Selling your home can be a challenging and exciting experience. Your home has certain sentimental value to you and your family and can also be an emotional transaction. It is important to remain impartial when selling your home. We have developed this page to help walk you through a brief outline of the selling process.
1. Making the decision to sell.
The decision to sell is an important first step. You may want to ask yourself some key questions to help determine if you are ready to sell your home.
- Do I need the tax advantages or what are the tax dis-advantages?
- Can I afford a new home?
- How long do I plan to live at my next home?
- Where do I want to live?
- What will my taxes be?
2. Choosing Professional Guidance
Using a real estate agent or broker will be key to your successful sale. They are professionals that can take you through every step of the home selling process and ensure that you are protected and well informed with the real estate transaction. In most cases, their services are tax deductible. (consult a tax advisor). If you would like help choosing an agent click HERE and you will be directed to a page that outlines what to look for in an agent.
3. Prepare for the Sale
The best way to prepare to sell is to ensure that your finances are in order so that you know exactly what you can sell your house for and what equity position you are in. If you are planning to buy a new home you will also need to go through the preparation to buy by doing the following:
- Know how much home you can afford
- Know how much money you want to put down (if applicable)
- Get "Pre-Approved" with your favorite lender if a loan is needed
- Be prepared to give proof of funds if paying cash
Next, you will begin to prepare the physical aspects of your home for sale. There are plenty of things that can be done to stage a home properly for sale. Below you will find a few basic things that should be done. For more detailed information please contact one of our agents for professional consultation.
- Remove personal items from the property
- Thouroghly clean the property inside and out
- Add fresh foliage to the exterior landscaping
- Remember that first impressions are sometime the only impression
4. Know the market
Knowing what homes are on the market and the features of these homes will help you decide on an educated listing price. Using an experienced real estate agent in the area that you are selling will be key in this step.
5. List your home/Advertise your home for sale
Professionally marketing your home is a key factor in a successful sale. The more people that know your home is for sale, the more potential buyers you will have considering your home. The 4 following factors are vital considerations for buyers:
- Location
- Price
- Condition
- Competition
6. The Negotiation
Once you find a buyer that wants to purchase your home, you will begin the negotiation process. You will negotiate all aspects of a real estate contract such as price closing date etc. There are 2 stages of the negotiating process outlined below (note: we recommend using a professional to assist with this step to ensure a succesful transaction)
- The Initial Negotiation (prior to completed inspections)
- The Re-Negotiation (After the completed inspections)
7. Complete the Selling Process
Once all of the negotiations are completed you will prepare to close at the title company. Be sure that all involved parties are available to sign papers on the day of closing.
8. Close the Deal
Going to the closing at the title or escrow company is the last stage of the process. Be sure to bring proper identification and certified funds if needed made out to the title or escrow company. You will sign any applicable sale documents and the deed will be transferred into the buyer's name. Now the sale is COMPLETE!
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