Traditionally spring and summer are “prime time” when it comes to buying and selling homes. If you’re considering selling your home this year, ask your realtor about your particular market. What is the average time that homes stay on the market in your area and price point? That information combined with other factors (such as your home’s condition, amenities, and price) will let you know if you should prepare for a sales marathon or sprint.
For example, do you live somewhere where, once you put your home on the market, you can expect to receive multiple bids or get more than your asking price? Or, is it a buyer’s market where many comparable houses are for sale and prices have slowed/plateaued (or even decreased)? Knowing the answer is helpful to figuring out your sales strategy.
Whenever you plan to sell your home, here are the steps you’ll likely go through.
Prepare Your Home
Now is the time to tackle that “to do” you’ve been meaning to get to — touch up paint, organize closets, get rid of junk. Are all major home systems in good working order (heating, A/C, roof, appliances, etc.)? Anything that is not working will need to be disclosed to a potential buyer, so you may want to fix those items now too. Not sure which projects make sense to do and which can be ignored? Consult your realtor. Spending a little money now could mean a faster offer or a better sales price.
You’ll also want to ask to your agent about what seller disclosure statements, forms, and environmental records may apply to your home.
Find an Agent
In the maze of forms, financing, inspections, marketing, pricing, and negotiating, it makes sense to work with professionals who know the community and more. Take a look at our team and see what our clients have to say about us. Call us today!
Price Your Home
Your realtor will recommend a price for your home based on many factors, including market conditions, interest rates, home condition, and your personal sales goals. Home selling is part art, part science, part marketing, and part negotiation. Understand your price so that you can feel comfortable it will achieve what you want.
Understand the Marketing Plan
Your realtor will discuss a marketing plan with you, and it may include things like advertising, signage, flyers, and open houses. The more you know about the process of selling your home the easier it is to support your realtor’s efforts.
Negotiating an Offer
Perhaps the most critical moment in the sales process comes when you get an offer for your home. You’ll have a chance to negotiate not just price but other factors such as move out date, inspection/option period, earnest money, and closing costs.
Once you have a signed contract with the buyer for your home, you are on your way! Your realtor may recommend continuing to show your home and perhaps even get a backup offer in place. Regardless, the next step is usually to move past inspections and the appraisal. Although things are looking good, you can only completely relax when you get to the settlement table.
Plan Your Move
Unless you negotiated a leaseback in the sales contract, you will usually move out once the sale of your home becomes final. Some of the activities required to sell your home can actually help with the moving process. For example, by cleaning out closets, the basement, and the attic, you will have less to do once your home is under contract.