AM I READY TO SELL?
Assess Your Readiness
- Financial Considerations: Evaluate your mortgage payoff amount, closing costs, and potential capital gains taxes.
- Market Timing: Analyze the real estate market trends to choose the best time to sell.
Tip: Consult a Financial and Tax Advisors to understand the implications of selling your home.
Pre-Sale Home Inspection
- Hire a Professional Inspector: Identify potential issues that might affect the sale.
- Address Repairs: Fix any major problems that could deter Buyers or lower your home’s value.
Tip: Small upgrades, like fresh paint and updated fixtures, can increase your home’s appeal.
SELECT A REAL ESTATE AGENT
Selecting a Realtor®
- Research and Interview: Choose a Realtor® with experience in your neighborhood and a proven track record.
- Check References: Ask for client testimonials and check online reviews.
Tip: A good Realtor® will provide a comprehensive marketing plan and clear communication.
Discuss Your Goals
- Set Expectations: Discuss your desired timeline, price range, and any special considerations.
Tip: Choose a Realtor® you feel comfortable with and who understands your priorities.
How much is your home worth?
Most property Sellers tend to overestimate their property’s value in the absence of a professional Agent. By speaking with a knowledgeable Real Estate Listing Agent, you may clear of this potential problem.
Your Realtor® will compare recently sold homes in your area (CMA-Comparative Market Analysis) and adjust for differences (upgrades, condition, and unique features of your home.)
Tip: Pricing your home competitively is crucial for attracting Buyers and selling quickly.
Set a Realistic Price
- Take into account the current supply and demand in the area.
- Price your home at a value that reflects its market position and appeals to buyers.
Tip: Avoid overpricing, which can lead to your home sitting on the market longer and missing potential prospects.
PREPARE TO SELL
When putting your house up for sale, bear the following points in mind:
- Curb Appeal. Freshen up the landscaping, paint the front door, and clean the exterior.
- Property Repairs. The home will be quickly brightened with simple modifications like painting the most used rooms, cleaning the doorknobs, and fixing the windows.
- Maintain a clean, well-lit, and fragrant property from top to bottom. Pay attention to the little things: clean your carpets, store fresh flowers in a vase by the door, bake some cinnamon buns, and put away your cat litter. Before the property is put on the market, your agent will inspect it to determine how best to stage it.
- Staging Your Home. Remove personal items and excess furniture to make rooms appear larger.
Tip. Ensure the entrance is inviting and well-maintained.
Market Your Home
Your Realtor® will create a Marketing Plan
- Should help you determine the highest possible selling price for your home.
- Recommend repairs to be done to get the most out of the sale.
- Hire a professional Photographer to take high-resolution images.
- List your home on the Multiple Listing Service (MLS).
- Schedule open houses and private showings to attract potential Buyers.
Tip: Highlight unique features and upgrades in your home’s description.
ACCEPTING AN OFFER
Receiving Offers
- Offer Review: Your Realtor® will present all Offers and help you evaluate them.
- Consider Contingencies: Pay attention to financing, inspection, and appraisal contingencies.
Tip: Don’t just focus on the Offer Price; consider the Buyer’s financial stability and timeline.
Negotiation Process
We take very seriously our ethical obligation and fiduciary duty to negotiate contractual conditions fairly. As your Representatives, we promise to thoroughly and impartially evaluate each Offer to assist you in making the best decision.
- Counteroffers: Negotiate terms to achieve the best possible outcome.
- Final Agreement: Reach a mutually acceptable Agreement and sign the Contract.
Tip: Stay flexible and open to negotiation to facilitate a smooth transaction.
UNDER CONTRACT, INSPECTIONS & APPRAISAL
You signed all the documents, now what?
Option Period, Option Fee
The Title Company’s Escrow Account will hold the Option Fee and Earnest Money (around 1% of the price of the home), subject to the satisfaction of any conditions or contingencies outlined in the effective Agreement.
Home Inspection
Most Buyers will arrange for a Licensed Property Inspector to assess the asset within the time frame specified in the contract. If they want expert opinions from Inspectors who specialize in a certain area (e.g. roof, HVAC, structural, etc.), some Buyers will have the property inspected by multiple Inspectors. Most of the times after the inspections, buyer might ask you to do some repairs or to have a price adjustment due to some of the findings in the inspection report.
At this point you will need to decide which repairs you are silling to make or you can negociate credits.
Tip: Respond promptly to Buyer requests to keep the process moving.
Appraisal
If financing is a requirement of the Agreement, the property will be valued by a Certified Appraiser on behalf of the Lending Institution through a third party. This is done so the loan organization can verify the accuracy of their investment in your home.
- Buyer’s Inspection: Be prepared for the Buyer’s home inspection and possible repair requests.
- Appraisal: Ensure the home appraises at or above the agreed-upon price.
Tip: Keep your home clean and accessible for Inspectors and Appraisers.
Title Company
CLOSING THE SALE
Final Walkthrough
- Prepare for Walkthrough: Ensure the home is in the agreed-upon condition and all repairs are completed.
- Move Out: Remove all personal belongings and leave the home clean.
Tip: Address any last-minute issues to avoid delays in Closing.
Closing Meeting
- Sign Documents: Sign the deed, settlement statement, and other necessary paperwork.
- Receive Payment: Collect the proceeds from the sale after paying off any remaining mortgage balance and closing costs.
Tip: Bring all required identification and documents to the closing meeting.
Post-Sale Considerations
Transfer Utilities and Services
- Notify Providers: Inform utility companies, cable, and internet providers of your move.
- Forward Mail: Set up mail forwarding with the USPS to ensure you receive important correspondence.
Tip: Cancel or transfer any recurring services linked to your old address.
Celebrate Your Success
- Plan Your Next Steps: Whether moving to a new home or starting a new chapter, embrace the journey ahead.
Tip: Stay in touch with your Realtor® for future real estate needs and referrals.
Conclusion
Selling your home can be a complex process, but with the right preparation and the help of a knowledgeable Realtor®, you can navigate it successfully. From assessing your readiness to closing the sale, each step is crucial in making your home-selling journey a success. Follow this guide, stay organized, and maintain open communication with your Real Estate Agent to ensure a smooth and rewarding experience. Best of luck with your new adventure!
A password will be e-mailed to you