Evaluate your goals: Determine why you’re selling (e.g., downsizing, relocating).
Understand the market: Research your local housing market to gauge timing and pricing trends.
2. Choose a Real Estate Agent
Research Potential Agents:
Look at online reviews and agent profiles. Google and Zillow are very restricted on the reviews and
Choose an agent familiar with your neighborhood and property type.
Interview Agents:
Ask about their experience, the years in the business, marketing strategies, and success rate.
Discuss their fees (typically 2.5% - 3% of the sale price.
Check Credentials:
Ensure the agent is licensed and in good standing with the local real estate board.
Sign a Listing Agreement:
This is a contract outlining the agent’s responsibilities, commission rate, and the listing duration.
3. Prepare Your Home for Sale
Declutter and Depersonalize:
Remove personal items and excess belongings to make the space neutral and inviting.
Clean and Stage:
Deep clean the house and hire a professional stager if needed to maximize its appeal.
Make Repairs and Updates:
Fix minor issues like leaky faucets or chipped paint.
Consider affordable updates like painting walls in neutral colors or replacing outdated fixtures.
Boost Curb Appeal:
Maintain landscaping, paint the front door, and ensure the exterior looks welcoming.
4. Set the Right Price
Work with Your Agent:
Analyze comparable homes (comps) recently sold in your area.
Consider market conditions and your home’s unique features.
Avoid Overpricing:
A well-priced home attracts more buyers and can sell faster, helps with receiving momentum for multiple offers which could ultimately get you a highest and best price.
5. Find and Agent Who Can Professionally Market Your Property
Professional Photography:
High-quality photos make a strong first impression online.
Online Listings:
Post your home on platforms like MLS, Zillow, and Realtor.com.
Open Houses and Showings:
Schedule open houses and private showings to attract buyers.
6. Review Offers
Understand the Offer:
Review the purchase price, contingencies, earnest money deposit, and proposed closing date.
Negotiate:
Work with your agent to counteroffer if necessary to improve terms.
Choose the Best Offer:
Consider not only price but also contingencies and the buyer’s financing strength.
7. Handle Inspections and Appraisals
Buyer’s Home Inspection:
The buyer hires an inspector to assess the home’s condition. Be prepared to negotiate repairs or offer credits if issues are found.
Appraisal:
The buyer’s lender orders an appraisal to confirm the home’s value. If the appraisal is low, renegotiate or the buyer may need to cover the difference.
8. Prepare for Closing
Provide Required Documents:
Include the title deed, recent tax bills, and disclosures about the property’s condition.
Clear the Title:
Resolve any liens or issues with the title.
Move Out:
Clean the home and remove all personal belongings by the closing date.
9. Close the Sale
Sign Final Documents:
These include the deed transfer and closing statements.
Pay Closing Costs:
Sellers typically pay for the real estate agent commissions, transfer taxes, and prorated property taxes.
Receive Payment:
After closing, the proceeds from the sale (minus costs) will be transferred to your account.
10. Post-Sale Tasks
Keep Records:
Retain copies of the closing documents for tax purposes.
Notify Utilities and Services:
Cancel or transfer utilities and inform relevant parties of your address change.
Pro Tips for Sellers
Be Flexible: Accommodate buyer showings and remain open to negotiations.
Stay Objective: Avoid emotional decisions and focus on market realities.
Plan Ahead: Understand your financial obligations, such as paying off your mortgage, your leased items in your property, and prepare for your next move.