7 Rules: How to Sell Your Orlando Area Property

Posted by Jennifer Dollar on Monday, January 31st, 2011 at 12:50pm

downtown_orlando_at_night1. For a buyer, the first rule is almost always: location, location, location. For a seller, your mantra is "price to sell." If you must sell now, don't waste your time by overpricing. List your house based on what the market dictates today, not off of what you were expecting to make. Be wary of agents who will urge an excessively low price, and ask your agent for comparable sold listings. Make a sound decision to make out the best you can, and remember when doing it that you must price it right to sell it. If you don't don't price your Orlando area property right, it will never sell. Pricing right early can sometimes even cause a bidding war that nets you more than expected.

2. Consider every offer, unless of course, it's completely absurd. Holding on too long might put you in a situation where you're playing catch-up with a changing market. Don't assume there will always be a better offer down the road. The dividing line for what's reasonable depends on the overall market and is also relative to the property area as well.

3. If you have time, plan with your agent on when the house could show its best to maximize value. Early spring could be the right time to start so that you peak for summer buyers.

4. If you're in a saturated market, be competitive by offering extras that others aren't. Buyers are requesting all kinds of enticements these days. Prepaid lawn maintenance, moving-expense reimbursements, specialized appliances, decorating expenses, consumer electronics, and repair credits are just a few examples of how you can help sway a deal. Don't be shocked if you hear, "Throw in the furniture and hire a painter, and then you have a deal." Consider how far you'll go well in advance and hold the line, because if you don't you'll regret it.

5. Preserve your equity. If you don't, it can kill your future home sale. Refrain from borrowing against your home equity to pay your bills, for vacations, or any other major purchases if you can. If you borrow against equity and the market goes down, the money you were betting on might not be there when it comes time to sell. Doing this boxes you in, so avoid equity loans if you can.

6. Gain in a double transaction scenario. If you'll be buying another home at the same time you're selling your current home, the price reduction on the new property can compensate for the "loss" you're taking on the old one. If you plan a "move up" to a more expensive property and are paying 15 percent below list after selling your old home for 15 percent below list, your net dollar savings will actually be more. Just be careful though. Even though the math may work in your favor, don't take on more than you can handle just because a home is a good value.

7. Stay if possible. If you're happy in your home and are meeting your expenses but want to sell due to continuing "housing bubble" fears, sit a spell. A home is a shelter first, and investment second. Except for a handful of markets that are still hyper inflated, odds are that it will pay to ride out the storm. Generally, the early stages of a downturn are the scariest because that's when amateur investors are dumping "spec" properties cheaply.

Looking for more information about Selling your home or condo in the Orlando, Florida real estate market? RealtyExecutivesFL.com specializes in the Florida real estate market having offices in Orlando, Lake Mary, and Longwood Florida. Contact us online or call us at 1.888.HOME.427 today for a free consultation.

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