Selling your home can be a stressful process, after all, there’s a lot to consider. We want to make sure that you’re well-informed of the selling process and know what to expect every step of the way.
Step 1. Choosing an agent
When it comes to selling your home, one of your most valuable assets, it makes sense to take the time to choose a qualified and knowledgeable sales agent who has the right tools, experience, and strategies at their disposal.
When speaking with an agent don’t be afraid to ask questions to make sure you trust your agent and to make sure you’re confident they have the experience to sell your home quickly and for the best price.
Some of the important things to consider are:
- Is your agent qualified?
- Is your agent experienced?
- Is your agent focused on you?
- Is your agent able to achieve the right result?
Step 2. Preparing your home for sale
When preparing your home for sale, what are some of the top tips for attracting more potential buyers and higher offers?
- De-clutter. The first tip is the simplest. It’s a must to clean and tidy your home before a showing, but it’s crucial to also get rid of clutter that could stand in the way of a potential buyer picturing themselves within the home.
- Repair. Sometimes a simple repair can be a distraction for potential buyers. Talk with your agent about what some of these might be, and if reasonable, go ahead make those repairs before you open the home for showings.
- Style. Once clutter-free, consider using a home staging service. The results can be dramatic, but it may not be needed. Discuss with your agent to see if staging will is a smart investment for you.
- Photograph. Insist that your agent use professional photography to take quality, well-lit pictures of your home. After going to the trouble of updating, de-cluttering and staging your property, the last thing you want to do is turn people away before they’ve even seen your home.
Step 3. Pricing your home for sale
The most difficult task for most sellers is determining the value of their home. Many different elements can combine to create unrealistic expectations. The best method is to study the current real estate market facts and figures. Your agent will show you comparisons of other similar homes in your area – those which have sold, those which have yet to sell and those which will represent your competition. Quite simply, the current property market determines the value of your home.
Step 4. Choosing a method of sale
With October Realty Group, there are TWO methods of sale that you can choose to sell your home – traditional or auction. The better method for you may be based on several factors, but your agent can discuss the advantages and disadvantages of each and together, you can decide which is best.
Step 5. Accepting an offer
Once you have chosen your method of sale, and gone through the marketing process with your agent, the next step may be to consider an offer from a potential buyer. Most every purchase offer has conditions or contingencies. Common conditions of sale are subject to:
- Inspections
- Appraisal
- Finance/loan
- Sale of another property
Once an offer has been accepted and all parties have signed the contract, the purchaser will be asked to pay a deposit. This usually equates to 3% of the purchase price.
Step 6. Completing the sale
Settlement generally takes place between you and the purchaser and your legal/financial representatives. As the seller, you would have set the settlement date within the contract of sale. Settlement usually occurs 30-90 days after the contract has been signed, depending on what has been agreed upon.
Possession of the property usually takes place on the settlement day although you and the buyer can agree for these dates to be different.
See Also: Selling at Auction, The Seller’s Checklist