STEPS TO SELLING YOUR HOME
1. MEET WITH A REAL ESTATE AGENT to discuss the benefits of engaging a professional to help administrate the selling of your home. Gaining an education in this step will help you identify the best way to proceed to the next steps.
2. ESTABLISH A PRICE – Your agent has access to many resources that help in this step. Your agent will provide a market analysis that will help you determine and set an asking price. Without a professional analysis, it can be difficult to view the value and desired price objectively.
3. PREPARE YOUR HOME – In this step, it is important to look at your home through the eyes of a buyer. Your agent will offer suggestions that will enhance the marketability of your home. This professional opinion can save you money as often times upgrades or remodels that you may think are good, are not necessary.
4. LIST IT FOR SALE – Once you have reviewed the terms and set an asking price for your home, the agent will put your home on the open market. It is in this step that a yard for sale sign will be placed in front of your home. Additionally, your home will be listed in the Multiple Listing Service (MLS), which is a vital selling tool that is available to your agent. Your home being listed in the MLS also makes it available to be viewed on multiple online sources.
5. OFFERS AND NEGOTIATION – Once a buyer has decided to purchase your home, the buyer and if applicable, the agent that represents them will present an offer to your agent. Your agent will discuss with you the risks and benefits of each offer and at this time you can decide to accept, decline or counter the offer.
6. UNDER CONTRACT – In this step, both you and the buyer have agreed to all of the terms of the author and both parties have signed the contract.
7. FINAL DETAILS – While under contract, the buyer will work with their mortgage lender to finalize the loan and perform other due diligence. The buyer will usually perform a physical inspection of the home and can at this point ask you to make certain repairs. Your agent will advise you of all of your options concerning the home inspection.
8. CLOSING – The transfer of funds and ownership happens at this stage. A move in date for the buyer will have been set and at this point, you will need to be prepared to be moved out by that set date and the keys given to the new owner.