Spring is just a few months away which means that the real estate market is about to heat up. For homeowners considering relocating when the weather warms up, now is the time to start preparing their home for the market. Getting the following projects squared away now will leave more time for marketing and new home shopping later.
Renovations & Repairs
Fix any known issues with the home that might create a legal liability after the sale. Any roof, sidewalk, electrical, and plumbing issues should be resolved. Not only will this resolve potential liabilities, it will boost the home’s curb appeal and value.
Research Properties in the Area
How much is the home worth? To determine this, compare it to similar homes within the neighborhood. Research the market within the area as well so that the home can be listed at a fair and competitive price for the area. Research should include everything from schools and shopping centers, to new businesses and attractions within the area that could affect the home’s real and perceived value.
Documents and warranties related to home repairs, permits, home appliances, zoning, HOA dues, etc. should all be ready to go when the home is listed. Homebuyers may or may not request to see these. However, if they do then having them available will be greatly appreciated. It is a minor detail that homebuyers will notice that will help the home stand out within the market.
Prepare Inspections & Disclosures
Illinois requires several disclosures when selling a home. Homeowners are required to provide information about past flooding, flood risk, dangerous conditions, code compliance, property lines, defects with the home, and any known environmental issues such as radon, lead, or asbestos. Having these inspections and documents ready to go will save time and make it easier to sell the property.
Hire an Attorney & a Real Estate Agent
Hiring a Chicago real estate attorney and a real estate agent now gives homeowners the ability to prepare all the necessary documentation and paperwork before everyone else in the neighborhood gets started. Starting the search now gives homeowners time to carefully research and interview attorneys and realtors in the area.
Each of these steps make the home selling process a little bit easier and more efficient for a spring sale. Taking care of these tasks early makes it less likely that problems will arise later that could delay a sale.