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Tips For selling your home

There are lots of books and Internet resources available for selling your home. One of the best sites we've found is the Royal Banks. Here are some of the highlights.

So you've decided to sell your home. Let's take a look at all the things you can do to increase your chances of success

First of all, it helps to understand the mindset of the typical home buyer.

Most buyers have certain priorities in mind when they shop for a house. By the time they finally make an offer to purchase, they have probably visited several places which meet their basic needs.

What makes them choose one home above the others?

They may weigh the pros and cons carefully, but in the end they'll often choose the one that "feels" right.

So how do you make your house feel like the perfect home? The trick is to communicate subconsciously by appealing to the five senses.

Try these special tips practiced by savvy real estate agents to tip the scales in your favor:

Greet your visitors with the scent of fresh flowers or the aroma of freshly-baked bread or cookies
Have pleasant music playing softly in the background
Give the impression of spaciousness and airiness - remove bulky furniture, open the curtains, turn on extra lights
Display colour photos of outdoor views during different seasons near the front and back doors
Build a homey atmosphere - have family photographs tastefully arranged here and there, but don't overdo it!
Add warmth whenever possible - light a fire, turn on lamps rather than overhead lights, close curtains at night
See to your guests' comfort - prepare a spot for coats and footwear, and arrange seating to help them with their shoes/boots depending on the season

These strategies are especially effective for open houses - an occasion when it's in your best interests to pull out all the stops. For private visits, be creative and do whatever you can on short notice to make your home appealing.

Asking Price

Most sellers set their initial asking price at an amount somewhat higher than they are actually willing to accept, fully expecting a buyer to open the bidding with a lesser amount.

While price is the most frequently negotiated item in any home sale, you may be able to creatively provide financial value to your buyer - without lowering the price alone.

Major appliances such as your stove, fridge, dishwasher and microwave offer good negotiating power - while you'll likely be including some of them in your asking price, consider excluding some from the listing (the washer and dryer perhaps) to use as a future bargaining chip
Window treatments, air conditioners and ceiling fans are other extras that might entice your buyer and can be easily included later on in a counter-offer

Tips to Higher Home Prices

Here are five tried-and-true tactics recommended by real estate agents to give your home an immediate face-lift. They'll cost you little - except, perhaps, some time - but are guaranteed to bring big returns when the FOR SALE sign goes up on the lawn.

1. Tidy it up!
Hold a garage sale to dispose of unwanted and unused furniture and appliances, odds and ends you've been saving for a rainy day, and generally anything you haven't used in the last five years.

Weed out every closet mercilessly (you'll thank yourself when you start packing!) and don't forget the garage. Keep only the things you use regularly. Your home will look more organized, more spacious and more inviting.

2. Fix it up!
Take care of all the little maintenance tasks you never seem to have time for. Go through the house, room by room, and make a list. Open every door and window, turn on every faucet and check every lamp.

Repair leaky faucets, oil squeaky hinges, tighten loose doorknobs, and make sure windows and doors open and close smoothly, and change the burnt light bulbs. Buyers notice.

3. Spruce it up!
It's amazing how much better your home can look with a fresh coat of paint and how much value it can add, for little cost. You don't have to repaint everything, but do consider freshening up the rooms that need it most. Use neutral colours inside.
Outside, a gallon of paint on exterior trim, wooden stairs and banisters can also do wonders for your home's appearance. Label leftover paint cans for the new owners.

4. Pretty it up!
Curbside appeal is a big drawing card for homebuyers. Not only is it the first thing they notice when they arrive, it's the face they'll present to the world if they buy.

Make the most of this opportunity and spend a Saturday tending to your lawn and garden. Mow the grass, trim the hedges, plant some flowers and weed the garden. Make sure the driveway and walkways are clear and obstacle-free. Your efforts won't go unnoticed.

5. Clean it up!
Now that you've been through cupboards and removed all the needless clutter, get everyone in the family involved and clean the house from top to bottom.

Make sure everything sparkles and - here's the hard part - vow to keep it that way! Make sure beds are made and dishes are done before you leave the house in the morning. Interested buyers might stop by on short notice

Home Inspections

No home is perfect.

Realizing this, buyers today are encouraged to have a home inspection done by a qualified professional prior to finalizing the sale.

The inspector's role is to identify any structural problems that might affect the value of the home today or in future and, if any are identified, to give the buyer an estimate for repairs.

The buyer can then accept the fault as is, renegotiate the offer or revoke it altogether.

As the vendor, how much should you tell prospective buyers about defects - hidden or otherwise? Most experts agree that full disclosure is best.

Aside from casting doubt on your integrity, you could jeopardize the sale entirely if your buyer discovers hidden defects during the inspection.

You could also face legal actions if the home is sold and it is later discovered that you knew about a particular defect.

To protect everyone's interests, many real estate boards now ask vendors to sign a statement itemizing improvements and identifying structural problems.

Turn lemons into lemonade. Describe any major structural defects in the listing agreement, but add that you have reduced the price accordingly!

If you choose to go it alone (and even if you don't!), you have a number of external resources you can call on for help and advice when selling your home.

Don't discount the value of your banker. He or she can help you investigate your financial options - both before and after you sell - and provide you with solid financial strategies to make your home attractive to potential buyers.

Consider consulting with a real estate lawyer (or notary in Quebec) before signing the final offer. Even with a real estate agent, a lawyer/notary will ensure that your interests are fully protected. If you're selling your home yourself, a professional can relieve you of the legal responsibilities associated with the sale.

No matter whose help you enlist - your banker, lawyer/notary or a marketing consultant - make the most of their expertise. Involve them early on and avoid unexpected obstacles.

Tips courtesy of the Royal Bank. You can go to their website for more information by clicking on the link below.

Royal Bank Home Selling Center

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