If you are getting ready to sell your home, more than likely you have been through the home buying process at least once before.** Just like the home buying process and its complexity, selling your home is just as similar and it’s important to take the correct steps to ensure this process goes smoothly**. Before making any concrete decisions, be sure you have identified your reason for selling. Below is a step-by-step general guide to selling your property.
- Find the Right Listing Agent – The home selling process can be a long one so it’s important that you are finding the right listing agent to serve your best interests. Be sure to explore your options and interview the agents and choose by how much experience they have.
- Find Out How Much Your Home is Worth – Many times a buyer’s biggest mistake is overpricing their home. There is a line between pricing low enough to sell versus pricing just above the market value. Your listing agent is responsible for conducting market research to price your home accordingly and help sell your property in a reasonable amount of time.
- Get Your Home Ready for Sale – Although you may like your property the way it is, new buyers will be looking for a fresh look. Spend time deep cleaning, decluttering, and even providing a fresh coat of paint to your walls. When having a showing, it is important that you make a good first impression so be sure to follow these steps carefully to make your home look its best.
- Prepare for Open Houses and Showings – Work with your agent to identify the selling points of your home and the best way to market it to the public. Approve your agent’s marketing campaign and make sure to post on the internet and social media of photos and descriptions of your property.
- Receive Purchase Offers and Don’t be Afraid to Negotiate – If your home is priced right, be prepared to receive multiple offers and negotiate even if some prices are too low. Work with your agent to negotiate on your behalf and accept the best possible counter offer.
- Open Escrow and Order Title – Once a seller and buyer have reached a purchase agreement, you will enter a period called escrow. This is where the buyer and seller will wait for the closing and move-out date as well as address duties such as ordering a title report, scheduling an appraisal, and conducting a property inspection.
- Meet With the Property Appraiser – The buyer’s lender will typically require a property appraisal to make sure the negotiated price is fair for the property’s value. Make sure to keep your property clean and organized before the appointment and always corporate with the appraiser. If the buyer decides to back out of buying the property, be sure to ask your agent regarding your rights.
- Help Out with the Property Inspection – Inspections help buyers confirm that they are purchasing a home that is truly in good condition. If the inspector finds an underlying issue in the home, the buyer reserves the right to back out of the deal if they are not satisfied. If the contingencies are resolved, be sure to ask the buyer to lift those contingencies in writing.
- Prepare for Closing – As the closing date approaches, both the buyer and seller can take a deep breath and feel relieved. Your listing agent should be prepared in walking you through all of the paperwork and documentation you will read and sign during the closing meeting. Once all of these things have been read and signed, the property has officially been sold.