8 Steps to Selling Your Home
8 Steps to Selling your Home
If you are selling your home for the first time, or you haven’t sold your home in a very long time, the selling process can seem overwhelming. Here are the 8 main steps to expect when selling your home.
1. Getting Started
- Select an agent that will represent your best interest
- You will sign a listing contract with your agent, giving them the exclusive right to sell your home.
- You and your agent will go over all of the details of your home. This will help your agent market your home in the best way possible.
- After going over details of the home, your agent will look at comps in the area, and together you will determine the best price to list your home.
- One thing to remember when selecting a listing price is, if the appraisal (see #6) comes out to be far less than what you sell for, the deal could fall through. So selecting a realistic price is going to help you in the long run.
- You will fill out a “Seller’s Disclosure.” This is a list of the conditions of your home, including any flaws or updates. Potential buyers will be able to look over this disclosure to have a better idea of any issues with the home, as well as selling points.
2. Photographing your home
- First impressions are crucial in the online home marketplace.
- 92% of home buyers are searching online, and the majority of them want to see pictures.
- Homes sell 50% faster and closer to asking price when using professional HD photos.
- Your agent will tell you how to make your home “Photo ready”, to attract the most buyers.
- Your agent will hire a professional photographer to take pictures of your home, which will be used to advertise your listing online.
3. Advertising your home
- A “For Sale” sign will be placed in your front yard.
- Your listing will be posted on MLS, Zillow.com, Realtor.com, and often on Facebook or other social media.
- At this point your agent will begin scheduling showings, so make sure to keep your house clean and organized at all times!
- If you have kids or pets, have a game plan for how to get everyone out of the house during showings.
- You and your agent may decide to host an Open House. This is usually on Sundays from 2-4pm. Your agent will be present during the Open House to answer any questions potential buyers have, and to further market your home.
4. Respond to offers
- When you receive an offer (or multiple offers) your agent will help you carefully consider it and negotiate the best price.
- Shortly after you accept an offer, the buyers will schedule an inspection of the home. This usually takes place within 10 days of acceptance.
- A certified inspector will go through every part of your home to make note of any damage or concerns.
- They will present this list to the buyers, at which time they will notify you of any repair requests.
- You have the option to negotiate which repairs you are willing to do, which could potentially lead to a change in the price or conditions of the sale.
- The buyer’s lender will hire a certified appraiser to determine the worth of your home.
- If it is determined to be worth far less than the purchase price, the buyers can further negotiate the price or conditions of the sale, or walk away from the deal.
- This is why it is so important to make sure you are not listing your home at a price that is drastically more than the true worth of your home.
7. Final walk-through
- The buyers and their agent will walk through your home one last time. This is to make sure that the agreed upon repairs have been done, and that your home is in an acceptable condition.
- If you have removed pictures or anything else from the home that has led to holes in the wall or any other damage, you will want to fix it before the walk-through, to avoid any last minute problems.
- Congratulations! This is the day that your home will be officially “SOLD!”
- You will meet with your agent, the buyers and their agent, as well as a Title agent and lender.
- Here the final contracts will be signed and funds will be distributed.
- You will hand over the keys to the new owners.