You are probably like the majority of people selling homes in Arkansas and have more questions than answers when it comes to selling your property, unless you are a professional real estate agent or have one in the family. Many individuals will be happy to share their ideas regarding your queries when you start asking your friends and coworkers, but how can you tell the difference between opinions and accurate responses?
Here Are Questions We Hear From People Selling A Home in Little Rock
We work with home sellers every day of the week as professional home buyers. We’ll talk about solutions to the most common queries we get asked. Please feel free to contact us if your specific question is not answered.
1. What time of year is ideal for selling a home?
There are surely some months (and even specific days) of the year when selling your home will move more swiftly, smoothly, and financially than other times of the year. Spring and summer are frequently the best seasons for home purchases, with fall and winter witnessing a dip in sales.
According to Lending Tree in an article citing a survey by ATTOM Data, the best months to sell your home are June, May, or July if you want to maximize your profit. The average cost of a home sold in June was around 9.2% more than the cost of a home sold in May. Furthermore, data show that it matters what day you market your home. In an article on Cision Newswire, Redfin claims that properties advertised on Thursdays sell more quickly and for more money than those listed on other days of the week.
The best time to sell, however, really depends on your local market and your unique circumstances as a homeowner because the real estate market is so niche. You should think about the following:
- How well-liked is real estate in my area? Is the market one for buyers or sellers? You’ll sell your home for the highest amount of money and in the shortest period of time if you do it in a seller’s market.
- How much of the amount I owe on my home have I already paid off? You’ll earn more money the more debt you’ve paid off.
- How stable am I financially? Costs are associated with both selling an existing house and purchasing a new home (if that is the plan). Make sure you have enough cash on hand to cover the costs related to your sale.
- What’s going on in the neighborhood market? You can consider assessing local market trends before deciding to make an offer on your home, such as the number of active listings or the median sale price.
2. How Long Will It Take For My House To Sell?
The amount of time it takes for your property to sell mostly relies on where you are as well as the state of the local housing market in your town, city, and even specific neighborhood. The state of your house, the asking price, and your (or your agent’s) marketing and staging abilities could all have an impact on how quickly your home sells.
The average home is listed for 62 days, according to data from the National Association of Realtors. Variations across states are clear. For instance, the median Vermont home has been on the market for 186 days. In Washington, it is only 37. Understanding how quickly your home might sell in your specific market is essential once more. According to Rocket Mortgage, so far in 2023, the average days on the market for homes in Little Rock has been about 70 days. Check the latest stats here.
Do you prefer to move whenever you want to rather than deal with the difficulty of selling your house? Learn how we streamline the home selling process.
3. What Is The Value Of My Home Or How Much Can I Sell My House For?
The two main factors affecting the value of your home are its condition and the level of demand for homes identical to it. The easiest way to determine the price at which your home would sell on the open market is to study comparable sales. Verify that their dimensions and state are equivalent to yours.
A real estate agent would use these to determine the appropriate listing price for your home. They go by the name “comps” as well. You may also receive an offer from a cash buyer like Little Rock Property Buyers, who can buy your house without needing to put it up for sale.
4. What Is It Going To Cost Me In Fees, Commissions, And Closing Costs To Sell My Home?
There are numerous costs associated with house sales. The bulk of them, thankfully, do not require a direct out-of-pocket payment. Instead, many come from the profits you make at transaction close.
- The average cost of fees and charges is equal to 10% of the price of your home. These include things like:
- The fee that you gave your real estate agent (5 to 6 percent)
- Getting your home ready and staged (1 percent).
- Seller concessions (between one and two percent)
- repairs costs (which vary)
- Homeownership costs overlap (1 percent).
- Closing costs range from 1-3 percent.
You can lower some of these costs by eliminating the real estate agent, selling your house to a reputable home buyer like Little Rock Buyers, or selling it as-is (without any repairs or staging). But keep in mind that homes in need of extensive renovations typically take longer to sell (and sell for less cash).
5. Should I Fix My Home Up Before I List It In Little Rock?
A house is considered “move-in ready” if it doesn’t require extensive remodeling before a buyer can move in. 76 percent of younger buyers, who are more inclined to buy a property, said they require a move-in-ready home. In addition, read about disclosure laws and inspections in Arkansas here.
As a result, you might want to consider making some repairs before putting your home on the market. Making little cosmetic changes will help you make your home more marketable (and more valuable). When it comes to bigger, more well-known issues like a leaky roof or a broken air conditioner, termite damage, or storm damage, you have two options: either undertake the repairs yourself and pay the expense, or lower your price. Buyers are less inclined to offer top dollar if they are aware that substantial, expensive projects are in the works.
If you want to begin the repairs right away, take into account a seller’s inspection. For a few hundred bucks, a home inspector will examine your house and look for any flaws or issues. Following that, you can use their report to guide the pre-listing maintenance work you carry out. You can do this to make your house more marketable and prevent further delays brought on by time-consuming inspections. Keep in mind that your state may require you to identify specific issues that the inspection may reveal.
Professional home buyers like Little Rock Property Buyers can pay you cash for your property in Little Rock even if you discover that the renovations and repairs required to sell your house are either too costly or time-consuming for your situation. You can just agree to the deal and leave the negotiation table with your money. No trouble, no repairs, and no inspections.
More Questions and More Answers From Little Rock Property Buyers (And A Cash Offer For Your Property)
There are many other questions home sellers in Little Rock have such as do I need a realtor, how to find the best realtor, what about an auction sale. We would be happy to discuss these questions with you and give you honest professional answers based on our experience.
We are an experienced real estate investment company at Little Rock Home Buyers. We are a home buying business that has a reputation for protecting the interests of potential clients and for closing deals quickly and successfully. We know that no one wants to accept a low offer, therefore we try our hardest to make the best offer we can to each and every one of our clients. We can make you an all-cash offer for your property. Nothing needs to be revealed, corrected, remodeled, or cleaned up. In actuality, we provide you with cash in its current state. More information on our operation and policies can be found here. Once you decide to accept the offer, we can close the deal extremely fast. Why not call today? You have nothing to lose. Use our online contact form or give us a call at 501-580-3035 right away.