Trying to sell your house without the proper information will leave you stressed out and overwhelmed. Unfortunately, what you don’t know about the home selling process can cause you to lose time, money, and your patience. Here are 6 steps to selling a house that you should familiarize yourself with before you place a sign in your front yard.
Step 1 – Locating a Real Estate Agent
It might be tempting to visit the hardware store, purchase a for sale sign, and set it up in your yard without the assistance of a real estate agent. The down side is that you are more likely to run into bumps and pitfalls by trying to handle the transaction yourself. A real estate professional has years of knowledge and experience that is valuable. They understand the ins and outs of the real estate market, know how to set an asking price, and are experts in the negotiation process.
Step 2 – Preparing the House
Wouldn’t it be nice if you could just place your home on the market and sell it the next day without even cleaning out a closet? Sure it would be incredible, but that scenario isn’t realistic. You’ll need to do some deep cleaning, organize cabinets, repair systems, and apply a fresh coat of paint. Take care of the outside by making sure the lawn is well manicured. Staging the house means removing all personal collections, photographs, and unnecessary furnishings. Keep your house show-ready at all times.
Step 3 – Setting the Asking Price
There may be some confusion over the asking price and the selling price. The asking price is the amount you hope to receive from the sale. The selling price is what the buyer actually pays for the property. Ideally, you want those two numbers to be as close as possible. Your real estate agent will help determine the value of your house based on the current market, houses sold in the area, and upgrades you’ve made during the time you owned the home. You will make the ultimate decision, but it’s a good idea to listen closely to their advice.
Step 4 – Marketing the House
Your house isn’t likely to see as quickly as you would like with just a sign in the front yard. Your marketing should include a variety of methods that attract a broad range of people. Talk to your real estate agent and make sure you understand what they are planning in order to reach potential home buyers. Keep in mind that most people use their phones, the internet, and social media to locate homes for sale. Your efforts should include those things.
Step 5 – Agreements & Inspections
Once someone places an offer on your house, and you have accepted that offer, it’s time for the inspections and the contract between you and the buyer. The Purchase and Sale Agreement will list all the conditions of the sale and be a guide for you and the buyer throughout the remainder of the transaction. One or more inspectors will be secured to ensure that there are no structural issues or problems with things like the roof, plumbing, electrical, or pests. If the inspectors find something wrong, you may have to negotiate repair costs with the potential buyer. Your real estate agent will be right there with you during this part of the process. They will be your voice, and they have lots of experience with these types of negotiations.
Step 6 – Escrow & Closing
Once the inspections are complete and everything is set for the closing, the escrow period will begin. This is when all parts of the agreement are completed and necessary paperwork is filed. Your real estate agent will keep you updated on this part of the process and make sure everything goes as smoothly as possible. On closing day, the final paperwork will be signed by you and the buyer, all fees will be paid, and the home will become property of the buyer.
This is just a brief list of the steps involved in the home selling process. For more detailed information, give Sweeter Real Estate Group a call at 714-514-5004. We would love to help sell your house.
