How to prepare your home for sale: 4 steps to follow

Thinking about selling your home? Making the extra effort to get it market-ready will improve your chances of success. Preparing your home for sale could mean anything from making necessary repairs to performing a deep clean, and while it can be a lot of work, your efforts will be well worth it if they result in more offers and a faster sale. Follow these steps when preparing your home for sale to attract the most interest — and, hopefully, the best offers.

Address any needed repairs

If you’ve lived in your home for several years, normal wear and tear is to be expected. Minor problems, like a chipped floor tile or a dripping kitchen faucet, may not have much impact on your day-to-day life — in fact, you may barely even register them. But visible problems like these are very noticeable to buyers. House-hunters might even see them as a signal that more significant issues may exist beneath the surface.

Figuring out which home repairs are necessary, and addressing them properly, is one of the best things you can do to prepare your house for sale. Walk through your home and make a list of all noticeable imperfections, no matter how minor they may seem. Then consult with your real estate agent, who can help you prioritize the list and determine which issues will be important to prospective buyers, and which will not.

You might also consider a pre-listing inspection, which can identify manageable problems (like a small roof leak) before they become massive ones (like needing to replace the entire roof). Buyers commonly include an inspection contingency in their offers, which can lead to the need for concessions or worse if the findings are unfavorable. So getting an inspection prior to listing will help you get a jump on any future problems that could derail your deal. The average cost of a home inspection is only a few hundred dollars — money well spent if it saves you thousands down the road.

Declutter and clean the space

Real estate agents often recommend making your home as clean, open and neutral as possible. The goal is to help the buyer envision the home as their own — not to distract them with personal items that reflect someone else’s life.

Start by decluttering and organizing every room in your house. Pack away excess furniture and things you don’t need for everyday living — rent a storage unit if you have to. Overstuffed closets will just make buyers think the home doesn’t have sufficient storage space. Not only will this make your home appear cleaner, it’ll also give you a head start on packing after you sell your house.

Alyssa Morgan, a Miami Beach real estate agent and founder of the Inside Network, says that “a deep cleaning, especially the air vents and A/C filters,” is a task many sellers undervalue and overlook. Hiring a professional to deep clean your house may be your best option to do the job quickly and effectively. According to Fixr, the average cost to deep clean a house is $300.

Up the appeal, inside and out

When it comes to impressing house-hunters, first impressions matter. You want to make your home as appealing as possible, to as many people as possible. This is why many sellers hire professional stagers to get the space looking picture-perfect.

“Staging has the most significant impact when preparing a home to come to the market,” says Morgan. “It helps prospective buyers be able to imagine the home as their own.”

Your real estate agent can help you strategize how to stage your home. “Before our clients list their home, we put together a list of minor and major updates that we suggest to get top dollar,” says Morgan. “Fresh paint and staging are always at the top of the list.”

And don’t forget about your home’s exterior, which is also key to making a good first impression. Improve your home’s curb appeal by mowing the lawn, trimming all bushes and trees and pressure-washing dirty sidewalks and driveways. Washing the windows and adding a few colorful flowerpots or hanging baskets never hurts either.

Gather all the necessary documents

One of the most essential steps to prep a house for sale is keeping track of important paperwork. There’s a lot of it — some of the documents you’ll need to sell your home include the following:

• Records of repairs and maintenance: Do not underestimate the importance of keeping and disclosing proper home maintenance and repair accounts. You want to be able to prove that crucial repairs were made, and when.
• Property tax records: You might need to provide receipts to show what taxes on your property are still outstanding. Before closing on the property, buyers must be able to understand and estimate the cost of property taxes on their new home.
• State disclosure forms: Most states have standard disclosure forms that home sellers must fill out, detailing any knowledge they have about problems with the property or structure. Some are very detailed and lengthy — consult with your agent to make sure yours is filled out and filed properly.
• HOA documents: If your home is part of a homeowners association, gather all the documentation regarding its rules and financial standing. HOA disclosures can be complicated, so you may want to consult your agent or even a real estate attorney to be sure of what to include.
• Proof of homeowners insurance: Carrying homeowners insurance is likely a requirement of your mortgage loan, and that coverage is expected to continue until your home closes and the final sale is complete.
• Mortgage payoff statement: Finally, as its name suggests, this document states the exact amount needed to pay off your mortgage loan in full, including interest and fees. Title companies often request the payoff statement from your lender before completing the sale.

Preparing your home for sale: Final steps with your Realtor

Ultimately, even the most beautiful home on the market can get overlooked if the listing doesn’t attract eyeballs. More than 40 percent of buyers look at listings online as their first step, according to the National Association of Realtors, and good photos make all the difference. Fortunately, most real estate agents understand this and work with professional photographers who can capture top-quality images of your property. You may even want to look into drone photography or video walk-throughs to help your listing stand out more.

When the listing is complete, your agent will add it to the local multiple listing service (MLS) and market it widely, to both potential buyers and other agents. He or she will take charge of scheduling showings, negotiating with interested parties and generally helping you get the best offer possible for your home.

Of course, you’re not required to work with an agent if you prefer not to. You can choose to sell your home on your own — called a “for sale by owner” listing. But going it alone is a lot of work, and the benefits of using a real estate agent are significant. They are experts in their local markets, and letting them put their expertise for you can be well worth the cost.

FAQs

• When is the best time to sell a house?

  Conventional wisdom says that spring and early summer are the best times to list your house for sale, and the data backs that up. The most recent report from real estate data firm ATTOM found that the month of May, specifically, is the best time to sell your home. Sellers earned a premium of more than 13 percent above market value for their homes in May.

• How much does it cost to sell a house?

  The exact cost of selling a house depends on a number of factors. For starters, the various costs of preparing your home for sale can add up, and there are also closing costs to consider, which can vary widely by state and sale price. If any concessions are offered to the buyer, those will also cost you. And don’t forget the cost of your Realtor’s commission, typically somewhere between 2.5 and 3 percent of the home’s sale price. This can be a big chunk of your proceeds, particularly on a higher-priced home — for example, a 3 percent commission on a $500,000 sale comes to $15,000.

• What renovations add the most value to my home?

  According to the National Association of Realtors’ Remodeling Impact Report, the only three home improvements that recoup 100 percent of their cost (or more) at resale are refinishing hardwood floors, installing new wood floors and upgrading insulation. But plenty of smaller, less expensive upgrades can add value to your home without requiring a huge outlay of cash, including something as simple as a fresh coat of paint.