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People sell their upscale homes for different reasons. Some change jobs and need to switch neighbourhoods, others downsize after their children move out, and others still cash out to travel or pursue other dreams. Regardless of the reason, selling a home isn’t a straightforward task.
For one, you need to say goodbye to a place where you’ve built many precious memories. In addition to the emotional challenges, you must take several steps to ensure the following:
- You get fair value for your home
- The process is as fast and smooth as possible
- You meet all obligations before and after the sale
- You’re prepared for the move
Here are some steps that can help with the home selling process:
#1 Preliminary Financial Legwork
Get an idea of your home’s value before proceeding. You can check online against the value of other similar homes in the neighbourhood or contact an appraiser. Calculating your equity by subtracting your mortgage payoff from the home value should also help you develop your financial picture. Please note that you’ll have to pay taxes, fees, commissions, and expenses from the equity too.
#2 Start Packing
Some experts say that you should start packing early. You may have spent decades in your home, so packing may take much longer than you realize. We’re not saying you start dismantling furniture already, but you could box smaller items, declutter, and give away unwanted stuff. Packing early will also help you depersonalize your home. Depersonalizing will help with the staging process later.
#3 Find a Top Agent
As you probably know, hiring a real estate agent is a crucial part of the home selling process because they can:
- Help you market your property
- Find the perfect listing price after completing a comparative market analysis
- Time your sale
- Organize all documentation
- Manage viewing appointments
- Manage staging
- Prioritize your goals
Hiring a top real estate agent is even more important when selling an upscale property. Upscale properties only sell smoothly when offers come from select and quality buyers. A locally renowned realtor who specializes in upscale neighborhoods may already have buyers ready to make offers.
For example, top realtors in Lawrence Park like Adam Weiner + Associates can help sellers get top dollar for their homes in the highly exclusive Toronto neighborhood. These agents are reliable, experienced, qualified and work collaboratively with their clients to help them sell their homes.
#4 Try a Pre-Sale Inspection
Some homebuyers try to negotiate the price down by over 10,000 by finding faults with the property. For more negotiating power, consider hiring a pre-sale inspector. Following the report, you can carry out the repairs for a more reasonable price than a potential buyer may leverage to offer less money. And armed with the right information, you can avoid knocking down the price more than necessary during the bargaining phase.
#5 Enhance Home Appeal
- Complete necessary maintenance and repairs
- Avoid needless upgrades
- Declutter the home completely
- Depersonalize the home
- Add cost-effective aesthetic upgrades to boost the look of the property
- Invest in curb appeal by fixing up the lawn, contacting a pressure washing company for driveway, wall, and outdoor lights
- Work with a professional to stage the home
These are five steps you must take before selling your upscale home. Be proactive and partner with the right professionals to achieve your objectives.