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Home » Credit Help » Sell Your Home

Sell Your Home

If your financial troubles are due to your unaffordable living expenses, you might create a huge relief for yourself by selling your house, pulling out your equity and finding a more affordable place to live. I have heard that your housing costs should never exceed 35% of your income, but all too often am I seeing people purchase homes that are just too expensive for them and end up paying over 60% of there income towards their living expenses.

Even in a “buyers market”, you can still sell your house. It may take a little longer and sell for a bit less, but if you risk facing a major financial burden or falling into foreclosure, there is no better time than now. Here are some tips to get your house to sell for top dollar in a timely manner:
  • The first thing you should do is talk to your real estate agent. Some people try to sell their homes themselves to save on the brokers fees, but that usually backfires. Real estate agents know the market, are involved in huge realtor networks, and also have access to the MLS, where they can list your house and attract prospective buyers. I have heard plenty of stories of people trying to list their houses themselves and ending up having to call a real estate agent six months later because they didn’t get a single offer. The statistics show that homes listed by realtors sell, on average, in half the time for 16% more than those listed by owners.
  • Clean your home and remove the clutter. Try to remove as much of your stuff as possible before showing your home. Go to a few open houses in your area to see what kind of interior decorating is the standard.
  • Don’t underestimate the value of curb appeal. Sprucing up the front yard and entryway will really help attract prospective buyers to get out of their car and walk in. Also, your font yard and entryway create a lasting first impression.
  • List the house at an attractive price. In a declining market, I have seen homeowners list their house for too much. They get some offers, but reject them since they are too low. They continue gradually lowering their asking price until they are actually asking less than some of their initial offers. Too bad they let greed get the best of them.
  • Don’t hold out for too much. Usually one of your first offers will end up being your best offer, so don’t let greed get the best of you. Also, accepting an earlier offer will mean you sell your house faster and get the whole thing off your hands and off your mind.
If housing prices are just too unaffordable in your area, take a look at the rental rates. In areas with expensive real estate, you will usually find rent payments much more affordable than mortgage payments.

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