Selling your home is never easy. When you give away your house, you also lose that backyard in which you played fetch with your dog and the rooms you saw your kids grow up in, even that one step you always tripped on and that tap that would always leak. Houses have character and are a physical anchor to countless memories. But one’s needs change with time and you may end up wanting a home that is closer to work or maybe a place that is smaller, easier, and more economical to maintain. There could be numerous reasons behind selling your home.
Houses in California are quite expensive and yours probably has been your biggest investment so far. So, when it comes to selling your house, it is important to do it right so that you can get the best possible return.
Here are a few things you need to keep in mind before selling your house in California.
The Best Time to Sell
Prices of houses in California fluctuate based on various factors and throughout the year. However, if you look at the trend of home prices, you will notice that there is a pattern and you could get a better deal if you sold your house during a particular period in the year. In California, May, June, and July are the best months to sell a home and can help you earn a significant premium. However, you need to keep in mind that it takes a considerable amount of time to find the right buyer and settle on a deal, so start planning at least two to three months in advance.
There are various legal aspects you will have to consider while putting your house up for sale. The most important thing to know is that verbal agreements do not work and while selling your house you need to have a proper written legal contract. In addition to this, you need to disclose any aspects of the property that could affect the buyer’s purchase decision. This has to be done in writing by means of a Transfer Disclosure Statement. Also, any natural hazards that might affect the property also have to be disclosed through a Natural Hazard Disclosure form. A Transfer Tax also has to be paid in California when the house exchanges ownership. This tax is generally paid by the seller, but that is not carved in stone and you could arrange some form of agreement with the buyer.
Hiring a Realtor
The process of selling your house requires a big investment of time and effort. Simply listing your house online isn’t enough, especially if you live in a state where real estate properties are expensive, like California. You will also have to set up buyer visits and prepare the house for the same, conduct research about the prices and trends, and cover all the legal aspects. This can become quite complicated. The best way to get a good deal and sell your California house fast is to hire the services of a professional realtor. Yes, this will result in some additional expense in the form of the realtor’s fee, which averages around 4 to 8 percent, but the added convenience and the increased probability of a better deal, more than compensate for the additional expense.
While selling your house will eventually lead to a big payday, there are a few expenses that you will incur along the way. Just like hiring a realtor, following an escrow process is not compulsory, but is advisable and you may have to incur the fee of the escrow agent. In addition to this here are some more expenditures that you might have to bear:
– Title insurance fee
– City council fee
– Notary fee
– Termite inspection and pest control
– Legal consultation
Renting a Storage Unit
To sell your house and get a good deal, it is important to make it appealing. To do this, you may have to make some space in the house by removing some furniture. This will also make the house look larger. In addition to this, you may also want to remove personal items like photos from the house before scheduling the buyer visits. To accommodate these things, you should consider renting a small storage unit.
Selling a house in California can be quite a profitable deal. However, it entails more than simply identifying a suitable buyer and inking the deal. There are various legal aspects that you will have to consider and the entire process can be quite lengthy. The real estate market in California is quite dynamic and prices vary from neighborhood to neighborhood and season to season. As such it is best to prepare in advance and familiarize yourself with the process before you jump in.
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