As you consider selling your home you are likely overwhelmed and drowning in an abundant amount of information. Real estate experts and professionals are clamouring for your attention and looking to get your business as you embark on this journey. Before you hire anyone to help you sell your home there are a few basic things to consider. Likewise as you get closer to listing your home and actually putting it up for sell there are general things to remember and consider.
The process of selling your home does not have to be complicated or difficult. The key to successfully selling your home is knowing exactly what to expect and working systematically through the planning process. As you begin the journey of selling your home remember that it is not always as simple and straightforward as you hope.
When you ask yourself the question, “what do I expect when I sell my house?” remember that each home is different. Each home purchase and sell varies and is influenced by a number of factors including financing, location, and time of year. Here is a quick list of things you should expect as you look to sell your home from the beginning to the end.
Price your home. The easiest and simplest way to price your home is to short list real estate agents and get estimates on what your home is worth. Since they all analyze similar data, chances are all valuations would be more or less in the same range. You can also look at local listings, go online and do some research on properties with similar features such as size, type of house, and locality.
Choose a real estate agent. You are not required to choose the agent who gives you the highest valuation for your home; choose the one that has the most experience, one who has the most ‘SOLD’ signs and the one recommended by friends or family. Interview a few before you decide on one. Going with a real estate agent typically cost you a percent of your home sell price. This fee is negotiable in many cases so don’t be afraid to bring it to the table.
Get your home ready. With buyers coming over to your home for viewing, you need to ensure that your home is in shipshape. Tidy up, clear the clutter, give a do-over to your garden, and don’t be afraid to add a few new things to polish the area. Having nice aromas floating around your home, gives the buyers an instant feeling of being ‘at-home’. If you have pets living with you, then make other arrangements for them as needed and required.
Market your home. Hire a good photographer and have good pictures taken of your property; you can even get a virtual tour designed of your home to market online. Identify your home’s strengths and choose the right advertising words to market your home. For example, for smaller spaces simple call them “catch all rooms” or “parlors”. You need to approve the marketing campaign your real estate agent designs for your home to ensure it is accurate and presents your home in the best light.
Show your home. It is best if the real estate agent does the viewing and answers questions from potential buyer. When you are asking yourself the question of when do I sell my house or how long do I keep it on the market remember that showing your home in warmer months when flowers are blooming and the weather is more comfortable is recommended by most real estate agents. Get feedback from the real estate agent after each showing so you can improve the presentation of your home.
Wait for offers. Your agent is responsible for informing you about every offer that comes in. Consider all offers equally. Don’t ignore low offers though; you can always throw in a counter offer. You don’t have to accept the first offer you get, waiting a while before you decide may give you more choices and better valuation. Your agent should be able to advise you on which offer is best, but then, the final decision is up to you.
Be prepared for the home inspection. Usually after an offer is made, a home inspector is sent by the buyer’s agent to survey your home and its property. You can be home when the inspector arrives or leave the keys with your agent. Offer price could be negotiated based on the list of repairs, so be realistic and get quotes from at least two different contractors before the offer can be negotiated.
Close and move. Attorneys, real estate agents, and mortgage bankers work diligently during this time. To close on your home successfully deeds need to be recorded and interested parties need to be paid. Exchanging keys between the buyer and seller is called closing and means that you have successfully sold your home.