There’s a science to selling your house, and we’re here to help you find just the right formula for success. Understanding the home selling process will help you when it comes to selling your home for the highest return on your investment in the shortest amount of time. Check out these six steps before you list that house!
Find The Right Real Estate Agent
Finding the right real estate agent is a crucial part when selling your home. You need to find an agent who is both trustworthy as well as tenacious, which can be a tricky combination. One of the best ways to find an agent is through referrals. Instead of wading through the seemingly endless list of agencies in the yellow pages and on the internet, instead reach out to your homeowner friends and other networks. Look particularly for friends or associates with similar interests and preferences and home selling ranges (perhaps in the same neighborhood). Ask for recommendations and collect a list of potential options. Make sure to have a list of questions prepared as well as a list of priorities ready for your meetings with agents.
Staging Your Home for Buyers
Seeing is believing in real estate. If potential buyers see your home in disarray, an appraisal may not be enough to sway the right buyer. Therefore, staging your home will make it seem far more appealing. There are a number of professional home staging agencies you can reach out to, at a variety of price points. This is a good option if you have extra cash, as professional stagers may even bring in attractive furniture and art, bringing an extra flair to the property. However, if you do not have this disposable income, small touches will go a long way in staging. Always have the home clean, of course, but fresh flowers, a manicured lawn, aromatics, and warm lighting will always bring a bit extra to showings.
Setting The Right Asking Price
Before setting a price on your home, make sure to look at the comparables in your neighborhood. Comparables are the recent sales in your area. When you measure the comparables against your recent tax assessment, and a recent appraisal, you should have a good idea as to the actual value of your home. However, be sure to take into consideration any improvements you have made to the property, particularly if they are significant (like an addition, a new structure, or major roofing, lighting, electrical, or heating installations). Have a price in mind that you hope to fetch for the property based on this information, and then decide how much over this price you think you can make and still find attractive home buyers. There will always be a price negotiation, and you do not want to end up with a price that is below your floor, or worse, lower than the actual value of the home. Work with your real estate agent on this process.
Accepting An Offer
Once you have attractive offers, take other things into consideration other than the finances. Perhaps you have built a strong rapport with your neighborhood, and a potential buyer would not blend well with the neighbors. Perhaps you have a vested interest in keeping the property intact, and you know one potential buyer wants to raze the house and rebuild from the ground up. Obviously, taking the highest offer will give you the best options when purchasing a new home, but there may be other considerations as well. Also, be sure to work with the real estate agent in order to assess potential buyers and their motivations.
What Happens After You Accept An Offer
Once an offer is accepted, generally the onus is on the buyers to move the process forward within the legal limits of the offer period. Buyers must get their preapprovals to the approval stage and schedule the inspectors, assessors, and appraisers to finalize their agreements for the home. You may also want to move forward with your own home buying plans if you are selling your primary residence. There could be snags during this process, but generally at this stage – and particularly after escrow – the lawyers and agents will be working on your behalf moving quickly toward closing.
What To Expect On Closing Day
Closing days should move smoothly and effortlessly, so long as there were no major snags during preapproval or after escrow. This involves a lot of paperwork and signing, as the deed transfer needs several copies of documents for all parties as well as originals for the actual recording of the new deed on the property. You may handle the closing with the home buyers or at separate times, but make sure to double check all closing paperwork before signing the deed and any new mortgage paperwork. Once the deal is finished, you may need to wait three days (often called a “cooling off” period) before the ink is truly dry and the deal is entirely finished.
Your real estate agent is the best source of information about the local community and real estate topics. Give the Rigley Realty Group a call today at 916-396-7487 / 916-397-4787 to learn more about local areas, discuss selling a house, or tour available homes for sale.