How to Sell Your Own Home in Wisconsin

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Selling your home can be intimidating, because of the number of steps and the paperwork you have to initiate. Fortunately, there are attorneys and real estate agents who can help with the process. The bulk of the work is merely to keep these two parties accountable for the work you have hired them to perform and to provide an inviting home that buyers will want to purchase. In Wisconsin, the steps required of sellers are relatively the same as other states, except for the state taxes associated with the closing costs.

Instructions

Enlist the help of a real estate agent. An agent will work actively to find a suitable buyer for your home. She will require you to sign an agreement setting a certain percentage cut of the total buying price. Average agreements are for between 2 percent and 6 percent.

Hire an attorney to help write or review the listing agreement between you and your real estate agent. An attorney will assure that your agent will work diligently towards the sale of your home and not charge any hidden cots. Attorneys will also prove helpful in drafting and arranging close of sale documents.

Have your real estate agent perform an analysis of your property and compare pricing with similar neighborhood homes that have recently been sold. This will provide you with a total value of your home so that you may start setting an asking price for potential buyers.

Ask to see the analysis information from your agent. This will not only keep you informed on the process, but it will make sure that the real estate agent is held accountable for her work.

Find out if there is a preferred buying period in your Wisconsin town from your agent. If you are able to prolong the sale of your home, you may find that selling your home during a period of high demand may allow you to sell your home for a higher price.

Repair any portions of the house that will add to the value of the home and make it aesthetically pleasing for any potential buyers. Add a fresh coat of paint and add new flooring or carpeting. It is also suggested that you fumigate the home to prevent any pests from discouraging visitors. Unfinished repairs may mean you have to lower your asking price.

Ask to approve any market listing advertisements from your real estate agent. Make sure that the information is correct and in a professional-looking format.

Prepare your home to be inspected by potential buyers. Remove any unnecessary clutter and have your pets boarded during this time, if possible. You will want the home to look pleasing and inviting. Expect uninvited visitors, as they may want to visit your home during undesignated times.

Reduce the price of your home only if you have few offers. Your real estate agent will advise you as to how much you should drop your pricing without losing too much and still attract interest.

Have your attorney prepare the deed and "offer to purchase" document when you have agreed to an offer.

Prepare to pay the closing costs associated with selling a home in Wisconsin. Costs will include title insurance fees, real estate agent's commission, local property transfer tax, Wisconsin capital gains tax, Wisconsin transfer tax, county transfer tax, FHA fees and home inspection fees. Some fees are negotiable, so the exact amount of your fees will depend on your location and the closing price of your home. Your real estate agent will provide you with the exact number.

References

About the Author

Based in El Paso, Texas, Anaid Heyd has been writing research articles since 2001. Her work has been published in the "American University Law Review." She has bachelor's degrees in political science and Chicano studies from the University of Texas at El Paso and is currently in law school at American University.

Photo Credits

  • new home for sale image by itsallgood from Fotolia.com