Have you outgrown your current home or just want to change locations? Has the time come to go from homeowner to home seller?

If your answer to any of these questions is a yes, then you’re definitely ready to sell. Selling a home can feel just as overwhelming as the process of buying it — but it doesn’t have to be. You can opt to sell your home to Bungalo through a quick, simple and transparent process and pricing structure or follow our tips below if you choose to sell to other buyers.

Either way, we can help you streamline the sale without your house sitting on the market for months on end.

Choose how to sell your home

If you choose to sell your home through the traditional real estate process, your first course of action is to start the process of putting your home on the market so you can sell it. After all, that’s how you’re going to find interested buyers.

To do this, you need to decide which route is right for you to sell your home. For many, the go-to is through a real estate agent. The simplest way to find an agent is to search on the internet and find potential matches that work for you.

This means searching through real estate agents’ sale histories and professional designations to make sure that they have the expertise and skills to list your home and sell it — as efficiently as possible. However, agents do earn a real estate commission, which is usually 5 to 6% of the total sale price.

The real estate agent earns this fee due to their experience and professional network, which allows your home to be shared with more potential buyers than if the agent weren’t helping you sell. Some homeowners choose to save money on those fees by bypassing a real estate agent and selling the home themselves. Selling your home by yourself is known as “for sale by owner,” or FSBO. Opting out of a professional guide, such as an agent, can save you money, but it can also cost you time.

A real estate agent not only shares your home with a wider audience, but they know how to negotiate and close on details that you’ve probably never experienced before. This can help you secure the best offer without worrying that you’re under or overpricing your home.

Neither of those options are perfect, so Bungalo created a new and improved way to sell your home. Our service is designed to streamline the homebuying process, making it quicker and simpler than the traditional methods described above. Through this process, you don’t have to worry about finding the right real estate agent or worry about getting your home ready for market. Not only does Bungalo provide all cash offers, we also only charge a low 3% service fee instead of paying the standard brokerage commission to a listing and buyer’s agent that could total as much as 6% in a traditional real estate transaction. If you’re interested in learning more, check out our how-it-works guide.

If you choose to sell through a real estate agent, follow the below best practices to prepare your home for market:

Prepare your home for the market

It may seem obvious that your house has to be ready to sell when you put it for sale, but many homeowners don’t realize what steps need to be taken to ensure a quick listing through the traditional home selling route.

Although current housing market conditions are out of your control, there are important preparations you can make that will get your home sold sooner rather than later. These include:

Make a checklist and set a timeline

Figure out how long you want to focus on selling your home. The usual process can take between two to four months, according to Bankrate, and that’s without considering external factors, such as market conditions, unanticipated repairs and/or price negotiations.

At this point, you want to give yourself a rough estimate of how long you want to take with each step of the home selling process. This can keep you on track and help you visualize each step of the sale.

However, if you choose to sell to Bungalo, our average process takes about 21 business days — from scheduling to closing! You won’t have to worry about a long timeframe or home selling next steps.

Determine your home’s market value

One of the biggest mistakes a home seller can make is over- or underpricing their home. When you list your home, you want the home price to roughly equal its worth, so it’s a huge plus if you get a pre-sale home inspection.

It may be tempting to charge more, but it’s essential to remember that you also don’t want to lose out on potential buyers or make them suspicious of your home’s listing. When a house is on the market for too long, a buyer is likely to wonder why it’s not selling — they could start thinking that maybe it’s overpriced or has hidden damage or other negative attributes.

Meanwhile, if you invest in a pre-sale home inspection, you’ll have the validation of your home’s worth and also learn of any potential issues that may cause speed bumps during the sale.

Make home upgrades that add value

There are some basic home improvement projects that can make a big impact on your home’s value and appearance — without breaking the bank. You don’t want to commit to a lengthy or expensive renovation project before selling, but you should consider some simpler investments that will attract more interested buyers and increase your curb appeal.

Important reminder: If you sell to Bungalo you don’t have to make renovations — we buy homes as is. Once purchased, our Construction and Design teams assess and renovate each home to ensure the next homeowner will love it for years to come.

If you choose to go through the traditional real estate route, below are some of our recommended projects:

• Landscape your front and back yards
• Apply fresh coats of paint to the interior and/or exterior
• Upgrade your kitchen appliances
• Renovate your bathrooms
• Replace carpeted flooring with wooden flooring
• Get your home professionally cleaned

(For more inspiration on how to increase your curb appeal and improve your home’s value, explore other articles on our blog.)

Once you’ve considered these options, you should then schedule professional photos to be taken of your property. The better the quality of your photos, the more likely buyers will want to come to your open house or inquire about your property.

Collect all required documents to sell your home

Paperwork can be a big headache for those looking to buy or sell a home. However, if you’re working with a real estate agent or using an immersive platform like Bungalo, you won’t be left to figure out the necessary documents alone.

For the basic documents, keep a folder or binder handy with the following, if you have them:

• Deed document
• Any mortgage or financing documents
• Original home appraisal (from when you purchased the home)
• Homeowner’s insurance records
• Original title report
• Pre-listing home inspection
• Appliance and upgrade/addition records

Because each state or city may have its own requirements, it’s also important to check local laws and regulations to ensure you have what you need before you list your home. As you start your home selling journey, you want to have as much prepared as possible beforehand, so as to minimize any chances for issues or problems down the road.

More strategies that can help you sell your house fast

Now that you’ve chosen how you’re going to list your home and what steps you need to take before listing, it’s time to learn the other secret of the home selling process: choosing when to list your home and what price to set it at.

On the one hand, you want to sell your home during a high-demand time, as that increases your chances of interested buyers and adds an incentive to buyers to purchase quickly — before someone else makes an offer on your home. This competitiveness is great for the seller as it will speed up the sale. However, it will also increase the competition between your property and comparable homes on sale in the area. This could mean trouble if your home hasn’t been adequately prepared or presented on the market and it could be overlooked by buyers — this is another great reason to follow our suggested pre-listing tips or better yet, come to Bungalo for a quick, transparent, fair-market offer.

So, when is the best time to sell your home?

Across the U.S., the best time to sell a home is in June and July, per NerdWallet. During these two months, houses typically sell for the highest prices, which is great for home sellers.

