Tips for sellers
Tips on selling your property
There are things you could do to increase the value of your property:
There are two types of defects on a property, one is Material Latent Defect and the other is Material Patent Defect.
The Homeowners are obligated to disclose and notify the buyers of the Latent Defects; on the other hand the Patent Defects are not required to be disclosed, however repairing the Patent Defect is recommended.
Having your property free of any defects is a very important factor, as you would avoid any later on headaches and possibly lawsuits and also would increase the value of your property and would put your property in a better position on the market.
Aside from repairing the required repairs at your property there are other ways you could increase the value of your property, one is having it look better.
Have you come across a property in your neighborhood that has caught your eyes, whether it is the exterior of the property the landscaping surrounding it, a very nice design of their drive way, a fancy door or a very nice, elegant light fixture, are all assets that would attract more people and possibly potential buyers if the property ever goes on the market.
Having your property inspected before you decide to list it on the market would be a good strategy as if there are any defects that need fixing you could have it fixed before the potential buyers look at your property and notice the defects. If that happens you would have to fix the defects anyway but now your property might have dropped a level in their consideration in comparing your property to others. If a defect needs to be taken care of, why not do it before everyone notices it.
Having your property painted, taking care of the holes and damages on the wall before putting your property on the market is another way of showcasing your property, as if the walls are not in a decent condition the buyers might put a clause requiring the seller to have them taken care of. Off-course you would not have to go with that but you also might lose a potential buyer, and mostly that is a chance seller’s would not like to take.
Staging your property with an elegant design is another way of showcasing your property as that by itself could give a good feeling to the potential buyers. Having the defects on your property fixed is a very great way of having a hassle and headache free transaction but it would not help you sell your property with a faster speed. Having your property designed and staged somehow that is attractive is a great way of attracting more and more people to visit your property and that by it self promotes your property value by far.
Renovating is another great tactic to increase your property’s value. I know what you are thinking right of the bat, you would think of the cost of doing a costly renovation, and possibly thinking to yourself that rather than having that renovation done with all the money that would have to come out of your pocket you would deduct some of the property value and make it even more appealing for people wanting to spend less, WRONG!!!.
Although it is true that doing a renovation could be costly, there are some professionals who are promoting their profession of renovation for lot less that what you would have to send with the big guys on the market. There are also some small tasks that you would even do yourself. Having a visit to Home Depot or other local home hardware store could spark an idea of what you could add to your property to make it very more appealing to the potential buyers.
Having the doors and windows repaired and painted could also attract more people to become potential buyers rather than being just a visitor. There have been instances where the buyers decided they did not even want to go in the property as soon as they had a walk around the property. Depending on the exterior of your property, having it painted could also be a great tactic as well.
Another great way is to increase the curb appeal. Your properties front entry is the focal point of its curb appeal. Adding some designs or some colour that would go with your property could very much enhance the curb appeal of your property. Installing a nice custom door could attract more people interest to your property; choose a design or swag, as it would also represent the interior of your property.
Some tips as how to increase the curb appeal of your property:
• Add outdoor arts
• Make grand entry
• Add shuttles or accent trims
• Do a mailbox makeover
• Install window boxes
• Renew planter beds
• Create new planting beds
• Replace gutter and downspouts
• Renew paint siding and trim
• Tile your doorstep
• Dress up the drive way
• Build a walk away
• Upgrade railing
• Apply stone veneer
• Dress up the front door
• Replace old hardware
• Create perfect symmetry
• Install outdoor lighting
• Outdoors light fixtures
• Create an insight garden
Having a finished basement also is another great way of marketing your property. Some might think that it is such an expensive and costly thing to do, but fact of the matter is, it again depends who you would go to have your job done. Some would basically charge you an arm and a leg to do the same thing as the infamous guys who don’t spend much on advertising, but would do the same quality work as the other ones. Having a finished basement would greatly enhance your chance of getting a better buyer even faster as mostly people are looking to obtain a property that does not require any more work and if they come across your property that doesn’t have a finished basement might look elsewhere.
Same goes for driveways; having an unfinished driveway could push customers away as they might think of an extra work they would have to put in and the fact that they don’t have an estimate as how much it would cost them. Some people might be fine with spending the cash to have it taken care of but might not have the time to go after fixing it.
The point I’m trying to make after all these pointers is that you should have your property look the way that you would want to buy it instantly if you were the buyer and were coming to see it. If there is anything that bothers you and seem to get your attention, it would most probably come up in the mind f the buyer as well.
Babak Sobhani