Step by Step: The Selling Process
Selling your home is a process. Read on to view the entire home-selling process.
First, Talk to an Expert
Find an agent that you are comfortable with and that is familiar with your area. They can give you an idea of how to price your home, suggest marketing plans, provide you with an overview of the local market, and more.
Get Your Home Ready to List
Your real estate agent will also suggest some tips on preparing your home to make the best impression on buyers. They have walked through many homes with many buyers and their experience can help you avoid things buyers dislike about homes. Expect to do these things:
- Clear out the clutter, remove almost all personal items, and move some furniture to another room or out altogether.
- Paint interior rooms and at least the trim on the exterior. Pressure wash if needed.
- Tidy up your lawn and landscaping.
List Your Home
Your real estate agent will probably arrange to have photos taken of the home once it's ready to list. Once listed, your agent will schedule showings and arrange for an open house in some cases.
Take Offers
Interested buyers will submit offers, some with a time limit and some without. In most cases, offers will be too low and you may make a counteroffer. Once an offer is accepted, you are in the due diligence or escrow phase of the deal.
Home Inspection
Buyers that need financing – and some that don't – will ask a professional home inspector to tour the home and report on its condition.
Home Appraisal
Usually paid for by the buyer, a home appraisal confirms that the home value is in line with the purchase or financed price. Some sellers have their own appraisal performed before they set a price on the home.
Issues With the Inspection or Appraisal
When issues occur, it's not necessarily a ruined deal. Sellers may make concessions to the selling price if repairs need to be made or if the appraised value is lower than expected. You may also consider performing the repairs yourself.
The Closing
For sellers, this is the final action in which the parties meet, and the home officially becomes the property of the buyer. Sellers are paid with a certified check (in most cases) and the keys are handed over to the new owners.
To find out more about this process, or to sell your home, speak to a real estate agent in your area.