Yet it’s important to remember that your local area may not follow the national trends. For areas such as Florida, Texas, Arizona and Southern California, houses may not sell as well during those months, which are prone to extreme weather, such as excessive heat, hurricanes and/or tornadoes.

Your real estate agent, as well as your own regional research, can help guide you to the best season or month to sell in your area.

When is the worst time to sell your home?

In contrast to the summer months, it’s usually not best practice to list your home in winter. NerdWallet specifically highlighted January and February as the months consistently with the lowest selling prices between 2015 to 2019.

Again, this may not apply to certain regions where it’s still possible to sell well in the “colder” months because they are still temperate and enjoyable.

Listing your home during an “off-season” won’t make or break your home sale. But it wouldn’t hurt to put your best foot forward by listing your home during months that are proven to be popular among buyers every single year.

Set a realistic price to attract buyers year-round in a seller’s market

If you want to sell your home sooner rather than later, it may not be practical to wait around for the best-selling month in your area. But you don’t need to panic — you still can get some great offers quickly if you set a realistic and fair price for your home.

Aside from geographical and seasonal selling data, it’s important to check in with the housing market as a whole. Because we’re in a seller’s market, with high demand and fewer listed houses, it’s actually a consistently good time for houses to be put on sale despite the time of year.

Due to this, you definitely shouldn’t underprice your home just to make it sell faster. The market is already competitive, so as long as you set a realistic price, you should be able to attract interested buyers.

To determine the best price, consider factors including:

• Your home’s original appraisal value
• The pre-listing home inspection report
• Listed prices for comparable homes in your neighborhood

This will help you settle on a fair and reasonable price to get your house sold faster.

What you should absolutely do when it comes to selling your home

Even if you want the home selling process to go as quickly as possible, it’s also critical that you follow best practices that will prevent any unnecessary problems that could ultimately slow or restart the process down the road.

To ensure a speedy and successful closing, here are practices you should consider implementing:

• Schedule repairs that will add value to your home. By adding improvements and upgrades, you’ll be able to attract more buyers and increase your chances of negotiating an attractive selling price, without wasting time and effort.
• Increase your curb appeal. Buyers want to purchase homes that they can picture themselves living in. Add flowers, clean your gutters and/or landscape your front yard to make the exterior of the home look as welcoming as possible.
• Use professional photos. Nothing can turn a buyer away faster than a dimly lit or poorly framed photo of a home. For many buyers, this is their first perception of your home and they need to be excited by it. Professional photographers know how to capture spaces accurately and show them in their best light — take advantage of that.
• Prioritize buyers who are preapproved. If you’re looking for serious offers, take time to consider buyers who have been preapproved for a mortgage or other financing options beforehand. This will let you know that they can most likely follow through on their offer, especially compared to buyers who aren’t preapproved.
• Allow potential buyers their own home inspections. If you’ve done a pre-listing home inspection, there shouldn’t be any surprises if the buyer wants to fund an additional one for safety. Any necessary repairs should be fixed before the house is listed anyway.

As real estate experts, Bungalo can help

You can avoid all of the above, from repairs to open houses, if you elect to sell your home to Bungalo, plus you will receive a cash offer and have the opportunity to lease your home back from us for up to one year. If you have been searching for a more flexible, simple and seamless real estate experience, Bungalo is the place for you.

To discover how we’ve turned the standard home selling methods into a modern, easy-to-use platform, explore our website and learn about us here.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

The real estate world is on fire, and homeowners across the country are eager to get their properties listed on this hot housing market — but there’s a catch.

Selling a home can be a lot of work.

There’s plenty to do, from researching the housing market to communicating with every potential buyer. Things can start to feel overwhelming when you go in alone. If you’re hesitant to take that first step because, well, you aren’t exactly sure what it is, don’t worry — everyone needs help navigating the home selling process sometimes.

The good news is that selling your house can be simple and stress-free — once you’ve brushed up on the basics and learned a few tricks. Here’s a look at the ABCs of being a savvy seller, from market research to moving day.

What you should be doing now that you’re selling

So you’ve decided to sell your home. Congratulations — you’re about to embark on a great adventure full of asking price negotiation, chats with the buyer’s agent and, of course, taking advantage of the current seller’s market. However, before you get all those great offers and eventually hand over the keys, there are a few preliminary things you’ll need to do to make sure the home selling process is a success.

Research the market

Roll up your sleeves and grab a notebook — it’s time to do a little homework.

It’s important to understand both local and nationwide housing markets, as buyers take both into consideration when setting their expectations. However, if the market in your own backyard is performing significantly better than in other parts of the country, that doesn’t mean you’ll have to lower your price to meet national averages. It just means you should do more research on the unique trends impacting your area.

Housing markets depend on a lot of variables, including:

• Interest rates
• Supply and demand
• Economic health
• Job opportunities in a specific area
• Local buying habits

Take your time brushing up on each one to fully understand what to expect when putting your house on the market.

Learn about buyers

Before you can know how to tell your home’s story, you need to know who you’re telling it to. The identity of your ideal buyer depends on several factors, including:

• Square footage of your home
• Number of bedrooms
• School district
• Proximity to entertainment options
• Proximity to large companies
• Lot size

According to the National Association of Realtors (NAR), the median age of first-time home buyers is 33, and their median household income is $80,000. If your house is a “starter home” or a perfect fit for young families, this group is likely to be your target audience.

If, however, your home is larger or sits on more property, you’ll likely be catering to repeat buyers. According to the NAR, the median age of repeat buyers is 55, and their median household income is $106,700.

Keep in mind: The association stated that more than half of house-hunters, regardless of age, find their new homes online. That means it’s smart to keep up to date on the latest tricks for getting the right house in front of the right buyer.

Brush up on new selling techniques

The real estate market has a few new players, thanks to modern technology — like, for example, instant buyers or “iBuyers.” The NAR explained that iBuyers provide speed and convenience for sellers who don’t want to wrestle with constantly changing market conditions. For many homeowners, that’s a significant improvement over the old way of doing things, which involved long waiting periods and times when all you wanted to do was tear your hair out.

