Selling a home can be overwhelming for anyone. Knowing where to start can make the process efficient and easy, especially if this is your first time selling a home. Here are 9 simple steps to make the selling process as stress-free as possible!
Step 1: Hire a Real Estate Agent
A real estate agent will make sure your home is prepped, listed on the market, review all offers, as well as handle all the negotiations and everything needed to be done at closing. This makes the process go by as smoothly and stress-free as possible for you! Finding an agent that has the right experience and a good understanding of your situation is crucial. If you need help finding an agent, take a look at our team page!
Step 2: Set a Timeline
Depending on the market in your local area, selling a house can be a quick process, or it can drag on for a while. Making sure you leave yourself enough time to schedule necessary repairs is something to keep in mind when setting a sell-by date. A pre-sale home inspection is also something to consider. The purpose of a pre-sale home inspection is to identify potential problems and possibly discover existing faults if any.
Step 3: Get Professional Photos
High-quality photos are a big selling point. Photos can make all the difference between a quick sale or a listing that sits for months. Most agents provide photography with their services. But, others may leave the photos of the home totally in your hands. Having a professional photographer with the right equipment who knows the correct angles, lighting, and overall knows what sells homes quickly is important.
Step 4: List your Home on the Market
Your real estate agent will guide you in determining when your home is ready to be put on the market. Once your home is listed, it is important that you focus on the home’s online appeal as well as keeping the home in good condition for showings. Generally, buyers are accompanied by their own real estate agent to view your home; however, if you wish, you can have your agent present at showings as well.
Step 5: Set a Realistic Price
Everything is negotiable in real estate. But, pricing your home right the first time, and relying on neighboring comps to do so should be the main focus. Check online listing websites to see how similar homes in your area are priced, your real estate agent will also guide you through this.
Step 6: Review and Negotiate Offers
Again, everything in real estate is negotiable. When you have been presented an offer, you have a few options: accept the offer as it was received, make a counteroffer, or reject the offer completely. This is where your real estate agent is going to be your best friend and go-to person for advice. They will also negotiate on your behalf with your best interest in mind.
Step 7: Expect Seller Closing Costs
The homebuyer and seller will each have closing costs. Some other costs commonly covered by the seller include buyers and seller agents commission as well as, outstanding liens, recording fees, Government transfer tax, and potentially more. Your real estate agent will guide you through this process.
Step 8: Consider the Tax Implications
Most home sellers won’t owe taxes on profits from the sale of their primary home. If you’ve lived in your home and have owned the property for at least two out of the previous five years before selling it, then you will not owe taxes on any profit.
Step 9: Acquire Necessary Paperwork to Close
Some of the basic paperwork needed to correctly document a home sale would be, your property’s original purchase contract, certificate of occupancy, mortgage documents, appraisal from your home purchase, tax records, homeowners’ insurance, and home inspection report, if applicable.
Selling your home does not have to be an overwhelming process. With these steps, you will have a good idea of where to start and what’s next. Good, quality tools to use are always out there and our agents are here to help. Happy home selling!
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