8 Essential Steps In A Home Selling Process
When you’re selling a home, it implies that you’re already acquainted with the home buying process. Your experience of home buying will help you a lot while you’re on your way to sell your home. Go through the following lines to get an overview of the home selling process.
Home selling process: 8 necessary steps
Here are 8 essential steps that you need to follow while selling your home.
1. Choose a real estate listing agent
The first essential step in a home selling process is to hire a listing agent who’ll represent you as well as look after your interest so that your get the best deal. Therefore, interview several agents and select one, who seems best to you.
2. Make your home ready for sale
You should do the needful to beautify your home’s appearance. Do the necessary works, clean and paint your home in order to make it shine; it’s worth spending the money. You can take suggestions from your agent on how you can improve your home’s appearance.
3. Get an idea regarding your home value
As you’re satisfied with the way your home looks, you should figure out how much your home is worth. It is advisable that you set the price in line of the sold homes that are identified in a comparative market analysis report. Make sure you consider whether the market is hot or cold and set the price accordingly.
4. Market your home properly
It is an absolute necessity to advertise your house properly. Your agent should identify the selling points and highlight them along with preparing to advertise your property nicely. If required, you can study good marketing tips before talking to a potential buyer.
5. Show your home to potential buyers
Studies reveal that you’ll be able to show your home in a better way if you’re selling the property in spring than in winter months. Make sure you highlight the positive points while showing your home.
6. Receive buying offers and negotiate on price
It is one the crucial steps in home selling process. A potential buyer writes a purchase contract and sends it to your listing agent. Your agent advises you on how to negotiate on the price offered by a buyer. You should also negotiate on the amount of earnest money deposit.
7. Get your house appraised and inspected
Schedule appraiser appointment and get your house cleaned before your appraiser arrives. If you get a low appraisal, ask your listing agent about probable alternatives. However, if the buyer wants to cancel the contract based on the appraised value, then you can consult a lawyer for your legal rights. You should also co-operate with the home inspector while he/she lists the positive and negative points of your house. If you wish, you can also opt for seller inspection.
8. Negotiate on request for repair work
Based on home inspection reports, buyer can request certain repair works. Though it is not mandatory for a seller to accept it, yet a buyer may cancel the offer in this context. If you don’t agree to make repairs, then you may have to reduce the closing cost.
The last step in home selling process is to sign the legal documents and close the transaction.