The traditional home selling process also involves steps like repairs, remodels and a whole lot of hassle. If you’re all about that stress-free life, sell your house to Bungalo instead — you’ll get top dollar by utilizing modern selling techniques, all without lifting a finger.

Know what you’re responsible for

As a seller, you have a list of responsibilities — most of them financial. Here’s what’s on your plate:

• Homeowners insurance: According to Forbes, having homeowners insurance throughout the home selling process protects you from liability — for example, when buyers are touring your home.
• Staging: Staging companies make your house look lived-in — but not too lived in. This helps buyers visualize how they might set up their own furniture, and it makes your rooms look good, too.
• Photography: If you hire third-party real estate photographers — especially if you’re looking to create a 3D tour, a panoramic image or a drone shot of your lot lines — you’ll have to pay them separately.
• Closing costs: Closing costs include mortgage insurance, attorney fees (if required by your state), appraisals, property tax and more.
• Real estate agent fees: As a seller, you’re responsible for the fees paid to your own agent as well as the seller’s. This is usually 6% of the sale price, split between agents.

Does that sound like too much work, too much money or both? If so, selling directly to a platform like Bungalo or partnering with a real estate agent may be a better choice than trying to sell your house alone.

Working with a real estate agent: The pros and cons

Here’s the truth: Although real estate agents can be solid partners, you don’t necessarily need them in every scenario. In fact, buyers can get cash back when purchasing without an agent when using Bungalo.

Before making a decision, read up on the pros and cons of working with a listing agent.

Pros

• You’ll have less work to do.

Real estate agents help you manage the workload as a seller. They organize showings, schedule open houses, write overviews and help market your house to the right buyers. Plus, they help you organize the documents you need — like data on lot lines, property tax information, appraisals and more.

• You’ll have an industry expert on your side.

Unless you live and breathe real estate, the chances are that you’ll have questions about everything from determining market value to making the most money on your property — and real estate agents can help. They’ll also be able to navigate legal situations — like signing paperwork packed with jargon — that might otherwise leave you feeling stuck.

• You won’t have to negotiate with prospective buyers.

If no one’s ever told you that you “drive a hard bargain,” negotiating the price of your home probably isn’t going to be your new favorite pastime. Listing agents act as the go-between for you and prospective buyers, meaning you won’t have to become a master negotiator overnight.

Cons

• They take a percentage of your money.

6% is a hefty chunk of your payday — especially considering that, as a seller, you’re paying your own agent as well as the buyer’s.

• They may not be marketing experts.

If you’re working with a listing agent just so you don’t have to do promotional legwork, be careful — even the sharpest home expert may not be a great marketer. Maybe they don’t know how to generate leads, get your house in front of the right people or put your home’s features on display — but you’re still the one who pays for it.

• They may not be master negotiators, either.

Not all real estate agents aced their speech and debate courses in high school — and, just like you, negotiation may not be their favorite part of the job. If they’re not willing to fight for your money, the buyer’s agent will fight for theirs, and you may not end up with your home’s full value.

• They don’t know everything.

At the end of the day, no one knows your house like you do. You could just as easily research house selling tips yourself, learn what types of renovations drive sales, do a little fixing and decluttering, appeal to buyers and end up putting every dollar right in your pocket. Or if you want to avoid the work without paying someone else to do it, just sell your house to Bungalo: You’ll still get top dollar, and you won’t have to worry about repairs or renovations.

Preparing your home for sale

To get your home ready for the big day, there are some things you should do — and some things you shouldn’t. Here’s how to make sure you’re putting your house on the market in just the right way to attract prospective buyers.

Knowing when to sell

Although markets vary depending on the local economic climate, spring is usually the best time to sell a house. Prospective buyers think of it this way: The weather is perfect for touring an open house, there’s no snow to drag moving boxes through and the kids will be out of school soon.

With this in mind, it’s easier to plan accordingly — for example, making sure all your projects are done before the end of April.

Renovating and repairing

Speaking of projects, exactly how many should you be doing before you sell your home?

Well, that depends. If you’re selling your house as-is, you’re telling buyers that you didn’t make big pre-sale repairs and that you’re offering no guarantees. This also means that they can’t hold you responsible for anything that goes wrong with the property — for example, the HVAC system failing as soon as they walk in the door. Because as-is houses tend to sell for cheaper, you’re more likely to attract cash buyers this way.

If, however, you want top dollar for your home, you should do any repairs or renovations that will help your property perform well on the market and pass a home inspection with flying colors. That includes things like boosting curb appeal, removing popcorn ceilings, scrubbing mold out of bathrooms or laundry rooms, replacing carpet (or having it professionally cleaned) and, according to HGTV, paying attention to the little things — like giving your front door a fresh coat of paint.

Don’t try to fix everything, though. You can leave certain things — like a water heater that’s not brand-new or a driveway that has a few cracks — for future owners to fix when they see fit. Plus, in a hot real estate market, buyers are more likely to shrug off a few minor flaws to get their hands on a property.

Putting your best foot forward

When selling your house, there are times it needs to get all dressed up: during real estate photo shoots, before an open house and especially before prospective buyers tour the property.

Here are a few tips to help your house put its best foot forward.

• Clean and declutter: A messy house suggests to buyers that your floor plan doesn’t have enough storage. Clutter also makes it more difficult for house-hunters to see past your stuff and imagine their own in the space — so pull out those storage totes and get to work.
• Take good photos: You probably won’t be behind the camera, but it still pays to make sure your real estate photographs show off your house’s best features. That means no blurry pictures, bad angles or poor lighting — and it also means you should consider temporarily moving furniture to make spaces look larger.
• Get rid of personal stuff: Wedding photos, dog toys or your kid’s soccer trophy can distract buyers from what your house has to offer. Get rid of your personal touches to help prospective buyers see your home as a blank slate.

Why sellers are also buyers

Unless you plan to live in a treehouse on a remote island — and who wouldn’t want a permanent vacation? — selling your home means you’ll need to buy another one. That, in turn, means you can’t just think like a seller — you have to think like a buyer, too.

As you work your way through the selling process, keep these things in mind:

• You’ll have closing costs on two different houses.

