Is it time to sell your home? There are so many reasons to sell. You may have outgrown your home or you’re ready to go to a new location. A job change or a life event are other reasons to sell.
There are steps that you need to take to get your house ready and make sure that you do things the right way in order to get the most value out of your home.
These stages of selling your home can help you create order and organization around the chaos of selling your home.
Keep reading to find out what the stages of selling a house are.
1. FSBO or Work with an Agent?
The first decision you have to make is whether you should sell the home yourself or hire a listing agent. You don’t have the agent’s expertise, but if you sell FSBO, you don’t have to pay commissions either.
If you do decide to work with an agent, work with someone who has experience with homes in your neighborhood.
2. Decide What Your Home is Really Worth
Here’s where having a listing agent is helpful. Your home is not worth as much as you think it is. An agent knows how to price your home to sell.
This is an essential part of the process. If you price to high, your house is going to sit, and people will wonder why it’s sitting on the market. Price it too low, and you’re not getting the most value.
3. When is the Best Time to Sell Your Home?
There’s an art and a science to selling a home. You need to consider the timing of the sale to get the most value.
You want to sell your home when most buyers are looking. That’s usually in the spring and summer months.
During the fall and winter, people are focused on school and holidays. Plus, they don’t want to move when it’s cold out.
4. Make a Punch List of Repairs and Issues
When you figured out the timing and price of the sale, you need to justify the asking price. Make sure that you go through your home and make any repairs and address any issues.
The buyer could ask for a lower price because they would be responsible for those repairs. You don’t want to give them that incentive, so your best bet will be to make a punch list and take care of those items.
5. Have a Marketing Strategy
How will you market your home? It’s not enough to put a for sale sign in your yard and hope that people call.
You need to have a complete marketing plan that includes digital marketing, since that’s where buyers start looking for new homes.
You want to come up with a plan to target several audiences. Millennial buyers are looking for homes and they are a large part of the real estate market.
6. Stage Your Home
The staging of your home is a big part of your marketing plan. When you list your home, people will form a first impression based on the photos.
If the property looks cluttered and lived in, they may get turned off and look at the next listing. Home staging is important because it gets rid of the personal items and gives your home an updated look.
Buyers can see themselves in the home as opposed to seeing themselves visit your home that’s full of your stuff.
7. Don’t Forget Curb Appeal
The exterior of the home is just as important as the interior. Buyers were interested in your home because the interior looked great.
Driving up to a lot that’s full of weeds can make them keep driving. The fact is that landscaping can add thousands of dollars to your home’s value.
Make sure that the landscaping looks taken care of an welcoming to potential buyers.
8. Schedule Showings and an Open House
Your home looks stellar and it’s ready for business. It’s listed and your marketing plan is working. The next stage of selling your home is to schedule showings to interested buyers and at least one open house where people can stop buy and have a peek.
9. Choose the Best Offer
All of the work you’ve done to this point should have generated a few offers. If you did get any offers at this stage, then revisit your marketing. You may need to revisit your pricing or address a repair to get those offers rolling in.
If you have received offers, congratulations. You may have to negotiate the final price or wait for better offers to come in. Once you accept an offer, you can move towards the close.
10. Potential Closing Issues
Accepting an offer doesn’t mean you’re done. There are a lot of things that can come up before the close. The home still has to be inspected and appraised.
Once you move through these steps, you’re ready to close.
11. Pack and Move Out
Hopefully, you have a new home to go to. It’s tricky to time the sale of your home and the purchase of a new home. It’s a tightwire act that requires a lot of juggling.
12. Finalize the Close
You jumped through all of the hoops of inspection and other stages of selling a house. Now it’s time to make it real.
The closing of the sale is the legal transfer of the property from you to the buyer. The buyer gets the keys, you sign the documents, and you move on.
You should show up to the closing with a real estate closing attorney. They have the expertise to review all of the contracts and paperwork before you sign them. Most importantly, they’re responsible for distributing the proceeds of the sale.
The Many Stages of Selling a House
Are you overwhelmed? There are a lot of stages of selling a house, and it can be difficult to manage all of them. Some of them can happen at the same time, making your life stressful and crazy.
At the end of it all, you should wind up with a sale, a profit, and a great new home to move into.
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