The Home Selling Process
Selling your home does not have to be difficult! Understanding the process and having the best captain can make it easy and fun! I’ve compiled a very simplified version of the selling process. Keep in mind, there are a million steps within each step, so that brings me to…
Step 1: Hiring a great Realtor! Having an experienced captain manning your home selling ship can make the process go from crashing waves to smooth sailing. Click here for Tips on Choosing the Right Real Estate Agent. Having an agent isn’t about just selling your home, but it’s all the tips and tricks of marketing, appraising at value, saving the deal from sinking because of buyer’s financing, industry practices set in place to save you from liability, and the list goes on… Take your time, do your research, and make sure you click with your Real Estate Agent.
Step 2: Meet with your Realtor and discuss pricing and marketing strategies…Have your Real Estate Agent conduct a market analysis (market evaluation or CMA). Have them talk to you about what homes yours is competing with and the price ranges already sold. Keep in mind…a buyer DOES NOT CARE WHAT YOU NEED TO GET INTO THE NEXT HOME! A buyer is concerned with maximizing their home investment. The key is to meet somewhere in the middle. Ask your Realtor how you can help in your home’s marketing process. Have them take a cute picture in front of your home letting friends and family know to look out for buyers that might love your home. Send out emails, share posts, and the list goes on…
Step 3: Get your home show ready!!! Whatever you do … DON’T SKIP THIS STEP!!! Your home’s photography will be shared online in a zillion places. Consider it an invitation to showings. Think about photos you’ve seen…stacked laundry, overwhelming family hall galleries, dirty dishes, undergarments hanging everywhere, and the list goes on…These things we do not consider a warm welcome! The goal is to take your home from a home you live in and make it someone’s canvas to paint their own family in. Make sure your home and lawn are meticulous if you’d like to sell at the top value in your market! Click here for more tips on getting your home photo ready!
Step 4: Your home should be posted for sale and advertised. Now, you wait for offers, and hope they come in droves!!! (FYI…Not all markets have multiple offers at an open house like you see on HGTV! Ask your agent about what to expect.)
Step 5: Choose an offer, negotiate, and/or accept!
Step 6: Signed contract goes to title (escrow). Usually, buyers at this time will start scheduling home inspections
Step 7: After any repairs are negotiated, if the buyer is using financing, the buyer’s lender will order appraisals. Time to start packing…AND FAST!
Step 8: Closing can come very quickly after appraisal is returned to buyer. You want to vacate the house and leave it clean. Be sure to provide any paid invoices for repairs made. Closing day…make sure you have the address and show up with ID. (Keep in mind your money will not usually come at the same time you sign…unless the buyer is paying in cash. Typically, documents signed by all parties are scanned in to the lender for approval. Once they’ve been given approval, everyone is paid. This normally happens the same day you sign, but can be the next day. Hint: If it happens on a Friday, it could be Monday.)