steps to selling a home
You’ve made the decision to sell your home. Great! That was the hard part. Now comes the tricky part. Actually getting your home sold. Below are some steps you can take to make the process of selling your home easier:
1. Select the right listing agent: Your listing agent is your personal representative during the home selling process and will have fiduciary responsibility for ensuring your best interests are represented. You should interview at least three real estate agents before selecting the one you want to sell your home. Look for an experienced agent and be sure you fully understand the listing agreement.
2. Determine how much your home is worth: Don’t overprice your home. A comparative market analysis will tell you how similar homes have sold for. Be sure to take into consideration if your local market is hot, cold or lukewarm when it comes to home sales and price accordingly.
3. Advertise: When advertising your home, market its strong points. Newly remodeled kitchen? Market it. You and your real estate agent should work together to develop a plan that moves your home from being on the market to sold.
4. Open your home to potential buyers: Schedule open houses with your real estate agent to draw buyers to your home. If they don’t come to see your home, there is a 100 percent chance they won’t buy it. Give agents access to a lock box to generate even more traffic.
5. Consider offers and be prepared to negotiate: Don’t ignore any offers you receive, even if you think they are too low to consider. Negotiate with potential buyers to get the price you want. If the seller’s offer is contingent upon the sale of their house, ask for a right of first refusal. And if the sale of the home is contingent upon your buying another home, make it contingent upon your purchase of another home.
6. Escrow, inspection and title: Following the acceptance of an offer, your agent will open escrow. A closing date will be selected and a buyer’s appraisal will be scheduled and completed. You might have to negotiate the cost of any repairs the buyer’s inspection turns up before you sign the title and close escrow.