Thinking of selling a home in the Triangle? Whether it’s your first-ever home sale or you’re an experienced real estate investor, you likely have a question (or two) about home selling in the Triangle. But since informed sellers are successful sellers, we want to make sure your questions are cleared up before you start the process!
Not finding the answers you need? Please feel free to contact us with questions at any time!
Common Triangle Home Selling Questions
When is the best time to sell?
Ideally, the best time is during a “sellers market”, i.e. when there are more buyers than sellers. However, the “best time” also depends on your specific needs and timeline.
Some common factors that make for good home selling conditions include:
- A strong economy
- Low interest rates
- Good weather
- When your area is “hot” or popular
What should I do to get my home ready to sell?
It depends on you and your house—how much time you have, how “lived-in” your house is, the age of your home… Ideally, you’ll want to hire a home inspector to root out any and all potential maintenance problems—they’re going to come out in the buyer’s inspection anyway, so you’d might as well get a jump on any issues!
A good start is completing any lingering repair projects and doing a deep clean on your home. Tidying up and removing excess clutter is a good follow-up and can help increase your home’s feeling of size and spaciousness.
Want more home-prep tips? Get them here!
How do I know how much my home is worth?
Many sellers make the mistake of thinking they can list a home for what they want or expect to get. Unfortunately, even in a hot market, that’s not the case. The value of a home is determined solely by what buyers are willing to pay.
To find this value, you’ll probably want to get an expert opinion from an experienced local real estate agent. Comparing your home to other sold homes in the area based on size, condition, yard, specific location, and many more factors, a good Realtor can give you a very accurate estimate of what buyers will pay for your home.
Should I price my home higher to leave room for negotiation?
No! Don’t make the mistake of thinking that you can get more for your home by pricing it higher than its value. Many buyers today shop online using home search tools that allow for specific price search criteria to be set. Pricing too high can move your home up into a higher price bracket—meaning it doesn’t show up in searches with similar homes and is instead being viewed alongside more valuable, but similarly priced, homes. Guess whose home will look unappealing?
How long does the selling process take?
It depends on a number of factors! Depending on when you list and how “hot” the market is, as well as your listing price and the competence of your agent, you could have your home on the market for a number of days, weeks, or even months.
To increase the odds of selling home quickly, you’ll want to list at the right time (i.e. when your neighborhood is in high demand), price your home correctly, and ensure your home looks its very best.
What should I disclose to potential buyers?
Anything you’re aware of, not just what you’re afraid might surface in a home inspection. If you know of any potential problems, defects, or even issues down the road, it’s always best to be honest and upfront. You'll likely want to fix any of these problems before listing your home, but if this isn’t possible, it’s definitely better to inform buyers before any offers are made.
What does home-selling look like from a tax standpoint?
For most people, selling a home results in “capital gains”, i.e. selling for more than you bought it for. Normally, any type of “capital gains”, such as from sale of stocks or other items, is taxable by the IRS, but thanks to the Taxpayer Relief Act of 1997, a certain amount of this gain can be excluded.
For individuals, up to $250,000 of capital gains will not be taxed. For married couples, that number increases to $500,000.
Why should I pay to use an agent?
Does working with a real estate agent to sell your home cost you money? Yes. So… why would you bother? There are a few reasons, but the main reason to work with an agent is because you’ll likely make more money on your home sale. An agent’s ability to correctly price your home, plus their experience with marketing and networking, will get your home seen by more of the right buyers, which increases its odds of selling for more money and in less time.
Working with an agent can also help alleviate some of the stress of home selling—an agent can provide expert advice, can manage things like showing and open houses, and will fully cover all marketing and advertising.
Read to Sell Your Home in the Triangle?
Are you thinking of selling a home in the Triangle? Then it's time to contact Carla Freund Realty. We're here to answer all your questions, help you get your home ready, and list your home with ease!