Whether you’re in the market for more space for your growing household or you’re looking to downsize as an empty-nester, selling your beloved family home can be a pleasant, stress-free, experience. Taking the time to research what’s involved in the sale of a home before you reach out to an agent will keep you informed and one step ahead.
Step 1 – Real Estate Agent
Once you’ve decided it’s time to put your home on the market; your first step is to find a credible real estate agent. Typically, a person can list what they know about real estate on a single page of paper. A real estate agent has years of experience and knowledge under their belt and could fill books with what they know regarding real estate. Take advantage of the expertise an agent can offer you and trust in them to get your home sold as quickly and painlessly as possible.
Step 2 – Selling a House That’s Show Ready
Before you take photos of your home or hold an open house, make sure your home is ready to be on display. Replace old, worn items and repair broke fixtures in each area of your home. Organize your closets, pantries, and garage. Now would be a good time to rent a storage unit to hold all of the clutter, personal collections, and seasonal clothing items from your home. Buyers want to see as much space without the distraction of your personal items as possible.
Step 3 – Asking Price
Sit with your agent and compare your home to similar properties up for sale in the area. The condition of your home, along with the number of bedrooms/bathrooms offered plays a significant role in how you will want to price your home. The market may be less than ideal at times, which means that you may have to settle for less than you feel your home is worth to achieve a sale. In a booming market, you could receive multiple offers and a bidding war for your home bumping the price above your expectations. Your real estate agent will be able to guide you and help you choose the asking price that will attract the most potential buyers and give you the best return on your investment.
Step 4 – Marketing
To sell the property, potential buyers must see your listing. Talk with your real estate agent about what lies within their marketing plan to ensure that your home reaches as many potential buyers as possible. You need a listing that captures the attention of those buyers and draws them in to visit. Information is readily accessible in many forms with today’s technology, so be sure your agent is using every available medium to spread the word about your home.
Step 5 – Inspections and Contracts
Once your home catches the heart of a potential buyer, they will place an offer to your real estate agent. You can decide if you wish to accept the offer right away, wait for additional offers, or turn it down for being too low. Your agent is there to advise you on the best course of action to take based on the terms of the buyer’s offer. After the offer is accepted, you sign all paperwork related to the sale. The mortgage lender orders all inspections and the needed appraisal. Any problems that arise from the investigations will likely cause delays, but don’t worry. After some terms are adjusted and challenges fixed, you’ll be right back on track to head to closing day.
Step 6 – Closing Time
It’s time to sign the final legal documents that officially mean you have sold your home. On closing day, you pay closing costs. Unless you’ve made other arrangements prior, closing day is the day you’ll hand over the keys to your now former property and celebrate a successful transaction.
Your real estate agent is the best source of information about the local community and real estate topics. Give John Neal a call today at 305-333-9030 to learn more about local areas, discuss selling a house, or tour available homes for sale.