If you are a seller in our market, I will be answering a few common questions about our market and the home selling process that you may be wondering yourself.
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1. With the market like it is, should I sell now or wait until next year?
Homes in our Columbia market have been appreciating at a rate of 6% per year. Let’s say you are thinking of selling a house worth $200,000 and buying a house that costs $300,000. Which would you rather have appreciate at 6% per year—a $200,000 investment or a $300,000 investment? If you wait until next year to sell, you’ll be able to sell your $200,000 house for $212,000, but you’ll also pay $318,000 for that same house that originally cost $300,000.
2. Should I get a home inspection if I am selling?
If you are selling a newer home, my answer is usually no, but that can depend on your situation. If your home was built in the last couple years, than you probably do not need an inspection. If it is 15, 20, or 25 years old and you have not done any maintenance on it in a long time, then you probably should get an inspection. If you are selling an older home, my answer is definitely yes.
The bottom line is you do not want any issues to arise that may scare a buyer away once they are under contract, even if it is an issue you can fix. During the first 10 days of the due diligence period, the state contract that we use in the Columbia area allows buyers to walk away from the transaction for any reason.
You do not want any issues to arise that may scare a buyer away once they are under contract.
3. What repairs can I make to my house to make it more sellable?
I usually do not recommend making any wholesale remodels, but you should definitely repair any issues the average buyer can spot from a mile away, like chipped paint or rotting wood on the exterior of the home.
4. Should I hire a professional stager before listing my home?
Usually, my answer in this case is no—buyers typically have enough imagination to look past this kind of thing. You do, however, want to hire an agent who has a good eye for staging. When I look at a client’s house for the first time, for example, I will walk through it with them and give them advice on how to declutter it and make it more presentable.
If you have any more real estate questions for me, please feel free to call me, email me, or message my team’s Facebook page. I look forward to hearing from you!
