Selling a home is a big decision. It is an extremely emotional, overwhelming, and stressful affair. That being said, homeowners usually face problems understanding how the selling process works — and how to find a buyer as soon as possible.
That’s precisely why we are here to help. Following is a ten-step checklist to get you through the home selling process. Use it as a resource, and you will know what to expect as you head in different stages of the home selling process and towards what we call a quick and easy settlement.
Define Your Need To Sell
- Understand your goals for the next ten years? Do you plan to move again in this period?
- Weigh the pros and cons of making this decision.
- Calculate your home’s worth.
- Know the local housing market.
- Consider other options, like renting your property out.
Calculate Your Selling Expenses
- Get a home inspection done, list the repairs, and estimate the associated costs.
- Analyze the projects that you can afford, and then adjust how much you expect to get for selling your home in Burlington real estate.
- To boost the value and curb appeal of your home, consider home remodelling projects.
- Determine the costs involved in selling:
- Professional home inspection
- Real estate agent commission
- Seller concession
- Repair costs
- Closing costs
- Moving expenses
- Cost related to getting a mortgage for a new home.
Make Your Strategy
- Determine the time-frame in which you want to sell your house.
- Hire a reputable real estate agent and list your property on various platforms.
- Plan your sale during the hottest homebuying seasons according to your location.
- Determine why your home is unique and promote them in all advertising.
Determine the Market Value of Your Home and Set a Price
- Collect information on “comps” in your area with similar construction, sold in the last six months and are currently on the market.
- Browse listings for Oakville homes for sale to get a sense of the current local market.
- Prepare a comparative market analysis or ask your real estate agent to do so.
- Evaluate the market – what are the trends, know whether it’s a buyer or seller market.
- Use all these details to determine your listing price. Consider various marketing strategies to tempt the buyer.
Advertise and Market
- Put “for sale” sign.
- Real estate publications.
- Multiple listing service.
- Classified sections of the newspaper.
- Advertisements on websites.
- Use professional photos and videos to showcase your home.
Prepare, Prepare, Prepare, and then Stage It
- Declutter. Discard everything you don’t need; anything that is taking up extra space.
- Make necessary repairs. Repaint the house, if necessary.
- Stage every room, every area of the house, so that buyers can imagine themselves living in the home.
- Replace outdated fixtures.
Home Showings and Open Houses
- Deep clean the house, and keep it ready for showings at all times.
- Set appointments or give a key to your estate agent so that buyers can see the home even when you are not available.
- Ask your agent for constructive feedback. Ask him what the prospective buyers thought of the house. Did they mention any changes that should be made?
Review The Offer Price
- For each buyer, note the offer price, preapproval letter, the contingencies, proposed closing date, move-in date, etc.
- If you get multiple offers, take your time to decide.
- Don’t get swayed by emotions. Keep calm when receiving lowball offers.
- Negotiate every offer. Counter the buyer with contingencies.
- If the buyer does not agree to the price, make offers that don’t require cash out of your own pocket, such as paying for part or all the buyer’s closing costs, repairs during the property inspection.
- Make a full counteroffer if you think your home is worth that much.
- Don’t forget to mention the closing and move-in date.
Get Through Escrow
- Create a plan for handling home repairs. Justify and mention, when they will be done and who will pay.
- Prepare the home for appraisal and inspection.
- Choose an escrow officer who will do the deed.
- Sign the closing contract and documents.
- Move out of your home.
- Keep the copies for all the documents.