Before You Advertise - Prepare
This is where a lot of sellers go wrong, and cause themselves a lot of unnecessary stress, perhaps even a lost sale. Before advertising your property for sale, you should take a little time to put your ducks all in a row. A little advance preparation will save you a world of aggravation later.
The very first thing you should consider doing is a thorough room-by-room inspection of your home, and foot-by-foot inspection of your property. This is a time to be generous with objective criticism. Bring a legal pad and pencil, taking note of every single little defect you can find. Do not be concerned about having to fix them all, or what it may cost - your objective here is to make absolutely certain you know everything about your home. Reasons why: a) most states have disclosure laws - if you fail to disclose certain things, you could end up in court; b) during negotiations, the buyer and/or his inspector will not toss you any curves you are unprepared for, and c) you will have the opportunity to mend or cover many, if not all minor defects prior to showing your home. In Appendix A you will find a checklist of many of the more typical tasks that should be done prior to showing, to insure "curb appeal" and the best possible showing of the home.
Let us consider the exterior of the property, bearing in mind that a buyer's first impression is very difficult to change. Therefore, make sure that impression is the best you can afford. Studies indicate that approximately 50% of home buying decisions are actually made during the first minute after seeing the property. Therefore, the front entrance exterior is the most important part of the property, insofar as curb appeal is concerned. If you must cut fix-up costs, do not cut them here. Another reason to do outside improvements first: you will likely track dirt inside. Better to do this before you spiff up the interior :o)
The first thing an approaching buyer actually looks at is the home's exterior. Take a hard look at it. In most cases, a fresh coat of paint (or, if vinyl siding, a powerwash) can add the greatest amount of curb appeal per dollar spent. Shutters painted, windows and doors caulked and sealed will tell buyers that you have kept the place in good repair. If any ancillary items are not up to snuff (doorbells/knockers, rain gutters and spouts, steps and railings etc.) fix, repair or replace them. This is a good time to check that all windows and doors operate smoothly - if not, they should be fixed. If the facade of your home is rather bare, consider putting up window boxes, complete with blooming flowers. Remember - that first impression means a lot.
Now for the yard. If there is any debris, remove it. Gardens should be weeded and a layer of mulch put down, to create a neat appearance. If gardens are not in bloom at the moment (and the time of year permits), consider buying some blooming annuals to add color. Unclutter any areas where toys, tools or other objects create a visual slap in the face. Neatness counts! Studies have indicated that clutter, either in or outside a home makes everything seem smaller and more cramped. This is not the impression you want to give.
Sometimes, a new front door will do wonders for a first impression. If yours is beginning to show its age, consider replacing it. Polish all metal items, such as knockers, street numbers, doorbell, light fixtures. And make sure all these things actually work. While checking out the front entrance area, check for and repair steps that may be out of kilter, broken, wobbly etc.
Keep lawns neatly mowed and edged, and gardens free of weeds and dead plants. Prune shrubs and trees as necessary. If plantings have grown too large - especially those near the foundation, consider cutting them back or removing them. This can improve light and air circulation, and help create a neater, less cramped impression.
Well in advance of advertising your home, get your lawns in shape with fertilizer, regular watering and trimming. It takes time to make a sickly lawn into a healthy turf that people feel good about.
Oil stains in the driveway should be sealed or otherwise removed from sight. Paved drives should be swept or blown regularly, as should all walkways. Missing or broken pavers in walks or patios should be replaced. If you have a garage, make sure the doors open smoothly, and any remotes work effectively.
Decks and porches should be checked for clutter and eye-appeal. Equipment such as barbecues or outdoor furniture should be cleaned, or even painted (bbq's require a high heat paint). Broken rails should be replaced. Adding potted plants in strategic places is a good idea.
Outdoor rec areas such as swimming pools should be clean and all pumps and equipment running smoothly.
Now it is time to crane your neck - how does the roof look? If shingles are torn or missing, they should be replaced. Rain gutters should be cleaned out. If you have a TV antenna, make sure it is straight.
OK, if I haven't completely worn you out yet, take heart - there is still the interior :o)
Clean everything. Wash all windows until they sparkle, and remove any clutter. You should try for an image of spaciousness, and cleanliness is an absolute must - if a buyer is not impressed by the clean nature of the home, he may well assume that things he cannot see are also in a state of disrepair, and not properly maintained. Remember - buyers aren't just judging the home - they are judging you, as well. If they believe that you are the kind of person who neglects things - even details - they may make assumptions about the home that coincide with their assumptions about you.
