Ready to sell put your home back on the Tennessee housing market? Here are ten essential tips to get the best offers and the fastest turnaround on your sale:
Identify your selling goals
When you sell your home, what is your ultimate goal? Is it to sell fast or to make the biggest returns on what you originally paid for the property? Or do you want to strike the perfect balance between the two?
The answer to these questions will shape the strategies you choose for the rest of the selling process.
Hire a local real estate expert
Working with an experienced real estate professional with keen knowledge of your local area is a huge advantage. Your agent’s expertise, guidance, and professional connections are keys to navigating the home selling process with as little inconvenience and stress as possible.
Get your house ready to sell
Make sure your property is in its best condition to impress potential buyers. Here are key steps to achieve this effect:
- Do a deep clean in every room inside the house and all areas around the property
- Get essential repairs done, especially on frequently used but often overlooked amenities such as plumbing, light switches, door hinges, etc.
- Store away personal items and décor
- Brighten up living spaces by keeping curtains open, setting up lamps in strategic corners, and replacing old light bulbs
- Paint the walls in a neutral shade such as gray, beige, or off-white
- Boost the home’s curb appeal by cleaning, repairing, and updating the exterior of the home, including the lawn and driveways
- Hire a professional stager and photographer to capture the property in its best angles for your marketing materials
Price your home competitively
Avoid overpricing your property. This strategy will only leave your house ignored by savvy buyers and their agents on listings pages. Accurate, market-based pricing will help you attract more serious interest.
With help from your agent, compare prices of properties similar to your house – based on size, features, and location – that are currently on the market or have been recently sold. This will help you find the right range to base your asking price on.
Look at expired or pulled listings, too. These examples can provide important insights on unsuccessful selling strategies and even unpopular home features.
Make all legally required disclosures
Tennessee home sellers are required by law to provide buyers with a disclosure statement that identifies any known material defects and hazardous environmental conditions on the property.
Property disclosure forms typically include a series of “Yes” or “No” questions about the condition of the property. If you are fully unaware if certain defects on your property, you may indicate “Unknown” on the form.
Consult your agent about the specifics of the property disclosure form that you need to accomplish.
Determine the best time to list your home
While spring is typically the best time to sell homes in Tennessee, particular conditions may vary from one county or city to the next. Ask your agent to help you determine the best time to maximize exposure and visibility for your listing.
Entertain buyers for home viewings
Open houses and individual home showings are excellent ways to speed up a potential sale. Open houses are great for attracting and increasing interest among several interested buyers, while individual viewings give buyers more time and space to scrutinize the property. When you choose to host private viewings, offer flexible schedules to give interested buyers ample opportunities to visit at their convenience.
When your listing goes public, offers will soon come in. Be wary of getting too excited and jumping at the fastest and biggest offers that you receive. Work with your agent to review every detail, especially contingencies that the buyer would like to have accomplished before the sale is closed.
If you find an offer that you like, work with your agent to negotiate toward final terms that will be mutually agreeable between you and your potential buyer.
Cooperate with all contingency measures during escrow
Once a purchase agreement is signed between you and the buyer, it’s time to complete the contingencies during the escrow period. As the seller, make sure that professional home inspectors and appraisers have access to your property to facilitate these necessary steps. If the home inspection reveals minor issues or defects, work fast to have them repaired so that the buyer does not request to renegotiate the final deal.
Close the sale
After completing all contingencies, you and your buyer can finalize the deal. If you and the buyer agreed to do a final walkthrough prior to signing the paperwork, closing will take place at the property. Otherwise, closing can be done by both parties separately.
At this point, ownership of the property is transferred to the buyer, while you will receive the buyer’s earnest money deposit previously held in escrow.