Remember that the costs of selling a house include upfront fees, like staging or repairs, as well as closing costs that come later in the game. All of this can quickly add up — and when you’re selling one house and buying another, every dollar counts. Make sure to take all the steps necessary to save money where you can.

• You need to time things just right.

It’s possible to sell a vacant home if you end up moving into your new place before closing on your old one. However, keep in mind that you’ll still need to facilitate things like a home inspection, and you may need different homeowners insurance to cover a vacant property.

Also consider that, to make the transition as smooth as possible, you’ll likely want to be buying and selling at the same time. That means you shouldn’t start any long-term repairs right before the moving process — otherwise, the sale of your home will be held up, which may make the sellers of your new home worry that you won’t be able to secure funds.

• You want to make sure your new home is move-in ready.

If working with buyers slows down your selling process, your moving schedule could be delayed — which means you might not be able to get into your new property and start making repairs right away. Instead, look for Bungalo certified homes — they come with guarantees and warranties that mean you won’t have to worry about making repairs on the new place.

Sell your house with Bungalo

Giving your house the sendoff it deserves can be a lot of work — but it doesn’t have to be. Skip the real estate agents, photography, staging and repairs, and sell your house to Bungalo instead. You’ll save money on closing costs and you won’t have to worry about timing things just right to get into your new place.

Don’t let your old house stand in the way of finding a new one. Start working with Bungalo today.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

We all know what happens when it’s time to sell your house — you tidy things up then hire a realtor to take care of the rest. But not everyone is convinced of the benefits of using a realtor, and some choose to sell their homes themselves.

Selling a home for sale by owner (FSBO) can have some serious advantages. It can save you money that you otherwise would have spent on the realtor, it gives you greater control over the entire process and it can help you streamline everything from beginning to end.

But it’s difficult to know where to start. We help break down everything you need to know about selling your house without a realtor, from the pros and cons to the steps you’ll need to take to complete the process. Keep reading to learn more.

Should you sell your home without a realtor?

The main con of selling a home without a realtor is that you miss out on the professional expertise real estate agents can provide to get you the best value on your home. But if you do it right, there can be so many benefits to FSBO home sales.

You don’t have to do it alone. At Bungalo®, we’re completely transforming the way people buy and sell homes. Our online home marketplace makes the home-selling process simpler and more straightforward, making it easier than ever before to sell your home without a real estate professional.

You can save money

Put simply, if you don’t have to pay for a real estate agent, you’ll save money on your home sale. This is one of the top reasons homeowners choose to sell their homes without an agent, and it can really pay off if you do it right. According to Bankrate, real estate commission typically ranges from 5-6% of the final sales price of the home, and that can really add up if your home sells for a lot.

If you sell a home for $200,000 using a real estate agent that charges 5% commission, you will end up paying the realtor $10,000. That’s a hefty chunk of cash!

You have more control

Another great benefit to selling your home FSBO is that you’re in complete control of the entire process. That means you get to market it how you want at the price you want, and you’re in charge of negotiating with potential buyers. For those who know their stuff, that can be a real advantage. There won’t be any conflicting opinions between different stakeholders, and you ultimately get the comfort of knowing that the sale was completely yours.

It saves you time

One of the great benefits of FSBO home sales is that the entire process tends to be much faster than going through a realtor. That’s partly because real estate agents usually have a large portfolio consisting of numerous buyers and sellers, so their attention is split across different individuals. When you do it yourself, you can devote as much time as you want to the process, meaning it’s all streamlined, and you can get in front of buyers much faster. Data from the National Association of Realtors showed that 58% of FSBO homes sold in under 2 weeks in 2019.

Another reason that the process is so much more efficient is that homesellers tend to rely on people they already know. They don’t have to spend time building trust and rapport with potential buyers as one would when selling to someone they don’t know, and that can shave off several weeks from the whole process.

What do you need to know about selling a home?

If you’re ready to sell your home, and you’re convinced FSBO is the way to go, it’s tempting to start taking pictures and posting them to your favorite listing site. But before you do that, you need to have a few key documents together before you can formally sell the property. Others, you’ll need to show potential buyers before you even make the sale.

Here are some of the most common:

• Seller’s disclosure form: This one’s important. This is where you list and detail all the potential problems with the house, so the prospective buyer knows exactly what they’re getting. It helps protect the buyer from purchasing anything with unknown problems, but it can also protect you from lawsuits down the road.

• Loan documents: These detail all mortgage information on your home, including first and second mortgages as well as any additional lines of credit you took out on your home’s equity. These are important because they show potential buyers how much interest other parties have in the property.

• Latest bill statements: No one likes paying bills. And they especially don’t like paying expensive ones. Potential buyers will expect to see your most recent utilities bills, including electricity, gas and water, to get a sense for how much they’ll need to pay every month. Property tax statements should also be included here.

• Plans and permits: If you made any changes to your property that required you to get a permit from your local or state building authorities, you’ll need to have these documents handy. Permits prove that all improvements made were safe and compliant, and this can save new owners headaches down the road.

• Sales contract: You’ll need this one to formally close the house sale and prove that it actually happened the way you and the buyer agreed. This is a legal document that shows the amount you and the buyer agreed upon, the date of the real estate transaction, and, of course, confirmation that you handed over the deed — and ownership — of the home.

• Deed: Your home’s deed is the document that shows who owns the home. Requirements vary by state, but deeds typically contain detailed information about the property, and always show who currently owns and who used to own it. The deed goes into the public record, so it’s a crucial part of the home-selling process. Deeds often get confused with the title, which refers to the legal right of an individual to own a piece of property.

• Inspection report: Make sure everything in your home is inspected from top to bottom so that buyers feel comfortable knowing their home won’t come with any nasty surprises. Every home on Bungalo’s website is certified to the highest standards. In fact, we’re so confident in the homes we list on our website, we’ll cover any issues that arise for 90 days after your close.

Of course, these are far from the only ones you’ll need. Others include:

• Personal identification information
• Homeowners insurance records
• Title reports
• Property survey
• Homeowners’ association documents

How will you deal with potential buyers?

