This guide explains what is necessary to sell a home in 11 steps, and contains important information about the process. Coupled with the right real estate agent for guidance, this approach can help to sell your home at the best price, with the least hassle.
Having the Right Listing Agent Matters
When you are working with a specialist in the area, you have the upper hand during the entire selling process. This local knowledge will provide you with trustworthy insights into pricing trends for properties, the current market, and to make certain your representation during the negotiation stage is both solid and reliable.
Getting Ready to Sell Your Home
There are several different factors you should consider before deciding how much to ask for your home. This includes the general condition of your home, any major upgrades or renovations necessary, and how much inventory is currently on the market at the time.
Listing Your Home
A precise balancing act is necessary to ensure the correct listing price for your home. If the price is too high, your home can remain on the market for months, years, or simply not sell. If the price is too low, you may be missing out on the opportunity for a lucrative outcome.
Marketing Your Property
In order to maximize the number of potentially interested buyers, offers and showings, a wide variety of advertising must be used in a coordinated manner. Experienced listing agents will have a lot of options to maximize the exposure of your home.
Scheduling Your Open House and Showings
It is critical you keep your schedule as flexible as you can during this time. Yes, your comfort and privacy are both important. Despite this, not all buyers are able to be flexible regarding when showing your home is convenient for your needs.
You do not want to lose a potential buyer due to inflexibility. It is just as important to ensure your home is de-cluttered and clean to make certain it is ready to show during any reasonable period of time.
Accepting An Offer
Once you have received an offer, there are four choices. You can accept the offer exactly as written. This means you are ratifying the offer, or are in a contract for selling your property. You can make a counteroffer by negotiating any terms including the purchase price, contingency periods and the escrow length. A back-up position can be offered if another offer has already been accepted. The buyer is then able to ratify their offer if your first offers falls through or cancels. Your final option is rejecting the offer.
The Inspection and Escrow Period
When you have accepted the offer and have been provided with an executed contract, the inspection and escrow phase begins. This is when the deposit of the buyer is placed in an escrow account, all disclosures and documents including the sale contract are analyzed, and the buyer has shown good-faith.
During this time your home is removed from the market, and the buyer is expected to purchase your home as long as no serious issues with your property are discovered when due diligence is performed by the buyer during inspections.
Your Final Move
During this stage, you need to be completely moved out of your home. Everything needs to be thoroughly cleaned, with all repairs you have agreed to complete. Your home needs to be maintained until the final-walk through of your property is complete. This includes your landscaping, pool maintenance and leaving your utilities on. A smooth final walk-through means there should not be any delay regarding your closing.
The final walk-through is the last chance the buyer has to examine your home prior to taking possession. The scheduling should be between 24 and 48 hours before closing, or as close as possible. The walk-through ensures the buyer there have been no changes to the condition of your home since the last visit. This is also a confirmation all repairs have been done, and you did not cause any damage when you moved out.
The last step in any real estate transaction is the closing. On this date, you will sign over your deed to the new owner. Ownership is officially transferred, and the buyer receives the keys to the home. The balance is paid in full by either the bank or the buyer including title search services, mortgage and homeowner’s insurance, prorated property taxes, title insurance, and when applicable, condo or HOA fees. During your closing, the buyer will pay the closing costs which vary per transaction.
Refer My Services to Your Friends & Family
As we get to know each other, you will know that referrals from great clients like you are a key part of my business. By the time we get to this stage, I will do everything possible to make sure you have a smooth and successful transaction and have earned your trust to recommend me to your friends and family looking to buy or sell a property in Miami.
THINKING OF SELLING?
Whether you are planning on selling in the near future or down the road, it is always a good idea to get an accurate value of your home to plan accordingly and maximize your potential value when you do decide to sell.
Email me your wish-list and include the following:
- Property Address
- Desired Selling Price
- Your Timeframe For Selling