A Short Yet Complete Home Selling GuideApril 30th, 2021 by Administrator
Selling a home is not just limited to listing your home on the real estate market. The process can be as complex as buying a home and sometimes, more difficult. Therefore, we decide to share a short yet comprehensive home selling guide. Here, we will break down the essential steps to keep things simple for you.
Step 1: Prepare a Home Selling Strategy
In this digital era, you have various options to sell your home; for instance, you can advertise your home on your social media account, list your home on a property selling site, hire a real estate agent, and so on. Each option comes with its own pros and cons. So, before deciding what path you will choose, weigh your options.
No matter how many options you might explore, the easiest and most convenient option is hiring a real estate agent. Why?
The real estate agent will help make the best strategy to sell your home, market your home, prepare the paperwork, communicate with the buyer’s agent, negotiate, and assist throughout the process of closing your home. When you choose other options, you will be left to do everything on your own.
Step 2: Determine the Asking Price for Your Home
We understand that everyone wants the maximum value in return for their home. But buyers check out many properties in the area before finalizing one. If the price you are asking for doesn’t match with the market trend, they are not going to agree with the price. An experienced real estate agent knows the market’s trends in the area and can help you set the price competitively.
Step 3: Prepare Your Home for Sale
The better your home condition is the more offers you will receive. Preparing your home for sale will help you justify the pricing, attract more buyers, and reduce the time it takes to sell your home. Start by decluttering and then proceed with cleaning, repairing, and decorating.
Try to make your home in pristine condition even if it means spending on changing the damaged plumbing or HVAC air filter. If you are not ready to do it, buyers will try their best to bring the price of your home much lower.
Step 4: List Your Home and Market It
Once your home is prepared for sale, it is time to click photographs and market your home in as many ways as possible. If you work with a real estate agent, he or she will list your home on the MLS database and market your home in various ways, like coordinating professionals for photographs that highlight the best features of your home, printing flyers, posting signage, organizing an open house, and hosting the showing process. In case you have chosen to sell your home yourself, get ready to manage all these aspects.
Step 5: Show Your Home to Prospective Buyers
Showing home means keeping it extra clean and tidy at a moment’s notice. Plus, you will also need to vacate it so that potential buyers can imagine themselves living in your home and get the feel of it. The more people you can show your home to, the sooner you might receive an offer.
Step 6: Screen Offers and Negotiate
If you have received offers, compare to find out which of them is more beneficial based on the prices buyers are ready to offer, how soon they are ready to buy your home, and if they are offering beyond the price, such as a pre-approval letter, proof of funds, buyer’s contingency, the mode of transaction, etc.
Step 7: Accept the Offer and Close the Deal
Once you find the best and reliable offer, take your home off the market and allow your buyer to do due diligence to inspect the home. After due diligence and getting satisfied, the buyer must obtain financing for the home called the underwriting period. Then, you will need to sign your title and escrow documents and the buyer will give the sale amount to you. Congratulations, the sale is complete now.
When working with a real estate agent, he or she will take care of all these things and ensure that the purchase is made fairly.
We hope this home selling guide has helped you get a quick peek into what involves in the process of selling a home.