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The first thing to do when selling a house is to collect information and not rush to make important decisions. Why? Because, thanks to seller-friendly home sale innovations, you may have better options than the traditional, expensive way of selling your home with an agent.

 

Important things to research and consider:

 

- **Does it make sense to list with an agent or list [for sale by owner](https://www.offermarket.us/real-estate-glossary/fsbo)?** Are you willing to give a zero commission, low cost home sale platform like OfferMarket a shot?
- **What is the state of your local market?** How much inventory is there, what have similar homes sold for recently? (see [comps](https://www.offermarket.us/real-estate-glossary/comps))
- **What net proceeds are you looking to receive from your sale?** After all of your costs and loan payoff, what amount do you think is feasible? How much with a zero commission home sale contribute to your net proceeds?
- **How much is is going to cost to sell a house the traditional way with a broker or agent?** This includes 5-6% commissions, closing costs, repairs, staging, concessions, etc.

 

Our mission is to empower everyone to sell their house without agents or commissions. Let us know if you have any questions!

The first thing to do when selling a house is to collect information and not rush to make important decisions. There's more to learn at OfferMarket.

What is the first thing to do when selling a house?

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What is the first thing to do when selling a house? - OfferMarket FAQs

It's tempting to "invest" a lot of money fixing up your house but the data shows that doing so is usually not the best financial decision.

 

Nearly every study published on the U.S. housing industry reveals that most home repairs and renovations deliver negative return on investment. This means that for every $1 you spend fixing up your house, you should not be surprised to see the value of your home increase by less than $1.

 

While there are some repairs that are important in order to avoid the buyer backing out, and other repairs that can provide a positive return if your cost of labor and material is significantly lower than other "retail" home sellers, we believe selling your house AS IS is the smart way to sell.

 

For more on this, we encourage you to read our guide [Selling A House AS IS](https://www.offermarket.us/guides/selling-a-house-as-is), for our list of the most cost effective ways to increase your home's value before you sell. Hint: it's things like landscaping, deep clean, and professional photographs which we provide for free when you use our Get Offers service.

It's tempting to spend a lot of money on your house before you sell. This is not necessary the best financial decision. There's more to learn at OfferMarket.

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Should I sell my house as is or fix it up? - OfferMarket FAQs

Should I sell my house as is or fix it up?

Small houses are not necessarily hard to sell, though it depends on a few factors:

 

## Is it priced to sell?

 

The #1 home selling mistake we see is when a home is not priced appropriately. Listing too high will result in many would-be-buyers not even inquiring. Many will wait for possible price drops or keep looking at other options. What's more, many buyers have firm maximum price limits and won't even consider or be altered to your listing. 

 

To sell your house fast, you need to price it at an attractive point to draw in as many buyers as possible. This means carefully analyzing [comps](https://www.offermarket.us/real-estate-glossary/comps).

 

## How small are we talking?

 

In your local there are likely many people looking for houses for sale with 1 to 2 bedrooms and 1 bathroom. But if we're talking about a tiny house (100 to 400 square feet), then the market of prospective home buyers is probably also tiny.

 

### How unique is the house?

 

If your house is designed in a manner that very few people find appealing, then you would need to reduce your asking price in order to sell in a timely manner.

Are small houses hard to sell? Not necessarily, it depends on a few factors. There's more to learn at OfferMarket. 

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Are small houses hard to sell? - OfferMarket

Are small houses hard to sell?

If you're reading this article, asking yourself *should I sell my house?*, we hope you know that whatever the reason for selling may be, you are not alone, and you have options. We are here to help you make the best decision and - if you do decide to sell - get the highest net proceeds for your house.

 

We believe that owning residential real estate is a powerful tool for long term wealth creation and - in an ideal world - you would never need to sell your house. In reality, however, owning and holding on to real estate is not always the right decision.

 

The most important thing is to make the best decision for yourself and your family. If after thinking through the ideas in this article, you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell.

