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For most people, their home is their largest asset, and deciding...
to sell it is a
big decision that involves a lot of preparation and work.
So are you ready to sell your home? Sellers that take a hands-on
approach are in a better position to accomplish their goals.
Whether you're selling your home for the first time, or you're a
real estate veteran, you may want to consider adopting the
following suggestions:
10 STEPS TO SELLING A HOME: |
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01) DETERMINE HOW MUCH YOUR HOME IS
WORTH
The asking price you set is the key to selling your house
quickly and making the most profit. The weight of this decision
is critical to a successful sale. A comparative market
analysis (CMA) prepared by a local real estate professional will
show you recent nearby sale prices of houses like yours, the
asking prices of current competitive listing and even the asking
prices of comparable neighborhood houses which didn't sell.
02) ESTIMATE YOUR COSTS TO SELL
Before you make the final decision to sell your house, be sure
to consider the costs you will incur before, during and after
the process. In a real estate transaction, the seller is
responsible for the cost of certain expenses such as house
inspections, surveys, paying the portion of yearly expenses such
as property taxes and/or association fees during the period of
time you live in the home.
03) ALIGN YOURSELF WITH AN EXPERT
If you're ready to get serious about putting your house on the
market, this is a great time for you to have an expert by your
side to be your partner and sounding board, protect your
interests, and make the selling process as convenient as
possible, saving you time and money. Find a qualified real
estate professional to assist you with selling your home.
04) HOME LOAN PRE-APPROVAL
If your buying a new home while trying to sell your current one,
we recommend that you complete a new home loan pre-approval process. In
addition to determining the best loan for you and
current interest rates, you'll want to be pre-qualified to know
what price range you can consider and any implications that may
result should your current home not sell as quickly as you hope.
Aligning yourself with a trusted mortgage representative early
on will allow you to plan for special financing options so that
you don't miss out on your dream home.
05) PREPARE AND REPAIR YOUR HOME
In an effort to boost curb-appeal, most houses need a little
improvement and repair before they go on the market. Key
strategies for staging a home to sell include removing clutter
and personal items. Consider making easy repairs before you put
your house on the market. Potential buyers will flick switches,
turn appliances on and pull back rugs, so if something doesn't
work or needs repair, fix it. Make sure your home has "curb
appeal" by keeping your yard tidy. If your house looks dull or
spaces look too small, painting may be the most economical
investment you can make before you sell your house. Most
importantly, really clean your house before you show it. It's
simple and free, and it can make all the difference in the
world.
06) DEVELOP A MARKETING STRATEGY
A local real estate professional will help you determine a
competitive and fair price for selling your house, create a
customized marketing strategy with details about what methods of
advertising will be employed to attract buyers to your house and
a negotiating strategy for when you start to receive offers.
07) RECEIVE AN OFFER
Receiving an offer on your house, accepting it and signing a
purchase agreement is a huge step; it should not be taken
lightly. Don't find yourself agreeing to something you don't
want - make sure you know what it is you're signing. Remember
all offers are contingent on certain conditions, so be sure you
know what the buyers contingencies are and the time limits that
have been placed on each condition. Real estate transactions are
complicated and translating the legal documents can be
challenging. It's never too early to start working with an
expert.
08) NEGOTIATE TO SELL
Everything is negotiable. When it comes to a purchase offer,
everything from the purchase price to the washer and dryer is
negotiable. When you receive an offer to purchase, be sure to
know exactly what the buyer is asking for and what you are
willing to negotiate. Most home buyers are expecting a counter
offer from the seller, so don't shy away from rejecting the
first offer you receive. It's never too early to start working
with an expert who will ensure fair negotiations and protect
your best interests during the process of selling your house.
09) CLOSING
Congratulations! You've accepted an offer on your home and all
that's left is the official signing of the legal documents. Once
a closing date has been set, your title company will contact
your mortgage company to take care of payoff procedures. You will need to make
repairs that were agreed upon from the inspection. And finally
keys will be exchanged, documents will be signed and funds will
be transferred on the day of closing. Most closings can be
hassle-free if you have the right people working on your side. |
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