Smart Ways to Prepare your Home to Sell:

·        Pre-inspection - If you have an older home, you may want to hire a home inspector to discover any issues with your home that you can address prior to putting the home on the market. Inspections for wood boring insects, certificate of occupancy, septic inspection, radon, mold and well tests are customary in the sale process and any problems will have to be addressed in order for a closing to take place. Most buyers are willing to pay full price for a “Homebuyer Ready” Home. Also Rural Housing loans from USDA offer 100% financing and open many opportunities to buyers in Salem County, however, the house must qualify from the insulation to the crawlspace.  In addition, for any loan approval, appraisals may also call for repairs.  Leaving obvious required repairs undone only raises a red flag and more extensive inspections and certifications to be needed.

·        Market analysis -  A Homebuyer Ready home will appraise more easily if it is in excellent condition and has all certifications but only if it is also priced right.  Understand your market value and have a current competitive market analysis completed by a NJ licensed real estate agent at least every three months.  You may feel like you’re not getting what you want out of your sale, however, you may also be buying a home afterwards.  Prices are low, the interest rates are at an all time low and even if you’re not a first time buyer, you may still qualify for the federal tax credit of $6,500 if you are under contract by April 30, 2010 and close by June 30, 2010!  It’s a wonderful time to buy!

·        Financing Concessions - It is helpful in this market to offer closing cost assistance to buyers.  Rates are low, but only for those with excellent credit.  Even those A+ buyers may have trouble coming up with the high percentage of closing cost funds.  Offering a concession attracts more ready, willing and able buyers and decreases the likelihood of a sale falling through.

·        Title search - Mortgage liens are typical, but you may not realize that other judgments such as tax liens, etc.are attached to your property.  It is always a good idea to run a title search before listing your home to make sure you will be able to pay these off and prevent a sale from falling through.

·         Seller’s Disclosure Statement - Offer a full written disclosure statement on all items in your home including dates of replacements, names of manufacturers and details of repairs. By informing the buyer of conditions of the property ahead of time you will eliminate surprises during negotiations and earn the buyer’s trust as well as reduce post-sale liability.

·        One Year Home Warranty benefits buyers by covering major appliances and systems for a period of one year after closing. Offering a one year home warranty will help sell your home faster, protect the home while it’s on the market and reduce post-sale liability.

·        Home Improvement - Environmentally friendly properties are in high demand. It is worth your time and money to invest in high efficiency HVAC systems as you can get up to $5000 in rebates and up to $8,000 in tax credits if you convert to natural gas via the Energy Star Appliance Rebate Program.  Exterior remodeling projects are boosting property values.  New Siding, and windows are the top home improvements that pay back followed by remodeled kitchens and baths.

o    Windows – Though not as visible as remodeled kitchens or bathrooms, there are few remodeling projects that improve the overall quality of a home better than new windows. Home buyers will recognize that new windows will not only make the home more comfortable and attractive, but will also save on heating and cooling costs. 

o    Siding – Though new siding and other exterior improvements may not be possible or necessary for some homeowners, no other remodeling project generates a better response from prospective buyers. Nationwide, the value recouped by homeowners that installed new siding is matched only by successful kitchen remodeling projects.

o    Kitchen – As one of the most used rooms in any home, upgrades made to the kitchen are always appealing to prospective buyers. Studies show, however, that the homeowners earn the most value when performing modest upgrades including new cabinets, countertops, floors and well-priced appliances. Hence, homeowners often don’t need to worry about including luxury products when remodeling the kitchen.

o    Bathroom – In many cases, remodeling an existing bathroom can raise the value of the home. As bathrooms can typically be remodeled affordably, this has long been a favorite project of homeowners looking to increase the value of their homes. Many homeowners who remodeled existing bathrooms experienced better return on their investment than those that added new bathrooms to their homes.