Are you trying to either sell your house or purchase a new one but you’re unsure if you’re getting a fair deal on it? Here are some helpful tips to follow to ensure that you’re truly getting what the home is worth.
1. Look at Recently Sold Properties
Before you list your home or buy a new one, you’ll want to check out properties that are similar in size and condition. There may even be ones that are in the same neighborhood. When you do this, you’ll be able to gauge how the property compares in price with different houses. You can also look at homes that are still in escrow, which means that they have a buyer but the sale isn’t fully complete.
2. Check Out Other Homes on the Market
Another thing you can do is check out homes that are currently listed on the market to see what kind of amenities they have to offer. If you’re trying to sell your home, how do the others compare to yours? Are they bigger or smaller? Updated or need repairs? This will help you get a better idea of how competitively you can list it or how high your offer should be as a buyer.
3. Get an Appraisal and Inspection
It’s smart to hire an appraiser to come out and determine the value of your home. To do this, they will look at comps in the area and factor in things such as age, renovations, landscaping, and lot size. If the appraisal report comes back higher than you thought, then you’re in luck! However, if it’s lower, there may still be a chance to renegotiate or adjust the purchase price. An inspection will also be helpful because it’ll tell you what kind of repairs need to be made on the home.
4. Learn More About the Current Market
Understanding what kind of market you’re in is huge when it comes to buying or selling a home. Are you in a buyer’s market or a seller’s market? Think about if prices have been going up or down lately. Ask yourself, “Does the timing make sense right now or is it better to wait?” Knowing this will help you decide how much you really want to buy or sell and if you’re in the right situation to do so.
Buying or selling a home isn’t something that you want to rush into. It takes time to research and make sure that you understand the true value of your property. Unfortunately, however, some situations don’t always allow you the proper time that you need.
If you’re facing financial challenges, going through a divorce, or experiencing other difficult situations, you may need to sell your house fast. That’s where we come in! At Enlight Homebuyers, we buy houses in any condition and on any timeline. Give us a call at 1-800-655-8322 or fill out the form below. We look forward to speaking with you!