If walls/ceilings need a fresh coat of paint, break out the brushes, but try to use neutral colors - shades of off-white are best. This is because buyers often opt to repaint, anyway, and such colors are easily covered with another color. And for those buyers who may not want to repaint, off-white goes with just about any decorating scheme. Rest assured, Mrs. Buyer Is contemplating such things when she tours the home, and the missus carries a lot of weight in the decision process.
Now refer to that inspection sheet you wrote up earlier. Tackle those items that are most noticeable, first, along with those that are quick, easy and cheap to fix. You may have to give serious consideration to repairs that will take either a lot of time or money - you may just decide it is more cost effective to reduce the asking price, and let the buyer take care of it. Whatever you choose to do, understand that most buyers today - and their lenders - will require a professional inspection. Keep this in mind when determining what repair jobs will be left undone.
You may also want to take note that, in addition to competing with other homesellers, you are also competing with all the brand spanking new homes being built in your area. Hence, all lights should work, windows and doors should operate smoothly, all toilet and kitchen fixtures should be immaculate and function like new. Make sure all heating and cooling equipment is clean, tuned up and operating correctly. Pay attention to details - because your buyer most certainly will.
Homes that appear spacious and with plenty of storage space will sell more quickly, and at a better price. Removing clutter, even in closets, is a good start. To create the impression of spaciousness, strategically placed mirrors can make a room seem much larger. Especially good is to have bi-fold closet doors in bedrooms replaced by glass units. Mirrors also distribute light, making spaces seem more "airy" and pleasant. But avoid placing mirrors near strong lighting - the reflection could seem harsh.
OK, so the carpets have been shampooed, everything has been cleaned and polished, all knobs and pulls are nice and tight. You have used up 2 gallons of polish, and have something similar to tennis elbow from all the rubbing and cleaning. Things that are supposed to function in a certain way are doing so. Are you finished? Not quite.
Homes tend to develop their own odors over time. Do not try covering them with scented room deodorizers. Instead, air out the home daily, if possible. There is nothing better than no odor, other than fresh air.
Note that, as the homeowner, you likely do not look up very often. But trust me - your buyer will. So check out your ceilings and make any needed repairs. Dust off the ceiling fans.
Basements and garages need attention, as well. Cobwebs should be made to disappear, tools should be organized and oil spills should be dealt with. If, like myself, you have managed to collect a rather huge assortment of stuff that the wife calls "junk", consider renting storage space for some of it until after you have sold the house. This goes for the wife's collection of treasures that you call junk - you know, all that stuff in the closets.
Before making any major repairs that are not necessary for proper function of the home, realize that few such renovations will return 100% of your investment. In such cases, let it go, and let the buyer take care of it if he so chooses.
NOW you are (almost) done.
There are a few other things you will want to do before advertising your home. You will want to check on a warranty for your home - there are companies both in the real world and on the internet that will provide warranty for you home. Buyers want a warranty, and feel much better about buying a home that offers one. At this time you may want to shop for rates for Title Insurance. When the time comes to provide it for closing, you will already know where to go and how much it will cost.
Determine if any personal property, such as the lawn mower, appliances etc. Will be included in the sale. If so, prepare a Bill of Sale for these items, leaving the buyers name & address and the date blank for now.
Another bit of business that should be attended to - line up an escrow agent or Title Company to handle escrow, when the time comes. When you have a buyer, it's nice to know you can immediately set up escrow, rather than try to sift through agents to find the one you want to work with. A later chapter will deal with how to choose an escrow agent or Title Company.
One last thing you want to do - get the contracts you will be using when a buyer arrives on your doorstep. There is nothing worse than to have an eager buyer waiting to sign, and you have no agreement available. If you received this book directly from IntelliBiz or FIZBOs Online, it probably came with very good agreement writing software, so you are all set. Otherwise, you will likely need to go to an office supply store and pick up a handful of "generic" Real Estate agreements. Before using those, however, do yourself a favor and read the chapter on CONTRACTS. I am certain you will find important items you will want to include in your agreements.
NEXT: Methods of Advertising
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