It’s common to be confused or uncertain about the right course of action to take when selling your property. Should you make repairs, how much cleaning needs to be done, how long will it take to sell, and what options you actually have are all things we often help guide sellers through when the time is right to sell their property in Madison and throughout Dane County.
If you have never sold a house before, the entire process can feel even more arduous and overwhelming. There is a lot to do, and without the right people on your team, you can find yourself overwhelmed and unsure of how to proceed. There are many expenses to consider, as well as red-tape and delays often caused by lenders. Below, we offer some of our best tips for homeowners who are ready to sell a home in Madison and the surrounding areas.
You Do Have More Than One Selling Option – Know What They Are!
First and foremost, know what your options are. This is a sore point around Wisconsin House Buyers, LLC as we often hear from sellers that reach out to us about how real estate agents and investors alike try to force them into thinking that their option is the ONLY option. That’s just not true and you always have multiple paths that you can and should explore when selling a home, whether it’s your first time or your fifth. It’s important that you analyze the different selling methods and factor in what each will cost and what benefits they will each provide. Listings with a real estate agent are great for homes that need little work and that don’t need to be sold right away. Listing can take some time and there are often expenses for repairs, cleaning, marketing, and other listing costs.
A direct sale can often be the better choice for properties that need work, that are burdened with liens or tax problems, or that need to be sold within a specific amount of time or on a certain date. Direct buys such as Wisconsin House Buyers also have a lot more flexibility on terms and can provide a more holistic approach if you will to selling your house. Don’t assume that you need to hire and pay an agent for helping you sell. Don’t assume or provide any cash buyer with any fee. If somebody on either side tries to talk you into believing they are the only choice, be wary and consider carefully before entering into any type of agreement with them.
What is the Madison Market Telling You?
When selling your house in Madison, it’s imperative that you know a bit about current market conditions. Take some time to research trends and recent sales. Determine what your property is really worth and how those amounts have changed over time. By having a realistic picture of what your property is worth, you’ll be able to negotiate for the price you want. The best investors out there make it a point to learn as much as possible about current properties for sale and what’s going on in the local market. If you need help analyzing what your property is worth, any investor or real estate agent should provide this to you free of charge. If they don’t, then you shouldn’t work with them.
Price, Price, Price
It’s important to acknowledge the importance of price. That being said, while our clients would like to get a good price for their property, they also have other concerns that make selling a house directly more advantageous (timing and other terms). Regardless, pricing your house is important especially if you choose to list the property. Pricing the home too high from the beginning will likely net you less money when all is said and done. An overpriced property will sit on the MLS (listing retail market) longer, need to be reduced, and lose its overall appeal to potential buyers. The house will fall lower and lower in the search results, often making it an afterthought for buyers looking at houses in the Madison area. Incorrectly pricing a property is one of the biggest mistakes sellers make. Alternatively, with a direct sale to Wisconsin House Buyers, LLC, you won’t have to worry about pricing or trying to determine an accurate value. If the price works for us both, great, let’s move forward. If we can’t agree on a price, we’ll help you explore other options and make sure you achieve your goals with the property if at all possible.
Making Repairs and Cleaning
If you decide you want to list the property with a Madison real estate agent, you’ll need to prepare the house for the market. This means you will need to possibly paint the walls, replace old carpet, update hardware, replace old fixtures, swap out appliances, and make any repairs the property needs. You’ll also need to clean the house, keeping that way for property showings. Your costs can add up quickly, so if you choose to hire an agent, make sure the upfront costs are taken into consideration before signing a listing agreement.
Understand The Costs
If you choose to list, it’s important to know what it will cost you. Many people fail to factor in costs for cleaning, upgrading, or making repairs. As mentioned above, it can take a lot of work to get a property ready for the MLS. You’ll also need to factor in marketing costs and the cost of your time. How much will it really cost you preparing and showing the property? With an agent, you will also need to factor in commissions, agent fees, administrative expenses, and closing costs. Every one of these expenses can be avoided with a direct sale to Wisconsin House Buyers, LLC.
Work With Professionals
No matter how you decide to sell, always make sure that the people you are working with are honest, professional, and passionate about what they do. If you list, your agent needs to fight for you, getting the best price possible on your behalf. If you choose a direct sale, Wisconsin House Buyers, LLC knows how to efficiently close, making the selling process simple and convenient for you. Not every investor is the same. When you work with us, you can be assured you will receive the best treatment and the best prices possible. If you plan on fixing up the house before trying to sell it, make sure the contractors you are working with are known to you or come highly recommended. You don’t want to find that you are throwing your money away on repairs and upgrades that don’t offer a return.