see your home when searching online.

What are the common closing expenses for home sellers?

Typical closing expenses for home sellers include the abstract and title search, instrument survey, real estate commissions, and transfer taxes which also are known as revenue stamps.