1. Define your needs and reasons for selling your home. For your goals,
write down what you would like to sell your home for. Work with your
realtor to map out the best path to achieve your objectives and set a
realistic time frame for the sale.
2. Decide on a price. Your realtor will run a Comparative Market
Analysis and will give you a range of what your home should sell for in
the current market. If your home is below what is ‘normal’ for the
neighborhood, it should be on the low end of this spectrum. If your home
has more updates or amenities than the ones on the list, it should be
at the high end of the spectrum.
3. Prepare your home. This is a very important step!
Make your home as attractive as possible. Take an assessment of your
home and view your home like a potential buyer would. (See Increase the
Appeal of Your Home on the website list.)
Stage Your Home.*
Get professional photos made.*
*If your realtor did not mention these last two steps – look for a different listing agent.
4. Get the word out. Your realtor should set up a marketing strategy
specifically for your home. Your agent will use a combination of these
tactics to bring the most qualified buyers to your home.
5. Receive an offer. When you receive a written offer from a potential
buyer, your realtor will first find out if the buyer is pre qualified to
buy the home. If so, then you will want to review the proposed contract
and look at price, terms, and contingencies.
6. Negotiate to sell. Most offers to purchase will require some
negotiating to come into a win/win agreement. Your realtor should be a
top notch negotiator.
7. Prepare to close. Once you accept an offer your realtor will guide
you through the next steps of inspection, repairs, appraisal, and final
considerations before closing.
8. Close the deal. A “closing” is the meeting of the buyer and the
title company. This is when the actual transfer of title to the property
occurs. The contract you have signed describes the property, states the
purchase price and
terms, sets forth the method of payment, and usually names the date and
place where the closing or actual transfer of the property title and
keys will occur.
The title company transferring ownership of the property to you will
prepare a new deed. Before you exchange these papers, the property may
be surveyed, appraised, or inspected, and the ownership of title will be
checked in county and court records.