Do you need to sell your property? Selling a home can be stressful and complicated, with many variables to consider. Read on to find out everything you need to know about selling a home in Neptune, NJ.
Preparing your house to sell
Before listing your property for sale, there are certain things you need to do to ensure that the property will reach the most buyers.
Determine your home’s value
The key to choosing the correct price for your luxury property lies in determining the fair market value (FMV). The FMV is calculated by considering market trends and similar luxury homes in the neighborhood, as well as evaluating an appraisal report.
Interviewing real estate agents
There are many agents who can help you sell a home in Neptune, NJ, but they all have different specialties. You need to consider interviewing three agents to find out their specialization and whether you would connect with them. You will likely be working with the agents for several months, so you need to choose one who would be a good fit. Theresa Lee is an expert New Jersey real estate agent with the passion, skills, and knowledge to help you sell your Neptune home.
Upgrades to improve your home value
Many sellers decide to do simple renovations to maximize the home’s value. Some popular renovations with a high ROI include repainting the interior, adding new hardware, and landscaping.
Good and bad times to sell
There is an optimal (and less than optimal) time to sell your Neptune home, depending on considerations such as the condition of the real estate market and knowing buyer behavior. For example, many buyers are looking for new homes in the spring, making it an excellent time to sell. In addition, you are likely to sell fast when there is increased buyer demand, with homes selling quickly.
Staging your home and taking photos
Staging can help you highlight your home’s best features. Capture excellent staging efforts by getting professional photographs, which can help you sell 32% faster.
Selling Your Home
Here are a few things to consider when selling a home in Neptune, NJ.
Listing on the MLS
You can list on the Multiple Listing Service (MLS), which is a comprehensive database of all homes for sale. Through syndication to multiple real estate sites, your listing has the potential to reach a wider audience.
Open house & virtual tours
Sellers must consider whether they will host an open house or conduct virtual tours. Considering where prospective buyers are located can help you determine which option would be best for you. If there are many potential buyers in the local area, hosting an open house might be a great idea, as it will likely entice them to make an offer. However, if targeted buyers are out-of-state, consider adding virtual tours to your listing and social pages.
Cash vs. traditional
While cash-only transactions are less likely to fall through, you should look at the entire offer. Consider factors such as how quickly buyers can move into your home and what contingencies they are asking for. It is possible that a financing offer with a few contingencies can go just as smoothly as a cash-only offer.
Appraisal
One thing to be aware of when accepting a non-cash offer is that the mortgage lender will often require the buyer to get the property appraised. The purpose of an appraisal during the closing process is to ensure the home is not selling above the fair market value. It can even benefit sellers to attend the appraisal, as they can often provide specific information on the property.
Escrow
When buyers make an offer, they will usually make a deposit which will go into an escrow account. If the sale succeeds, the escrow funds will go toward the down payment. Otherwise, the escrow funds would go to the seller.
Closing costs
In New Jersey, sellers typically pay an average of 3% of the final purchase price in closing costs, which are title service and transfer fees.
Frequently Asked Questions about selling your Neptune home
Here are some commonly asked questions by those who are selling a home in Neptune, NJ, and their answers.
How long does it take to sell a home in Neptune?
In February 2023, homes took, on average, 13 days to sell, which is a nearly 60% decrease month-to-date. If this trajectory continues, you will likely sell your Neptune home fast.
How can I sell my Neptune house faster?
The day that you list your home matters. Consider listing your home on a Thursday. Homes listed on Thursday generally sell about five days faster. This is because potential buyers search for homes toward the end of the week, leaving the weekend open for visiting open houses.
How can I get the most money to sell my Neptune home?
Sell your Neptune home for top dollar by pricing it correctly and negotiating the best offer. A real estate agent with excellent negotiation skills will be a great help here. Furthermore, consider doing small renovations that have the potential to bring a high ROI.
Is it a good time to sell my Neptune home?
As of the first quarter of 2023, Neptune was experiencing a competitive market with homes selling fast and costs rising. With many buyers searching for a new home in Neptune, it is a great time to sell.
Is staging my home worth it?
Staging can help buyers visualize their future lives in your home, leading to your home spending 73% less time on the market and selling for 25% more.
Can I sell my Neptune home without a realtor?
It is usually a lot more efficient to use the services of a realtor, such as listing on the MLS, preparing for staging, marketing, and negotiating.
What if my home isn’t paid off yet?
You can still sell your Neptune property even if it hasn’t been paid off. When selling a financed home, you would use the proceeds from the sale to pay off the mortgage.
What if I have a tax lien to satisfy?
If you have a tax lien on your property, you must pay it off. If you don’t pay off the tax lien, the property could be sold as a tax deed sale.
What do I do if my home listing expires?
Sometimes even after diligent marketing and staging efforts, a home listing can expire. If this does happen, you typically have three options. You can extend the current agreement, find a different realtor to work with or sell your property For Sale By Owner. Consider consulting your realtor to find out what would be the best option for your Neptune home.
Interested in selling a home in Neptune, NJ? Schedule a consultation with real estate agent Theresa Lee, who can provide expert guidance on everything from creative staging tactics to innovative marketing strategies. Theresa can help you sell your Neptune, NJ, home quickly and for top dollar, or she can assist you in finding Neptune homes for sale if you're in the market to buy.