When dealing with potential buyers, the biggest headaches are going to come from negotiating the sale price of your home. Prepare to hold your own, but also be ready to be flexible — it’s a tough balance to strike, but we trust you! These are some of the things you should know when dealing with potential buyers:

The factors that affect the sale price of your home

You might think that the most important factor when it comes to selling (and pricing) your property is how lovely your home looks inside and out. While that’s certainly a key part of it, there are several others, too.

• Comps: Your buyers are going to have their eye on all the most recent transactions of homes similar to yours in the neighborhood. It’s important for you to know this information too, because your home’s value is going to be highly dependent on these selling prices.

• Location: You know what they say, so we won’t repeat it. (OK — location, location, location!) But seriously, where your home is located matters. A lot. And that’s going to have a serious effect on its market value. If it’s near some good schools, quality entertainment and places of employment, you can ask for a lot more.

• Size: Size doesn’t always matter, but in this case it does. Simply put, the bigger the home the more you can do with it, so buyers are willing to pay more for that extra square footage. If your house is on the bigger end, expect its value to go up.

• Upgrades: What also matters is how much work you’ve put into it yourself. If you’ve added a swimming pool, built a patio or finished your basement, give yourself a pat on the back. You’ve made your home that much more valuable, which means you can up the selling price.

Can you sell your home for less than market value?

Of course! You can sell your home for whatever price you and your buyer agree to, and that could be more or less than its market value. It might sound ridiculous, but sometimes selling your home for less than market value is the right move. Maybe you’re looking to make a quick move and are willing to fork over a few extra thousand to get out faster. A lower price will attract more buyers, especially those looking to get the most bang for their buck.

Sometimes you have no choice. Maybe the housing market’s really bad, and you just know you’re never going to get anyone to pay what you initially paid for it. The best strategy here is to wait a few years and put your home back on the market when housing prices are back up. If you can’t wait, then it might make more sense to sell it now and stomach the losses.

Whatever your reason, it’s important to keep in mind that you still owe your mortgage provider any liens still attached to the house. A lien is the amount of interest a mortgage provider has in your home, which is determined by the amount you still owe on the original loan. Selling your home below its market value can make it harder for you to cover any liens (and might force you to look elsewhere for finances), so make sure this is definitely the right move for you first.

What will the sales process look like?

OK, you’ve weighed the pros and cons and decided that an FSBO home sale is the move for you. Great. Now what? Follow these steps to know exactly what you need to do once you’re ready to put your house on the real estate market.

1. Prepare your home: You’re trying to impress potential buyers on the value of your home, so make sure you’re presenting your home in its best state. That means decluttering every room from top to bottom, making any necessary repairs, and doing any upkeep landscaping or painting to boost its curb appeal.

2. Set your asking price: This will require some due diligence on your part. Do some research into the market and figure out what other sellers are listing similar homes for. There are a few websites and platforms out there that can help you. Something to keep in mind: Don’t try to oversell your home. The longer your home spends on the market the less likely you are to get your asking price, so keep it reasonable.

3. Market your home: Then it’s time to take your home to the buyers. Capture as many high-quality photos as you can and find a trusted online listing site that gets a lot of good traffic to post your home. But not all listing sites are the same. Bungalo’s platform lets you do everything online, from browsing to touring to closing, helping you cut out the middleman entirely.

4. Negotiate: This is probably the most difficult part of the entire process, so it might be useful to brush up on some good negotiation tactics before you get down to business. You may want the potential buyer to make the first offer, which could pay off if it’s even better than what you would’ve offered. You might also consider encouraging a bidding war between multiple buyers. That could raise the final sales price much higher than you ever anticipated.

5. Close: Once you’ve reached a verbal agreement with a buyer, give yourself a pat on the back for a job well done. But the sale doesn’t end there. You still need to handle a series of important legal documents to actually finalize the house sale. These include your closing disclosure, the deed to the house, statement of closing costs and certificate of title.

It can seem like you don’t have the skills or the knowledge it takes to sell your home FSBO. That stuff’s for realtors. But with the right preparation and planning, you can reap all the benefits that come with selling your home without a real estate agent. Just know what documents you need to have on hand, understand what factors affect your home’s selling price, and get a feel for the sales process, and you’ll be selling your home like a pro in no time.

Bungalo can be by your side in all this. We help make the process hassle-free by letting you sell your house without the repairs, tours, and showings that usually come with selling a home. Check out our blog for our latest home-selling insights, and take a look at our website to get started.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

Getting into the home buying market is exciting. Selling your current home? Not so much. The only thing more important than making the whole process quick and painless is likely getting top dollar on the market.

If you can combine those two goals, discovering how to sell a house fast without losing out on potential value, you’re doing well.

There are a few different ways to approach the home sale process, and some tips to follow while carrying out your chosen selling strategy. Every home is different, and so is every sale. Finding the exact right buyer and sale channel for you is a unique journey, and one worth taking.

Why would you think about selling quickly?

There are plenty of reasons to sell your house quickly. After all, you don’t want it to sell slowly. Stretching out the sale process can be a burden on your peace of mind as you deal with the pressures of having a house on the market. A quick sale takes you away from the uncertainty.

Of course, there are more specific reasons why you might want to sell the house in a hurry, such as:

• You’ve already taken a job in another city and are ready to relocate: If you have a date set to move to a new city, state or even country, you don’t want to have a house still for sale, complicating your financial picture and demanding attention. When it’s time to go, it’s really time to go. Of course, this can lead to you putting the house on the market at a suboptimal time of the year, when it’s a buyer’s market. You’ll have to be tactical to get maximum value for the home.
• You have a quick path to a new home: Even if you’re not leaving your state or city, there’s every chance that you’ll want the stability and surety that come from receiving an offer on your old house. If you know your asking price has been met, you can be much more certain about what size, type and location of new home you can afford.
•  Life circumstances have made a quick sale important: Not every home sale comes about because of a straightforward desire to move. If you’re dealing with unpredictable circumstances — for instance, being willed a house by a relative — it may be far simpler to sell fast rather than dealing with the property for a long time.

Of course, the flip side of selling quickly is that you want to receive good value for the house. In the years following your home sale, you may be struck with regrets if the process didn’t lead to a fair price.

What are some of the basics of a quick sale?

