A STEP-BY-STEP FIRST TIME SELLER'S GUIDE
Selling your residence can sometimes be a daunting task, particularly when uncertainty looms over the process. Thankfully, armed with a seasoned agent and this user-friendly manual, you can navigate through the journey seamlessly. Adhering to these guidelines will assist you in readying yourself, ensuring proper organization, and maximizing the selling potential of your home.
STEP 1: UNDERSTAND WHY YOU'RE SELLING
What are the underlying objectives guiding your decision to sell your home? Are you striving to attain a specific financial milestone to elevate your housing circumstances? Alternatively, is there a pressing urgency necessitating a swift sale, such as a relocation to a different locale? By discerning your motivations, you can approach the process with greater foresight and intelligence. For instance, if time sensitivity is paramount, adopting a pricing strategy that prioritizes expediency over maximal profit may be a more astute move. Ensure that you articulate these nuanced considerations to your real estate agent, empowering them to tailor their approach with sophistication and insight.
STEP 2: DETERMINE SELLING PRICE
Understanding how to effectively price your home is crucial during the selling journey. By establishing a fair price from the outset, you're likely to attract heightened interest from both real estate agents and potential buyers. Overvaluing your property risks diminishing interest, while undervaluing it may result in receiving less than its true worth. Collaborating with a seasoned real estate agent offers the most reliable method for pinpointing the optimal selling price for your home. Drawing upon their expertise, an agent can analyze the selling prices of comparable properties, assess prevailing market conditions, and potentially recommend a professional home appraisal.
STEP 3: START PREPARATIONS
If you've managed to maintain your home in impeccable condition throughout your time living there, you're among the few homeowners who have done so. After determining the price of your home, it's essential to prepare it for potential buyers. This involves decluttering, depersonalizing the space to allow buyers to envision themselves there, addressing any minor repairs, and conducting a thorough cleaning to ensure your home is presented in flawless condition.
STEP 4: DEVELOP A MARKETING STRATEGY
I will craft a tailored marketing strategy specifically designed to showcase your home effectively. This entails listing the property and directing the appropriate audience to the listing via various channels, including social media campaigns, agent-to-agent referrals, traditional media avenues, or SEO advertising. My team will orchestrate a comprehensive marketing campaign focused on generating maximum traffic to your listing within the initial three weeks of our collaboration.
STEP 5: EVALUATE OFFERS
Receiving an offer marks a significant milestone, yet it doesn't signify the conclusion of the journey. We meticulously assess each offer, ensuring that the offering party is prequalified or pre-approved by a mortgage lender and that their proposal aligns with your preferences. Should the offer fall short of expectations, there are avenues to explore, such as presenting a counter-offer or proposing alternative solutions to narrow the gap. These may include covering some or all of the closing costs, addressing repairs, negotiating the move-in date, or leaving certain appliances or fixtures for the prospective buyer.
STEP 6: ACCEPT AN OFFER
Upon accepting the offer, we will carefully examine the proposed contract to ensure that it covers all essential elements. These components include the deposit amount, down payment, financing terms, inspection rights, repair allowances, contingencies, settlement date, and a comprehensive list of fees and their responsible parties. Once both parties reach an agreement on the terms, your agent will prepare the final contract.
STEP 7: GET READY TO CLOSE
You have accepted an offer and are now very close to the end of your selling journey. But first, you and the buyer must make a list of what needs to be done before closing. In some cases, your home may need to be formally inspected, surveyed, and appraised. In other cases, major or minor repairs will need to be made before the house can close. I will head up efforts to develop and execute this list, get each action item paid for by the correct party, and make sure everything is in order by the closing date. A few days before the closing date, we will call the company closing the transaction to make sure everything is ready to go. If you haven’t done so already, you also need to make arrangements to move out of the home so the new buyer can take possession.
STEP 8: CLOSE
You’ve reached the last step in the seller’s process. When you close on a home you are selling, you are legally transferring ownership of the property to the new buyer. We will meet with the company closing the transaction to sign the final paperwork and go over any issues that have not yet been taken care of. During this time, you can also make plans with your REALTOR to handle final details such as canceling utilities, cable, and lawn or trash services, changing the name on accounts that the new owner is retaining and ensuring the new owner has instructions for all appliances that will remain in the home.
CONGRATULATIONS!
Once you have sold your home, you’re free to take the next step on your journey. Whether this is relocating to a new city, moving into a larger home, or downsizing and enjoying your life as empty-nesters, knowing all your selling responsibilities have been taken care of will help you achieve peace of mind for your new path.