The process of selling your home can feel overwhelming, especially if you don't know what to expect. It's important to understand what it takes to get your home ready for the market and sold for the most money.
5 common steps for selling your home:
1. Figure out what your home's market value is.
There are numerous sites (including ours) that can provide you with a quick automated evaluation of your home. This is a great starting place. However, it is best to contact a local real estate agent that can analyze the data and determine a more defined sales prices based on things like the condition of your home and the recent sales in the area. It's important to speak with a Realtor that is familiar with the area to make sure like properties are being used to determine the value of your home. It is also important that your Realtor is familiar with how an appraiser determines the value of your home and what type of adjustments will be made. For instance, if your home has a pool but a home down the street with the same floor plan sold that doesn't have a pool, your agent should know how that affects the value of your home.
2. Complete an inspection of your home.
We all know that first impressions are very important. Before you put your home on the market you should take a look at the condition of your home. Are there any items that need to be fixed? Could your home need a little help with curb appeal or possibly paint? A Realtor can do a walk-thru of your home to help determine any cosmetic items that need to be fixed and also recommend any areas that need attention. You can also hire a home inspector to inspect your home for any repairs that need to be made. It's also good to know if there are any items that would come up during the buyer's inspection period, it's always best to avoid any surprises that could compromise the sale.
3. Declutter and Clean your house.
It's important to declutter your house as well as clean your home prior to listing it for sale. You may want to hire a professional cleaning service to give your home a deep cleaning, including washing the windows. A clean, fresh smelling home that is move-in ready is what most buyers are looking for. Try to remove any knickknacks or excess furniture so your home looks open and free of clutter.
4. Complete the listing paperwork with your agent.
Once you are ready to put your home on the market, your real estate agent will prepare the listing documents for you to sign. Your agent will go over each document and also discuss the purchase contract. In addition, you will be asked to fill out the HOA Addendum and the Seller Property Disclosure Statement (SPDS) to have ready for a buyer. The HOA Addendum discloses your HOA dues as well as any HOA fees associated with selling the property. You can call your HOA to get this information.
The SPDS gives you the opportunity to disclose material items about your home, utilities and the area. Also, you will be asked to contact your homeowner's insurance company for a claims history report. Be prepared to provide an explanation for any claims that you have made.
Your agent can go over the process with you and let you know your responsibilities according to the contract.
5. Find a buyer and close.
Your agent will help you get your home ready to be put on the market. PAfter that professional photographs will be taken and finally your home will be Active on the MLS. Your home will be marketed to potential buyers. Since the 92% of buyers begin their search online, your home's online presence is important.
Once you complete the negotiations with the buyer you will have an Executed Purchase Contract and you can proceed with the transaction of selling your home. The buyer will complete all inspections within the first 10 days (unless otherwise stated on the Purchase Contract), an appraiser from the buyer's lender will come out to determine a market value, and the buyer will complete the financing process.
During the process, you will need to get ready for your move so you can be out of the property in time for the close of escrow. It is important to keep all utilities on so the buyer can complete a final walk-thru prior to closing. You will need to contact your utility companies to transfer the service out of your name and into the buyer's name. Your house may need some cleaning after you have your items moved out, so allow some time for clean up. It's best to pass on your home to the new owner clean and ready for move-in.
As it gets closer to closing, the title company will schedule a time for you to sign the necessary documents. Once the buyer's loan documents are at the title company, the buyer will schedule a time to sign the loan paperwork as well as other closing documents. When the buyer's lender approves the paperwork the title company can then send a request to the county to record the sale of the home. Once it records then the property transfers to the new owner.
Of course, your Realtor will help you every step of the way and keep you informed about the process, that is if you choose the right one...
Contact us today for a free phone consultation about how we can make selling your home easier.
