Home sale prices have shot up by over 30% since the start of the pandemic. That’s enough to lead you to believe that this is the easiest time to sell a home.
You hear stories of bidding wars, cash offers above the asking price, and concessions made by buyers just to get their offer considered.
Yes, this is a seller’s market, but it doesn’t mean that the entire home sale will be stress-free. There are so many variables in a real estate transaction, that they will still feel the stress of selling a house.
Do you want to avoid house selling stress? Keep reading to learn the top seven tips to reduce home seller stress.
1. Your Purpose for Selling
Sellers have a variety of reasons for selling. Some want to downsize their home, while others want to relocate. People go through divorce, foreclosure, or just inherited a property.
Write down all of your reasons for selling your home. Take the time to set an intention for your life after the sale. You might get relieved of the stress of mortgage payments or have more financial flexibility.
The purpose of the sale is your guide throughout the home selling process. It will help you make decisions and get you through the challenges of a home sale.
2. Know the Real Market Value
Home sellers are optimistic about what they can get for their homes. That optimism isn’t often grounded in reality.
The price of the home often leads to home seller stress. That’s because they price the house too high and expect buyers to flood them with offers.
What happens is that the home sits on the market. The longer it sits, the more questions get asked. You eventually lower your price to the point where it’s below market value.
Research the real market value of your home. Don’t compare your home to the waterfront mansions a mile away. Compare similar properties in the same neighborhood.
3. Sell for Cash
The cleanest, easiest transactions are cash transactions. The reason why is because you don’t need to get a lender’s approval before the close.
Lenders usually want to verify that the sales price is in line with the value of the home. They also want to verify that the home is in good condition to approve the loan.
A cash transaction can close in days. If you want to avoid the stress of selling a house, accepting a cash offer is the way to go. Browse this page to find out more about cash real estate sales.
4. Focus On Staging
Where do buyers look for homes? The vast majority of them start online. They’ll look at the Multiple Listing Service (MLS) or other real estate sites.
The first impression they get from your home is from photographs. That determines if they want to see the home or not.
You have to present the home in a way that’s appealing to buyers. Staging is a big part of that. Take professional photos and remove the clutter from the home.
Learn what’s important to them right now, and emphasize those characteristics in the images and description. Many buyers want an open floor plan, neutral colors, and a modern feel.
5. Use an Agent
Should you use a real estate agent? You might be on the fence because it’s an active market and you don’t want to pay commissions.
However, an agent can remove a lot of the stress for you. They handle contract negotiations and work with a team of professionals to see the sale through.
They also understand the market and will make sure your home is priced to sell. At the same time, they’ll get the most value for it, too.
The big reason to use a real estate agent is that you don’t know real estate law. You leave yourself liable to get sued if something goes wrong with the sale. You create more stress in an attempt to save money.
6. Be Flexible
Flexibility is the key to having a stress-free home sale. A home sale is full of uncertainty, which is why they’re so stressful.
Go into the home sale knowing this and prepare for the best and worst outcomes. This reduces anxiety and you always have a backup plan for every step.
At the same time, you have to set strong boundaries to keep your sanity. Know what you’re willing to do and not do for buyers before you list the house.
Let your agent know that you’ll only do showings during certain time windows. Discuss how flexible you’ll be with offers. You might be willing to accept a cash offer for a little below the asking price, or you’d consider a lease-to-own scenario.
7. Do Your Homework Before You Accept an Offer
There’s a good chance that you’ll get several offers on the home. Be sure to weigh each one to make sure that the offer you accept will close.
For instance, a buyer comes in with a cash offer. This is great, but it’s not an automatic sale. Find out if the buyer truly has the means to pay with cash.
For buyers who rely on financing, the work is more involved. First of all, check the letter from the mortgage company. Is it a pre-qualified letter or a pre-approved letter?
There is a big difference between the two. A pre-approval letter means that the lender knows that the buyer can get approved for a loan and for how much. A pre-qualification letter is an estimate of what a buyer can get.
Avoid House Selling Stress With These Tips
Are you ready to sell your home? Don’t get sucked into the stress of selling a home. You can avoid house selling stress in just a few steps.
Visit the Lifestyle section of this site for more ways to live a stress-free life.