Selling your house can be done in six basic steps. Basic steps, but not necessarily easy. The goal is to sell quickly, at a price that earns you a significant return on your investment. By properly preparing in advance, you can have a seamless experience in selling your house so you can move ahead into your future. Here are the steps to follow for selling your house.
Step One: Hire a Real Estate Agent
The moment you think about selling your house is the same moment you should make up your mind to hire a professional real estate agent. Your agent can help you price your home to sell, help you prepare your house for showings, can work with you on negotiations and offers, and will protect your legal interests right up until you turn your keys over to the new owner. People who try to save a few bucks by cutting out the middle man and posting their home For Sale By Owner (FSBO) often find themselves paying considerably in longer times on the market, more reduced prices, and in some cases, legal fees.
Step Two: Price Your Home Competitively
Your real estate agent will provide you with a CMA, a comprehensive market analysis. A CMA is a list of houses in your area, similar to yours in size, stature, and features, that have recently sold. Recently sold prices differ greatly from asking prices. Recently sold prices are facts. Current asking prices are wishes. There is no monetary value on sentiment, so your tenure in the house or the memories you made while there will not increase the worth of your home to potential buyers. Separate yourself from the emotion of selling the house and focus on setting a competitive price from the beginning.
Step Three: Staging Your Home to Sell
Staging your home is the process you go through to prepare your house for viewings. It begins with a good old fashioned scrubbing. The house should be spic and span from the time it hits the market until you reach the closing table. It continues with de-cluttering, de-personalizing, and arranging furniture into conversational areas, away from the walls. Staging continues through the outside to ensure that love at first sight curb appeal. Mow the lawns. Weed the gardens. Gather up the toys or ornaments. Dress your house for success. Be security conscious and remove any valuable items or weapons.
Step Four: Open House
Open houses and viewings are exciting because it means people are expressing interest in your home. However, potential buyers tend to look critically at major purchases and are often openly expressive about their likes and dislikes. This could be uncomfortable for you as the current homeowner, so it may be best for you to treat yourself to a spa day, a few rounds of golf, or a mini vacation. You may also want to make arrangements for your pets. Potential buyers may have allergies, or may be put off by curious critters following them during their walk through.
Step 5: Negotiations and Contracts
The plot thickens as offers begin to filter in from your open house efforts. Offers may come in under your asking price, over your asking price, with contingencies, or may stimulate bidding wars if there’s interest from multiple parties. Trust your real estate agent to help guide you through the process. Your goal is to work with a buyer who is pre-approved for their home mortgage loan, saving you the time and trouble of their loan application process and potential denial.
Step 6: Appraisals, Inspections, Title Checks, and Closing
Yep, the last step is a mouth full. The title to your house must be cleared, meaning its free of any liens or tax holds. To satisfy the bank that your house is worth the asking price, an appraisal is ordered. Then, to ensure the condition of the house, an inspection is also ordered. When the house is cleared of its title, appraised for value, and inspected for condition, it’s time to move to the closing table. At closing is when all fees are paid to service providers, including the real estate agents. Your existing mortgage is paid in full, and you’ll receive a check for any additional proceeds from the successful sale of your house.
Want to know more about the home selling process? Give Adrian Garza-Delgado a call today at 210-595-9492.