So, how can you balance your desire for a fast sale with the importance of getting a fair price for the property? It is possible to “have it all” if you approach the sale carefully.

You have access to a few strategic tools here. For instance, you can pursue an alternative selling approach, rather than accepting an offer from a buyer applying for a standard mortgage loan. This might mean a sale to a cash buyer or iBuyer, or if your financial situation has become difficult, a short sale. You can also put care into the way you market the house, steering clear of red flags for potential buyers.

Of course, these tactics aren’t mutually exclusive. If you’re angling for an alternative sale, it can still pay to use the same kinds of tactics that boost a house’s appeal on the general market.

Selling to a cash buyer

When you accept a cash offer, the process is a lot like a standard sale, but the financing is different. Rather than waiting for the seller to finalize mortgage approval, you simply accept the offer. The buyer then transfers you the agreed-upon asking price, which you then use a portion of to pay off your existing home loan balance, with the rest becoming your funds.

There are a few advantages to making a cash sale — for example, this sale process is often a few weeks quicker than a standard sale involving a mortgage. The buyer may also skip other steps of the process. Since the intent of a cash buyer may be to resell the house instead of living in it, the buyer might not make you deal with a detailed home inspection or appraisal.

The lack of a lender means the sale hinges on whether the cash buyer does indeed have the funds to buy the house. As long as the fund verification goes well, however, you’re in line for a relatively quick and painless closing process.

The strengths of the cash option include its speed and relative simplicity. As for the weaknesses? You can’t necessarily summon a cash buyer merely by wishing for one. You still have to find a potential buyer interested in making the purchase, and one who is willing to meet your asking price.

In a seller’s market, you may have no shortage of people lining up to make strong offers. Both you and the buyer may be wishing for a quick resolution in this case, which is a perfect match. In a buyer’s market, however? The offers may disappoint. This means timing is critical when it comes to hoping for a cash sale.

iBuying with Bungalo®: An exciting cash sale option

When it comes to cash sales, there is an alternative to this alternative method: You can investigate an iBuyer, a digital seller that works without some of the traditional hallmarks of the open market.

While selling with a real estate agent may be normal for the more standard house sales, going with a modern option is a way to cut out the agent fees without losing out on an assured, high-quality selling experience. An iBuyer can give you the direct sale process you’re looking for.

Of course, not every one of these iBuyers is going to offer you equal terms on the sale or closing costs. For instance, Bungalo’s service fees are set at 3%, while others in the market tend to charge 5-12% and may ask sellers to have repairs done before they finalize the deal.

What makes a sale via Bungalo so streamlined compared to a normal sale? The way offers are formulated is one important consideration. Instead of haggling or making a lowball offer like an individual buyer might, Bungalo simply creates a fair cash offer based on the prices of other houses in your neighborhood.

On top of that simplified approach to pricing, Bungalo dispenses with the presentation elements of selling a home. You don’t have to clean the house and stage it for potential buyers, because there is no open house and only a single party making the purchase. The selling process is mostly carried out remotely, so you can stay safe at home while the cash sale is going on.

There is even the option to stay in the house through the leaseback program, which is unique from other iBuyers. Even after making the sale, you can lease the right to remain in the home for up to a year while you conduct your own home search. This can keep the fast sale from becoming too fast and leaving you between houses.

Selling via a short sale

A short sale isn’t something you actively pursue. This kind of sale is the result of financial pressure, with the value of the home declining lower than the remaining value of the mortgage.

While a short sale isn’t a good thing from a financial standpoint, it is an alternative to suffering a foreclosure, along with all the ongoing repercussions of having the bank foreclose on the property.

The general theme of a short sale is mitigating and minimizing losses. The lender is not gaining maximum value from the sale and you, as the seller, are leaving without positive value from the sale. The deal also presents some complexities for the buyer, who will have to deal with extra-legal requirements compared to a basic mortgage loan sale.

There’s yet another complication — a short sale will take a very variable amount of time-based on the negotiations between the lender and the buyer. This means that a short sale might also be a quick sale, but you can’t count on that. There are a lot of moving parts in a legal sense, so it may actually take longer than an average transaction.

The bottom line with a short sale is that it may be something you have to do. In times when property values are falling in your area and your loan has become unmanageable, there’s little option about the matter. A short sale may be the only way to walk away without a devastated credit score.

With that said, short selling is not the kind of process you can use tactically. It is something to only be undertaken in specific and demanding circumstances.

Preparing your home to facilitate a quick sale

The amount and type of preparation you’ll have to do to get your house ready for sale depends heavily on what type of method you’re considering. Directly seeking out a cash offer by an iBuyer or a similar path is different from the conventional way of selling a house, for instance.

Going for the conventional quick sale

If you just want to put the house on the market and hope it will sell as quickly as possible, there are a few specific tactics you can use to make sure the house has maximum curb appeal and is welcoming to potential buyers.

• Quick repairs and renovations: When you’re setting out to make your home as immediately appealing to buyers as possible, a little work can go a long way. Of course, engaging in a lengthy renovation would defeat the purpose of a fast sale, but small painting projects and work on tiling, doors and more can give your potential buyers a great first impression.
• Staging for tours and open houses: When your house has been staged for potential buyers, that means it has been tidied, organized and made less personal. With fewer traces of your personal preferences, homebuyers will be able to project their own goals for the house onto the space. This can lead to a quick conventional home sale.
• Don’t skimp the listing photos: A huge portion of the home buying process involves potential buyers clicking through photos of homes for sale. If the pictures of your house look better than the rest, you’ve received a major boost before any homebuyers have set foot on the property. The extra cost of hiring a professional photographer can pay off in a quick sale.

On top of the little tasks around the house, there’s a major sticking point: your asking price. This will be determined by a wide variety of factors, including the area and the overall conditions of the housing market. There’s no question, however, that it can help you make a conventional home sale faster.

If you hold out and insist on a high asking price, that may add some time to the sale process, especially in a buyer’s market. It’s clear and understandable that when people see a bargain, they’ll be more inclined to move quickly and more able to make a cash offer. The question then becomes how low you’re willing to go in the name of accelerating the sale.

