5 tips for saving money when selling your home

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Your home is undoubtedly the most valuable asset to most of us, and selling it will cost thousands. Using the money-saving tips in this article will reduce your moving expenses.

Real estate agent commissions vary, so shop around and don’t forget to haggle when settling with one agent for another. You should aim for a 1% commission and also insist on a binding period of no more than 6 weeks, this will give you enough time to sell the house, but if they can’t do it, you can move to another agent without resorting to “multi-agency” which will increase the commission to about 3%+, which is a big no-no! Make sure you get a fair appraisal, never tell a real estate agent what other agencies have appraised your home for. They will use that to manipulate their offer, which often leads to big misrepresentations.

Looking for the cheapest solicitors is a false economy, so get references from all the real estate agents you talk to, and remember to ask for names of specific people, not just law firms. Call them and ask what their fees are, and pay attention to how friendly, responsive and, most importantly, efficient they are. Fees are negotiable, so bargain! Negotiate with each of them to get the best service at the best price.

By selling your home privately, you can save thousands. One in twenty sellers now choose the do-it-yourself route, which can save you thousands. It’s a great money-saving tip, but there are a couple of downsides, mostly “time and effort.” You may want to consider newspaper advertising, flyers and signage options. Newspapers usually pay per line or per word, so try to keep your ad as short and uninteresting as possible. The easiest way to sell your home yourself is to use one of the many online home selling services.

Obviously, the best time to sell a home is when the market is strong and demand is high, so keep an eye on your local real estate market. Typically, the market is more active in early and late summer than the rest of the year, so try to sell your home then. Also, avoid negotiating with your neighbors, so if you already have several “For Sale” signs on your street, it may be best to wait a little longer.

Studies have shown that a poorly presented home sells longer and can lower the price by thousands. So get out your paintbrushes, spruce up the house and complete any work that’s not finished yet. Also talk to your real estate agent about increasing the value of your property, it may be worth spending some money to get more. However, be careful not to go overboard, you may not get your money back, so discuss any planned improvements with your real estate agent.