5 Steps for Buyers and Sellers to Close a Quick Deal
Buyers want to buy good condition homes that are also affordable. On the other hand sellers want to sell their homes at goof profits. But many buyers and sellers fail in achieving their aims. This is because they have no information about closing a quick real estate deal. Both buyers and sellers can easily close property deals if they have the basic information. Here are the easy steps for buyers and sellers to close a deal.
5 Steps to Buy a Home Quickly:
Do your homework first
The first thing to do as a buyer is to review the requirements and finances. Budget is very important for buying a home as it impacts the size and location. Secondly decide about the property type like 2 or 3 bedrooms. Another consideration is the choice to buy a flat or a home. Complete your homework as it will help you in buying a home in short time period.
Hire an estate agent
The next step as a buyer is to hire a real estate agent. Although you can find a suitable home yourself but it’s always better to hire the services of the professionals. Real estate agents are expert in their field and can buy you a home according to your requirements. Therefore visit the top realtors in the area where you want to buy home and tell them your budget and requirements.
Personally visit the property
Estate agent will share the information of homes with you. But this is not enough as you need to personally visit all homes. The personal visit has many advantages. Firstly you can see the location of the property and nearby facilities. Secondly it will help you to find the condition of the property. Thirdly a personal visit helps in negotiating the right price.
Think about hidden charges
House purchasing price is not what you pay to the home owner but it also includes the hidden charges. People who buy old homes have to spend money on the repairs. The renovation cost increases the overall cost of home purchase. Therefore before deciding to buy a home you should also consider the renovation costs. This will help you in buying the home within your budget.
Negotiate the price
Every buyer wants to buy a home at affordable price. Most people get good deals as they buy homes at investor’s rate. The most important thing in home buying process is the price negotiation. Ideally your offer should be very realistic otherwise seller will reject it. There is always 5-15% price negotiation margin. After closing the deal you can proceed to transfer the title.
5 Steps to Sell a Home Quickly:
Stage property for sale
The first thing the seller has to do is to prepare the property for sale. Firstly you need to review the condition of the property and make your budget for repairs. Secondly improve the structure of the property as no one wants to buy a home with structural issues. Thirdly replaces the broken tiles and fixtures. Fourthly paint the home interiors and exteriors. Fifthly increase the curb appeal of home by maintaining the garden.
Hire a reputed agent
The second step to sell a home quickly is to hire the services of the good real estate agents. Hiring the realtors has many advantages as they can find the suitable buyers, save the time and sell homes at good profits. Just visit the offices of reputable realtors in your locality and tell them about home details. Also tell them the price on which you want to sell your home.
Put the right price
Many homes stay longer in the market because owners want to sell at unrealistic prices. Every society or area has specific price range. Buyers have always surveyed the market before buying a home. So the extra high demand will result in delaying the sale of your home. Therefore always put the right price. But asking 5-15% higher price is normal and good for better negotiations.
Show property to the buyers
The next step is to show your home to the buyers. Ideally you should show your home to the buyers. But if you are busy then give keys to the estate agents as they will take show the home to the buyers. Most people make the deadly mistake as they fail to adjust the time for the visit of the buyers. This always delays the home selling process as buyers don’t wait but move to the next properties.
Accept the offer
Once buyers have seen your home they will make the offers. As a buyer you should sell home to the higher bidder but also keep in mind that buyers never wait too long as they will move to the other properties. Therefore don’t be too hard on price. After deciding the price, discuss the method of payment and time duration. Finally get the advance payment and start the documentation process for the title transfer.