Like the rest of the country, the North Carolina property market is on fire right now. Investors are on the prowl for houses, with 21% of homes in Durham County being sold to buyers with more than one home.
Would you like to capitalize on this vibrant market, but don’t know where to start? We’re here to give you a helping hand. Selling a house is both a science and an art.
We have five top tips on how to sell a house to help you seal the deal. Let’s take a closer look.
1. Decide On Your Sales Strategy
To sell a property as quickly as possible, you have three main options. You can go down the traditional route and work with a realtor. He or she will market the property, show folks around, and take their cut once the sale goes through.
You get the benefit of their experience and local knowledge. Plus, they come with a book packed with contacts they can use to get people through the door.
The second option is for sale by owner (FSBO). This is a little more tricky, as you don’t have a property expert helping you to price and market the property. Plus, you’ll have to conduct the tours yourself and handle the negotiations.
However, there’s no realtor to pay at the end of the day. If you’re confident and have the time, this can be a good strategy.
If you need to move in a hurry, selling your home to a home buying service could be a great choice. Did you inherit a property? Or is your home in bad shape?
Whatever the backstory, cash property buyers can sometimes complete the purchase within days. This can allow you to move on with your life without the responsibility, and put some cash in your pocket.
2. Research the Market
We style our homes according to our taste and usually don’t care that much about what anyone else thinks. That is, until it’s time to sell your house.
Then other people’s opinions are really the only ones that matter. To sell your house quickly and for the best price, you need to give the people what they want. But how can you find out what that is?
Start with researching other properties in your neighborhood that sold recently. Look at prices in the same style and price range. How do they compare with yours?
You may be able to spot some easy wins. They might include maximizing the curb appeal with a little yard work or inexpensive planting. A cracked, broken driveway may send buyers running, but is a fairly cheap fix.
You might choose to give your interiors a little love with a lick of fresh paint. Durham is developing from a blue-collar to a white-collar town, and buyers’ expectations will rise with that. Giving the kitchen – probably the most important room in the house – a quick makeover is usually a good call.
Here’s one universal tip for free: everyone wants to live in a clean house. Make sure that your home is spotlessly clean and tidy before every viewing.
3. Depersonalize Your Home
People need to be able to visualize themselves living in your home. Aunt Ethel’s photo may currently take a place of pride, but they need to picture their photos there, not yours.
Mess is a complete turn-off for potential buyers. Most people will just get anxious and be grossed out by piles of clutter and will want to get out as soon as possible. Give them a blank canvas that they can superimpose their ideas onto easily.
If you’ve got lots of furniture in your home, now’s the time to consider hiring a storage unit. Buyers are looking for a home they can easily circulate in. Bulky furniture can make even the biggest house look tight and cramped.
Highly personal color choices are also offputting for potential buyers. Dark colors are polarizing and are best avoided.
Stick to a neutral palette of pale grays, light blues, soft greens, or creams. These inoffensive colors will have the broadest appeal and create a light and airy feel to the house.
4. Price It Right
North Carolina property has long had a reputation for being affordable. But with average sale prices in Durham now a pricey $325,000, it isn’t always a cheap place to buy anymore.
But a word of caution. You still need to price your home very carefully to benefit from the North Carolina property boom. Overpriced houses sit on the market for a long time, and you’ll struggle to get people through the door.
When you work with a realtor, they will use their extensive knowledge of the local real estate scene to advise you on the right price. If you’re going it alone:
- Check comparable listings and sale prices
- Perform a square foot comparison
- Only compare like for like
It can be a little overwhelming, especially when you don’t know how much inventory is available. In some parts of the country, low inventory has sparked bidding wars. Homes have sold for much more than expected.
One tool that can help is the Federal Housing Finance Agency’s HPI Calculator.
5. Cover Your Legal Bases
North Carolina has strict laws to ensure that buyers get exactly what they have paid for. Sellers must complete a disclosure form. This sets out:
- Problems with key systems, such as plumbing and electrical
- Legal issues, HOAs, etc.
- Environmental considerations, e.g., asbestos and radon
For homes built before 1978, there are Title X disclosures about lead paint and other hazardous substances to make. If you do not complete this accurately, you will be legally responsible in the future. It’s important to seek legal advice to make sure you fulfill all your responsibilities as a seller.
Now’s the Time to Sell North Carolina Property!
With rising prices and strong demand for North Carolina property, now could be a great time to sell your home.
Before you do, make sure that you decide on the right selling strategy for you. Know what the people want and prepare your home to appeal to the widest possible audience. With the right price and great legal advice, you should have a sale in no time!
If you’ve enjoyed these property tips, then head over to our Household & Real Estate section today!