Sure, you can try to sell your home on your own. It’s not likely to be a successful endeavor, even if you know where to start. When you work with a real estate agent, you will benefit from their expertise and experience. They will have resources, marketing know-how, and a plethora of strategies to ensure maximum exposure. Finding the right agent is key to a smooth, successful transaction. Interview three to five agents before deciding which one to use. Ask questions like:
There is a lot that goes into preparing your home and making it presentable for buyers. Again, your real estate agent can help you in this area. They can walk through your house and provide suggestions on things that need to be replaced, repaired, or cleaned up. These are just suggestions; you don’t have to replace or repair every single thing suggested. Use some common sense when choosing projects that will help you sell your house. This doesn’t mean totally remodeling the kitchen and bathroom. It does include making the house presentable and addressing anything that could detract someone from seeing its true value. Some things you will want to address include:
Part of preparing your home to show is a process called staging. This includes decluttering and removing items. Remove personal items from the rooms like family photos and memorabilia. Each room needs to have an uncluttered appearance. Think of it like a model home. You want to allow a potential buyer to envision what the house will look like with their things in it. Here are a few tips for staging your home:
– Clean every part of the house. That includes the floors, the ceilings, and everything in between.
– Declutter all areas of the home. Cluttered areas make it seem like there is less space. It also detracts buyers from the home’s features.
The buyer usually hires a property inspector who will check for damages or non-functional components. This allows the buyer to make a well-informed decision. If the inspector finds any problems, you may be asked to make repairs or replacements before the sale is finalized. It is also possible to renegotiate a price to allow for any repairs that may be needed. During this time, the buyer can back out without penalty if they deem there are too many things that need to be repaired or replaced. They may also back out of the purchase if there are serious problems. This is why it is important to make any repairs or replacements before showing the house.
The appraisal is scheduled during this phase too. This is usually required by lenders to make sure they are loaning the proper amount to the buyer. Appraisers protect both lenders and buyers and make sure they are getting a fair price. The appraisal can influence the purchase. As the seller, you hope the appraiser will value the home for at least your contract price. If they value it more, that’s good too. An appraisal lower than the lending price can cost you the deal. If you get a low appraisal, discuss your options with your agent. You may need to reduce the sale price.
Once all the paperwork has been completed and the lender grants the buyer the mortgage, the sale can be finalized. Your agent will give you the closing date. You will give keys and other items to the agent who will make sure the buyer gets them. Be sure to bring things like:
Congratulations! You successfully sold your home. The funds will be transferred or wired to your bank account, or you’ll be given a check for the final amount.
The appraisal is scheduled during this phase too. This is usually required by lenders to make sure they are loaning the proper amount to the buyer. Appraisers protect both lenders and buyers and make sure they are getting a fair price. The appraisal can influence the purchase. As the seller, you hope the appraiser will value the home for at least your contract price. If they value it more, that’s good too. An appraisal lower than the lending price can cost you the deal. If you get a low appraisal, discuss your options with your agent. You may need to reduce the sale price.