7 Steps to Successfully Sell Your Home When Relocating
The fast-paced corporate world often demands that employees relocate to new cities or countries. This has to be done on short notice and can be very stressful. While some people may see this as an opportunity for a fresh start, others may dread the thought of having to leave their homes behind.
Relocating for a new job is an exciting time. But, if you own a home, there’s one extra step in the process – selling your old one. Although it may seem daunting, with a little planning and preparation, you can successfully sell a home and make a smooth transition to your new location.
As the Great Resignation causes many Americans to reassess their work situations, career exploration is on the rise and that sometimes means relocating within the country or seeking out global options. A dream job with Netflix in Paris or Microsoft in Seattle could be enticing enough to sell your house and seize the opportunity of an amazing career move.
But packing up your belongings and starting a new life in a different state, coast, or overseas on a tight deadline is no easy task. Relocating for a job when you own a house can be especially challenging. (1)
However, not everyone relocates for the same reasons. Some move for a new job, while others relocate to be closer to family or for personal reasons. If you’re in the latter camp, don’t worry – these 7 steps are going to be your saving grace.
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Research the real estate market
Without understanding your local real estate market, it’s impossible to price your home accurately. One could end up leaving money on the table or, even worse, not finding a buyer at all. Look at recent sales of similar homes in your neighborhood and get a feel for how long they took to sell. This will give you a good idea of what to expect and help you set a realistic timeline for finding a buyer. Typically, you just want to be sure that you’re not over or underpricing a home.
Get your home in tip-top shape
After analyzing the market, the next step is to get your house in shape – and we don’t just mean a fresh coat of paint. First impressions matter, so make sure the outside of your home looks good. It isn’t necessary to do a complete overhaul, but small changes can make a big difference.
Once potential buyers are inside, they should be able to imagine themselves living there. Decluttering and depersonalizing a space is extremely crucial. Don’t forget about the little things, too – fix any cracks, holes, or leaks and make sure the appliances are in working order. Each and everything in the house should be spick and span. Or else, you run the risk of scaring buyers away or having to lower the price.
Stage your home
Staging a home is the process of making it look as appealing as possible to potential buyers. That simply means bringing in rental furniture and decorations to make the space more inviting – the goal is to help buyers envision themselves living there and see the home’s full potential.
While you may think that your home looks great just the way it is, studies have shown that staging can actually help a home sell faster and for more money. In fact, one study says 95% of staged homes sell in 11 days or less; which is a pretty impressive stat.
How to stage a lived-in home?
If you are living in a home that you are about to sell, there are a few things you must do to make it presentable for buyers. First, clear off all surfaces – that means countertops, coffee tables, nightstands, etc. Potential buyers should be able to imagine their own belongings in the home, not yours.
Next, pack up any personal items like family photos, heirlooms, and kids’ artwork. It’s important to make the space feel like it could be anyone’s home, not just yours. Consider renting a storage unit to keep these items safe while your home is on the market because you’re going to need it.
Remove any large pieces of furniture that make a room feel cramped. It’s important to create the illusion of space, so buyers can see the potential in each room. Lastly, don’t forget about curb appeal. Be sure to mow the lawn, rake the leaves, and trim any overgrown bushes.
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How to stage an empty home?
An empty house is quite easy to stage – starting from scratch is often easier than trying to fix up an existing space. First, you want the house clean – that means no dust, no dirt, and no cobwebs. Once it’s done, bring in some furniture to make the space feel warm and inviting.
You can either bring in your own furniture or rent it from a company. Whatever the decision, just make sure that each room serves a purpose. For example, the living room should have a comfortable couch and TV set up, the kitchen should look like it’s ready to cook in, and the bedrooms should look like they’re meant for relaxing.
Keep things simple and neutral – too much furniture will make a room feel cramped, while too little will make it look empty; the key is to find a happy medium.
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Set the right price
You’ve probably heard the phrase “price it to sell.” And that’s exactly what you should do. Find a price that’s competitive with other homes in the area without being too low or too high. The best way to come up with an accurate price is to have a real estate agent do a comparative market analysis (CMA).
This report shows the recent sale prices of similar homes in an area, as well as any homes that are currently on the market.
Get the word out
When a home is staged and priced correctly, it’s time to start marketing it. Begin by creating a listing on major real estate websites like Zillow, Trulia, Realtor.com, etc. Make sure the photos are high quality and show off the best features of your home.
Online listings are usually enough to get the ball rolling, almost every single person uses the internet when they’re looking to buy or sell a house. Host an open house or two and advertise them in the local paper and on social media. Put up flyers around town and hang up “for sale” signs in front of your home.
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Negotiate with buyers and close
It will take some time to receive a few offers, so be patient. Once you do, it’s time to start negotiating. And that’s where a real estate agent can be extremely helpful – they’re experienced in these types of situations and will fight to get you the best possible price for your home.
But let’s say you are without any broker or agent – the first thing to do is evaluate each offer carefully. Look at the price, the down payment, the closing date, and any other terms that are important to you.
We hope this guide from one of the reputable Tennessee home buyers was helpful in easing some of the stress that comes with selling a house. Just remember to take your time, do your research, and work with a qualified real estate agent to get the best possible outcome. Good luck!