Overview of the home selling process
By RealtyCrunch Inc•May, 11th 2020
Here is a brief overview of the home selling process.
- Choose a great Real Estate agent: a good agent will not only help sell your home quickly and for the best price, he or she will also able to support and educate you along the way.
- Setting the Right Price: a good real estate agent will guide you in setting the right price, however, you should do your own research to know what you think the range should be so you don't sell yourself short.
- Understand your finances: properly understand what you owe on the house...are there any liens and/or second mortgages to consider. Ask your agent for anticipated closing costs and fees so you know what you will net out with your anticipated sales price.
- Preparing yourself and your home to sell: make a check list of all the to-dos you will need to accomplish in order to put the best home on the market. Think about: the repairs… (I.E. leaky toilet or faulty electrical outlet), cleaning/de-cluttering the house - (I.E. garages, basements, lawn) , staging your home to make it the best looking house possible
- Create marketing collateral: this is where you work with your real estate agent to create the proper collateral for your home and get on different marketing outlets. You will need to get high quality photographs of your home and a detailed home listing to give an overview of your home’s best features.
- Marketing your home: At the very least, you should be marketing your home via the MLS (Multiple Listings Service), Yard sign, flyers/direct mail, and social media.
- Get ready for home showings and open houses: it's unlikely a buyer will buy your home without seeing it, so be prepared to vacate your house before showings and open houses. Keep your house clean so that you can accommodate potential buyers schedules and open houses. Know how long it takes you to get your home in presentable shape so that showings don't stress you out.
- Negotiating and accepting an offer: when you receive offers, your agent can walk you through the negotiation process and the pros and cons of each offer you receive. Ultimately, it's your choice which offer to accept or whether or not to accept an offer. Make sure to set proper expectations with your agent about the minimum price of your home and the minimum you are willing to accept.
- Closing: At an in-person closing, you can expect to spend most of the time signing documents before you hand over the keys to the home. The closing room can get a bit crowded depending on who is required at your closing. You can expect to see the buyer's agent, your agent, both parties' lawyers if you have them, both parties lenders if you have an outstanding mortgage and if the buyer is getting financing. You'll also have the title company's representatives too.
- Post-Closing: there are lots of little things to check off your to-do list after the closing, so be sure to read RealtyCrunch's post-closing checklist when you close.