There are several reasons why people decide to sell their homes in Los Angeles. From the need for more space to the decision to change their environment, regardless of why you may choose to sell your house, there are some things you must note.
First off, you must note that selling a house in LA is not kid’s stuff. Forget the movies or the adverts. Selling a house in real life can be a hassle. Second, to ensure that you are making the right move by selling your home, there are four crucial questions you need to ask yourself.
Below, we have highlighted some of these questions.
Question 1: How much is my home worth?
No doubt, this is one of the most important questions you should ask yourself. Before selling your home to we buy houses Los Angeles company, it makes sense to carry out an appraisal. Doing this will enable you to have a little insight into the price range home buyers may pay for your Los Angeles home.
One of the standard methods real estate experts use to appraise homes is comparing the sale price of recently sold homes in your environment that share the same similarities as yours. You can adopt a similar tactic so that you know what to expect from a house buyer.
Question 2: What will it cost to sell my home?
Before you decide to cash in on your home in LA, you need to determine the cost of selling your home. Of course, as a newbie, this may sound weird. However, you must note that to sell your home at a reasonable price, you may have to dip your hands in your pocket and spend some cash.
Things you’ll have to spend on when selling your home are:
- Seller concession
- Closing cost
- Repair costs
- House overlap cost (in some cases)
- Real estate commission cost
Having a good understanding of these costs should help you get a better deal for your home. You can leverage a home sale calculator to estimate the total costs of selling your home.
Question 3: How long will it take to sell my home?
Homes don’t get bought a few hours or even days after being listed or put on sale. Maybe it happens, but not frequently. According to recent data, the median home takes about 65 days to sell once it’s listed.
That said before you decide to sell your home, ensure you consider your moving timeline. How soon will you relocate to your new home? If there is a delay in the sale of your home, will it affect you in any way? If yes, ensure you modify your moving timeline.
One of the best ways to know how long it will take to sell your home is Days on Market (DOM). DOM is a real estate stat that monitors the time taken to sell a home after listing.
Question 4: Are repairs necessary?
Sellers are often required to reveal any known issue with their home to potential buyers. So if perhaps, your home has a faulty roof or plumbing system, you must let the buyer know. But, your job is to bring these faults to the buyer’s notice. You aren’t required to make repairs.
However, fixing the damages will no doubt increase the value of your home. Some home buyers buy your home regardless of the condition, while others would pass if your home is ravaged with several faults. So before you decide to make any repairs or renovations, make sure you are targeting the right places like your kitchen, bathroom, etc.
On paper, selling a house in Los Angeles may be an easy process. However, in reality, it is the contrary. There are often many things to be considered, hurdles to face (depending on how lucky you are), and some essential questions you need to ask yourself.