A great question that many homeowners, considering selling their home, want to know; what steps are home selling stepsinvolved in selling a home? Knowing the home selling process is half the battle when selling a home; the other half of the battle I’ll save for another article. And knowing what steps are involved in a selling a home, will allow you to prepare both physically and mentally as it can be both physically and mentally exhausting. From getting your home ready to sell & move, to dealing with the emotional side of leaving your home along with all of the memories that may open the flood gate, selling a home can truly be draining. Again, a very common question from homeowners considering selling their home. So just what are the steps in selling a home?
Step #1 – Hire a Real Estate Agent Professional who will deliver on their promises
If you actually want to sell your home and not just list your home for sale, you’ll want to make sure you get step #1 right! Without this, you’ll have great difficulty in completing steps 2 – 15, so get this step right! Go here to find out just how to pick a Real Estate Agent .
Step #2 – Disclose anything that may affect the value of your home
Now is not the time to cross your fingers hoping the needed, hidden repair issues won’t pop up and get noticed. It’s the time to come clean, so to speak. Discuss what the known repair issues are with your newly hired Real Estate Agent to determine a course of action on whether or not you’ll fix the repairs or simply plan on knowing that they may become a repair issue that will come up in the Buyer’s home inspection.
This will also pertain to any possible existing liens on your home other than your primary mortgage, if owed. Are there any open permits for any prior work completed on your home? Be sure to check your records to ensure the work was inspected and the permit was closed out.
Step #3 – Determine your home’s selling price
This will be the fair market value of your home. Notice I said fair market value. Wikipedia defines fair market value (FMV) as; “an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market.” This is based upon knowledge of the local Real Estate market.
Your Real Estate Agent will have completed a thorough, local market analysis by reviewing recent sales, pending sales and active sales to determine your home’s selling price; how much is your home worth?
Step #4 – Prepare home to be listed for sale
Preparation is always key when your goal is to sell your home for top dollar and fast. Remember all those little things you’ve been meaning to fix . . . plus, some of those larger repair items? If your budget allows for the repairs, by all means be sure to make the repairs. Letting needed repairs go for a Buyer of your home, will result in a requested price reduction by a Buyer whereas, had you completed the repairs yourself, you would likely be looking at a greater home sale profit. Make sure you consider this to maximize your return when selling your home. Read more about the importance of this step where Debbie Drummond, a trusted Real Estate Agent, talks about your home as an investment.
Step #5 – Prepare for home showings
Now that you’ve completed step #4, you’re ready for your home to be shown to the pool of Buyers ready and waiting to view your home and more important, those ready to buy your home. Imagine this step as setting the stage for a very important opening of a new Broadway show or how about imagining how you’d set the dining room table for a very important guest to your home. You want everything to be just right, so the minute they drive up your driveway that ever important first impression will be a favorable one; a vision where they can see themselves or their family living there. We all likely know about the effect of appearance on first impressions and the same holds true when a Buyer views your home for sale.