Many of you have asked me how I did so well selling my home in Manassas, Virginia, USA, earlier this year. Once I decided it was time to sell, I talked with my real estate agent (Dawn Tollus: https://www.facebook.com/DawnTollusTheMarquisGroup). Dawn advised me when the best time to sell for my home and market. For me, it happened that the end of February 2021 was the peak time to put my home on the market before all of the spring homes started to become available. The previous year, I asked Dawn’s advice on whether to fill in the pool. She advised me to put that money into improved landscaping since many buyers were looking for pools. The improved landscaping (retaining wall and new front patios) are in the video below.
In addition, Dawn provides a showing consultant as part of her services. The consultant went through the house, inside and out, and listed what to fix, paint colors, furniture layout, and anything else that would get my house ready to sell. Ultimately, I needed to make the house a neutral showcase. All the unique paint colors that I loved had to go. Many of the fixtures were replaced with more neutral designs (less style-specific).
I followed Dawn’s and the showing consultant’s advice. Thankfully, my niece, Sam, helped me tremendously as we repainted all the walls and doors, put hardwood floors in the bedrooms, replaced many of the light fixtures and hanging mirrors, swapped shutters with black ones, painted the front door black, and other changes throughout the house. An electrician installed ceiling lights in all the bedrooms. Tile cleaners cleaned the tiles and recolored the grout where needed. The house exterior, deck, and outdoor concrete were pressure-washed. My niece, Alyssa, helped one weekend, and my friends, Jeremy and Frank, also lent a couple of evenings.
As a result of following the sage advice and putting in the right hard work, my house looked like a model home. The intent was to make any buyer feel like they had to have the house, whether wife, husband, or child. Below is the showing video Dawn’s real estate company made.
When my house went on the market, we had about 66 scheduled showings over the weekend and about 22 offers. As a result of the buying frenzy, many of the offers had no contingencies (meaning no required inspection or bank appraisal) and escalation clauses. The escalation clause allows the buyer to offer a base amount and increase the price until a certain maximum. I was flabbergasted. It still amazes me how high the offers came in at.
(Note: When accepting a contract for a price higher than a bank appraisal would come in at, it’s imperative that the buyer demonstrate they have the cash on hand to cover the difference between their prospective loan and the selling price, preferably in some form of escrow.)
THE RESULT: The house sold for $81,000 over the asking price and about $200,000 over the median price for homes in the neighborhood! As many improvements had been made to the house over 14 years, all investments were more than paid back in the final sale price. I cannot thank Dawn, her team, and my niece, Sam, enough for all they did to bring about a miraculous result. I highly recommend you get a good real estate agent and follow their advice to maximize the sale price and minimize contingencies.
Other posts will talk more specifically on the preparation process as well as how to get rid of excess furniture and belongings.
Talenton 