The alternative: Preparing for cash sale via Bungalo

Making a quick home sale by conventional means involves preparing the property in a number of ways and then hoping for the best. While this works out in some cases, especially when the real estate market is seller-friendly, it’s understandable if you want to find a clearer, more straightforward alternative.

Selling through Bungalo can be the alternate route you’re looking for. Nearly every component of the sale process changes when you sell through Bungalo instead of putting the house on the market, and these differences often favor a fast sale. You can see this by taking it point by point:

• Repairs: It’s not necessary to fix the issues with your house. If there’s a high-level need that requires addressing, it will be reflected in the offer. The onus isn’t on you as the homeowner to go through the time-consuming process of repairing the house. Many other iBuyers can’t make this same offer.
• Staging and photos: There are no open houses or home tours, and you don’t have to put together an online listing for potential homebuyers to browse. That means the process of staging your house and having it professionally photographed isn’t necessary. You can simply proceed with the sale, get your offer and decide whether to take it.
• The price: Setting your asking price and trying to gauge the market’s appetite for your house is one of the inescapable complications of a conventional home sale. With Bungalo, you escape the inescapable. You simply look at the offer price and decide whether this is the right amount for you. Since it’s based on real data regarding your area, the number is designed to be fair.

Offers don’t come with an obligation to sell, so you can request yours and see whether this is the path you’d like to take for a quick sale.

Whatever choice you end up making, it’s an exciting time — making a move and finding a new home are big events, and selling your previous house is an essential part of making the transition possible.

Of course, a quick sale deserves a quick purchase. When you’re seeking to speed up your house search, you can go for a streamlined and modernized take on homebuying, as well. In other words, Bungalo may be a great option for you as a buyer, too.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

Walking the home of your dreams for the first time or searching through e-listings is an exciting rite of passage when on the hunt for real estate but as the seller, that means preparing for photoshoots and repeated last-minute tours. Over the years, the average home buyer pays an in-person or e-visit to multiple homes before making a formal offer. That number has changed in light of the pandemic — properties stayed on the market for an average of only 17 days in May, according to the National Association of Realtors.

While open houses and private tours may not sound that bad, they can actually be incredibly inconvenient, not to mention time-consuming. Those who go the traditional route should brace for a bumpy ride. 

Preparing your space takes work

Before a tour, it’s usually expected that you will clean your home and make it presentable. Sounds simple, right? Unfortunately, this requires much more work than your average tidying effort. Things need to be immaculate. To properly set up your home so it’s truly open house or tour worthy, you should:

● Clean all surfaces, paying special attention to countertops, appliances, windows, and floors

● Declutter. Remove all tchotchkes, children’s toys, and personal items to give the space a minimalist feel

● Take away extra furniture and only leave the essentials, such as a sofa, bed, and dining room table

● Let in natural light and turn on overhead lights

● Create a clear walking path throughout the home; you don’t want it to feel cramped

That’s just the beginning. If you want to go above and beyond these preparations, The Balance recommends:

● Removing vehicles from your driveway to make space for buyers

● Serving refreshments and snacks

● Playing soft music to create ambiance

● Displaying photos of your home in different seasons

No one has the time or patience to do this when each tour is scheduled. Between work, taking care of the kids, and running after pets, it’s just not feasible. While it’s possible to hire companies to help, this added expense may not fit into your budget.

Disruptions are a common occurrence

On the topic of your routine, there’s nothing routine about open houses and tours, particularly when it comes to when they’re scheduled. Those birthday decorations you spent so much time putting up may need to be tucked away for an open house the next day.

With your home on the market, you may be surprised by how many tours are scheduled over the weekend. While this may be convenient for the buyer who has the day off, it means you need to pack up your family for the day and leave your home spotless for the visitors … often for hours at a time. This may be fun for a few weekends, but the novelty factor wears out quickly.

Having strangers in your home isn’t ideal

Finally, we can’t end this list without mentioning the fact that during tours and open houses, you’re welcoming strangers into your space. On tours, potential buyers are usually accompanied by their agents. While you may never meet with them directly, it can leave you feeling uneasy knowing people you don’t know have walked through your space.

On the other hand, during an open house, you may be involved in the selling process. As you stand by ready to answer any questions and market your space, it can be equally uncomfortable to come face to face with people you don’t know, especially during these times.

Imagine having the peace of mind that your home could be sold without all of this trouble. Or make it a reality by going through Bungalo.

Choose Bungalo

Are you ready to sell your home fast without inconvenient home tours? You can trust Bungalo to buy your home for cash within two weeks — quicker than what it takes just to get your property prepared for an open house.

We understand that life is full of surprises, many of them unpleasant; that’s why we make it easy to sell your home quickly so the only surprises you get from us are the ones that put a smile on your face. In a couple of weeks, you can have the cash in hand for whatever you need without the hassle of making your home pristine for potential buyers. Close the door on open houses by going through Bungalo. 

Contact us today to learn more.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

You found the home of your dreams and you can’t wait to move, but there’s still a major obstacle to overcome before you can start packing your boxes: selling your current property.

From first listing your house to signing the dotted line on the final closing agreements, there are several considerations to juggle before you can move on to your next home. Does your current house need some upgrades before it’s ready to sell? What should the sales price be? Will you need to work with a realtor?

If you don’t have the answer to these questions just yet, don’t worry. By understanding what you can do to minimize expenses and maximize your returns, you can get the most out of your property investment.

Preparing your home for sale

Let’s start off with the question everybody’s thinking: How much does it really cost to sell a home?

First, the short answer: Experts say homeowners should expect to pay approximately 8-10% of the selling price. While this estimate covers some common expenses, including small repairs and potential agent commissions, it overlooks some of the hidden fees you may incur before you close the deal.

Now, let’s get into the longer answer and how you can maximize the returns on your property.

Home renovations and home repairs

One common misconception is that your home will need to undergo a major renovation to sell. Here’s the good news: You can stop adding to your DIY Pinterest board filled with shiplap and modern farmhouse-inspired spaces.

While kitchen and bathroom upgrades can increase the value of your home, you likely won’t see a full return on how much you’ve put into the project. Instead, take the time to check out comparable listings near your neighborhood and see what you may need to do to compete in the market.

