If you want to sell an item quickly—say, a couch—you can post it online, stick a super-low price tag on it and, chances are, it will be gone by the end of the day.
So it’s understandable that some people think the same thing applies when selling a home. Indeed, if you need to sell your property quickly, you might assume that setting a low listing price is the best way to make that happen.
But that isn’t necessarily true.
The fact is, the list price is only one of many factors that determine how quickly your home will sell—and for how much.
For example, if your home is in high demand at the moment—given its characteristics, neighbourhood, move-in readiness, and overall desirability—then it may sell quickly at its current market value or even a little higher.
On the other hand, if the market is more of a buyer’s market, setting a list price that will attract qualified buyers to your home, and away from comparable listings, may be important. But that doesn’t necessarily mean you need to low-ball the price.
Keep in mind there are many other things that can help get your property sold quickly, such as how skillfully your listing is promoted and marketed, how well your home shows to buyers, and how flexible you are with your closing date.
When preparing your home for sale, you need to fix things up, declutter, perhaps slap a fresh coat of paint on a few walls. That’s all part of getting your property ready for buyers.
But there’s another type of preparation that you also need to do. And, the sooner you do it, the less stressful your move will be.
You need to get all your paperwork together.
Here’s what to gather:
- Property documents such as deeds, easements, surveys, liens, etc.
- Mortgage documents, plus any other loans (i.e., line of credit) that use the property as collateral.
- Maintenance and service agreements that may continue with the new owners.
- Warranties and guarantees that are transferrable to the new owners.
- Recent utility bills, such as water, electricity, etc.
- Rentals (i.e., water heater rental.)
- Home security agreements and codes.
- Contracts for any work done on an ongoing basis. For example,
Getting these records together early will ensure you’re not scrambling at the last minute to find them. Some of these documents, such as warranties, also make for attractive selling features.