5 Things Beginners Need to Know Before Selling Their Property Privately

Once you’ve made up your mind to sell your house it’s time to put the preparations into order. Selling a house requires a noble effort, patience and time of the seller.

If you’re going through the process for the very first time, do not be intimidated by all that you would be required to do to successfully complete this process. This brief guide will get you started. Here are five tips on how to sell a property on your own, especially when you’re a beginner:

Research for the Optimum Price

When you’re going through the process of selling your property alone without a real estate agent, then you really have no idea what the price tag over your property should be. The best way to put a suitable price on your house is to research the market. You can gain the service of an evaluator or property appraiser if you want to for your convenience.

Estimate the Costs

The biggest possible expense when you’re selling the property without an agent is probably going to be for advertising. However, there are social media platforms that you can use at your disposal to advertise your property, but there might a need of an advertising firm. These firms will help you with the brochures and getting the word out there that your house is up for sale. Though the cost may vary depending on your house, on an average the advertising expense may range from $2,000 to $15,000. However, the most important tip here to plan and manage your advertising cost efficiently.

Campaigning the Sale

Once your house is up for sale you should start campaigning for it. You need to make sure that people are aware of your house is on sale. You need to put a “for sale” signage on the driveway to let others know. You can also campaign your house online on social media by uploading recent photos and by answering people who are responding to your posts and are showing interest.

Maintain Your House

This is probably the best time to start the repair and maintenance work on your house that you have been keeping in pending. This is because very soon interested parties will start ringing your doorbell. For that, your house should be in its neatest and attractive state. Mostly people repaint their property, replace the faucets, tidy the place up and change the fixtures. You only get one chance to impress the buying party. Thus, you need to utilize that one chance well.

Prepare the Paperwork

You need to keep all the paperwork lined up and ready. The documents of your house, mortgage deed, utility bills and tax papers. Make sure you have all the permits from the city or town, any outstanding dues are cleared and you have the zoning certificate, relevant disclosures and certificate of title. Also, in order to carry out the sale legally, you have to make sure you’re aware of all the prevailing laws about the sale of property in order to avoid any violation of the law.

Selling a property privately without any professional assistance of a realtor is a task that’ll keep you busy for upcoming months. Having some knowledge about property transactions will come in handy for sure, but even if this is your first time, just being a prudent seller will get you on the right track.