Are you Th
inking about selling your Home?
Selling your home
Making the decision
Choosing an Agent:
Margaryta: pearlhomes757@gmail.com
Getting Ready to Sell
Sell a Home
You have made the decision to sell, and you have an agent you want to work with. Now you need to consider a bunch of things before you actually put it on the market. We have broken it down into about 10 steps. Some are just a check in the block, other steps take some time and effort.
If you want to sell your home for top dollar, you may need to put some sweat into getting ready for the best appearance. In today’s market homes that look ready to move in sell fast.
Steps for Selling a Home
Step 1: How Much is your Home Worth
When you thin you want to sell your home, the first thing you need to know is what is it worth. You may need to factor in what you still owe on the home. You also need to determine what you will do once it is sold.
Step 2: Choose a Listing Agent
You probably chose an free Comparable Market Analysis (CMA) offer to determine the value of your home. Many People choose multiple agent or Brokers to do this. With multiple CMA you are essentially interviewing your agents. Choose the one you are most comfortable with, Most marketing plans are the same.
Step 3: Are You ready
You now know, what your home is worth, You know what you will be left with. Now you need to determine if selling is right for you. The next step is to really know what it is worth. In your Market Analysis your agent should have discussed the current condition of your home. Your agent should have mentioned your homes “Curb Appeal”.
Steps 4: Staging Your Home
Everyone considering selling their home should consider staging the home for likely buyers. A buyer comes into your home to see if it meets their desires, wants, and needs. The better it looks the better the offer you will get. Remember there is only one chance at a first impression. That includes when they first drive up and park; or try to park in some cases. You need to decide on staging or vacant property. You could choose as is but still need to stage your own belongings.
Step 5: Do I need to do Repairs
Right along with staging a home is determining if you will do some repairs in advance of wait for a buyer’s home inspection.
I like to recommend a seller do a home inspection so that there are no surprises during the negotiation period. Imagine, settling on a good price, and terms of a sale; then a home inspectors finds a bunch of repairs necessary or good to have. The list alone could turn that buyer away, even though the repairs themselves are minor.
A Long List
A long list is intimidating, and a licensed Home Inspector is obligated (Due to his license), to include all things he finds. His list will categorize then as to severity; but it is still intimidating. If you had the list in advance you could possibly get a Handy-Man to come out and knock off the list in a few hours (Cost by the Hour), and improve the presentation of the home. Some repairs may be very expensive and you may not even know you have a problem.
Step 6 : Hire the repairs done or Lower the price
If you now what needs to be done, you can hire someone, do the repairs, or take into account the cost for repair and offer a discount on your home sale price.
This decision is both an economical as well as timing issue. How long will the repair take and how much will it cost. Many times the repair is loose this or that, holes in either siding or the interior walls. Patching, blemishes and painting goes a long way to improving the appearance of the home. Flooring is another example that is; believe it or not, a big cause of concern. Most buyers look at flooring (carpet, vinyl flooring, and wood floor), as a big concern to moving in. Many do not want to have to delay moving in for the floors to be done.
Another big concern is plumbing. Yes we all know how frustrating that slow drain is; we often just throw a little drain cleaner down the drain and move on. A Home inspector is likely to find this problem and report it. The report will not be specific on that there is a problem, it is a big concern, and Only a professional Plumber can make it right. Maybe, an advanced plumber call could root out the issue easily and it would never be an issue.
Step 7: Put Your Home on the Market
All the advanced decision are made. You put some of your personalized and extra items in storage. The Yard has been given a good grooming; you are now read to put the home on the market. Making sure you has expressed you concerns about visitors to your Real Estate Agents so the can be passed on to agents entering your home with potential buyers. You should have discussed the Commissions for both the selling agent, and buying agent before this step; this is where it will e known to everyone.
Step 8: Accepting Bids on Your Home
Now that you have taken steps 1 through 7, People are coming to your home and looking it over. Someone decides it is just right for them and they will send in an offer. In many cases, you did such a great job in the previous steps you even have multiple offers. Your agent will be able to go over each contract and let you know what it all means. Many times a high offer is not the best offer. There are lots of other things to consider in an offer; this is why we recommend a real estate agent represent you. The bid will come in the form of a binding contract, accepting it makes it a done deal unless there are counter offers. Also as stated above, most offers include a home inspection clause. This means the deal in contingent on a good home inspection; one with blemishes can be rejected outright or negotiated for a lower price or repairs.
Step 9: Completing the contract
The contract is in the negotiating phase. This is what I call the hardest phase; emotions take over and common sense takes a back seat.
I know that sounded harsh. Believe me the arguments that occur (Via emails and counter offers ( not literally)) could fill a book. Again, hiring a professional was your best move for peace of mind. The professionals will eventually get both sides through this phase.
Negotiating is done; the contract is final, and everyone is waiting for the tittle search and the loan approval process.
Step 10: Closing and moving out
Everything has gone to plan. You have your deal, the buyer is happy. The loan is approved and now the big day is coming.
The last thing before going to the table for a whole bunch of signatures is the walk through inspection. This goes well, all agreed upon repairs are done, the home is in the same condition it was when the contract was signed and both parties go to their closing agent.
You sign the right papers, your closing agent shows you the final review of the funds dispersing. You are now moved out and you turn over your final set of keys.
