9 Simple Tips to the Home Selling Process – The home selling process is the same whether it’s for sale by the owner or you’re hiring a listing agent. Certain details can vary a little from state to state, but this checklist can serve as a general guide. Just be sure to confer with a local professional for details on specific requirements in your state.
9 Simple Tips to the Home Selling Process
1. Choose a Listing Agent
A listing agent represents you and has a fiduciary responsibility to look out for your best interests. Interview agents and meet with at least three of them as you make a decision. Try to hire based on experience. Ask questions about your listing agreement, including the length of time the home will be listed and the commission you will pay for the agent’s services.
2. Find Out How Much Your Home Is Worth
A seller’s greatest mistake is often overpricing her home. Keep your price in line with sold homes that have been identified in a comparative market analysis report. Consider whether your market is hot, cold, or neutral, and price the home accordingly.
3. Get Your Home Ready for Sale
Prepare your home for sale by cleaning and decluttering it and improving curb appeal. You might want to consider hiring a professional stager to stage your home for showings or ask your real estate agent for help or ideas. You can often use your furniture. If you’re selling a home with pets, you might want to make temporary living arrangements while you show the house.
4. Market Your Home
You or your agent should identify the selling points of your home and choose the best advertising words to convey them. Approve your agent’s marketing campaign or figure out how to advertise your house for sale yourself. You should also confirm that your listing is posted online.
5. Show Your Home
You’ll get more showings if you let agents use a lockbox or keypad to show your home rather than force them to make appointments. If you are opting for appointments, try to be flexible. Some buyers will want to see the home on weeknights and all across the weekend. Be as accommodating as possible.
6. Receive Purchase Offers and Negotiate
Be prepared to receive multiple offers if your home is priced right. Don’t ignore any offers, even if it seems too low. Negotiate by making a counteroffer. Consider making a counteroffer that’s contingent on you buying a home if market conditions warrant it.
7. Open Escrow and Order Title
Your agent or transaction coordinator will open escrow and order a title policy for you. Write down the contact information for the closing agent, and select a date to close based on when the buyer’s loan will fund. Don’t forget to ask for a receipt for the buyer’s earnest money deposit and option fee, if they’ve paid one.
8. Schedule an Appraisal
Clean the house the day before the appraiser arrives. If you receive a low appraisal, ask your agent about alternatives. You’re typically not entitled to receive a copy of the appraisal because you didn’t pay for it. If the buyer decides to cancel the contract based on an appraisal, ask your agent or lawyer about your rights. They’ll need an appraisal contingency in the contract to pull out.6
9. Cooperate With the Home Inspection
Now get ready for the home inspector. Ask your agent to provide you with a home inspection checklist, so you’ll know in advance what the inspector will want to see. Prepare the attic and basement for inspection, too. Move stuff away from the walls in the garage, and make sure there’s a clear path for the inspector to get through.
For more information about the home selling or buying process, contact our office!