Bringing a property to the market in a salable position takes time and a well thought-out strategy. There are hundreds, sometimes thousands of properties that come on the market in Durango, Bayfield and Southwest Colorado during the summer months. Lots of competition coupled with the fact that buyers tend to be apprehensive on such a large purchase, and lenders scrutinizing every transaction, and you have a challenging market with which to get your property sold.
What does this mean for you? It should mean that proper planning and choosing your agent wisely are more important than ever. Here are four key elements to getting you and your Durango real estate ready for sale.
1. Determine what is important for you in the sale of your property.
Is it timing due to a job transfer out of the area? Is it a financial consideration (good or bad)? Is it downsizing or upsizing? Maybe you are moving to fulfill a life-long dream? Whatever the case, be honest with yourself about your motives and the significance of selling or not selling.
2. Start talking with an agent or agents.
The earlier you begin this process, the sooner you’ll gain perspective on who you want to work with and what they can do to help you. Ask questions and lots of them. Find out what their plan is to properly expose your property to the largest, most qualified group of buyers. Remember, more is not necessarily better – it is the strategy, approach, and execution that garners success at the end of the day, so make sure your agent has a strategy that is effective and well planned.
3. Start getting the property ready.
Wash the windows, clean the yard, put away all the “stuff” and start picturing yourself literally moving from the property. It is good planning to have all your ducks in a row and be both mentally and physically ready to move on.
4. Conduct a pre-listing inspection.
Having a pre-listing home inspection is the best way to determine if there are any issues that could prevent a successful sale or a renegotiation of the deal after the Buyer’s perform their own home inspection. I’ve seen it happen before, where simple fixes prevented the sale from going through. Sometimes buyers get cold feet and look for reasons to get out of the purchase. But don’t let a preventable situation affect the sale of your property. Plus, it’s just good business to have everything repaired or disclosed when selling something to someone else.