There’s more to selling a house than running to the hardware store, purchasing a for sale sign, and placing the sign in your front yard. There are legal matters, the real estate market, and your own timeline needs to consider. What you don’t know about the home selling process can cost you money and cause delays in the sale of your house. Before you move forward, learn more about the 6 steps to selling a house.
Step 1 – Real Estate Agent
You may be tempted to sell your house without the help of a real estate agent. Proceeding in this manner can cost you money and cause your house to remain on the market far longer than it should. Consider everything you know about the legalities of selling a house and your current knowledge of the real estate market. Compare that knowledge to the years of experience and training that your real estate agent brings to the table. In order to sell your house as quickly as possible and with the least number of bumps in the road, you want a qualified real estate agent working on your behalf.
Step 2 – Show Ready
During the time your house is on the market you want to keep it show ready. Make any repairs that are needed and keep the décor neutral. Replace worn items throughout the house and get things organized. Neat looking cabinets and closets are impressive and make a big impact. Remove personal photographs, collections, controversial items, weapons, and valuable treasures. Your house should be ready to show with just a moment’s notice.
Step 3 – Asking Price
You’re going to set the asking price for your property based on the current value, the real estate market, and other factors. Your real estate agent will provide you with a comprehensive report that helps during this part of the process. Keep in mind that the asking price and the selling price are two different things. What you hope to receive from the sale of your house is the asking price. What the buyer is paying for your property is the selling price. Price your house competitively from the start so that these two amounts are as close as possible.
Step 4 – Marketing
With information ready at the touch of a button, it’s even more important to market your house aggressively. There are quite a few homes trying to get the attention of potential buyers, and you want your house to stand out from the rest. Discuss the marketing plan with your real estate agent. Key points to focus on are good photographs, staging, online listing through the local MLS, and open houses. Fortunately, your real estate agent will handle these things for you. Isn’t that a relief?
Step 5 – Inspections and Contracts
When someone is interested in buying your house, they will submit an offer. Once the offer is accepted, you are on the road to closing day. A Purchase and Sale Agreement is drawn up between you and the buyer. This agreement lists all the conditions of the sale. Your property will undergo several inspections to check for pest problems, structural concerns, and make sure the household systems are running properly. Terms are subject to negotiation if an inspection shows that something needs attention. Your real estate agent is there through every step and will communicate with you often.
Step 6 – Closing Time
Once the inspections are complete and closing day is approaching you will enter the escrow period. Necessary paperwork is completed during this phase. All fees will be paid on closing day and you’ll hand over the keys to the house, unless other arrangements were made previously.
The best source of information about local communities and real estate topics is your real estate agent. Contact Yamel Ramirez Maynard at 818-732-1475 or Rob Maynard at 818-917-8060 to learn more about the area, to discuss selling your house, or to tour available homes for sale.