Home Selling FAQ

home selling faqLang Premier Properties is committed to being your #1 source for selling homes in Birmingham, Troy and the Metro Detroit region. We've put together a list of home selling FAQ's to help answer the most common questions about selling your home!

Whether this is your first time selling, or you simply want a quick refresher, these quick answers to these FAQ's will have you back to selling in no time.

 

 

What price should I sell my home for?
How long does it take to sell a house?
How much does a REALTOR® cost?

What's the difference between selling luxury homes & regular homes?
What does a listing agent do?
What should I do to prepare for selling?
Should I move out before selling my house?
When do I have to move out after closing?
Should I sell my house before I buy?
Is home staging worth it when selling a house?
Should I have an open house?
What's the best season to sell a house?
Do I need to fix my house before selling it?
What do I need to disclose when selling my house?
What do I need to leave behind when I sell?

Is your home selling question missing? Contact us and we'll be happy to assist you!

What price should I sell my home for?

Forget the saying "location is everything"--your price is! The right price will entice buyers, drive competitive offers, and get your home off the market quickly. The best price for your home will change constantly depending on the market trends in your neighborhood, so you'll need to get in touch with a REALTOR® for this one. (Contact us if you're in the Michigan area!)

How long does it take to sell a house?

The answer to this varies quite a bit, but most residential homes will sell in 65 to 100 days. But there are plenty of exceptions. A hot home can fly off the market right away, while others can remain stagnant for months on end.

More expensive homes, like luxury properties, often take longer to sell than their non-luxury counterparts. This is simply because luxury homes have a reduced pool of buyers due to their elite status. Most people can't afford an above-average home, which can result in above-average selling times.

How much does a REALTOR® cost?

The fees charged by REALTORS® vary, so it's best to find out what a few agents in the area charge. But keep in mind that it's not all profit: REALTORS® use commission rates to fund advertising and marketing strategies that allow them to sell your home. Find out what a prospective agent charges in commission and fees and what they offer in return for that fee.

What's the difference between selling luxury homes and regular-priced homes?

Luxury homes are higher risk but also higher reward. There are fewer qualified buyers for luxury homes, and it can be much harder to find the right match. As a result, luxury real estate tends to require a lot more time and work on behalf of the listing agent. Of course, once the agent does sell your home, your profit can be significantly higher.

What does a listing agent do?

A listing agent works on your behalf to sell your home, from start to finish. There's a lot of steps, but you can consider your listing agent a "one stop resource" for selling your home. He or she will put together the listing presentation, list it on the market, coordinate showings, create advertisements, implement marketing campaigns, and negotiate on your behalf. When an offer is accepted, your listing agent will help you with all the paperwork and finalizing the contracts. There are hundreds of details that go into selling a home, and an exceptional listing agent will help you with every single one of them.

What should I do to prepare for selling?

Clean up, declutter and consider curb appeal. Buyers want to see homes that are neat and tidy, with minimal belongings and in a well maintained condition. Bathrooms and kitchens should be spotless, while other rooms should have some basic furniture and minimal decor. Finally, give the impression that the house has been maintained. Replace lightbulbs, clean the gutter, mow the lawn, tidy up the garden and make those minor repairs you've been procrastinating.

Should I move out before selling my house?

This depends. An unoccupied home tends to be easier to sell, as showings can be scheduled at will, the houses tend to rest in tidier condition and rooms look more spacious. However, it's not always feasible to move out beforehand, especially if budgets are tight. A REALTOR® should have no problem working with you to sell your home, as long as you're willing to keep the home tidy and be flexible with showing times.

When do I have to move out after closing?

This will be outline in the contract, but a move out is typically required within 48 hours of the contract closing and funding being confirmed. Ensure you are fully aware of what your specific contract states. To be safe, most people choose to completely move out prior to the closing date.

Should I sell my house before I buy?

It's up to you! Bridge mortgage financing is often available, allowing individuals to buy a new home before the sale of their existing home wraps up.

Is home staging worth it when selling a home?

Yes, we think so! In fact, we've developed a program where we pay the home staging fees for our sellers. In other words, we stage our listings at no charge to our clients. We've seen extremely positive results from our home staging services!

Should I have an open house?

This has been an age-old debate among real estate agents. Open houses traditionally have fairly low success rates, falling in the single-digit percentile. Yet, Lang Premier Properties believes in doing whatever it takes to sell a home--and that includes taking the time to host the occasional open house. Open houses can help gain exposure, promote your listing and allow buyers to explore your home at their leisure.

What's the best season to sell a house?

Each season has advantages. Spring and summer are the most popular months for buying, which means there's increased buyer interest--but there's also more competition! In the fall and winter months, the competition dwindles but so do the number of buyers. A savvy seller with a great agent will be able to sell their home at any time of year!

Do I need to fix my house before selling it?

No! You don't, but you should. The better shape the house is in, the easier it will be to sell, as buyer's typically don't want to do any extra work after they move in. You may not be required to fix up problems with the house but you are required to disclose all known issues so buyers know exactly what they're getting into.

What info do I need to disclose when selling my house?

When you sell your home, you are legally required to disclose all known issues and potential problems with the house. From leaky roofs and molding walls to insect infestations and structural deterioration, you must let buyers know of anything you are aware of that may indicate a problem with the house. You should also disclose homeowners association fees, building code violations, property use restrictions, and so forth. In Michigan, a full disclosure document must be provided to the buyers before the purchase agreement is binding.

What do I need to leave behind when I sell?

Items that are either part of the home, or mechanically attached to it, are generally considered "fixtures" and are included in the sale of the home. Curtain rods and drapes, landscaping, plants in the ground, built-in appliances or furniture, cabinetry, ponds (but not their fish) and hard-wired lights are all common fixtures. Items like hot tubs and pools depend on the method of installation. If there is something attached to the house that you are particularly attached to, we recommend removing it before listing the home.

Learn more about selling your home with Lang Premier Properties!