How To Prepare Your Home For Sale

When you make the tough decision to sell your home, there’s a lot of work to do just to prepare for a sale. If you’re listing for retail sale, prepare for potential buyers and nosy neighbors walking through your house. For a quick cash home sale, it’s much less work. Regardless how you decide to sell your home, there are some steps to take to prepare.

We aren’t lawyers or accountants, and don’t play them on TV, but we know real estate and hope to offer some valuable advice. We’re local to Philadelphia, but this advice could be applied elsewhere too.

Planning

To start, you need to have a plan for your future:

• Where are you going to live?
• How soon do you want to you move?
  • Are you under pressure to move sooner?
• How long will it take to pack all my things?
• Is there anyone else I need to clear this with? (if other people live in the home or own the home with you)
• Will I need to buy or rent a new place to live?
  • Can I afford the down payment?
  • How’s my credit to qualify for a new mortgage?
  • Can I take my existing mortgage with me?

You don’t need to have clear answers to all these questions yet – well, maybe the last one, but start to think about them.

Documentation

Then you’ll need to get some documentation prepared:

• Documents showing mortgage balances (if any)
• Original deed when you purchased the home
  • If other people are listed than you, you’ll need to discuss the home sale with them
  • If the original owner listed in the deed is deceased, you’ll need to start an estate and talk with the executor, if that’ isn’t you
• Some form of legal ID
• If you have receipts and invoices for work done to the property, these could come in handy

Valuation

At some point you’ll need to get into more detail:

• How much is my home worth?
• How much will I actually make from the sale? Start with how much your home is worth, then deduct:
  • 5-6% commission if you’re listing with a real estate agent (5-6% is common in Philadelphia)
  • If you have any violations, past due taxes or utility bills, add them up and deduct them from the sales price too
  • If the home hasn’t been your primary residence for five years at time of sale, factor in capital gains tax
  • You might have some land transfer tax to pay too; in Philadelphia it’s common for buyers & sellers to split this tax evenly

That’s a lot to consider, especially if you’ve never sold a home before. An experienced real estate agent or cash house buyer can help you through the numbers. The quick cash home buyer will offer an as-is price for your home that doesn’t require you to make any repairs. However, the real estate agent will likely recommend some things to do to prepare for a retail home sale. These things can include:

• Declutter rooms
• Thorough cleaning
• Paint walls
• Landscaping, at least to the front of the home
• Repair things that are obviously damaged or broken

The above list will change depending on your home. There are much more things you could do to increase value such as renovating the kitchen or bathroom, adding an additional bathroom, or installing air conditioning. If it’s the middle of a hot muggy Philadelphia summer, lack of air conditioning will limit your pool of potential buyers.

Wrapping Up

This might sound like a lot of work, but you don’t need to do it all at once. Whomever you decide to partner with, whether it’s a cash buyer for a quick cash house sale, or an experienced real estate agent, they’ll help you work through each step. The important thing is to work with someone knowledgeable that you trust and you’re comfortable working with.

We work with house seller’s looking for information on how much their house is worth. All consultations are confidential and respectful. We can tailor each transaction to fit your unique needs, and can even help you find a new home.

You can speak with us or another cash house buyer to get an idea of price. If you want a retail sale for maximum price, talk with a real estate agent too. Don’t pay for consultations or evaluations. These services should be free, and whomever you work with will make their money only upon sale. At least that’s the norm in Philadelphia and most places in North America.

If you aren’t sure where to start or questions to ask, get in touch. We’ll reach out to you and learn what your unique needs are. We can craft a plan together that works for everyone involved.