Step 1: Evaluating Your Home
The first step to selling your home is to evaluate the home's condition. It will be important to address any cosmetic or functional problems and discuss potential upgrades or improvements that may bring additional value to your sale. Note that some problems may require disclosure to potential buyers. We will discuss the findings and available options to help ensure your home is in the best condition possible for attracting buyers.
Step 2: Choosing An Asking Price
Several key factors play a role in setting a competitive list price for your home, including location, condition, age, supply and demand, and the current local market conditions. A Comparative Market Analysis (CMA) of recently sold homes in your area can provide valuable insights. You might also consider getting a professional appraisal of your home. Understanding the market value is crucial to a successful sale, and these factors will help you determine the right price to list your home.
Step 3: Getting Market Ready
Getting your home ready to sell can significantly impact what buyers are willing to offer. There are three main areas to focus on: maintenance and repairs, renovations and upgrades, and staging. Preparing your home might involve tasks like decluttering, addressing any maintenance issues, refreshing paint, and improving the landscaping. It could also be helpful to have the home professionally staged. The goal is to ensure your home makes a great first impression and attracts the best possible offers.
Step 4: Listing Your Home
Once your home is ready to be listed, I’ll arrange for professional photos to be taken. Your home will then be listed on the local MLS and shared with local brokerages and agents. To maximize exposure, additional marketing strategies may be implemented to reach the right audience. A tailored marketing plan will help draw in the ideal buyer for your home.
Step 5: Home Showings
After your home is listed, showings will start taking place, and hosting an open house might also be a good idea. Usually, homeowners are not present during showings, but you'll be notified ahead of time about scheduled appointments. Showings can be arranged during specific hours to make sure it’s convenient for you, helping create a welcoming environment for potential buyers.
Step 6: Receiving Offers
A buyer will submit an offer, or possibly several, which you can choose to accept, counter, or decline. If a counteroffer is made, negotiations will continue until both parties come to an agreement, or you decide to reject the latest offer. These discussions can cover various factors, such as the sale price, concessions, and financing terms. Once an agreement is reached, you’ll be officially under contract!
Step 7: Appraisal & Inspection
Once both parties come to an agreement, the buyer might schedule an inspection and appraisal to assess the home's condition and value. If any issues arise from these reports, we may need to renegotiate until everyone reaches a consensus. Depending on your negotiation tactics, you might opt to make requested repairs to strengthen other parts of the deal.
Step 8: Closing!
It's closing day! The buyer's lender will give the final approval to proceed, and you'll sign the necessary documents to finalize the sale. This usually takes about one to two hours. After all parties sign, the title company will transfer the sale’s net proceeds to your bank account, and your home will officially be sold!