> If you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell, with the lowest level of stress.

 

## Things to consider:

 

## Why are you considering selling your house?

 

Understanding why you are thinking about selling your house is the foundation upon which a sound decision can be made.

 

The most common reasons people decide to sell:

 

- Financial issues
- Moving out-of-state
- Upgrading, need money for a down payment
- Health issues
- Don't want to deal with managing a rental property
- Inherited and would prefer the cash
- Retirement
- Downsizing

 

### Where are you at in life?

 

If you're approaching retirement age:

 

- are you looking to upgrade, downgrade or move to a warmer climate?
- would living in a single level home be more comfortable than climbing stairs?
- do you plan on traveling for long periods of time and not want to be stressed about maintaining and carrying a vacant property?

 

If you answered yes to any of these questions, then selling your home for the best possible net proceeds makes good sense.

 

## How much [equity](https://offermarket.us/real-estate-glossary/equity) do you have in your house?

 

Your [equity](https://offermarket.us/real-estate-glossary/equity) is the value of your house minus the loan you have on your house. If your house is worth $100,000 and you owe $50,000 to the bank for your mortgage loan, then your equity is $50,000.

 

Getting your [equity](https://offermarket.us/real-estate-glossary/equity) out of your house does not necessarily mean you need to sell. You can do a cash-out refinance which means your bank implements a new mortgage loan of let's say 75% of the value of your home ($75,000) amortized over 30 years, and returns $25,000 of your equity (minus fees) to you. Depending on current interest rates, your monthly payment amount may change. Moving forward you will continue paying down your mortgage but the clock has now reset and you have less equity in your home.

 

Getting [equity](https://offermarket.us/real-estate-glossary/equity) out of your house incurs transaction fees. Whether you're selling your house or cash-out refinancing, you will pay transaction fees that eat into your net proceeds. Being aware of these fees and eliminating and minimizing them wherever possible is a best practice. It's also why OfferMarket exists. 

 

## What are your goals?

 

Does owning a house align with your goals in life? If your goal is to travel the world and work remotely in the near future, then being responsible for owning a house might not be ideal. 

 

Accordingly, the equity house might help you achieve your goals. Being able to put that equity towards achieving your goals, so long as the money is allocated diligently, can deliver powerful liberating effects and hopefully provide you with happiness.

 

## What is the property worth?

 

Before we get too far along with the *should I sell my house?* question, let's consider how much your house is currently worth. If you bought your house 5 years ago for $100,000, and it's now worth $200,000 and you think that is over-valued, the timing may be right to sell your house. You will walk away with considerable financial gains thanks to appreciation and mortgage debt pay down.

 

If, however, you bought your house for $100,000 5 years ago and it would be difficult to sell it for more than $100,000, you're looking at two core options:

 

1. does it make sense to incur transaction costs to sell my house at this point?
2. could I achieve higher returns on my investment if I sell this house and invest the proceeds in something else?

 

## What is the outlook for my local housing market?

 

Real estate is hyper local. Different neighborhoods in the same city may be on very different trajectories as far as median home values are concerned.

 

## Am I able to comfortably carry the costs of owning my house?

 

**If we're talking about your primary residence:**

 

If the costs of owning your primary residence are well within your means, and you are happy living where you are, then it doesn't make sense to sell. 

 

**If we're talking about a rental property you own:**

 

If you are consistently earning [free cash flow](https://offermarket.us/real-estate-glossary/free-cash-flow) on a monthly and annual basis and therefore not "bleeding" money, then it would be hard to justify selling unless you can confidently invest your capital in an asset that will have higher returns.

 

## What other options do I have?

 

## It never makes sense to sell un an uncompetitive process

 

The keys to optimizing your net proceeds:

 

- **high** buyer competition
- **low** transaction fees

Should I sell my house? Thousands of homeowners are asking this important question. Learn our insights to help you make the right decision for you and your family.

What is the first thing to do when selling a house?

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