Are you looking for new investment opportunities? Or are you entering a season of life in which your Kailua-Kona property no longer fits? Regardless of the “whys,” if you are looking to sell a home in Kailua-Kona, learning the market, preparing your home well, and strategically timing your listing can give you peace of mind and earn you top dollar for your property.
Preparing your house to sell
The first, and likely the most time-consuming, step in this process is getting your house ready for listing. The good news is that you can start right away and pace your work to suit your own sales timeline.
Determine your home's value
Hire a real estate appraiser to determine the worth of your home. For the average cost of $300 to $450, an appraiser will come to your home and carefully inspect all facets of the property and take your amenities into consideration. They will also incorporate Kailua-Kona market data and provide you with a detailed report of your home’s worth. This provides you a baseline from which to begin determining your home’s listing price and an objective third-party validation of that price.
Interviewing real estate agents
Your most valuable ally and resource as you sell a home in Kailua Kona will be your real estate agent. Don’t simply rely on an acquaintance to do the job. Conduct your own research and find the best candidate for your specific needs. Meet with and interview any candidates who appear promising. Be sure to ask these questions:
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How long have you been in the real estate industry, and what additional skills do you bring to your business?
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What is your relationship with the local community?
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How frequently do you have repeat clients?
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How many transactions have you closed in the last year? Five years?
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What industry certifications/specializations/accolades do you possess?
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How many houses do you currently have on the market?
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What marketing strategy will you employ to bring in potential buyers and quality offers?
The knowledgeable and experienced team at Luxury Property Hawaii welcomes the opportunity to meet with you and craft a strategic plan to market and sell your home.
Upgrades to improve your home value
Not all upgrades will impress buyers, and oftentimes the large expenses of remodeling are not recuperated in the sale of the home. If you want your home to impress potential buyers, focus on the kitchen and get your home move-in ready.
The kitchen is the hub of the modern home. Here meals are prepared and shared, hospitality practiced, holidays and milestones celebrated. The kitchen is the most utilized and potentially the most important element in your house when it comes to selling a home in Kailua-Kona.
Making your home “move-in ready” includes making all needed repairs, touching up paint, freshening the landscaping, and taking care of all those little tasks in your home so that your buyer can have a stress-free moving experience.
Good and bad times to sell
Timing your listing, if you have the option to wait for peak season, can make a tremendous difference in how quickly your home sells and at what price. In general, late spring and the summer months are the best time to sell, with real estate transactions really slowing down during the holidays and remaining winter months. Due to the after-effects of the pandemic on the housing market, low inventory, and increased interest rates, homebuying seasons have been less predictable and consistent over the last three years.
Staging your home and taking photos
It is estimated that 90% or more of modern homebuyers begin their real estate quest online. Therefore, you must consider your online presence as the first showing of your home. Strategic and tasteful staging offers potential buyers a hint of what life in their new home could be and accentuates the best features of your property. Once the property is staged, a professional real estate photographer’s services will capture the beauty and charm of your home. If your real estate agent does not already include these services as a part of its in-house team, ask for recommendations from trusted and experienced professionals. Staging and photography are two services you want to entrust to the professionals.
Selling your home
You’ve prepared your home, selected a realtor, and staged and photographed your property. With an airtight marketing plan in place, things may begin to move quickly.
Listing on the MLS
Your agent will now place your home online and in print media which utilizes the multiple listing service, or MLS. Multiple home sale sites will share information and photos of your home, making it accessible to buyers.
Open house and virtual tours
Your agent may also celebrate the new listing with an open house to generate local traffic and educate other agents about your home. These events typically happen in the first few days of the listing going “live” and can often result in offers for purchase. Some real estate agents offer an online version of the open house, using video and storytelling to showcase your house online, adding greater insights and emotional appeal than photography could do alone.
Cash vs traditional
Most buyers are required to take out a loan to pay for the houses they choose to purchase. The terms of these loans vary, as do interest rates and borrower qualifications. If buyers have the means to pay cash, this is viewed favorably, but each homebuyer must assess their financial goals and decide which option is right for them.
Appraisal
Even if you already had an appraisal done on your home before putting it on the market, don’t be surprised if the buyer also wants one done. His mortgage lender may require it, and this appraisal is typically funded by the homebuyer.
Escrow
If you’ve had a mortgage on your Kailua-Kona home, you’re likely familiar with escrow. This is a special kind of savings account in which a portion of your monthly mortgage payment is set aside for property taxes and insurance. If you’ve built up funds in your escrow account, they will be refunded to you at the close of your sale.
Closing costs
Unless it is negotiated otherwise in the purchase contract, both parties will have fees to pay at closing. These can be negotiated, and are certainly up for discussion as you work out the terms for selling your home in Kailua Kona. Typically the buyer will pay for most of the closing costs, but the seller will generally be responsible for neighborhood association fees, attorney fees, title insurance, property taxes, and commission for the agent.
Got questions about selling your home in Kailua-Kona?
The team at Luxury Properties Hawaii understands current real estate trends and brings professionalism and expertise to every transaction. They are happy to discuss any questions or concerns about selling your home in Kailua-Kona. Give them a call today.