Congratulations on your decision to sell your house! Now the hard work begins. You will realize along the journey that selling is much much harder than buying. When it comes to selling, there is no single recipe. It is a function of wait time, asking price, market condition and cost of repair. The recipe that will suit you will depend on order of importance of the above parameters. Here is a typical timeline:
Once the house enters the market, you may have run iterations of the above steps.
For e.g., you may have to bring down the price of house if its not attracting buyers or spice it up a bit more if you are stubborn on the price. The details of each of the steps can be viewed online, but soon one would realize its more an art than science. Frequently one has to iterate the above steps based on the feedbacks. This blog discusses some ways to get the elusive feedback
- Websites which help deciding the market price of the home. Sites like zillow, redfin should help one in this regard. Be wary of ‘sellers bias trap’, its always a good idea to check your expectations with http://www.comelyhouse.com/
- Staging or improvement tips before marketing house. Houzz and a few other blogs provide expert tips on home improvement. If you are deciding to do home improvement yourself, get feedback from friends. http://www.comelyhouse.com/ would be a great site to get bias-free feedback on photos you decide to post.
- Decision to spend on repairs/mark down the price of the home is a very subjective decision. I would recommend one make a decision based on age of the house. On a older house staging is less important than fixing fundamental problems (plumbing, kitchen, flooring)
- Marketing your house is the next important step. Selling a house is like selling a startup. We recommend online portals like redfin, zillow, trulia to reach wider audience than selling through agents or selling directly. This is a very iterative step. Keep changing your strategy based on the market feedback