You might have done some thinking on the timing of things and be wondering how it is we sold our house in CT so quickly, in this lagging and uncertain market? Well, I'll take this opportunity to give you my advice. A good motto is: Research, Preparation, and Negotiation. I'll start off by saying, our house was well cared for to begin with. We had done several improvements over the 7 years of owning and regularly maintained the bones of it.
First off, you must research who will be your selling realtor. Do not make the mistake of calling the closest or biggest agency and accepting the first agent you talk to. It helps if you have a recommendation or two from family or friends, but keep in mind what works for them doesn't always work for you. In my case, with the time crunch we were under, I gave myself a week to interview realtors. During that time I looked up and interviewed three realtors. A good website for a list of questions to ask is: http://homebuying.about.com/od/realestateagents/tp/Agentinterview.htm Mainly, I was looking for someone who was an aggressive internet marketer, a proven track record of sales within %3 of list price, an excellent communicator, and just friendly and easy to get along with.
Now if you don't already know what houses in your area are selling for you can find this out easily, a great site is http://www.zillow.com/. It will detail your whole neighborhood and the current market value of every house. Of course, your realtor will also do this research and give you a recommendation on your starting list price. Listen to them. You must ask yourself what is more important to you...getting out or pride.
Next, you must prepare your house for showing buyers. I will admit I'm an addict of HGTV and there are a few shows on there that will show you what to do to make your house really stand out from your competition. The main concept is de-clutter, depersonalize (but not too much) and finish projects. We took two weekends to get the house ready. One weekend for painting, somehow although I loved the light lavender in the living room, it probably wouldn't be everyone's cup of tea. Another weekend was devoted to packing up personal photos, clutter and thorough cleaning. Even if you're a neat person there is always something you can lose. Generally, buyers don't want to see your stuff and notoriously lack imagination on how to set up a room. So make sure all of your space is defined well, have a little color, and is clean. It is best to do this before your realtor shows up to take pictures for marketing. As they say, a picture is worth a thousand words, in your case it will be dollars.
Finally, when that offer comes in, be prepared to negotiate. Typically, if your house does not need any major renovation, a buyer will start off with an offer ten to fifteen below asking price. Don't be upset by this, its just a starting point and hopefully you can meet them in the middle. You can throw in appliances or furnishings in great condition as an extra incentive to get that buyer to agree paying a couple thousand extra. First time buyers especially appreciate this. Have your rock bottom price you'll accept in mind, and if there is a lot of back and forth you can end it by saying, that is your final offer. Be careful though, if you pull that bluff too soon, the buyer can just walk away. My final comment is regarding the home inspection. There's always something an inspector will find that the buyer will ask to be fixed or get money at closing to deal with themselves. For the small stuff, it is better to fix yourself or even hire a licensed contractor to do. We had a few minor electrical issues that were brought up. The buyer asked for a licensed electrician to fix it or two thousand off purchase price. It would've been ridiculous to adjust the purchase price when hiring an electrician only cost us $350.00 for a few hours of labor and parts.
Using this knowledge we were able to sell our house in just over a month. Our closing is today in fact! Lucky for us attorneys can take care of the paperwork, and we don't have to physically be there. I expected to feel a sense of loss when selling, but I was so focused on packing and moving there was no time or energy left to mourn. I'm here now and excited for the future!
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