What to Expect
It is essential to understand that selling a home is a step-by-step process that should begin with the selection of an Agent who will skillfully guide you through the entire process.
Six Steps to Selling Your Home
1. Evaluate Your Personal Timeline
Understand your reason for selling. Many times, selling a home can be a bigger emotional decision than buying a house. Take note of different factors that influence your decision to sell (e.g. reason for selling and price).
When you sell, you’ll need to do a few things. It doesn’t hurt to take care of these things beforehand. Evaluate your finances and gather up documents you’ll need such as your title, insurance, and mortgage.
2. Assess the Condition of Your Home
Get your home inspected. You want to be proactive. It’s better to be proactive and find what needs to be addressed now rather than later.
There are some things that can’t be fixed. Factors such as location can have an impact when it comes time to sell your home.
3. Functional and Aesthetic Upgrades
Shape your home up before marketing. Shaping up your home may include new paint, new appliances, clean carpet and flooring, or lush landscaping. Taking the extra step to ensure that your home is appealing may mean the difference later on in the deal.
Stage your home. Clearing your home of any extra stuff such as personal belongings opens up the property for potential buyers. Adding light to any dark corners of your home opens up the space. Take the time to stage your home in a manner that will attract buyers.
Put yourself in the buyer's shoes. What would the buyers of your area want in the house? Putting yourself in your buyer’s shoes gives you an edge when it comes time to receiving and reviewing offers.
4. Find a Real Estate Agent
Good real estate agents are there to help. They are there to help you when it comes to selling your house. They’re able to help you determine the price at which you are able to sell your home. If your price is too high, you’ll have few offers. If your price is too low, you’ll end up losing money on your investment. Moreover, real estate agents can help you with all the aforementioned steps.
5. Review Pending Offers
Look at your offers. Review all your offer(s) and begin negotiating with the buyer. Doing research beforehand and having a good real estate agent can help you have the upper hand in the negotiation. Try to reply quickly to your offers; waiting gives your buyers time to look around, potentially losing you the deal.
Reach an agreement with the buyer. Both you and the buyer are ready for the exchange. You’ve negotiated and discussed the terms with the buyer and you’re both content with the outcome; you’re both ready for the next step!
6. Review the Contract, Prepare Paperwork, and Close
The home stretch. You’ll need to cooperate with the buyer and all necessary individuals (buyer’s agent, home inspector, etc.) in order to make the process smooth. Making sure you’ve prepared all of the necessary documents, such as property records or insurance documents, facilitates the process, making it easier for everyone else.