Selling a house in Pennsylvania can be just as time-consuming and stressful as anywhere else in the United States. The process can be emotionally challenging as strangers come into the privacy of your home for viewings. They are likely to carefully inspect and criticize aspects of a house that symbolizes much more than just a structure.
Oftentimes, homeowners selling up have little to no experience and first-time sellers will face a range of difficulties. In addition, to the emotional drain of selling a house, there are several other challenges involved including:
- Pricing the house correctly; potential buyers will be put off by unrealistic prices. Carrying out a comparative market analysis will help determine a fair price.
- Receiving offers that are below the expected asking price
- Getting enough interest and viewings
- Decorative or structural issues with the property that may discourage potential buyers
- Offers from unqualified buyers
- Finding an experienced and reliable real estate agent
Finding an Experienced Realtor
The real estate market is hot right now and homeowners are receiving great offers throughout Penn State. Selling a home takes a lot of work so if you are trying to sell your home fast in Lancaster, PA, or other desirable areas it is advised to find an experienced and reliable real estate agent. They will bring valuable expertise and knowledge to the table to ensure a house is sold for a fair price.
The main tasks of real estate agents are to advise home sellers on market conditions such as competition and average prices. Competent real estate agents will market and present the property in an attractive way to potential buyers.
Selling at the Right Time
The real estate market is fickle and the value of homes fluctuates regularly. Therefore, it is a good idea to carefully watch the property market to decide on the best time to sell a home.
Some homeowners need to sell properties quickly, however other people have time to study the long-term trends in the real estate market. This can help them to predict when home valuations are likely to increase so they can reap the maximum rewards from their equity.
Typically, the autumn months are best for selling homes in Pennsylvania and the average time on the market is between one or two months. Although since it is a seller’s market in the state, homes may sell much faster.
Deciding the Right Price for Your Home
Correctly pricing a home is a complex process. A homeowner must ensure the valuation is not way below the market average whilst at the same time, the price should be fair for potential buyers.
Properties that are valued over the average asking price are likely to sit on the market for months. Hence, it is recommended that home sellers try to remain updated about the property market in their area of Pennsylvania.
Real estate agents familiar with the property market in your area can help you to correctly price your home. This is done by completing a comparative market analysis that measures the current valuation of your home against the price of similar properties recently sold in your neighborhood.
When pricing a home several factors are taken into account, these include:
- Location; is it on a busy main road or in a quiet suburb
- Size; the total floor space and footprint of a property
- Age and condition; when was the property built and how well has it been maintained over the years
- Renovations; have new rooms being added such as attic conversions or sunrooms
- The value of similar homes in the area
- The condition of the local and national economy
- Interest rates; when they are high fewer people can afford to buy property
Preparing a Home for Viewings
For a home to sell quickly for the desired price it should be ready for potential buyers to view anytime. Homeowners looking for a faster sale should focus on staging their home to make it attractive and organized. This will help to leave a positive impression on prospective buyers and increase the chance of a beneficial sale.
When staging a property, homeowners often focus on presenting the layout and the potential of its rooms and spaces. This can help potential buyers to visualize how they would spend time and build a life in the home.
Before being placed on the market, houses need to be decluttered and unnecessary obstacles or distractions removed. Furniture can be moved around to make it feel more functional and spacious. Whereas walls can be touched up with a new lick of paint.
Additionally, any major structural or decorative problems should be fixed and renovations that can add value should be considered.
Marketing a Home for Sale
Without getting the word out and marketing a property for sale it could take months to sell and the final price may not be what the owner expected.
Property sellers should take high-quality photos of the interior and exterior of a home, including several clear pictures of each room. Posted on social media platforms, realtor websites, and local property listing sites will make the property visual on the market and grab the attention of home buyers.
Along with photos of a property, homeowners should provide detailed descriptions of the home’s layout and facilities including its size, number of rooms, and garden space.
Dealing With Negotiations
It can be an exciting moment when homeowners receive an offer for their property. However, that is not the end of the sale process as there is an opportunity for the offer to be weighed up and a counteroffer proposed.
The process of negotiation may go on for some time until a price is agreed on by both parties or someone leaves the negotiating table.
Once a price is agreed, a purchase agreement will be signed which will document the agreed price, disclosures, and other conditions.
Paperwork and Disclosures
In Penn State, the regulations state that property sellers must disclose any material defects to a building before a sale is closed. These include damage to the structure, pest infestations, plumbing problems, electrical issues, and water damage.
Going through the process of listing a home and selling it for the price you want can take some time and involves many challenges. Therefore, homeowners looking to sell their houses need to consider the many factors and crucial tasks involved.