Is it time for you to sell your home? Are you panicking thinking about the home selling process? What do you do now!? As with anything in the real estate world, first thing is first, find a solid real estate agent. Now more than ever it is important that you are working with an experienced real estate agent. In this article, we will include a list of things to prepare you for the home-selling process from beginning to end! We hope that you find it helpful!
Question: How do I get my home ready to sell?
The key to selling a home is making a good first impression. It is important to put in the groundwork on the front end to ensure that your home is market ready. So how do you do this? What makes a house market-ready? There are quite a few things that make a house market-ready! Take some notes on this list and formulate a plan to start tackling small projects to get your house market-ready!
1. Enhance your curb appeal. Planting some fresh flowers, mulching, mowing, and cleaning out any gutters will go a long way! You can draw buyers in from the outside with a manicured lawn and fresh landscape.
2. Declutter inside and remove all personalized items off the walls and in the house.
3. Get a termite and roof inspection. This is not a must-do, but it would give your buyers more confidence in putting an offer in early on.
4. Repaint any walls that need a refresh along with any trim.
5. Do small updates such as switching out light fixtures or upgrading appliances.
6. Remove any odors from the house- the smell is a big factor when someone steps into your home. Be sure to have carpets cleaned and remove any pet or animal odor that might be taking up residence in your home.
These are the top things that will be the quickest and most helpful in selling your home. Do what you can with what you have; it will pay off once your house hits the market.
Question: How much is my home worth and what should we list it for?
When it comes to listing your home, nailing the right price point is important. This is something that a good realtor will help you nail down. Your real estate agent should do a comparative market analysis (CMA), comparing your property to recently-sold homes that are in your area to help you arrive at a more precise price. Realtors specialize in pricing homes as they have the resources and experience to run market analytics. These analytics will help you settle on the perfect price point. It is also important to be realistic in knowing what your home is worth verse what you think it is worth. Most people believe based on their sentiment towards their house and the upgrades they have completed, that their home is worth more than it is. Working with a well-established realtor will help you understand the numbers and come to an appropriate list price.
Question: What should I avoid doing when selling my home?
The first thing that you should avoid doing when selling a home is trying to do it all on your own. Utilize your realtor to ensure that things are done properly and in the right order. Realtors are there to be your aid in the process¬ – trust and rely on them. Not anticipating the costs that come with home selling is another mistake to avoid. When selling a home keep in mind these common costs:
• Agent commissions
• Closing costs: 1-3% of your home price
• Staging costs: on average $1,500
• Inspection repairs: This number will vary based on which inspections you choose to do before listing.
• Seller concessions: Any items that buyers might ask for you to include in the sale, such as a washer and dryer or helping with closing costs.
• Moving expenses: This number will vary greatly based on where you are moving to and the size of your home. Do your research to ensure that you are prepared for the costs that come with packing and moving.
Note: These numbers are just estimates and may vary in different situations.
Question: What if the sale falls through?
Take a deep breath and regroup with your agent. Home sales do fall through. This is just as much out of your control as it is your agents. The listing will simply go from “pending” back to “active.” You will start the process of showings and offers again. If your listing fell through due to an overwhelming list of repairs, it is best to fix as many as you can and re-list the property. If tackling the repairs is not possible, your agent will advise you to disclose them when you relist the home. This step will ensure that the same thing does not happen with the next buyer. Transparency and patience are key in selling a home, hang in there and it will happen!
Question: How long will it take to sell my home?
You have decided to sell your home and now you just need someone to tell you how long this process will take. Unfortunately, there is no magic number that can sum up how long it takes to sell a house. However, there is a process that we can walk you through and a brief timeline of how these steps usually play out.
• List your property: Once you have met and chosen a real estate agent you will list your property and start your showings – bring in the offers!
• Accept an Offer: Once you get the offer that you feel comfortable with, your realtor will coordinate with the buyers agents to accept it and move to the next phase.
• Inspection and Appraisal: Appraisals are completed within a few weeks. Appraisals ensure the buyer that the home they are purchasing is worth its listing price. Inspections help buyers to understand what might need fixing or determine if there are any causes for concern.
• Closing Negotiations: Once the buyer receives the inspections and appraisals they will ask for a list of repairs, and you will enter the negotiation process for these items.
• Closings: You made it to the finish line! You will now sign closing documents and hand over your keys to the new homeowners and receive your payout from the sale.
That concludes our summary of helpful home selling questions. We understand that the home buying and selling process can be daunting at times! We hope that you find this information helpful as you begin the process of selling your home! Let the fun begin!