The Step-by-Step Guide to Selling a Home
Selling your home can be a daring task. With a step-by-step guideline you can organize the process and avoid all the headache.
1. Find a realtor: Interview at least 3 and pick an agent who is capable and who you enjoy working with. Ask questions about your listing agreement, including the length of time the home will be listed. Find out what they will do to get your home sold.
2. Utilize a CMA – Comparative Market Analysis: A CMA will assess how much your home is worth in the current market. It will take comparable sales, so homes that are most similar to yours in your neighborhood, and analyze them for listing and sold price, days on the market, and inventory, among others. All of this will help you price your home correctly.
3. Clean your property inside and out: Make sure the front yard is clean and inviting, as first impression is key. Declutter the inside and hide your valuables and assets. Make any necessary repairs. If you’re selling a home where pets live, you might want to make temporary, alternate plans for them.
4. Stage your home (optional): Consult with an interior designer or a professional stager to stage your property. This can be the key to selling your home faster at a higher price. They will bring their carefully selected furniture and accessories or you can ask them to use your own in an attractive manner.
5. List your property: Your agent should help you determine the selling points of your home to focus on when advertising. Ensure that the potential buyer gets a virtual tour of your home by using tools such as Matterport, lifestyle video, as well as 3D, drone, and architectural photography. Have your agent employ more than just basic marketing strategies (open house and print media) with the use of extensive social media marketing. This will maximize your exposure and increase your chances of a great sale.
6. Review offers and negotiate OR review the listing: If you have done everything right so far, you should receive multiple offers. Negotiate ALL offers by making a counteroffer. Your counteroffer should be a realistic reflection of the current market while ensuring that you are able to meet your goals.
7. Open escrow and order title: Your agent or transaction coordinator will open escrow and order a title policy for you. Note the contact information for the closing agent and select a closing date based on when the buyer’s loan will fund.
8. Prepare home disclosure and detailed paper work: As the homeowner you are legally required to disclose the condition and any facts about the property that may affect its value.
9. Buyers conduct investigation, appraisal, and negotiation for request of repair: An investigation is done to determine if the home is in need of any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. The buyer will receive an appraisal report. You are not typically required to make any repairs but the buyer has the right to cancel if you refuse. They may want to negotiate concessions and you can offer a closing cost credit. This marks the end of the contingency period.
10. Move out and prepare the home for the new owner: You may have to be moved out on the day the home closes so you want to move out comfortably ahead of time. Make sure you leave nothing of value behind!
11. Close of escrow: Your property deed, reconveyance, and deed of trust will record in public records. The title company will notify you and your agent when it records the deeds.