If you're thinking about selling your home, you probably have lots of questions! Here are the top 10 questions home sellers ask, along with detailed answers to help you through the journey of selling your home:
1. What's my home worth?
Understanding your home's value is the first step to a successful sale. Comparing your home to recent comparable sales and taking into consideration the impact of factors like location, size, upgrades, and market conditions can be complicated, but getting it right is an essential first step when selling your home. Here at the Don Petrasek Team, we are constantly in the market with buyers and have a first-hand understanding of what buyers are willing to pay extra for along with things they view as negatives. Because of this and our experience pricing dozens of homes every year, we can give you an accurate picture of what your home is likely to sell for in today's market.
2. Should I make repairs or renovations before selling?
Minor repairs and updates can enhance your home's appeal and increase its market value. Focus on repairs that are relatively inexpensive and address safety concerns or glaring issues, such as leaky faucets, damaged flooring, or chipped paint. Major renovations should be approached cautiously, as they almost never yield even a dollar-for-dollar return on investment. The Don Petrasek Team offers a listing package option that includes handling small repairs or cleaning.
3. How long will it take to sell my home?
The time it takes to sell a home varies based on factors like market conditions, pricing strategies, and the property's appeal. In a seller's market with high demand and low inventory, homes tend to sell more quickly. Conversely, a buyer's market may result in a longer selling process. With 30+ years of real estate experience, our team can accurately provide you with insights into current market dynamics and realistic expectations for selling timeframes. We also create a marketing plan that's specific to your home and designed to minimize market time while getting you the best price possible.
4. Do I need to stage my home?
Staging involves arranging furniture and decor to showcase your home's best features and create an inviting atmosphere for potential buyers. While staging is optional, it can significantly impact buyers' perceptions and help your home stand out in photos and showings. The Don Petrasek Team can evaluate whether or not an investment in staging would result in a good return and provide you with staging tips or connect you with professional stagers if needed. The Don Petrasek Team offers a listing package that includes staging consulting services.
5. How do I handle offers and negotiations?
Receiving an offer can be exciting yet nerve-wracking. Your real estate agent will present offers to you and guide you through the negotiation process. Consider factors like price, contingencies, and closing timelines when evaluating offers and most of all the likelihood that the buyer will actually close the deal. The Don Petrasek Team has over 30 years of negotiation experience, which we leverage to achieve the best possible outcome for you.
6. What are closing costs, and who pays them?
Closing costs are fees associated with finalizing the sale of a home and transferring ownership from seller to buyer. They typically include expenses such as title insurance, attorney fees, and escrow fees. The allocation of closing costs between the buyer and seller can vary depending on local customs and negotiated terms but will always be outlined in the purchase agreement.
7. Should I disclose known issues with my home?
In most states, including Ohio, sellers are required to disclose known material defects on a Residential Property Disclosure Form (RPDF). Most buyers will get a home inspection - which will almost always uncover issues - so disclosing known issues upfront builds trust with potential buyers and reduces the chance of future legal issues if they discover them later. Transparency can also help attract serious buyers who are prepared to deal with the issues or factor them into their offer price.
8. How can I maximize my home's curb appeal?
First impressions matter. Enhancing your curb appeal can attract more buyers and potentially increase offers. Simple improvements like freshening up landscaping, painting the front door, and cleaning exterior surfaces can make a significant difference. The Don Petrasek Team offers listing packages that include professional photography to showcase your home's exterior in online listings.
9. What happens if my home doesn't sell?
If your home doesn't sell within the expected timeframe, reassessing your marketing strategy and adjusting the listing price may be necessary. Your real estate agent can provide insight into market trends, review buyer feedback with you, and recommend potential changes to attract more buyers. Depending on your situation, you may want to explore other options like renting or lease-to-own agreements. The Don Petrasek Team has not had an unsold listing since 2018.
10. How can I prepare for the closing process?
As the closing date approaches, ensure all necessary paperwork is in order and address any outstanding contingencies or conditions outlined in the purchase agreement. Plan for a final walk-through with the buyer to verify the home's condition and address any last-minute concerns. Because we complete 25-30 transactions every year, the Don Petrasek Team knows where the issues are likely to arise and works closely through every transaction to make sure they don't.
Have More Questions About Selling Your Home?
At the Don Petrasek Team, we understand how difficult it can be for inexperienced home sellers or those who are selling their homes for the first time in a while to be able to go through this journey alone. That is why we are always available to answer any question you may have. Have unanswered questions about your house? Schedule a meeting with Don today: https://calendly.com/donpetrasek/15min?month=2024-04
