10 Most Common Questions From Home Sellers
March 15th, 2024
Common Questions From Home Sellers
What are the most frequently asked questions that home sellers ask? Here is what you need to know if you are selling your home.
Deciding to sell your home is a big step that will require lots of preparation and planning. No matter how far along you are in the process, knowing all you can about the real estate market and how to appeal to buyers before listing your home is important.
Selling your home is not always easy, but sometimes it is necessary, especially if you want to relocate to a new neighborhood or downsize your home. No matter what signs tell you to sell your home soon, working with an experienced and reliable real estate agent will ensure you sell fast and for the most money.
Often a stressful process that leaves sellers overwhelmed, knowing the answers to some of the most frequently asked questions from other home sellers will help you stay informed and encourage you to make the best decisions for you and your family when selling.
Here is what home sellers need to know
Chapters
1. When Is The Best Time To Sell My House?
The best time to sell your house is during the spring, specifically during the month of May. Not only is the weather warmer and the days are longer, but most families want to be in their new home before the new school year starts, and many working professionals can easily take off during this time of the year since it is after the holidays.
Even though fall and winter offer cheaper prices if you hire a professional mover, these are often the worst times to sell a home. Not only is moving during the cold months not as enjoyable but there is also a decrease in seller premiums that begins in September. The worst time to sell your home is during the month of November, which is the start of the holiday season.
Seasonality is important, and the highest earning months are May, June, April, and March. Since spring and summer are great times to sell and seem to attract the most attention from homebuyers, this is the best time to sell your home, where you will see the most demand and higher earning potential.
2. How Is The Real Estate Market Right Now?
Before you decide to sell your home, you want to ensure that the market is in the best condition. As of February 2024, the housing market in North Carolina has seen a slight decrease in listings and sales, indicating a tight market with low liquidity and high transaction costs.
Currently, in a seller's market, the housing demand exceeds supply, meaning there are more interested homebuyers than available homes. Due to this, it is a good time to sell your home right now in North Carolina.
Home to one of the hottest housing markets in the country, Raleigh is number two in the nation, and Durham is number four. There is strong buyer demand in the area, which is great for home sellers.
Always research your local housing market before putting your home up for sale in order to ensure a successful sale. Working with an experienced real estate agent will help you determine the best time to list your home and can help you decide the right asking price.
3. What Should I Disclose to Potential Buyers?
If you are selling your home in North Carolina, there are multiple things by law that a home seller must disclose to a buyer before a purchase contract is signed.
As one of the most important real estate laws in North Carolina that you should know, disclosure requirements are in place so that homebuyers are not surprised with a problem once they move into a home. They also protect the sellers from homebuyers who decide to take legal action.
Whether you have a flooded basement or a termite infestation, it is important to let buyers know ahead of time of any material defects or hazards in the home that may affect the value of the property.
| Things That Need To Be Disclosed in NC | Things That Do Not Always Have To Be Disclosed in NC |
| Health and Safety Issues | Death |
| Oil and Gas rights | Missing items |
| Natural hazards | Square footage |
| Known defects | Fire history |
| Future construction projects | The financial state of the seller |
*Data Sourced from ABC 11.
4. How Much Is My Home Worth?
This is perhaps one of the most important questions to ask when considering selling your home. As a seller, you want to make as much money as possible from a sale, so knowing your home's current market value can help you with that.
Knowing your home value will help you determine an accurate listing price to, in turn, sell your home fast. Working with a real estate agent and hiring a home appraiser are the best ways to know your current home value.
5. How Will You Market My Home?
Knowing how a real estate agent will market your home is a crucial question to ask as a home buyer and seller. Before deciding to work with an agent, it is recommended to interview at least three different agents to determine which one will fit you and your selling needs best.
You want to work with an agent who knows the market, is available to help you, and can use their network and marketing techniques to sell your home fast. Marketing is an area that your real estate agent should know best since it is through marketing that a sale will happen.
Will your real estate agent promote your property online? Will they utilize social media? Will they write a great real estate listing description? Will they host open houses?
Marketing is the number one way your agent will find potential home buyers and successfully sell your home for the most money. Ensure you know how an agent will market your home and that you are on the same page before deciding to work with them.
6. Should I Make Repairs?
It is recommended that home sellers make necessary repairs to a home that could cause a significant safety issue before putting a home up for sale. Major issues such as leaks, infestations, sewage issues, and electrical hazards should be dealt with in a timely manner.
