7 Easy Steps to Selling a Home Yourself

Step 1. “Make-up” your home to sell - make it look great
Present your home like you prepare yourself for a grand dinner. Home buyers are attracted to clean, spacious and attractive houses. Your goal is to dazzle buyers. Brighten-up the house and remove all clutter from counter tops, tables and rooms. Also, make sure your house smells good.

Step 2. Pricing your home effectively
Price your house according to market value. Do not over price your home. Over-pricing reduces buyer interest, makes competing homes look like better buys, and can lead to mortgage rejections once the appraisal is in.
One of the best ways to correctly price your house when selling is to find out how much other homes, similar to your own, recently sold for in your neighborhood. Talk to home sellers, buyers and check out the real estate listings in your local newspaper.
You may try calculating the cost per square foot of your home compared to the  selling prices of houses in your area (divide list price by square footage of built up house area).
Finally, set your house selling price just under a whole number, such as RM299,900 rather than RM300,000. It’s a marketing gimmick.

Step 3. Marketing your home to reach the buyer
Exposure is the key word to market your home.
Penangproperty.com.myprovides extensive property exposure because there is no limit to the number of visitors viewing your listing.  Writing a property ad is so easy with the help of Penangproperty.com.my. Besides the property ad write-up, you need to publish photos or pictures of your home. Yes, a picture is worth a thousand words. Take a few good shot of your home without any thing obstructing the view, make your home look spacious and bright and it will increase your chances of attracting buyers.

Step 4. Negotiating an offer on your home
So, finally you got someone offering to buy your home. Don’t be over excited, talk to your lawyer on terms and condition offered by the buyers. The purchase price isn't everything. Carefully consider the purchase contract's terms and conditions as well as the fine lines in the appendixes. Pre-qualify your potential buyers by asking him/her a few simple questions: What is his/her profession? How much of a loan is the buyer seeking?

Step 5. Get a lawyer to help you
You definitely need a lawyer to guide you through the entire process of selling from the drafting of an agreement to the end process of receiving the full payment. Even though it's an additional expense, it may be wise to hire a lawyer who will protect your interests throughout the entire transaction. An experienced real estate lawyer can help you evaluate complicated offers (those with a variety of conditions). The lawyer can also tell you what things, by law, that must be disclosed to buyers prior to a sale and they can also help you avoid inadvertently discriminating against any potential buyer.

Step 6 : Home inspections
There is no necessity on your part to agree with every comment that the potential buyers make. They have the ultimate motive to negotiate the price. Just prepare the house as clean, tidy and bright as possible for a better first impression. You may arrange a few potential buyers to view your property simultaneously to “heat up” the offer, but do be careful of this strategy as the potential buyers may team up to push the property price down.

Step 7. Closing
This is an important stage. Try to convince your buyer to make a positive decision on the spot. Share with them your legitimate reasons for selling the property and assure them that you have clearly thought it out as the last option because you are really fond of it but have to let it go due to a genuine and convincing reason (which is not implying that you may need the money, even if that is the case). Remember to collect an investment option or a commitment fee once everything is agreed in principle with the buyer. Then you may give the buyer a dateline to prepare the sale and purchase agreement. Normally it will be a 3+1 agreement, which means that the buyer has to settle the full purchase price within 3 months free of interest, with an allowed extension of 1 month plus interest if necessary.

Conclusion
This step-by-step home selling guide serves as a general guide or an overview of the process when selling a home. Selling a home yourself can be time consuming, but the financial rewards can be tremendous. You can save practically thousands in classified advertisement costs or other related fees if you sell the property yourself with the help from penangproperty.com.my.  We try to make the process of home selling on your own as easy as possible.