As U.S. News & World Report explained, homebuyers today expect move-in ready conditions and want to see a blank slate that helps them imagine themselves living in your home. Rather than pouring your resources into a major renovation, you might just need to update some appliances, paint walls with more neutral shades and replace the old carpeting.

Replacing your appliances can cost anywhere from $250 to over $3,000 for each — depending on the model you go for — so it’s important to prioritize older spaces or major focal points in your home, such as the kitchen. However, with some DIY handy work, you can cut costs on projects like repainting.

Before you sell your home, you’ll also need to tackle any major repairs, such as cracks in your foundation or an aging roof. Although these won’t be the most budget-friendly fixes, it will pay off to handle them now rather than waiting to fail your home inspection.

If you’re more than happy leaving DIY projects up to the designers on HGTV, you may want to consider selling with Bungalo. This allows you to skip the costly repairs and move on to your next home or property investment — no sweat equity required.

Landscaping dos and don’ts

Curb appeal is an important consideration, but you won’t need to go crazy with brand new greenery.

Similar to major indoor renovations, any big projects you do in your yard right before selling won’t help you to recoup the costs of closing. Instead, take a look around your yard and focus on fixing up what’s already there. That may include raking up stray leaves, cleaning your garden beds, trimming back unwieldy bushes, or adding some new mulch.

Just a day’s worth of hard work can pay off immensely, and depending on what your yard needs, it could be entirely free.

Staging your home

The national average for staging a home comes in at just over $3,500. While this includes furniture and decoration rental, full furniture rentals can cost significantly more for extended periods.

Professional stagers will arrange decor to highlight your home’s strengths and downplay its weaknesses. This may include using lighting and mirrors to create the illusion of more space or building the walkthrough around the most impressive room in your home. However, you don’t always need to work with a professional to make a great first impression.

Some helpful tips for creating a space that any potential buyer would love to live in include:

• Keep it clean: Cutting back on clutter and giving your home a thorough cleaning can make all the difference. If you have spare paint collecting dust in the basement, now’s the time to use it to refresh your cabinets or give your walls a new look.
• Play up your strengths: Thegoal is to highlight the best features your home has to offer. For example, if you have a pantry or closets with a ton of space, remove any large items to help buyers better see the value.
• Add a little personality: While it’s certainly true that potential buyers are interested in seeing a neutral space, that doesn’t mean you have to stick with an all-beige or equally neutral color palette. Play around with the decor you already own to create an eye-catching and on-trend space.

And, when in doubt, a fresh batch of cookies and a few candles can always help.

Negotiations and real estate agents

Real estate commissions — what you pay an agent to sell your home — are one of the largest expenses in the home-selling process.

When you’re working with real estate agents, typically the seller’s agent and the buyer’s agent will split a commission fee of about 5-6% of the purchase price of the home at the close of escrow, according to Forbes.

Remember these rates are often set on a case-by-case basis. When you first list your home with an agent, they’ll work with you to negotiate their commission fee. Keep in mind that while this fee eventually goes toward both agents’ paychecks, part of that percentage will also cover supplemental fees such as marketing and paperwork costs.

If you’re more comfortable working with a listing agent, interview several in the area to find the one that best fits your needs and budget. It’s important to remember that going with the one with the lowest commission rate won’t always be the best option. Instead, look for agents who are experienced in your local market and have a clear understanding of your goals.

One way many homeowners try to avoid realtor fees is by listing their home as for-sale-by-owner (FSBO). If you venture down this path, remember that you’ll need to serve as both the homeowner and the real estate agent, showing your home to prospective buyers, working through negotiations, and managing the legal process, including the transfer of title and final contract.

If you’re looking to skip agent fees as well as the time and effort that selling on your own requires, you can also sell directly to Bungalo. With a cash offer based on your home, its condition, and local market data, there’s no uncertainty surrounding whether you’re getting a great deal —  just money in your pocket.

Closing the deal

Congratulations! You’ve sold your home and it’s time to pack up for your next adventure.

Well, it’s almost time. There are still a few important considerations before you truly seal the deal. First and foremost, the mortgage on your current home.

Most loan terms can last for 30 years, and few homeowners stay in their houses for that long. While you can move before completely paying off your debt, there are some steps you’ll need to take in advance.

Once you decide to sell your home, check in with your lender and confirm your outstanding balance. By knowing that amount, you can ensure that the final sale price will help you pay off your loan. Go over your mortgage paperwork as well, since you’ll need to keep an eye out for due-on-sale clauses that require you to pay your loan in full after selling your home or transferring the deed.

In addition to your mortgage payment and your agent’s commission fees, there are several other expenses associated with a seller’s closing costs. As you create your budget and set your listing price, be sure to consider factors such as:

• Hiring professionals: Will you be working with professional movers? Hiring movers costs about $1,500 on average, including a rate of $25 to $50 per hour for each professional, as reported by HomeAdvisor.
• Relocation costs: The other side of moving is determining what your expenses will look like in your new home. This can include any additional furniture you need, property taxes and monthly utility costs.
• Moving materials: If you decide to manage the moving process on your own or with the help of family and friends, there are still some additional fees. These costs may include boxes and packing materials, renting a moving van and any temporary storage unit fees.

With all of this in mind, a home seller should expect to pay a total closing cost of about 6-10% of the sale price according to Nerdwallet.

Why sell directly to Bungalo?

If all of this has turned you away from selling your home, we get it. The traditional sales process is confusing. Sellers end up having to pick up several additional expenses, juggling endless challenges before they can finally move on to their next home.

That’s why we created Bungalo to help you sell your house and move into your next home as quickly as possible.

We’re here to make every step of your experience as smooth and straightforward as it should be, providing an easy, technology-enabled platform to guide you through the sales process. As you close on your current property, you can also browse our certified homes and tour any that you like. And, with the option to finance with the lender of your choice, you can move forward with confidence that your next home will be your dream home.

With Bungalo, there’s no cleaning, staging, or open houses for you to manage. Our easy and mostly remote process means that you can focus on your next home or property investment — minus the DIY projects or costly repairs.

Keep more of what’s yours and avoid unnecessary expenses by selling your home to Bungalo.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.