Selling your home can be an exciting step to a new chapter in your life. Whether you need to make the move for work or just wanting to upgrade into something bigger, these 10 steps will make your selling process easier.
1. Selling Needs vs. Wants
You’ll want to make a list of pros and cons for selling your home. You may WANT to sell your home, however it may not be the best time to do so. Do some research on the current home market to see if you can afford to make the move and sell. Also, be sure to map out your goals for the next 5-10 year to ensure you’re ready for the change.
Selling is not a cheap cost. You’ll need to make repairs and/or remodel your home to get it prepared to sell, which means you’ll have to buy supplies or hire contractors. PRO TIP: Don’t forget about closing costs. Find a realtor and talk through your closing cost options with them – not all realtors are the same.
3. Selling Strategy
Whether you’re selling your home on your own or hiring an agent, you’ll want to know how quickly you need to sell. If you sell on your own, do research on how to sell yourself. If you hire an agent, meet with your top 3 brokers to get a scope of who you’ll work with best. Determine your pros and cons for both options before finalizing your decision.
4. FMV: Fair Market Value
Although you believe your home is worth a million dollars, the market may think differently. Research current listings in your area and of homes similar to yours to figure out the best price point to set. Determining your FMV will help you with your low and high asking prices when selling.
Advertising will also depend on if you’re listing with an agent or not. An agent will help you list on various online sites as well as help book open house opportunities and MLS listings. If you plan on listing on your own, for sale signs, free websites, and flyers can help spread the word. Include high quality photos and video tours to help potential buyers see the home.
Staging can help boost your home in many ways. It helps highlight your home’s best features as well as give buyers an idea of the home’s potential. Get great tips by hiring a professional staging team.
7. Open Houses
When you’re ready to open up your home to buyers, you’ll want to have a solid plan. Grab your calendar and decide on/stick to dates and times to keep the house open to buyers. Be sure to keep it in selling ready shape during the entire process.
8. Purchase Offer Plan
Have a plan of action in place in the event you receive multiple offers. You may have to turn offers away, so keep emotions out of the process if you don’t feel like an offer is good for you and your family.
Don’t be afraid to negotiate with buyers. You don’t have to settle for the first offer you get. If you need to sell quickly, include incentives to entice the final offer. Each sale will be different from the last, but figure out what will work best for you in the end.
Your home will need a appraisal and home inspection, so be sure to have the home in tip-top shape for your final walk through to keep the process running on time. Research your escrow agent to ensure you’re getting the best representation.
Make your selling process go something with this helpful check list. As always, if you have specific questions, please email us directly at firstname.lastname@example.org or call us at (714) 713-4663 so we can ensure that your request is granted quickly!