Selling your home is a big step. There can be many reasons for selling a home. Some people need more space and want to move into a larger home. Others simply want to downsize. The reasons for selling are endless. If you decide to sell your home, you should know the six basic steps.
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🙋♀️ Find the Right Real Estate Agent
One of the first things you should do when deciding to sell your home is to find the right real estate agent. You want to deal with someone who is experienced and has a good reputation within the real estate industry.
Your real estate agent is going to represent you from the time you list your home for sale all the way to closing. Therefore, you want someone who will always negotiate in your favor and work hard to get you the best deal.
🏡Staging Your Home for Buyers
The importance of staging your home when you are trying to sell cannot be overstated. You need to make your home visually appealing and inviting. When a buyer looks at your home, you want them to be able to picture themselves living there. You also want your home to appeal to a large number of buyers. It’s wise to use neutral colors when painting rooms. Make sure the home is clear of clutter and extra furniture. This will ensure rooms look spacious and inviting.
💲Set the Right Asking Price
You will want to do your market research when pricing your home. If you price it too high, your home may spend too much time on the market. If the price is too low, you will be short-changing yourself which could cost you thousands. Your real estate agent will provide you with a comparative market analysis which will show you comparable sales in your area. You should also check your county tax appraisal. This amount is usually lower than your actual home value, but it will give you an idea of where to begin when pricing your home to sell.
💵 Accepting an Offer
If you’re fortunate, you will get many offers. Your real estate agent can help you decide which offer is best. Once you’ve decided upon a buyer, they may try to negotiate the price. You may go back and forth with the buyer before you finally accept an offer. Once you are satisfied with an offer, it is time to inform the lucky buyers that you are accepting their offer.
📝 What Happens After You Accept an Offer
Once you accept an offer, your attorney will prepare a purchase agreement and send to the buyer’s attorney for review. The buyer will then schedule an inspection of your home. An inspector will check the plumbing, electrical system and other structural elements of the home. If any repairs need to be made, this is the time when you may be required to make such repairs in order to proceed with the transaction. If the home passes the inspection, the buyer will then schedule an appraisal which is usually performed by the buyer’s lender. If the home appraises, you can proceed to closing. If it doesn’t appraise, you will go back to negotiating with the buyer.
📆 What to Expect on Closing Day
The day you’ve been anxiously awaiting is finally here. The closing is just as exciting for the buyer as it is for you. It is possible that you may not have to attend the closing. You may be able to sign all necessary documents prior to the closing. The buyer, on the other hand, will have to attend the closing so they can sign required documents. They will write a check to the title company, who serves as the escrow agent, for the down payment and closing costs. Any funds due to you will be deposited into your bank account via wire transfer. Once that takes place, the closing is complete, and you are no longer the owner of the home.
The decision to sell a home can be a stressful one. You are not going to sell your home overnight. It could take several weeks or months. Your real estate agent will provide you with valuable advice throughout the process that will ensure you do sell your home as quickly as possible and with the most return on your investment.
Your real estate agent is the best source of information about the local community and real estate topics. Give Rita Boswell Group a call today at 614-830-9767 to learn more about local areas, discuss selling a house, or tour available homes for sale.