Your Family Budget And Whether to Sell Your Home Now or Not

The real estate market is not good right now and probably will not get better until interest rates come down. If you are thinking of selling your home, get a realtor to do a BPO on the home which stands for Broker’s Price Opinion. Then look at Zillow and Redfin and see what value they show for your home. The prices Zillow and Redfin have are not very accurate, they are usually lower than the value of the home because they usually don’t make any changes in the home value for adding laminate flooring, patios and carports, and other interior and exterior upgrades. They do not know when you put a new roof on your house and do not change the value if you do. Redfin has a form where you can make changes for home improvements. For example, I added $9500 for laminate flooring and $8000 for a new carport on the form.

The next question that needs to be answered is what repairs are necessary to be made prior to listing your home and who is going to do them. Some realtors work with contractors who do home repair work. The realtor will tell you, ” Don’t worry about it, we will have the repairs made and will subtract it from the proceeds to the seller.” Make sure you agree that the cost of the repairs they are making is done right and priced competitively. Go around with the inspector on a home inspection. Make sure they are only listing major repairs they feel are needed that you agree with.

Select a good real estate agent who is familiar with your area. The commission percentage to sell a home, in most areas, is 6% of the sales price. Ask the agent to have several open houses where they are the only ones there so lookers can have full access to the house.

If you want to sell the home yourself, it is a good idea to talk to a real estate agent and ask what percentage they will charge to do the paperwork if you get the buyer? My real estate agent charges 2 1/2%.

Make your home presentable. Good luck in selling your home!

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