How to Sell Your House for More Than It’s Worth

House For Sale
BigStockPhoto

Selling house is a very intricate process that needs a lot of understanding in the field of real estate as well as patience. If you think buying a house is a much difficult process than selling one, you are mistaken. This is because selling a house is an equally complex process, where several factors need to be taken care of at once. Starting from fixing the interiors and exteriors to finding the right buyer who can pay the right price, everything needs to be in order and as preferred for the deal to take place.

An Investment That’s Worth It

The real estate market is one of the most lucrative markets in terms of investment, because the kind of returns that the real estate market is known to give, other investment tools can rarely match. Whether you have an investment property that you want to shell out or want to sell off your current residence, looking for a price higher than the current market price is a common goal for most of the sellers. And, to an extent, this is legitimate as well because the price of the real estate property is going to increase with time anyway.

investment

This gives the feeling to the sellers that their asking price should cover at least the next few years’ going rate. If the property is nicely and centrally located in a popular area, has sufficient space, is well designed, have all the basic amenities in place, is well maintained, and all the paper works are in order, asking for the higher price shouldn’t pose any problem during the selling process. In popular areas, there is always a high demand, and thus, finding the right buyer who can afford to pay a bit of a markup over the going rate should not be a problem.

 

Why You Should Look For Higher Price

house

Looking for a higher price is a common thing in the real estate market, whether it is the real estate agent or firm who is doing the selling on your behalf or is it the seller himself. To an extent, it is this practice of increasing the selling price considerably and frequently for just about every sale and every property is what has led to an overall boom in the real estate market. The reason why you should look for a higher price too is that it not only helps get you better returns on your investment but also helps sellers to pay for the ad hoc expenses during selling without having to compromise on their original asking price.

Things To Do To Bag A Higher Price

Even if your house is situated in a nice area, it is not always possible to bag a good price, because of buyers apart from considering the area, also considers many other factors. How is the house maintained? What are the problems that the house is facing currently? What are the fixes that need to be made? What fixtures need immediate attention? What would be the cost to repair and fix the problems existing in the house? Does the house need a paint job? And, so on.

house maintenance

These and similar factors would be considered by the buyers, and if your house is not well maintained, then forget about asking for the higher price than your house is worth, you would face a tough time asking for the current market price as well. This is because the aim of the buyers would be to cut out the repairing and fixing costs of the house from the asking price. To ensure that you are able to bag a higher price than your home is worth without having to struggle too hard, you need to take care of several factors –

  • If your house is old and it shows, do a paint job on the interior and the exterior to give it a new and fresh look. The idea is to make your house look attractive, both from the inside as well as outside to make the buyers with deep pockets fall in love with your property.

    ​​painting

  • Check for the fixes to be made in your house, whether it is your driveway that needs to be maintained, garden that needs to be mowed, washroom fixtures that need to be replaced, kitchen fixtures that need to be repaired or replaced, any electrical or water leakage that needs to be taken care of, and so on. Make sure that the house is in ready to move in shape so that the buyer does not find any fault or reason to compel you to drop the price.

    garden driveway

  • Take attractive pictures of your property and post it on the internet on real estate buying and selling sites. Good high-quality pictures would attract more buyers, and more buyers would automatically help in increasing the chances of getting the right buyer.

    attractive house

  • Negotiate smartly and smoothly whether it is a real estate agent or the buyers. Do not sound or look like you need to sell the house urgently or you are in dire need of the money you will get by selling the house, even if that just might be the case. Desperation is an easy giveaway, and the smart buyers would easily read between the lines and try to take advantage of your financial situation to lower the asking price.

    negotiate

These are the few things you should keep in mind and do to get a higher price than your property is worth. It would need some research, effort, money, and time to get things in order, but it would be worth it. These few changes can drastically increase the price of the property.

Do Your Research

Before you go in to sell your property, you need to do your research about the current market price in your area. What are the prices other similar houses in your area are bagging, what the asking prices for similar properties in your area are showing online, what are the advantages that your house has over other properties that can help bag you a higher price, and so on. Researching would help you give the knowledge about the property and also help you negotiate well during interaction with the agent or the buyer.

Also, make sure that all your paperwork is in order, all financial obligations over the house are cleared, and all the dues are paid such as house tax, electricity bills, and so on. If there are any legal disputes over the property, make sure to get rid of them before you considering selling the property. You should also consult with the real estate agents and firms in case you have any doubts about the going rates, and can ask them about what can be done to get a better price.

How To Market Your Property To Attract Right Buyers

Marketing needs to be done in the right way to attract more buyers. In the otherwise case, even if your house is well maintained and in good condition, there would be lesser numbers of buyers coming up and showing interest. You need to market your property well to reach out to potential buyers who can afford to pay the price you are looking for.

Most of all, when you are looking for a higher price than what your house is worth; you need to have a lot of patience. It will take a considerable amount of time and effort, but the wait would be worth it. Sometimes finding the higher price is not a difficult task, and sometimes it can take longer. In any case, you need to stick to your price once decided to be able to get it, even if it takes a long time. 

Images source: Google, copyright-free image under Creative Commons License

Premium Image source: Bigstockphoto

Similar Articles

6 Facts a Lot of People Don't Know About Real Estate Business

The real estate market is one of the rapidly growing industries in the world. Whether the economy is improving or suffering, you will notice that the real estate investments will always be profitable. There are many individuals that are planning to invest in the real estate market because of the profit that they will be able to generate in limited time.

10 Steps for Staging Your Home on a Budget

So, you’ve decided to sell your home. Like any home seller, you want to get top dollar. You’ve seen those TV shows where property owners spend thousands on home staging. What do you do if you don't have thousands of dollars in your budget? You'd be surprised by our options. There are several steps you can take to make your home more attractive to potential home buyers without spending a lot of money.

Selling FSBO vs. Hiring a Realtor

Real estate is a complex industry, so much so that many who venture into it as aspirational agents struggle to build their clientele or close sustainable commissions. Not due to a lack of skill, but rather, the very nature of the home transaction process. 

sunset

Prior to buying a home, you should make sure to have a pre-purchase inspection done. Although the inspection will cost money, it may help you find out about problems with the home before it is purchased. This may make it easier to walk away from the sale or negotiate with the seller 

checklist house hunting

House hunting is usually not something to look forward to or to enjoy. Moreover, finding a cheap home on the current housing market certainly isn’t an easy feat. But with these handy tips finding a new home should be fun and easy.

Are Buyers Purchasing homes in Fall or Winter?

Sellers will ask, will my home sell in the fall or winter? Do homes that sell in fall or winter sell for less? These are good questions. Sellers want the maximum value for their home.Home sell all year around. There are some studies that suggest homes sell for higher prices 

Empty Nester Baby Boomers Is It Time To Sell Your Home?

Boy oh boy where did the time go? A decade or two ago you bought this beautiful home for your family. Each kid had their own bedroom. Common rooms that family members meet are the kitchen and family room. Your better half loves to cook.

Millennial Home Buyers

Millennials are a group of individuals born in the 1980s and 1990s and are within the ages of 18 and 36. Also known as Generation Y, many are sidelined by tight credit, high student loan debts, and low-paying jobs. In fact, until the past few years, these have been the key reasons they were slow to enter the real estate market.

7 Tips Home Sellers Increase Your Homes Value

Home sellers there are things you can do to increase the value of your home. It is based on the 3R's. The basic rules are clean, clutter-free and color. Let us review the tips. Easy ways to increase the value of your home.