Perhaps, this is your first time selling a house, and though you have seen others go through the process of selling a home, you only have a very vague idea what steps need to be taken. This article will detail the basics during the home sale process.
Decide How To Sell Your Home
Any home sale can end up a long complicated series of steps that can take months to accomplish, but the first step is deciding what kind of help you would like. The three most common choices is whether to use a real estate agent in the selling process, sell a home by owner, or sell to a real estate investor or real estate company directly. Each choice has its pros and cons that make it desirable in certain situations.
If you go with a real estate agent you will typically have to have a home that is in moderate to good condition, but even then it will usually be the market for about three months before it is sold, and always for a commission fee. If you choose to sell a home privately it can be a good thing for you to save the commission fee but you have to be willing to put in the time, but it will typically sit on the market longer. If you opt for a real estate investor you will typically find this to be the quickest and easiest way to sell a home because the investor can typically close within weeks and they will usually pay cash for property, however you will usually have to accept a below market price for the home.
Figure Out The Home’s Value
One of the most important things when selling the home is the price, if you set the price right you will attract more buyers and at the same time make a profit from the sale of the home. Do your own research on comparable home sales in your neighborhood that have sold in the last three to six months to figure out market trends, and your home’s value will be close to the other comparable homes in your neighborhood. If you are not sure about the price of the home you should consider hiring a home appraiser who will help you price your house accurately based on market value.
Prepare your home for sale.
Your home will attract the greatest number of buyers around its first weeks on the market. So, you must prepare your home to its best state before putting it up for sale. Give it a thoroughly cleaning from kitchen to bathroom. Make an inventory of the small repairs that are needed and complete them. Stage your home, even if it is small things to make it look more attractive such as fresh cut flowers before showings, moving furniture to a more attractive position, or planting a few flowerbeds in the front yard. Make it easy for potential home buyers to find what they can love about your home and thus, make it easier to sell a home by owner.
Go Through All Offers
You will want to brush up on your negotiating skills when you start to get some offers coming in. You may even want to think about hiring a legal adviser to help you work through the offers that are coming in. If you are utilizing a real estate agent they will be required to show you all offers made by all buyers. The agent will usually give you advice on the offers but their real job is to act as a liaison between you and the potential buyer, or their agent.
Accept an Offer and Decide on a Completion Date.
When you accept an offer, you can either put a pending notice on your For Sale sign or put away the sign altogether. At this point, a contract will be drawn up and both parties will review the contract and negotiate to their liking. An attorney or title agent is required to explain the documents and assist in signing over the deed. When the title itself is signed over, you are no longer the owner of the property and the new owner will be given the keys.