Selling your house is a big deal. Chances are, while you’re selling your house, you’re also preparing for an upcoming move. You want to get the most money you can, and you also want to sell your house fast.
To ensure that you have the most lucrative experience possible, there are certain steps you can follow.
Here are the six steps to selling.
Step One: Find a Sellers’ Agent
A sellers’ agent is a real estate agent who specializes in helping homeowners sell their houses.
A seller’s agent will help you prepare your house for sale, determine a competitive asking price, will show your home to potential buyers, help you review offers, negotiate on your behalf, and walk you through appraisals, inspections, and other aspects of the closing process.
Look for an agent who is familiar with your type of property and who is an expert in your community. You’re selling buyers on the neighborhood as well as the house, so it’s good for the agent to know about local schools, public transportation, shops, and recreation.
Step Two: Price Your House Competitively
The price you place on your house for sale is quite significant. Some sellers like to aim high with the idea of reducing the price if the property doesn’t sell fast enough.
However, that technique could backfire. Buyers are turned off by a house that’s price has dropped multiple times or one that sits on the market for too long.
You also don’t want to aim too low because you’ll be sure to lose money.
Your agent will guide you on pricing based on what’s called a comprehensive market analysis, or CMA. The CMA presents data about recently sold homes in your community that are similar to yours in size and stature. This report indicates what buyers are willing to pay in the current market.
The real estate market is fluid; it fluctuates based on whether it’s a sellers’ market or a buyers’ market. A sellers’ market means there are not very many houses for sale, but plenty of buyers out looking. This creates competition, which drives up home values.
On the contrary, a buyers’ market means there are too many houses and not enough buyers, which decreases home values.
Ideally, you’ll list your home in a sellers’ market.
Step Three: Stage Your House for Sale
Make sure your property is in stellar condition as you move to the staging step. All of the home’s major systems and its structure will be investigated by an inspector. But once the house is deemed to be in good shape, it’s time to dress it for success.
Your agent can offer you tips and tricks for staging your house for sale, so don’t hesitate to take advantage of his or her knowledge and experience.
Essentially, staging means that you declutter the house, deep clean, depersonalize, neutralize the space, and accentuate the home’s best features. It also helps you prep for your upcoming move by packing and storing things away.
Staging also happens on the outside of your home to increase the chances of making a great first impression on potential buyers with curb appeal.
If you’re not feeling up to the task of staging, there are professionals who can do the cleaning and staging for you.
Step Four: Showing Your Home
In today’s real estate market, it’s not uncommon to view homes virtually before house-hunters decide to visit the property in person, so there’s less foot traffic and fewer window-shoppers.
By using high-quality photos, video, and compelling text, you can attract the right buyers who are ready to take action.
Your sellers’ agent won’t be the one showing homes to potential buyers; the buyers’ agent does. In most cases, a lockbox is placed on the door with a key inside so that agents can bring their clients in for a showing.
When you show your home, make arrangements for any pets that you have. Showing your home with animals in it can be uncomfortable for the furry family members as well as buyers, who may even have allergies to cats or dogs.
Step Five: Offers and Negotiations
If you’re listing in a sellers’ market, you may find yourself happily considering multiple offers. It’s critical to read carefully through each one, paying particular attention to contingencies and closing dates, not just the amount of the offer.
Your agent will present you with each offer and help you decipher which one is best for you.
Allow your professional agent to negotiate on your behalf until you reach an agreement with a buyer on price and terms.
Step Six: The Closing Process
The closing process can take anywhere from 30-90 days, depending on the buyers’ financing, the appraisal, inspection, title check, and other factors of completing the transaction.
Be prepared to open your door to appraisers and inspectors who verify to the bank that your home is valued at what the buyer is borrowing and that it’s in excellent condition.
In most cases, the appraiser and inspector would prefer that you, and your animals, are not home during their assessments.
The title check proves to the bank and to the buyer that there are no liens that could legally prevent the sale of the house.
Start the journey into selling your home by finding the best real estate agent for your situation. With your agent’s advice, set a competitive price on your house for sale.
Stage the property inside and out, so it makes its best first impression. Be patient with the showing process but take heed of the fact that only serious buyers will visit your house.
Review each offer in great detail so that you choose the one that’s best for you financially, as well as on your timeline. And expect a bit of inconvenience in having inspectors and appraisers in your home. Make sure the title to your home is free and clear so it can be legally sold.
Most importantly, talk at length with your agent to make sure you’re getting the most money for your house for sale and expedite the process.
Have Questions? Ask Nancy Puder & Associates!
Your real estate agent is the best source of information about the local community and real estate topics. Give Nancy Puder & Associates a call today at (805) 710-2415 to learn more about local areas, discuss selling a house, or tour available homes for sale.