How To Sell Your Home for the Right Price This Summer in Minneapolis St Paul

Are you thinking about selling your Minneapolis St Paul house this summer? Of course, you want to get the right price for it, so make sure you read this blog post today to learn how to sell your home for the right price this summer.  Before you know it, the summer will be gone…

If you’re selling your home this year, then you want to get a great price for it. But what’s the best way? What should you do? What should you be aware of, any pitfalls?

There are several strategies of how to sell your home for the right price this summer in Minneapolis St Paul, and these are some of the most important concepts you need to know… They are not difficult to understand, and if you follow them, you will have a better chance of success.

How To Sell Your Home For The Right Price This Summer In Minneapolis St Paul

#1. The Right Price

How To Sell Your Home for the Right Price This Summer

When you think of selling your house for the right price, you might be wondering, “what is the right price?” Is it what I feel is right, what others say is right, what your property tax value says whats right? Those are all natural things we go to, but they don’t give you a real-life picture of what the right price is locally in {market_city]. 

Ultimately, the right price is the price that the house sells for. Stating that the sale price when you have not even sold it yet, may sound a little bit like a joke, but in reality, the market sets the price, you don’t. Let me explain a couple of things. From a big picture view, if you set the price too high, it won’t sell; too low of a price, and you’ll lose out. But the right price is the one that sells the house.

To figure out what the right price is to put your house up for sale in the summer so that it sells, you need to consider a couple of things. First, you need to know what houses around your home are similar to yours that have sold.  Find houses that have sold within the last 6 months, within 1/2 mile of your house. Find houses with similar finished square footage, number of bedrooms, bathrooms, and garages.  Then there is the big one that makes it kind of painful for most people, find properties that are in the same condition to compare yours with. When you have pulled these together, and you have an exact match with other like properties that have sold, you have a good idea of what yours would sell for on the retail market. 

Second, If your property is better, bigger, or have more bedrooms than the place you are comparing with to find out what the right price this summer, increase your value.  The same is true, the other way.  If your home is 1100 total square feet finishing living area and the other comparable one is 1400, your value is going to be less then that one.

Thirdly, we are talking about retail value.  Retail value is the value you might get working through a full-service real estate agent who provides their best services to get your place sold.  They are going to be looking for the best buyer who will pay a premium for your home.  That same agent is going to be talking to you about all the things you need to do. Like doing repairs, delayed maintenance, deep cleaning to get your home ready to sell for the right price during the summer in Minneapolis St Paul. That service does not come cheap.  Some full-service agents charge 7% for their services.  On a $200,000 house, that’s $14,000 in commissions to get a retail price.

#2. Timing

Another aspect of selling at the right price this summer is timing; in reality, any time of the year is about timing. When people want to buy in the summer, they often want to be able to close and move in before their kids have to be in school. When selling your home in Minneapolis St Paul during the summer, the drop-dead date for the sale and move-in should be before Labor day. For that reason, you may benefit from selling quickly and offering a fast possession date, and that might give you an advantage in terms of selling at the right price.

As for a process to get ready to sell in summer, most professionals think you should have your plan prepared by April, doing repairs, painting, and updates in May.  By the end of May, you have your comps to help set the right price to sell your property. Then hit the ground marketing in June to hopefully get an offer in July with closing to happen at the end of August.  It takes a lot of planning and forethought to pull off a successful summer sale at the price you were hoping for.

#3. Invest

One of the best ways to get people to buy at the right price is for you to first invest in your home.  Those investments would include upgrading and updating your home, so it is ideally positioned for buyers to buy it. We talked about this a bit earlier when we were discussing using an agent.

For most places, this could include painting the interior and exterior to freshen it up for a prospect coming threw this summer to view your home. Many of the areas around the older parts of Minneapolis St Paul have not been updated in years.  You might consider redoing a bathroom or remodeling a kitchen.  These are expensive updates, but if you want to get the right price, you may consider doing them.

Of course, this does mean you have to spend some money and time upfront, but it could be worth the effort.

#4. Negotiate

As mentioned earlier, the right price is the price that the house sells for not just a price you and your friend think it will go for. To get to that price, you should start your asking price a higher amount than the price you want to end up.  As a general rule, go 5% higher and know you have room to drop the price as you go into the summer selling season. When getting someone who is interested and they seem concerned about the price, you can drop it

If you think you have your Minneapolis St Paul house priced right and the summer is going by faster without a sale, you may consider dropping it again.  Remember what we said earlier that the market sets the price, so negotiate with anyone who brings an offer. You might not get exactly the price you want, but the buyer probably won’t get the price they wanted either. Hence, you use negotiation to find a price in the middle that will work for both of you.

Summary

If you want to sell your house this summer, you want to get a good price and sell it before the fall come, do these tips.  Set your price at the market value, figure out your timing, invest in making it sellable, and negotiate the deal to wind for both you and the buyer.  Here we’ve given you 4 strategies about how to sell your home for the right price this summer in Minneapolis St Paul.

If you want to bypass the sales process entirely and sell directly to a professional house-buying company, get in touch with us today! Simply click here now and fill out form or call our office at (612) 444-5088

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