Ready to sell your house, but not sure where to start? I’m here to help guide you through the entire process. Here are the steps you should take when selling a house.
- Determine how long it will take you to sell
Understanding how long it takes to sell a house is the best place to start the process. It
makes it easier to formulate your home selling plan from the get-go.
There are 2 selling timelines to consider: before listing & after putting your home on the market.
There are several pre-listing factors to consider:
- Hiring an agent
- Prepping your home
- Completing selling disclosures
- Pre-listing marketing
How long your home will take to sell after it has been listed will depend on various aspects, some of which you’ll have control over and others will be out of your hands.
- Market conditions
- Time on the market
- Property condition
- Asking price
- Location on street
These factors will help determine your timeline to sell, and then you can implement the right strategy.
- Understand the costs of selling
Knowing how much you’ll pay when selling can help you avoid any surprises when you’re thick in the process.
Here are a few costs you’ll want to keep in mind:
- Costs to prep your home
- Moving expenses
- Closing costs
- Capital gains tax
- Hire the right listing agent
The agent you hire to sell your home, also known as a listing agent, will be responsible for numerous tasks. Some of these include:
- Marketing your property
- Ensuring you complete the required disclosures
- Assisting in setting the right list price
- Helping you negotiate
But not all real estate agents are good at executing these tasks. Some home sellers end up hiring the wrong person because they don’t know what makes a good agent. So they’ll base their decision on an agent’s personality and likeability. DON’T DO THIS. Ensure you know how to find a listing agent who is best qualified to sell your home.
The qualities you should seek out in an agent include:
- Relevant selling experience
- Stellar reputation
- Prepare your home for sale
Preparing your home can be an emotional part of the process of selling a home. But removing your emotions from the equation gives you the best shot at selling for the best price. So start thinking about this as a business transaction as you begin to get your home ready to sell. Here are the things you should focus on as you go through the prepping process:
- Declutter & maximize space
- Get a pre-sale home inspection
- Make minimal repairs
- Prioritize money-making improvements
- Deep clean
- Complete pre-listing marketing tasks
An effective marketing plan will attract more buyers to your property. That’s why having the right marketing strategy is a key component of selling a house. Rely on your agent to implement the right strategy and prioritize focusing on these three marketing tasks:
- Stage your home
- Take high-quality photos: your home’s photos (and asking price) will be the first thing homebuyers see.
- Set the best listing price: your home is worth what a buyer is willing to pay for it, but how you price your home can attract more buyers AND maximize your selling price.
- Fill out your selling disclosures
Homeowners must disclose certain information about their property when selling. These disclosure documents are meant to provide details about the property’s condition that a potential buyer might find problematic. Here are some examples of things you’ll be required to disclose:
- Water damage
- Neighborhood noise
- Environmental contamination
- Potential risks from natural disasters
- repairs
Never intentionally hide anything. Doing so could result in a lawsuit. It’s always better to over-disclose than under-disclose when selling a property.
- Show your home to prospective buyers
Showing your home to prospective buyers will start after your agent lists your home on the multiple listing service, or “MLS”. This is a key step in the selling process because at this point you’ll start to see how much demand there is for your home. Be flexible and make it easy for buyers to tour your property. It will increase your odds of getting an offer in the shortest time frame. There are two main ways that potential buyers can view your home:
- Open houses
- Private showings: arranged for buyers who can’t attend an open house or want to view your home before others. Your real estate agent can work around your schedule if you’re living in the property while it’s on the market. And keep in mind that it’s never a good idea to be at your home while potential buyers are viewing it.
- Review and accept an offer
A buyer will put an offer in writing via a purchase agreement as soon as they’re committed to buying your home. Your agent will receive the offer from the buyer’s agent and discuss the details with you. You’re probably thinking the purchase price is most important, but there are other factors you should consider before accepting an offer:
- Buyer’s pre-approval and proof of funds
- Deposit amount
- Contingencies
- Start the closing process
There are several steps to selling your house after you accept an offer and before the transaction is final. Here are a few important milestones you should be aware of that start the process of closing a home sale:
- Buyer’s appraisal
- Buyer inspections
- Release buyer contingencies
- Close the sale
The final step to selling your house starts after the buyer releases their contingencies. For many sellers, this happens about two weeks before the sale is final. Here are a few tasks you’ll want to be aware of so you can complete the process:
- Buyer’s final walkthrough
- Signing final documents
- Prep for closing
- Make the sale official
The Bottom Line
Selling a house can feel like an overwhelming process, but following these 10 steps can boost your chances of having the most successful sale.
If you’re looking for support in the home selling or buying process, give me a call! My team and I are on standby 7 days a week, 9am to 8pm, ready to help you take the smoother road to sold.