In many cases, sellers are legally obligated to disclose and repair any serious issues within the home. Fixing up a home before selling could also increase the sale price, which is always good.
North Carolina law states that a homebuyer is not required to conduct a home inspection, but it will provide the buyer with a general understanding of the condition of the home. Most if not all of the time, a home inspection will be conducted, so it is a good idea to have all repairs completed before then.
Home buyers might try to negotiate repairs after a home inspection. In this case, sellers are advised to offer repair money instead of handling the repairs yourself. This will ensure that the buyer is not continually checking on you and breathing down your neck until the repair is completed.
7. Should I Order a Home Inspection?
Sellers are not required to get a home inspection, but getting a pre-inspection might be a good idea if you want to get ahead on any repairs and requests a buyer might make.
Often called a pre-inspection, a home inspector can provide insight into any issues your home has, which can mean fewer surprises when you list your home on the market. Pre-inspections will uncover any problems that could impact the value of your home and will give you enough time to fix any issues.
On the downside, pre-inspections cost money, with an average price of $342 across the country. If you would rather put that money towards other things, such as home improvements that you know will help sell your home, that might be a better investment.
8. What Is Fair Market Value?
Fair Market Value is the determined price a home will sell for in an open market. Often referred to as FMV, fair market value is essentially the benchmark of a property and is used to determine a price range at which a home will sell.
Unlike market value and appraised value, FMV is determined through standards, guidelines, and regulations. Fair market value is important to know during any real estate transaction, and it helps sellers figure out how to best price their home on the market.
9. How Do I Increase Home Value?
Every seller wants to sell their home for the best possible price. Luckily, many home improvement projects can increase your home's value without spending too much money.
Here are the best ways to increase your home value before selling:
- Spruce up curb appeal
- Update your kitchen
- Add a bathroom
- Repaint interior
- Add energy efficiency
- Refinish your floors
- Upgrade the appliances
- Add square footage
- Get new doors
10. Should I Provide a Home Warranty?
Once you put your home up for sale, the last thing any seller wants is for something to break or not work properly. Not only could a faulty appliance or breakdown of a major system in the home cost you time and money that you might not have, but it could hurt your purchase price.
Home warranties for sellers are a great option that provides protection in case of instances such as this. Warranties for homebuyers are often advised, but many sellers might not realize they can also get a warranty.
Most home warranties cover household appliances, plumbing, HVAC systems, and electrical wiring. Even though home warranties can cost between $360 to $900 per year, they provide excellent financial protection in case anything goes wrong before a sale is finalized, making it worth the purchase.
Methodology
We used data and information from multiple reliable sources, including U.S. News and World Report, ABC 11 Eyewitness News, Investopedia, and The North Carolina Real Estate Commission, to determine the ten most common questions from home sellers.
FAQs
What is the most asked question in real estate?
One of the most commonly searched and asked questions in real estate is how much a homebuyer will need for a down payment.
How do you interview a realtor when selling a house?
If you want to sell your house, make sure to interview multiple realtors before choosing one and ask them as many questions as you want, including how they will market your home.
What is the secret to a fast sale of a property?
One of the best ways to sell a home fast is to price it competitively, have good listing photos, and have great curb appeal.
Most Common Questions From Home Sellers - Final Thoughts
Selling your home is not as simple as just listing your home on the market. There is a lot of work that goes into getting your home ready for selling, from completing repairs to getting a home evaluation.
Whether you are selling the first home you have ever owned or have done this before, the process can be confusing which is why it is important to ask as many questions as possible and get help from professionals.
If you are moving to Raleigh or the Triangle area, the experts at Raleigh Realty are here for you. Contact one of our experienced and knowledgable agents to ensure that you sell your home the right way and with as little stress as possible.
Ryan Fitzgerald
Hi there! Nice to 'meet' you and thanks for visiting our Raleigh Real Estate Blog! My name is Ryan Fitzgerald, and I'm a REALTOR® in Raleigh-Durham, NC, the owner of Raleigh Realty. I work alongside some of the best Realtors in Raleigh. You can find more of my real estate content on Forbes, Wall Street Journal, U.S. News and more. Realtor Magazine named me a top 30 under 30 Realtor in the country (it was a long time ago haha). Any way, that's enough about me. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Raleigh Realty. Looking forward to connecting!
Related Blogs
