Selling a home requires more than just putting out a “For Sale” sign. It involves many steps that need to happen in the right order. Learn the basics of how to sell a house so you’ll know everything that needs to happen for a successful transaction.
How to Sell a House: The Essentials
Hire a Seller’s Agent
To sell your home quickly and at the best price possible, you need an experienced seller’s agent. While you can save on realtor’s commissions by selling the home yourself, you may not have the knowledge, tools, and experience to market the house effectively and handle the closing details.
Get the House Ready for Market
About a month before you put the house on the market, get it ready for showing. This means deep cleaning every room and decluttering the house. Paint the walls with a fresh neutral color. Deep clean or replace carpeting. Pressure wash the outside. Make any minor repairs you’ve been putting off. Your real estate agent will advise you of other worthwhile improvements ahead of listing.
Schedule a Pre-Listing Inspection
A pre-listing inspection isn’t required, however, the report will give you a heads-up to problems that a buyer’s inspection will reveal later in the process. You have the choice of making repairs before putting your home on the market, adjusting the list price accordingly, or negotiating for repair costs once you get an offer.
Have Professional Photos Taken
Some real estate agents include the cost of professional photos as a part of their service. If your agent doesn’t offer professional photos, hire a photographer skilled in real estate listings. Exceptional photographs will encourage potential buyers to tour the property.
How to Sell a House with a Reasonable Price
Before you put your home on the market, you need to set a sales price. You want to make money on the sale of the house, but don’t want it to sit on the market because the price is too high. Your real estate agent can find information on recent home sales in the area and give you the best target price based on those comps and the condition of your property.
Put the House on the Market
Once the house has been staged, prepared to show, and you’ve set your list price, it’s time to put the home on the market.
Always let the agent handle the showings. Buyers find it awkward to deal with the homeowners when they are looking at a property. Leave the house while the agent shows the potential buyers around.
You’ve been learning how to sell a house with one goal in mind; receiving an offer for the property. Assess each offer individually. While the highest bid may be the most tempting, consider a few things: Are they asking for credits for repairs? Do they want an extended closing date? Are they waiting on financing?
How to Sell a House: Closing
You’ve accepted an offer and the closing date arrives. You will have to deal with closing costs such as the agent’s commission, government transfer tax, title insurance, recording fees, and outstanding liens. Arrive with all the requested paperwork for a smooth closing on your house.