Step 1: Decide to Sell
When you sell, you want to get as much value as you can for your home. So you might want to consider the timing of the sale because it definitely has an effect on the value. You don’t want to sell when it’s a “buyer’s market,” when too many homes are for sale and there are not enough buyers. Seasonality is something to consider as well because typically more homes are sold in the spring rather than the winter.
You can also increase the value by enhancing the appeal of your house. There are various ways to do this and it all depends on the amount of monetary resources available. You can renovate your house by remodelling an area or just freshen up the walls with a new coat of paint.
Even just keeping your front lawn tidy can make a big difference. Buyers love seeing green grass and flowers outside because it feels more warm and inviting to them.
Home inspections are also something that you can do to prove the value of your home. Buyers will usually ask for a home inspection, so if you do it ahead of time it will definitely impress them. It also gives you a chance to prevent unpleasant surprises and make any major repairs.
Now you’re ready for the for sale sign!
Step 2: Hire an Agent
There are thousands of real estate agents, so how do you chose one that’s right for you?
You have to pick carefully. They will be acting as your representative and you will need someone to look out for your best interests. You will need someone that you can trust and someone who understands what you want.
There are a few ways to look for your perfect Realtor:
- Jot down some names and numbers that you find on “For Sale” signs
- Ask friends and family for a recommendation
- Visit one of the local offices in your area
They have to be a trained professional who knows your area inside out. A great agent is someone who offers you quality services to help you accomplish your goal.
Step 3: List your Home
Now that you’ve found the perfect real estate agent, they will list your home. First they will value your house and set a price. A report on market data will be complied to properly value your home based on the prices in your area.
Once they’ve done that the agent will market your home through various media outlets and listing sites to create strong buyer interest. They can post on Multiple Listing Service (MLS), social media, blogs, and websites.
There will be open house appointments as well to showcase the potential of your home to various individuals. At this point, Realtors may also suggest to stage the home to help these individuals imagine themselves living in your house.
Step 4: Receive an Offer
Not all offers are equal and that’s where your real estate agent comes in. They will help you get to know the terms and conditions regarding the price that the buyer wants to pay, financing conditions, or other things like inclusions and exclusions that the buyer wants to make.
Not only is it about the price of the home, but you have to carefully look at the other details included in the sale. Appliances, chandeliers, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified by the buyer.
If there is something in the offer that doesn’t satisfy you, counter offers or negotiations can also be presented to help get you what you want.
Step 5: Close the Sale
There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that’s taken care of, you can pass your old keys to the new owners. Congrats!
You’ve officially sold your house!