The need to sell your home arises due to a variety of reasons: the need to downsize, upsize, migrate, cash out on saved up equity, to mention just a few. Selling your home involves various complex steps that require the guidance of an experienced REALTOR®. The following are steps to consider and things to prepare when considering selling your home;
Selling your home is a complex, multi-step process that calls for the expertise of a REALTOR®. There are many things you’ll need to consider, and to help you through it, here a general overview on what to expect and prepare.
The first thing to do before proceeding any further is speaking with your mortgage lender to confirm the options available to you if you still have an active mortgage. There are usually various options available to a borrower looking to get out of a mortgage contract early, but this usually depends on the type and terms of the mortgage.
One cannot overemphasize the importance of choosing the right REALTOR® to market your home. It is a good practice to lean on the advice of your family members and friends circle from previous experience.
A good REALTOR® will help you price your home to sell and avoid wasting your time with unrealistic market expectations. A good REALTOR® with superb market knowledge can also help to answer an intending sellers questions. Another good place to start is interviewing area dominating REALTOR®’s as that shows that they are doing something right.
A good REALTOR® will help you price your home at a fair price. Using a comparative market analysis, a REALTOR® can help advise you realistically on what your home is worth and avoid overpricing or underpricing which could either discourage potential buyers from even viewing your home or cause you to loose money.
After deciding to list your home and signing a listing agreement, your REALTOR® will then list your property on the MLS which gives it greater visibility on the open market. Different REALTOR®’s patronize various marketing techniques, all channeled towards creating greater visibility and driving traffic towards your property and ensuring that it sells quick and for the right price. It is also a common practice for REALTOR®’s to help their clients stage their homes for open house and showings, all in an attempt to get it sold quickly and correctly.
Hopefully, after step 4 of marketing your home, there would be some offers that have come through and will need a response. You will accept, counter or reject these offers. After accepting the most preferred offer, the buyer will seek to have someone come in to inspect the house and also negotiate on the best route to go as per repairs if need be. With everything going smoothly, your REALTOR® and your lawyer will then guide you closely on the legal requirements needed to close the deal. At this point, you can now kick off travel plans or begin the search for a new home if that be the case.