5 Questions You Need to Answer Before Selling Your Home

Before you think about selling your home, certain questions need to be answered. Here are five things you’ll want to know before you decide to put your home up for sale.

October 2, 2020
By Mototext Homes
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There are two types of home sellers: those who want to sell their homes and those who need to. Of these two groups, those who want to sell have the most flexibility in terms of how and when to sell their home. They can plan and watch the market for weeks, maybe even months.

However, if you are among the group who needs to sell due to pre-foreclosure, expensive repairs, recently inherited a property or because of other reasons you'll want to answer these questions before you upload to Mototext Homes.

1.) Why are you selling?

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Selling the home you have lived in isn’t always easy, and as a result, it can get emotional. So before you make the leap, ask yourself why you are selling.

Are there too many expensive repairs that need to be made to keep it livable? Has the mortgage become too much? Are you recently divorced? Is the home under pre-foreclosure? There are so many scenarios that can motivate you to not only sell, but sell in a short amount of time.

Take a moment to fully understand your motives for selling so you can be sure it’s the right thing to do at this time.

2.) How much does it cost to sell your home?

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Maybe a little counterintuitive when you think about it, but yes, a traditional home sale comes with major costs. Like many homeowners, your house will be your single largest investment. Naturally you want to get as much money as possible for it.

In the industry, it is common for real estate agents to receive six percent of the selling price—for example, as much as $12,000 on the sale of a $200,000 house. But that's just one of many expenses you will encounter. From preparation to unexpected complications, selling your house can become pricey. Some of these costs include:

  • Commissions
  • Repair costs
  • Staging your home
  • Attorney fees
  • Mortgage payoff
  • Closing costs

There are typically more costs to selling a home beyond real estate agent commissions. Between 10-15% of the sale price is a good place to start.

3.) Should you list your home on the market?

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There is a lot to consider when selling your home. One of the most important is whether or not to go through a traditional sale. Typically, when listing your home you will want to have enough equity to pay off your mortgage, any selling fees (closing, commissions, etc.), and the costs of moving.

On top of these costs, you will need to get your home ready for listing. That means making necessary repairs, getting the home show ready, and even marketing. However, depending on your situation, listing your home may not be an option.

In contrast to a traditional listing, Mototext Homes can offer you cash for your home as-is. You won't need to make any repairs, pay-off any taxes or mortgages. We have trusted buyers who purchase properties across the United States.

You will have to determine your motivation to sell and what makes the best sense depending on the situation.

4.) How soon are you looking to sell?

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For some, the answer is "immediately". Selling may not always be by choice, but you still want to get as much as you can from a sale. If you are going through a hardship like pre-foreclosure, divorce, a death in the family, or are too far behind on payments, a quick sell might be necessary.

5.) How can you sell for the highest price possible?

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If you are looking to list your home on the open market there are several simple, low-cost things you can do to boost its value. You can throw out any clutter, wash the walls and windows, install higher wattage bulbs to make the rooms brighter. For larger projects that require renovations to the kitchen and bathrooms, updates will be more expensive, but can increase the final sales price.

When repairs, renovations, and staging your home are not an option, you can still sell your home in its current condition. Simply upload your home to receive a free home evaluation and a fair cash offer.

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