Selling a HomeAlthough it might seem daunting at first, selling your home is not as complex a process as it initially might seem. The process is relatively the same no matter the size, location, or price point of your home. We have put together a list of 10 key steps to selling your home, which should make the process much easier for you.
- .) Research – When you first consider selling your home, it is essential that you understand your local market, what your responsibilities are as a seller, what fees are associated with selling a home, and whether you want to work with a real estate agent or not. When you conduct thorough research in advance, you can save yourself time, money, and your stress will be greatly reduced.
- .) Agent Walk Through – When you prepare to put your home on the market, your trusted agent will schedule a time to walk through your home with you. Take advantage of this opportunity; it can help you become aware of problems that might come up in the formal inspection. In addition, your agent can help you identify some areas for improvement/updating so that you can show your home in the very best light. Although this is not an essential step in selling your home, it can potentially put you in a much better position as a seller.
- .) Prepare your Home – This step is a crucial part of selling your home. First impressions can often be lasting impressions, so making sure your home has excellent curb appeal and that you have prepared the outside and inside of the home accordingly is absolutely essential. This is the best time to take care of the landscape, make any cosmetic repairs, and to de-clutter your home inside and out. You may consider putting some of your furniture in storage or hiring a professional staging company to help your home look its best.
- .) Price your Home – Many sellers will work with their realtor to set their home’s asking price. A home’s asking price is based off several things, including the market value, local comps, supply vs demand, and what you as a seller hope to get out of the home. Keep in mind that some homeowners choose to wait to list their home until they are better positioned to get a certain price.
- .) Market your Home – Once you are ready to officially list your home, your realtor may schedule someone to take professional photos of the interior and exterior of the home. High-quality photos can highlight some of the best aspects of your home and set-the-scene for potential buyers. Pictures can easily bring in potential buyers the same as they can drive them away. Once high-quality photos are taken of your property, your realtor will list your home online and may consider print advertising as well.
- .) Show your Home – Your realtor will work with you to schedule home viewings and open houses. Make your agent aware of any scheduling issues you might have ahead of time and be as flexible as you possibly can. In addition, sellers need to make sure their home is clean, well-lit, and free of clutter each time someone comes to view the house.
- .) Receive Offers/Negotiate – The next step in the home-selling process is when you start to receive offers and you begin negotiations. If you are using a realtor, some of the negotiation process may not be completely transparent. Your realtor will work with the potential buyer’s realtor as a go-between and you will not be directly involved in the negotiations.
- .) Accepted Offer – Once you formally accept an offer, your agent will open escrow and order a title, hold the deposit, work with you to schedule an appraisal and inspection, help make sure you comply with all home inspections, ensure all disclosures are in order, etc. You will need to work with the buyer regarding any requests for repairs and you may ask them to release any contingencies.
- .) Sign Title and Escrow Documents – Once the inspection period has passed, it is time to sign the title and escrow documents, close escrow, and officially sell your home. It may take a couple days to receive payment for the home if it is paid for in cash. However, if the buyer is purchasing the home through a mortgage, it can take a bit longer to receive payment.
- .) Move to Your New Home – After closing, you will need to move out of your home by the agreed upon date. It is always recommended to leave your home clean and move-in ready.
By simply following these 10 steps to selling your home, you can save yourself a lot of headaches. If you are new to the home-selling process, you may want to consider using a real estate agent to help you through the process.