Selling a home can be an inherently complex process that demands proper preparation, an attractive offer price and seamless transactional execution.
First and foremost, make your home presentable by cleaning toilets, wiping surfaces and decluttering. In order to maximize results it may also be wise to hire professional cleaners for this process.
Consider sharing your listing on social media so potential buyers will see it and contact you directly.
1. Set a realistic price
Setting an accurate price when selling your home is crucial to attracting more buyers and completing it more quickly. To determine an equitable value, review comparable homes in your area and note their sales prices; be mindful to take note of any significant variances between square footages or placement on lots when making this determination.
Keep an eye on local real estate market trends as well. A high asking price may deter buyers, while in an extremely slow market you might need to reduce it so as to speed the process along more quickly.
Seasonality should also be taken into account; generally it’s easier to sell a home during spring and summer when families are seeking new places, though this will vary from city to city.
Reducing costs through cash incentives may also attract potential buyers, especially for older properties that need significant repairs.
Unable to secure financing or home inspection exposing major, previously undisclosed defects are among the leading causes of deal failure. If these issues become too great to overcome, selling as-is to a cash buyer may be your best solution; doing so would eliminate costly repairs while shortening negotiations considerably.
2. Make the necessary repairs
Before listing your home for sale, take care to complete any necessary repairs. Buyers will closely examine its condition, and may be less willing to offer top dollar if there are major defects or surprise inspections which lead to lawsuits if significant problems emerge during an offer process. Also disclose any known defects to potential buyers; this can help avoid surprise inspections that result in deals falling apart due to hidden issues.
Clean out your home to prepare it for sale by clearing away clutter. This will allow potential buyers to envision themselves living there. Rent a storage unit or ask a friend for extra space for out-of-season clothing, books and decor items; additionally remove personal photos and memorabilia that make your space too familiar and personalized.
Make your home’s curb appeal stand out with inexpensive shrubs and flowers by planting some in the front yard, such as shrubs or flowers. A well-kept front yard gives potential buyers confidence when making offers on your home, so add bench or vase of fresh cut flowers in the entryway to create an inviting welcome mat for potential buyers to enter through. Remember, buyers judge a house from its exterior before even entering it!
3. Stage the home
Home staging strategies can make a substantial difference when selling property. Proven to generate more buyer interest and increase offer amounts from potential buyers, this strategy may not be necessary for every seller (particularly if using HomeLight Simple Sale as the house-buyer), but can still help speed up the selling process and get your house sold quicker.
As the first step of staging your home, the initial task should be cleaning and decluttering to allow buyers to see its full potential. After this step is taken, focus on those rooms which have the biggest effect: living room, master bedroom and kitchen.
Consider adding some economical yet noticeable touches, like fresh flowers and a new doormat, as well as updating the exterior of your home – make sure your driveway, sidewalk and front porch are clear of cobwebs or bird droppings and consider placing potted plants near the entranceway to give the space an inviting ambience.
if you need assistance staging your home for sale, seek advice from your real estate agent. They have probably staged many homes before and know what will attract buyers in your market. Plus, they will likely have more knowledge of both your property and its competition which allows them to provide an accurate valuation as well as help guide staging decisions.
4. Get a home inspection
Home inspections are generally required of buyers when searching for properties to purchase, but sellers can also benefit from having their properties inspected prior to listing them for sale – doing this helps identify any issues which might prevent a sale and allow them to address them more easily.
Home inspectors examine many elements, from foundation and walls to roofing and plumbing systems and any safety hazards or code violations, before providing a report that gives sellers an understanding of what lies ahead when selling their property.
Minor foundation cracks typically don’t need to be corrected before selling a home, while major issues could thwart its sale. If an inspector finds an urgent problem, sellers may wish to decrease their asking price or withdraw altogether from negotiations.
If an inspector discovers mold in a home, this can cause significant concern among potential buyers. They may be unable to secure financing and it can even contaminate water supplies – further compounding their concern.
While pre-inspection can be beneficial for sellers, buyers still conduct their own home inspection. Therefore, sellers will need to disclose any issues they’ve addressed as well as explain why repairs were completed.
5. List the home with a real estate agent
When selling your home, it is crucial that you work with an agent who understands the local housing market and prices. They will assist in setting a competitive price for your property while advertising it to potential buyers as well as helping with paperwork and negotiations.
When selecting an agent, conduct several interviews and ask each candidate about their experience helping other home sellers. Ask about which homes were sold quickly and their approach for listing your home for sale. Ensure you select an agent with proven success!
As part of the listing process, your agent will create a Comparative Market Analysis (CMA) of your home. This includes information about similar properties in your neighborhood – their listing prices, days on market and final sale prices as well as an assessment of its features and amenities.
As soon as it comes time to sell your home, you must fill out federal disclosure forms regarding lead-based paint and flood risks. Furthermore, these disclosures must be accessible for potential buyers – this can be accomplished through either handing out hard copies at showings, sending digital versions to interested parties directly, or attaching them online listing.
6. Wait for an offer
Once your home is listed for sale, you must wait for offers to come in. Many offers will include contingencies – actions that must happen before any sale can become official – such as having a home inspector tour your house before finalizing their offer; should any issues arise and make withdraw their offer without penalty.
Most buyers want the flexibility of visiting your home at their own convenience, without needing 24-hour notice before showings are permitted. Furthermore, any personal items like family photos or sports team memorabilia should be removed prior to showings so prospective buyers can better imagine themselves living there and see themselves as owners of that space.
Once an offer is presented to you, it’s essential that you work closely with your real estate agent on its terms. Together you will need to decide whether to accept it, reject it, or submit a counteroffer; and discuss any related closing costs such as agent commission (up to 6% of final sale price).