Sunday, July 6, 2008

Buy and Sell: Real Estate

The dilemma every homeowner must face when selling their house besides sprucing it up is the process of detaching their emotional bond towards their homes. This is specially true for most Filipinos whose attachment to their dwellings appreciates by the minute.

But when the time to sell the property comes, how do we prepare the house to make it irresistible to prospective buyers? And how do we prepare ourselves when the time to hand the keys over to the new owner comes?

In so far as improving the appeal of your home is concerned, you might need the services of an interior decorator. However, on the matter of letting go of your emotions, nobody does it better than yourself.

Here are several tips on how to close a good sale and bade your house goodbye.

1) Disconnect whatever emotional attachment you may have with your home.

  • Buying real estate is an emotional decision, but in selling one you must remove emotions from the equation

  • Think of it as just a house and not a home - a product to be sold much like a box of cereal on the grocery store shelf.

  • Let go of your emotion. Accept the fact that soon the house will no longer be yours

  • Say goodbye to every room.

2) Make your home anonymous

  • De-personalize your home by removing your family photo and any personal souvenirs. Prospective buyers must have the impression that your house could be their potential home.

3) Make the most out of that first impression.

  • A well-manicured lawn and a freshly painted front door help real estate seller make prospects welcome.

4) Make minor repairs.

  • Fix faulty wirings and leaky faucets.

  • Replace cracked floor or counter tiles.

  • Fix doors that don't close properly and kitchen drawers that jam.

5) Remove Clutter

  • Rid every corner of the house of junk.

    If you have not used something in over a year, you probably don't need it.

6) Avoid crowded scenes.

  • Prospective buyers will feel like intruders when they enter a home filled with people. Instead of giving your house a good scrutiny, they are likely to hurry through.

7) Make the house sparkle

  • Dust furniture, ceiling fan blades and light fixtures.

  • Wash windows inside and out.

  • Bathroom towels look great fastened with ribbon and bows.

  • Replace worn rugs.

8) Price Your House Right

  • Find out how much your home is worth by keeping track of other sales in the neighborhood. Consulting real estate agents on this matter can be a great help.

  • Specify what personal and real properties goes with the house when you sell it.

Selling a house takes an entirely different approach compared to buying one. A buyer scouts for a property that will satisfy his criteria whereas a seller must go out of his way just to meet said criteria.

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