On average, homes will sit on the market for 22 days. In addition, the average time to close a purchase is 49 days, for a total of 71 days on average from listing to closing.
To price your home, you should look at the comparable homes in your neighborhood or city that have sold or been listed within the last year. It is possible to do this on your own, but most people get these through a real estate agent.
The best thing you can do to increase the chances of selling your home is to make it presentable. The easiest way to do this is to clean everything. Clean houses are more likely to sell, because the buyer will associate your home with cleanliness. Any repairs or cosmetic fixes you can do to improve your home’s image helps too. If you aren’t going to move out before you sell your home, you should depersonalize your home as much as possible. You want the buyer to be able to imagine themselves in your home easily, and seeing another family detracts from that.
The best time to sell a home is from May-August. 40% of home sales happen during these four months. Home sales tend to drop when winter hits, and January is typically the month with the lowest amount of market activity.
Sellers usually pay 8-10% of the sale price in closing costs. This includes 5-6% on average in commission to the involved real estate agents and 2-4% in taxes and fees.
The first thing you should do is talk to a mortgage lender and find out what kind of loans you can prequalify for. Once you know how much you can get approved for, then I can help you start looking for homes in your budget.
According to research, in 2019 it took buyers an average of 4.5 months to choose a home and make an offer. The buying and transfer process, once an offer is accepted, takes anywhere from 30-45 days on average. This can vary, depending on the location of the home and current market trends.
Buyers are responsible for getting a home inspection, an appraisal, and conducting a title search. Buyers also must finalize the mortgage details and review the closing documents before completion of the sale.
20% is the ideal amount for a down payment because you won’t have to pay for private mortgage insurance for that amount. However, it is sometimes possible to buy a house with a minimum of 3% down. Check with your mortgage lender for the latest information, as there are special programs that can be taken advantage of if you’re a first time home buyer.
The answer to this depends on whether you’re looking for the best prices, or the most options. April is typically the busiest month for new listings, whereas November is typically the best month to find a better deal, however market conditions such as supply and demand can affect these.
Typically closing costs are between 3-5% of a home’s sale price. This includes taxes