Have you been considering selling your house but aren’t sure where to start with the process? As you may know, buying a home is a lengthy and tedious process. However, selling a home also comes with numerous other tasks and considerations to keep in mind.
Prepare your House
When you first decide you will be putting your home on the market, it’s crucial that your home is well prepared. First impressions can make or break the sale of your house. If your house requires many large, expensive improvements, your best option may be to sell your home as-is.
However, if home improvements are in your budget, it is wise to have them completed to get the highest purchase price. Also, if you have a healthy budget for improvements, the addition of popular home features such as heated floors, professional kitchen appliances, and more will put your house on the top of buyers’ lists.
Once your home is deemed ready to list and priced competitively, you don’t want to stop your efforts there. Focusing on marketing your home is just as important as the preparation. First, consider obtaining professional photos or even a 3D video tour to provide potential buyers a more realistic perspective of your house.
When creating your listing you should also be sure to highlight your home’s best amenities and features in the description. Listing items such as having an inground pool, renovated basement, or short walking distance to downtown entertainment is key.
Lastly, be sure to list your home on as many channels as possible. Placing your house listing on numerous real estate sites, within the local newspaper, and numerous other locations provides you with the best opportunity to reach as many buyers as possible.
A successful home sale relies on an accurately priced house. If you list your house for too high of a cost, it is likely that it will sit on the market for an extended period of time and you have the potential to lose possible buyers due to them finding a more appropriately priced home.
To determine the best list price for your house, it is recommended to research comparable properties in your area and what they have sold for. You can also hire a professional appraiser and rely on your real estate agent to provide guidance as they can direct you on a recommended price that is likely to cause a bidding war on your house, which can lead to a higher profit.
Be Prepared for Closing
After you have listed your house and found a buyer, you will then begin the process of closing your home. A home inspection will be required and there may be tasks needed to be completed prior to your closing.
As a seller, you will be obligated to complete any repairs and you may also be required to obtain additional inspections or certifications depending on the agreement made between you and the buyer.
When selling a home, you are also required to submit a property disclosure that specifies any known defects or issues with the home. Selling a house also comes with required closing costs that can cost 8 to 10 percent of the sale price.
Utilizing a seller closing costs calculator will allow you to better estimate these expenses. Lastly, once all the steps of closing have been completed a closing appointment will be scheduled where all legal documents will be signed. Keys will then be handed over to the buyer and the new deed will be granted.