Selling your home                                                                           << Back

Selling a home can be as complicated as buying. The experience can be bitter or a happy one. When all steps are executed without any issues, although tiring, the selling can be a pleasant experience. To top it off, if the seller gets what he or she wants, that is awesome. This is an ideal scenario though. Often times, the seller can have tons of issues with the selling process. There is either a lot of time wasted or the seller may not make the money they deserve. 

There are two types of markets:

1. Seller driven: During the housing boom, there were lots of buyers, but less number of homes to be sold. This drove to a "price war" between the buyers. That is, the buyers started to bid on the properties and that drove the price of the home. The sellers enjoyed the benefit of the price wars. When the inventory (number of homes to be sold) is low and the buyers are more, the market is driven by sellers.
2. Buyers driven: During the housing bust that we saw in 2007 and beyond, there was a sudden boom in the number of houses that came on the market. Although, the issue was related to sub prime lending fraud, it collapsed the once thriving market. Suddenly, the buyers started to hold off on their buying process. This caused the inventory to sky rocket and the sellers started to cut back on the price and even offer lots of incentives to lure the buyers into buying their property. This drove the market down. Such a market where a buyer has an upper hand is a buyer's market.

When selling a home, the following factors need to be studied carefully. We can study each of these factors in detail by clicking on each of the links.

• What type of a market we are living in
• What kind of inventory do we have in the neighborhood
• What would be a fair market value for the house
• How long is it taking to sell a home in current market condition
• How do I make sure that I reach the maximum potential buyers
• How do I market the house
• How do I stage my home that can attract maximum traffic
• Should I hire a real estate agent or sell on my own
• what kind of costs are involved in the selling process
• what type of process is involved in selling a home
• How do I negotiate with a potential buyer that is professional and legal
• Are there any tax implications in selling my home
• What kind of disclosures or disclaimers do I have to provide the buyers

These are very important factors and unles each of them are understood, they can have a potential negative impact on the overall experience and can even make a deal go sour.