Your home is your biggest investment. That’s why you can’t leave things to chance when it comes to the sale. When it comes to the home selling process, what you don’t know can cost you time and money. Check out these six steps to selling a home before you decide to place a sign in the front yard.
👥 Find the Right Real Estate Agent
The agent you choose is going to represent you and your property. It’s important that the agent you choose knows the area, has access to information on other properties for sale, and has a good sales record. Other properties in the area could be competition to your sale, and it’s good to know what you’re up against. An agent who knows the local scene will understand local trends in the real estate market. A good way to check out a potential real estate agent is to visit an open house they are hosting. You’ll get to see them in action, as they represent the buyer of that property. Take note of how they interact with potential buyers and their level of professionalism. Check their sales record, but don’t let that alone sway your decision.
🏡 Staging Your Home for Buyers
Once you’ve decided that you want to sell, you should try to get your home in tip-top shape. A well-maintained home will stand out from other properties for sale and create a better impression on buyers. Tend to any repairs and maintenance issues like leaky taps, faulty switches, and broken windows. These obvious flaws will put buyers off or create negotiations that attempt to drop your asking price.
- A good spring clean before you put the house on the market is always a good idea. A buyer will perceive that there is less work to be done on a house that is clean and tidy.
- De-clutter. Clutter gives the impression that the home lacks storage space
- Arrange every room in the house as neatly as possible.
- Neutralize your color schemes as much as possible. Harsh or powerful colors do not always appeal to everyone. Walls painted with neutral colors may be better from a resale perspective.
- Make sure the walls and skirting boards are clean and are not cracked or damaged. Re-paint where necessary.
- Repair any leaking taps and toilets.
- Replace or repair anything that is broken or missing, i.e. washing basin plugs, cupboard keys and locks, loose door knobs, and so on.
- Repair all sticking or squeaking doors and windows, warped cabinet doors and drawers and all other minor flaws.
- Pay attention to any woodwork on your home and treat it accordingly if necessary. Replace broken or cracked windows. Make sure that all your lights are in working order and where necessary replace broken bulbs.
- NEVER try to hide any serious damage, like damp or a leaking roof.
💲 Set the Right Asking Price
Pricing your home correctly is crucial when putting your property on the market. A property that is badly priced will take longer to sell than one that offers fair market value. Without a real estate agent, you would need to do your research and get to know the local market. Fortunately, a real estate agent can save you time by giving you a comparative market report.
🤝 Accepting an Offer
The real estate agent will contact you to pass along any offers that come in for your property. Once you are happy with an offer, you will formally accept the offer. At this point, the estate agent takes the property off the market. Accepting an offer is not legally binding, and the seller can legally change their mind or accept a higher offer later.
👍 What Happens After You Accept an Offer
You will receive an Offer to Purchase. You will negotiate the terms of the agreement until it is suitable. When the offer is accepted by both the buyer and the seller, the property transfer process begins, and the property can be deemed as legally sold. Once the deal has officially been closed, with the help of your real estate agent, both the Buyer and Seller will initiate the transfer process.
📅 What to Expect on Closing Day
Closing is when the house buyer and seller fulfill all the agreements made in the sales contract. The closing is an important day for the home seller. The seller will transfer the property to the buyer, fully pay off any mortgages, and receive the proceeds of the sales.
To make this process secure and enable all of the parties involved to treat all of the closing tasks as having taken place simultaneously, you will most likely hire a disinterested third party, called a “settlement agent” or “escrowee.”
Your real estate agent is the best source of information about the local community and real estate topics. Give Peter Klein a call today at 720-771-5757 to learn more about local areas, discuss selling a house, or tour available homes for sale.