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Selling a house can be stressful if you don’t know where to start. So, you should know the steps of the process, such as getting your house ready for showings, negotiating with potential buyers, and more. Continue reading this article to answer your question: how to sell my house?
Understand your Motivations and the Market
Before selling your house, it is essential to understand your reason.
Recognize your Motivations
The following are questions that may help:
- What are you getting out of this?
- Who is your ideal buyer, and what do they value in a house?
- Are you looking to move somewhere new?
- Are finances driving this decision?
- What are your priorities when deciding whether to sell now instead of later?
These questions can help determine how much effort should go into finding an agent versus doing it yourself.
Know the Market
You may be curious about local house prices. Look online for this info. Similar information may be provided, but with additional specifics.
10 Steps to take to sell your house
If you already know your market, it is time to start walking through the process.
1. Get a House Inspector
An inspector may check out everything in the house and report back to you on any issues they find.
You can find a good inspector through:
- A real estate agent or broker
- The local government’s website (optional)
2. Prep for Selling
It is important to remember that potential buyers are looking for a safe and clean place. You may do the following to make your property attractive:
Clean your House
If it’s been a while since you have done so, get rid of all the clutter. Do not forget the stuff in the garage or basement. You may need to ensure everything is tidy for potential buyers.
Stage your House
A professionally staged house may help buyers imagine themselves living there, which can make all the difference when competing with other houses that don’t have as good a staging plan.
Get Rid of Bad Smells
If there’s a smell above ground level, get rid of it, especially from furniture and other items around the house. Wipe their surfaces with vinegar and water before taking pictures of them to look their best.
3. Establish a Listing Price
To determine your listing price, you may need to know what your house is worth. The first step in this process is assessing the value of your unit based on its condition and location.
1. Determine what type of neighborhood/location/city you live in.
2. Research similar houses for sale in the same area, and then use that information to determine what price range would be suitable for yours.
3. Consult a qualified realtor who knows how much each buyer’s starting bid should be before negotiating with other purchasers (and vice versa).
4. Do the Paperwork
Prepare in advance by being aware of the required paperwork. There is a ton of preparation and documentation involved, and you may need to take note of the following.
- Sign a contract of sale
- Sign a purchase and sale agreement
- Sign the mortgage for your new house, if applicable
- Sign a settlement statement detailing what happens if anything goes wrong during construction or repairs
5. Hire a Real Estate Agent
An agent can help you locate a buyer for your house and sell it faster by working directly with them. The costs of hiring an agent vary depending on their services and where they live.
6. Have your House Evaluated
Get an appraisal. An appraisal is a third party that evaluates the value of a house based on its condition and location. It may help determine if you are getting a fair price and give you peace of mind in knowing what value the house should be listed at.
7. Get Ready for Showings
Once you’ve decided to list your house, you may want to prepare for showings. This includes cleaning the house and yard and ensuring all repairs are done and staged as best as possible.
8. Start Getting Offers
The sooner you get offers, the better. Two weeks and three showings indicate a buyer. This suggests they investigated your house before approaching you. If they haven’t arrived, another buyer may be waiting.
Don’t accept a lower-than-asking-price but higher-than-other-buyers offer. These people may not want to buy, but they may want something from you before selling.
9. Negotiate the Terms of your Sale
You may make the most money—and negotiate other terms, such as the closing date and inspection requirements. Negotiating these terms may help ensure your house gets sold quickly, saving you time and stress throughout this process.
10. Close on the Sale
Closing is the final step of selling. It’s time to say goodbye to your house and for the buyer to check out all its details and ensure everything is in order before closing on their purchase.
Additionally, it is crucial to note that there are different closings where both parties sign paperwork. Sometimes, it may involve multiple parties signing documents together, so everyone gets what they need, such as title insurance.
Selling a house is a big deal. You must plan, price, and advertise your house correctly. Negotiate the conditions of your sale before signing anything. If all else fails and no one seems interested in buying, remember: those extra steps might be what makes the difference between making money or not.