Putting your house on the market and seeing that it has not sold or been rented can result in a very harrowing experience. Below, MEXLend shares a number of suggestions presented by experts to ensure an effective transaction.
5 tips to sell your house
1. Hire an experienced top sales agent.
“It takes a good agent, and a good agent is one who knows your neighborhood,” says Julie Greenwood, co-owner of Greenwood King Properties, a real estate agency in Houston.
2. Set the right price.
What will get a house sold quickly is the price. That’s the name of the game. If the price is right, it will sell. If the price is far above market, then it’s not going to sell.
3. Come up with an adjustable sales plan.
Try a sales strategy, but make sure it’s flexible. What is your initial asking price? How long can you withstand before a reduction in price? What happens when you get there? Having a clear plan that answers these questions will help you react quickly when you receive an offer, according to Greenwood.
4. Clean up the mess.
According to Stephen Roulac, author of “360 home errors and how to avoid them” having a clean, uncluttered and orderly house when having an open house will make it more attractive to buyers.
5. Rent.
If time runs out and you have not found a suitable buyer, consider renting it. Just make sure to agree with the tenants that the property be available for showings. For example, if a house like yours normally rents for $10,000 pesos per month, offer renters an attractive discount for allowing you to show the property when necessary.
5 tips for renting your house
1. Create a contract.
A simple, legal lease can mean having protection for you and your property. You must include details of the lease terms, deposit, expiration dates, maintenance responsibilities, rules of conduct and conditions of eviction. This can save you thousands of dollars in legal fees in case something goes wrong.
2. Select your tenants.
As you do not want just anybody renting your home, it is important to take the time to research biographical information such as their full name, employer, salary, previous leases and references.
3. Determine the market value of your property.
Learn or investigate how many other homes are renting in the area. Prospective tenants will be looking around to get the best deal, so it is important to establish a competitive price and highlight what makes your home the best option for them.
4. Protect your belongings.
When you rent a property, you will most likely be exposing some of your possessions. Set a value for them with your tenants so they are conscious of how much it would cost to repair or replace in case of damage. Make sure you have the proper insurance coverage.
5. Consider what it means to be owner.
It is important to consider if you can comfortably handle the responsibility of rent. Becoming a landlord means you have to respond promptly to the lessee’s questions or concerns that may arise. While you may be willing to wait months to fix something broken in your home, a tenant will not.
What other tips to sell or lease you applied? Leave your comments further down.
