Home Inspections: Here’s What Sellers Need to Know

After you accept an offer to purchase your house, a buyer and his or her real estate agent likely will want to conduct a property inspection. Although the mere thought of a home inspection may cause a property seller to stress, it is important to understand the importance of an inspection for both sellers and buyers.

Now, let’s take a look at three things that every seller needs to know about home inspections.

1. A home inspection offers valuable insights for both a seller and buyer.

During a home inspection, a buyer, his or her real estate agent and a house inspector will examine a residence both inside and out. The inspection allows a buyer to take a close look at a residence and identify any underlying issues with a house before finalizing a home purchase.

Meanwhile, a seller may learn about assorted home problems following an inspection as well. And if a home has various problems, a seller may need to correct these issues to fulfill a buyer’s requests.

2. A home inspection won’t necessarily slow down or stop a house sale.

Typically, a home inspection is performed after a seller accepts a buyer’s offer to purchase. At this point, a buyer wants to ensure a home matches or exceeds his or her expectations. With an inspection, a buyer can learn about all aspects of a residence and proceed accordingly.

If problems are discovered during a home inspection, there is no need for a seller to worry. Oftentimes, a buyer will request a seller fix any problems with a home, or he or she may ask for a price reduction. As a seller, you may be able to negotiate with a buyer to find common ground relative to the costs of myriad home repairs too.

3. A home inspection generally does not take long to complete.

In many instances, a home inspection takes just hours to complete, and a buyer will receive a house inspection report within a few days of the evaluation. After a buyer reviews the home inspection report results, he or she can choose to move forward with a home purchase. Or, a buyer can rescind his or her offer to purchase or request home repairs or a reduced purchase price.

A seller will find out how a buyer wants to proceed within days of a home inspection. If a buyer and seller can come to terms after an inspection, both parties can proceed with a home transaction. On the other hand, if a buyer and seller cannot reach an agreement following an inspection, both parties can reenter the housing market.

Lastly, when it comes to selling a home, it often helps to hire an expert real estate agent. This housing market professional can teach a seller about home inspections, as well as what to expect at each stage of the property selling journey. That way, a seller can prepare for any potential home selling hurdles and take the necessary steps to overcome such problems before they get out of hand.

Selling Tips for Luxury Homes

Image by Chris Goodwin from Pexels

Your luxury home is a major investment, so it’s important to make sure that you’re approaching the selling process the right way. Selling a luxury home comes with certain challenges that you’re less likely to encounter with a non-luxury home. Luxury homes aren’t as numerous overall, so you’ll have to work harder to attract more buyers. According to the National Association of Realtors, only 13 percent of first-time and repeat home buyers purchased homes costing $500,000 or more, and only 9 percent purchased homes measuring 3,501 square feet or more. Keep the following tips on selling luxury homes in mind before putting yours on the market.

Get the Pricing Right

Determining the right price for a luxury home can be a challenge. You might not have other comparable homes nearby to help you figure out your listing price, or your home might have special features that could make it worth more. Asking for too much for your luxury home could mean that it ends up staying on the market longer than you expected, especially since the number of buyers for these homes overall tends to be smaller. Asking too little means you’re missing out on getting what your luxury home is worth. 

Think Twice About Open Houses

Open houses are a common part of the marketing process for non-luxury homes. However, you might not want to have them for you luxury home. Anyone can attend open houses, which means you’re likely to have people stop by who have no intention of making an offer on your home. In addition to wasting your time, these open houses could also make it easy for criminals to target your home. Instead of open houses, consider arranging private showings for buyers who have a genuine interest in purchasing your home and the financial ability to do so.

Use High-Quality Photos and Videos

When marketing your luxury home, make sure you use high-end cameras for photos and videos. The quality of these can have a huge impact on how successful your online and offline marketing efforts are. High-quality photos and videos are an important part of attracting buyers and making an initial favorable impression on them.

Find an Experienced Real Estate Agent

When you work with a real estate agent to sell your home, make sure that you find one who has experience in the luxury market. Selling luxury homes involves taking different factors into consideration compared to selling non-luxury homes. A real estate agent without this experience might have a more difficult time selling your home or overlook important ways to attract the right buyer. Real estate agents with in-depth knowledge of how to sell luxury homes provide you with valuable help when your home is on the market, including helping you determine the right price for it.

