How to Sell Your Home
Are you interested in selling your house but unsure where to start? The selling process can be intimidating, especially for first-time sellers. So today, we’re going to look at the basic steps of selling your home. We don’t have time to get into too many details, so consider discussing the process in-depth with a real estate professional or someone who has recently gone through this process.
The first decision you need to make when selling your house is deciding how you will sell it. While some owners choose to sell the house without a real estate agent, most people find that using a professional is well worth the costs. Even if you choose to do a FSBO (For Sale By Owner), you can still find companies to help you with the paperwork or other tasks you may be unsure about. These companies will typically charge a flat fee instead of a percentage of the sales price. After you’ve made your decision on whether to use a real estate agent or not, it's time for step number two.
Step number two is deciding how much money to list your property for. When deciding this magic number, it’s important to keep in mind the appraised value and market value of the house, how much you owe on the house, current market conditions, and how much similar properties have recently sold for. Having a real estate agent is very helpful for this step as they have market experience and access to a seemingly endless amount of data that can help determine how much you can receive for your property. It’s important to list your home for the right amount because if the price is too high, no one will put in an offer, and if it’s too low, you’ll lose out on potential money. After a price is set, it’s time to really get to work.
Step three is to get your house ready to sell. Truthfully, you should have begun prepping your house as soon as you decided to sell, but now is the time to go all-in. Declutter and donate as much as you possibly can, and consider moving unnecessary items into storage. Buyers don’t want to see everything suited to your personal taste; they want to envision what their life could look like in your house. So if you're using a real estate agent, get some tips on staging your home and bringing it back to a neutral state. Don’t worry; if all goes to plan, you’ll be out of the house and into your own perfectly-curated space again soon.
Next, it’s time to put your house on the market and let buyers decide whether or not to put an offer in. During this time, you may realize that selling your home is somewhat inconvenient, but be patient. If all goes well, you should see offers coming in soon. Just focus on keeping the property well-maintained and tidy, and always ensure that buyers see the home set up in the best possible way. After this goes on for a while, it’s time to get to the final step.
Once you see an offer that you like, you get to accept the offer and begin the due diligence period. The length of this period is determined by you and the buyer, but for however long this period lasts, the buyer is allowed to back out of the contract. Home inspections, appraisals, and other tasks get done during this time period, so get ready to be flexible. If all goes well and the buyer doesn’t see anything worth turning down the property over, it’s time to get to the closing table and get you paid.
Overall, selling your house can be a lengthy and tiring process, but the end result is worth it. Selling your home frees you to pursue other things and to go to different places, so if that sounds appealing and you're in the position to sell your home, don’t delay starting the process. If you want to talk more about selling your home, contact us today!
