Home Selling Guide
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Step 1:Get an agent
When it comes to selling a home it pays off to use an experienced, knowledgeable and skilled real estate professional. A real estate transaction will be one of the biggest financial investments you might experience in your life.
The home selling process is complicated, and doing a wrong decision can become a big risk. Therefore it pays off to invest in a good agent, whom you can fully trust.
An agent will guide you through the whole home selling process till the closing date. Whether it comes to pricing your home for sale, advertising your home, negotiating with the buyer and etc.
Step 2:Determine a selling price with your agent
An Experienced Real Estate Agent will help you to price your home correctly. In order to do that, your agent will evaluate your home, compare it to other listings on the market and determine an appropriate selling price with you.
The next logical step is to find out what your home’s fair market value is. If you’re using a real estate sales agent, they will often help you determine this value as a courtesy, and maybe even give you some helpful ideas on how you can increase the value of your house.
Step 3:Get your home ready to sell, with the right repairs and preparations
A good first impression will help sell your home and makes a big difference in how your house is perceived by prospective buyers.
If your house is in a good condition and it needs little or no repairs, you can sell to a higher price and faster. Therefore prepare your house and make the first impression being a good one.
Prepare your home by implementing all necessary repairs, the house should be clean, when possible staged and decorated. A staged room sells better and looks bigger than an empty room, but don’t over-stage your house. I advise you to depersonalize the house as much as possible.
Whatever you spend on remodeling, you always have to keep in mind how much you recover for every dollar you spend. Consult your agent and find out what repairs and steps should be done to get your house sold.
Do you want to do the repairs, cleaning and staging yourself or hire qualified professionals? Then learn more about Lily Garipova’s offerings on renovation and remodeling services, in the remodeling section.
Step 4:Advertising and showing your house
A real estate professional has more resources and methods available to market your property than you.
After your property has been prepared for open houses and showings, your agent will market the property to other real estate sales professionals and the public.
Representing your home to other real estate sales professionals through the Multiply Listing Service (MLS)
Providing for sale signs to get more exposure
Holding property open houses and scheduled showings
Step 5:Screening prospects and negotiating
After a buyer has submitted an offer to purchase, and the pre-approval, you may or may not write a counter offer. A counter offer will demonstrate that you have accepted the offer, including the amount of earnest money.
There are three different ways of counter offers, either you accept, decline or counter-bid and address particular items.
Your real estate sales agent will help you to pre-qualify potential buyers to ease your decision.
However, the final decision if you accept the offer or not is always yours. When it comes to negotiations, your real estate agent will assist you and be the liaison between you and the seller or seller’s agent.
Step 6:Opening escrow
When both, you the seller and the buyer agree to the conditions and the opening escrow offer has been accepted you will go through the escrow process.
Your agent will guide you through until the closing date, which can take several weeks.
Within this time you receive instructions from the escrow officer and have to accomplish paperwork and everything else instructed by the officer. The escrow company has to verify that all parties of the transaction are treated honestly and fairly.
Step 7:Home Appraisal
The appraiser will compare your property with similar properties nearby to help determine the value of your property. An appraisal contains an interior and exterior inspection of your property.
This step is required by the buyer’s lender to support the price agreed upon in the offer.
When the buyer’s loan is approved, you and your agent will receive more instructions from the escrow officer to follow up with.
Step 7:Closing the Escrow
The escrow can be closed when all required documents and assignments being fulfilled by you and the seller.
Your agent or escrow officer will contact you to make an appointment to sign the final documents and to close the transaction. By the date the escrow is closed, the property title will be legally transferred from you to the buyer.
Things to know when selling a house
Costs of selling a house
Since selling a home is very complicated, it is recommended to work with an experienced real estate professional.
Costs to expect when selling your house include the agent’s commission, fees for the appraisal, inspections, possibly cost for repairs and remodeling and closing costs.
If necessary and desired costs for staging and decorating your house in preparation for showings and open houses.
The contents of this document are provided “AS IS”. This information could contain technical inaccuracies, typographical errors and out-of-date information. This document may be updated or changed without notice at any time. Use of the information is therefore at your own risk. In no event shall Lily Garipova be liable for special, indirect, incidental or consequential damages resulting from or related to the use of this document.
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