What Impacts Home Values

You may have a rough idea of what your home is worth. Maybe you have recently been given an assessed value on the home, or have peeked on an online search as to what comes up for your home. Do you really understand all of the things that affect the value of your home? There are many things that may not be obvious but are important to the number that you’ll come to when you decide to sell your home. 

The Number Of Your House

Do you live at 13 Elm Street or 7 Winner’s Way? Buyers have superstitions that surround numbers and street names. Don’t be surprised if the number of your house or even the name of your street brings buyers in or sends them running. There’s not much you can do to change the house number or street name, but it’s something to keep in mind. Sometimes the reason that certain buyers are turned off from your house is truly out of your control. If you do live on a desirable street, that can help bring up the value of your home due to the demand in the area. Remember that what some consider “unlucky” others consider a blessing (like the number 13!) 

The Neighborhood

While your home may be perfectly pristine, you don’t have much control over what your neighbors do. If there are neighbors nearby that have strange items in their yards, strange colored homes, or other eccentric tastes, buyers may be turned off from your home. This could actually cause the price of your home to drop slightly. You should be prepared for this to affect the sale of your home, but don’t be discouraged. If buyers enjoy your home enough, they’ll be able to turn off that all too bright paint color next door.

Greenery

Trees and greenery increase the value of a home. Don’t think of cutting down those trees on your property unless you have to! Trees that have grown up on your property will add a lot of value to the home in the future. If you’ve been living at your residence for 20 years or so, think of the value that those first seeds and bushes you planted have added! 

Interests Are Not Universal

If you have displays, shrines, or rooms dedicated to a certain hobby, it could either be beneficial or detrimental to your home sale. This all depends on who comes walking through the door for a home showing. If you’re a Veteran and have some Marine Corps things around the houses, it could attract the attention of other Vets. However, that strange Marilyn Monroe room you have might actually deter from the pool of people available to buy your home. Buyers like to be able to see themselves living in the home. Some circumstances make it easier than others for buyers to have a vision for themselves in your home.    

Reasons to Plan Ahead for Selling a Home

Selling a home may prove to be a long, exhausting journey, particularly for those who fail to plan ahead. In fact, there are many reasons for home sellers to map out the home selling journey, and these reasons include:

1. You can identify any potential home selling pitfalls.

Although selling a home should be a quick, seamless process, problems may occur without notice that prevent you from optimizing the value of your house. Fortunately, if you plan ahead for selling your house, you can take the necessary steps to identify and address potential home selling pitfalls.

For example, conducting a home inspection before you list your residence may prove to be exceedingly valuable. This inspection enables a property expert to detect any underlying problems with your home. Then, you can use the inspection findings to prioritize home improvement projects. And once you complete these projects, you can enhance your house, increasing the likelihood of a profitable home sale.

2. You can improve your house’s appearance.

Let’s face it – few homebuyers likely will be attracted to a home with a messy, cluttered front lawn. Luckily, a home seller who prepares for the home selling journey can revamp a house’s exterior and eliminate any eyesores.

A home seller may notice assorted home exterior problems if he or she takes an objective approach. By doing so, a home seller can consider a homebuyer’s perspective and devote the necessary time and resources to bolster a house’s curb appeal.

With a stunning home exterior, a house is likely to stand out from similar properties that are available. As a result, a home with superior curb appeal may generate lots of interest from potential buyers as soon as it becomes available.

3. You can get the support that you need to succeed.

No home seller should be forced to move along the home selling journey alone. If you hire a real estate agent before you list your house, however, you can get the support that you need to succeed.

A real estate agent understands the ins and outs of selling a house and can help you plan accordingly. Therefore, this housing market professional will make it easy for you to get the best price for your house, regardless of the current real estate sector’s conditions.

Typically, a real estate agent will meet with you and learn about you and your house. This housing market professional next will tailor his or her home selling efforts to ensure that you can achieve your desired results.

A real estate agent also is ready to respond to any home selling question. For a real estate agent, there is no such thing as a “bad” question. This means you can ask a real estate agent any question about selling your house, and this housing market professional will provide you with a thoughtful response.

Clearly, there are many reasons to plan ahead for the home selling journey. If you start planning to list your house, you can improve your chances of enjoying a successful home selling experience.