Selling a home can seem like a daunting task, but when you have an organized list of tasks laid out in time-line order, it can seem a little less so. Here is a list of 7 of the biggest tasks you will encounter when you decide to you sell your home.
Hire a REALTOR
Choosing a knowledgeable real estate agent is essential to enjoying a smooth real estate transaction. Successful agents make client satisfaction their top priority and often put their client's needs before their own.
Understand the paperwork involved
Your REALTOR will help you understand everything from the listing agreement and the disclosure statement, to the sales agreement and the settlement statement. There is quite a bit of paperwork involved when selling a home. Make sure you know what to expect and understand what you receive.
Set the list price
Your REALTOR will have researched what comparable properties in your neighborhood have sold for, and will present a market analysis to you to help you set your price. Your price should be based on the sales data with in that market analysis. This is the data that your buyers will use when negotiating an offer, and you should be able to utilize it too. Remember, the quickest way to sell your house is to price it properly.
Get the home ready for buyers
Check your home's "curb appeal", clean the inside of your house, stage your house, make sure it stays clean and de-cluttered. Mow the yard and trim the shrubs, and keep your gardens neat and healthy. People buy homes that appear clean and well maintained, so take a walk around your home, does it look clean and maintained to you?
Establish the marketing plan
Decide when you want to list your home. Once the date has been set, the MLS listing can be prepared. You should ask your real estate agent where they plan on advertising and establish a schedule of open houses.
Reach a deal with a buyer
The buyer that decides to buy your home will make an offer that your agent will present to you. Once you receive the offer, your options are:
1.Accept the offer by signing it without changes.
2.Make a counter-offer by changing any of the terms and suggesting your own.
3.Reject the offer, indicating that some or all of the terms are not acceptable.
If the offered price is less than what you wanted, look at the offer as a whole. There may be terms that counterbalance the lower price (i.e. fast closing, no contingencies, buyer paying their own closing costs, etc.). Be prepared to split the difference if you and the buyer are close.
Be objective about the cost of holding out. If you are paying $1,000 per month to keep the property, selling for $2,000 below your asking price might make more sense than holding on for an extra two months, or even longer.
The buyer will have the right to do a walk thru the day of the closing. This is to make sure that they are satisfied that the house is in the condition agreed upon by you and them. If everything looks good, the final step is sitting at the closing table and signing the paperwork to transfer the title into the buyer’s name.