Selling your home can be both exciting and overwhelming, especially if you’re unsure about the process. Whether you’re a first-time seller or have sold homes before, it’s natural to have questions about pricing, market conditions, and what to expect. To help you navigate the selling journey, we’ve compiled the top 10 most frequently asked questions from home sellers—along with expert answers to ensure you make informed decisions and maximize your home’s value. But first, here's Nate with some Quick Tips for getting ready to Sell Your Home:
1. How do I determine the right listing price for my home?
Answer: The best way to price your home is by conducting a comparative market analysis (CMA), which looks at recent sales of similar homes in your area. The Jenkins Group can provide expert insight into market trends, buyer demand, and how to competitively position your home to attract offers.
2. What should I do to prepare my home for sale?
Answer: Focus on curb appeal, decluttering, deep cleaning, and making minor repairs. Staging your home, updating outdated fixtures, and ensuring it is well-lit can also enhance its appeal. A fresh coat of neutral paint can go a long way in making your home feel move-in ready.
See our Blog: Should You Update Your Home Before Selling? Here’s What Actually Adds Value
3. How long does it take to sell a home?
Answer: The time it takes to sell a home varies based on market conditions, location, and pricing strategy. In a seller’s market, homes may sell within days or weeks, while in a buyer’s market, it may take longer. Proper pricing and marketing can help speed up the process.
4. Should I make repairs before selling my home?
Answer: It depends. Small cosmetic fixes and maintenance repairs can increase your home’s value and attract more buyers. However, major renovations may not provide a high return on investment. A pre-listing inspection can help identify necessary repairs that could impact your home’s marketability.
5. What are the costs associated with selling a home?
Answer: Sellers should budget for real estate agent commissions (typically 5-6%), closing costs (1-3% of the sale price), potential repair costs, staging expenses, and any remaining mortgage balance. Some sellers may also offer concessions to buyers, such as covering a portion of their closing costs.
6. Should I sell my home before buying a new one?
Answer: Selling first can prevent financial strain, ensuring you have funds for your next home. However, if you find a new home before selling, you may need a contingency offer or bridge financing. Working with a real estate professional can help you navigate the best approach.
7. What happens if I receive multiple offers?
Answer: Your real estate agent can help you evaluate each offer based on price, contingencies, financing terms, and closing timeline. You may choose to accept the best offer, negotiate for better terms, or request highest and best offers from all interested buyers.
8. Do I have to pay capital gains tax when I sell my home?
Answer: If the home was your primary residence for at least two of the last five years, you may qualify for an exclusion of up to $250,000 (or $500,000 for married couples) in capital gains. Consult with a tax professional to understand your specific situation.
Need a Tax Professional? See our list of Recommended Vendors to find a professional that we know you can count on!
Want more information on this exclusion? We have a Blog for you!: Maximizing Your Home Sale Profits: Understanding the Personal Home Sale Exclusion.. Or watch Nate as he sits down with one of our Trusted Tax Professionals to chat about this.
9. What is the best time of year to sell a home?
Answer: Spring and summer are generally the busiest seasons for real estate, as buyers prefer to move in warmer months. However, homes can sell year-round, and in some cases, selling in fall or winter can mean less competition.
10. How do I handle showings and open houses?
Answer: Keep your home clean and decluttered at all times. Consider temporarily relocating pets and personal items to make showings more appealing. Your agent will schedule showings at convenient times and may recommend hosting an open house to attract more buyers.
Selling your home doesn’t have to be a stressful experience when you’re equipped with the right knowledge. By understanding pricing strategies, preparing your home for sale, and knowing what to expect throughout the process, you can confidently list your property and attract the right buyers. If you still have questions, working with experienced real estate professionals, like The Jenkins Group, can make all the difference in achieving a smooth and successful sale.
Check out our In-Depth Seller's Guide for more information about the Selling process.
Ready to sell your home? Contact The Jenkins Group today for a free home valuation and expert guidance throughout the selling process. Let’s get your home sold quickly and for the best possible price!
