The city of Memphis, Tennessee is in the southern portion of America. Its two most significant exports are barbecue and blues music, which are part of America’s rich culture. It also boasts relatively affordable housing which might have caused you to buy a real estate property there some years ago.
Now that you’ve decided to sell your property in Memphis, here are some things you need to know:
You might want to hire a Memphis-based real estate professional to sell your property there
Since it’s your first time to sell any real estate, you might think of doing it all by yourself. But hiring a Memphis-based realtor will benefit you more since they know how to sell your property better than you do. Just make sure to ask them upfront if they possess a still-active license that they got after enrolling in any of the courses reviewed in https://www.bestrealestatedirectory.com/ and passing Tennessee’s licensure exam for aspiring realtors.
But a real estate license alone doesn’t necessarily make an excellent agent. You’ll also have to check if they possess the following qualities that can help you secure a good deal in selling your property:
- Keeps near-constant communication with you on how to make your property more sellable
- Seeks potential buyers of your property without you having to nudge them to do so
- Listens attentively to any concerns you might have about a potential buyer’s offer
- Motivates you to sell your property at a price that will benefit both you and its lucky buyer, and
- Adjusts easily to however you want to convey your concerns to them
Bear in mind that once you successfully sell your property with the help of a Memphis-based real estate agent with the right qualities, they have the right to take a cut from the final amount that led to its sale. Before that even happens, you should negotiate with them regarding their commission for the services they’ll render to you. Pay them fair so that they’ll instantly want to work with you again in case you have another property in Memphis to sell.
You need to beautify your property both inside and out to boost its value
If your property in Memphis looks ugly at first glance, no one would want to buy it from you. Or even if it looks beautiful on the outside but terrible on the inside, any potential buyer might ask you to sell it at a reduced price.
You should increase the value of your property by doing any of the following:
- Give it a fresh exterior and interior paint job.
- Replace all non-working lighting, kitchen, and bathroom fixtures with new ones.
- Get rid of all dust and dirt inside your property by sweeping or vacuuming them.
- Install insulation in your property.
- Consider adding flower beds outside your property’s windows to give it more color and warmth.
You’ll want to take the first reasonable offer to buy your property that will arrive
Several proposals from potential buyers may come your way after opening your property in Memphis for sale. However, some of them will lowball you into selling it at a price lower than you originally intended even if you already did what you can to raise its market value.
You should go through each offer to buy your property as thoroughly as you can. But make sure to communicate with all potential buyers often. You never know when you and any one of them can both agree on a price that might not be the same as the one you’ve set but will nonetheless earn you a decent profit and is within the purchasing budget of the buyer in question.
You’ll have to accomplish a disclosure form under Tennessee’s statutes surrounding residential properties
Just because you’ve successfully sold your property in Memphis to a buyer doesn’t mean that you can instantly hand over its keys to them and move out of there. Under the state of Tennessee’s Residential Property Disclosure Act, you have to accomplish a corresponding statement wherein you have to disclose the following information:
- Complete address of the property itself
- Property age (in years and months)
- Defects in your property that you haven’t addressed for whatever reason
- Renovations you undertook for your property that didn’t comply with any of Tennessee’s residential codes
- Any pre-existing conditions adversely affecting your property such as sinkholes and other similar environmental hazards, perennial flooding caused by inclement weather, and the like
Once you’ve filled out the said form, you’ll then have to sign and present it to the buyer of your property for their safekeeping so that they won’t take legal action against you.
The real estate market in Memphis, Tennessee is a hot one in 2018. If you have a property there that you need to get off of your back due to a required move, you can sell it to anyone interested in it faster than if the market is either neutral or cold. However, before you open it up for sale, you should take note first of the things that you need to know as listed above so that you won’t run into any legal and other complications later on while selling your old home.
December 27, 2018