Did you decide to sell your home in the near future? Selling a house is a complicated process, no matter how good the real estate market is. Whether you’re a first-time home seller or not, you’ll probably have a bunch of questions. This home selling process simplified guide will help you better understand the process.
Before Offering a Property for Sale
- Real Estate Agent – Interview & choose a local professional listing agent
- Pricing – Set the right price for your home
- Prepare Documents – Listing Agreement, Seller Disclosures, etc.
- Repairs – Plan the repairs and improvements. Don’t over-improve.
- Staging – Consider staging your home. On average, staged homes sell in half the time than non–staged homes do. In our area about 80% of homes for sale are professionally staged.
Marketing Your Home
- Photography – Take professional pictures and get them edited to enhance the quality.
- Marketing & Advertising – Prepare a marketing plan that includes online advertising, Multiple Listing Service posting, scheduling open houses, printed materials, signage.
Dealing with Showings
- It’s a Cliché – Music, fresh coffee and fresh flowers do help!
- Don’t be Present During Showings – Let the buyers have the privacy they need.
- Feedback – Collect feedback from buyers and make any necessary changes to speed up the sale.
Receiving & Negotiating Offers
- Act Quickly – When you do get an offer on your home, act quickly and decisively.
- Offer Details – Before responding to any offer, review all Pros & Cons of the offer.
- Negotiating – If there is a good reason to have an agent, it is during the negotiation of the sale. A good agent can bring thousands of dollars to you and will protect you from liabilities.
- Home Inspection – The majority of buyers will hire a home inspector to conduct a thorough property inspection. The buyer might request the seller to do the repairs, provide credit for repairs, or reduce the asking price. Negotiate the inspection report!
- Appraisal – Appraisals are ordered by mortgage lenders and protect the bank from getting stuck with a property that’s worth less than the money invested. If you get a low appraisal, the buyer might ask you to lower the asking price or the buyer will have to make up the difference. Negotiate the appraisal report!
- Review Closing Documents – Review HUD-Statement, title insurance, sign the conveyance
- YOU ARE DONE! CONGRATS!