A Step-by-Step Guide For First Time Home Sellers
Wednesday Jan 15th, 2020
Have you been thinking about selling your home but don’t know where to start? Well, you are not alone. Every first-timer home seller is as confused as you are right now. Whether you are relocating for school or employee reasons, need more space, or ready to downsize. Whatever the reason is – let me tell you that selling home can be both stressful and emotional. From resisting the urge to not sell the place because of attachment to finding the best price, it is too much, especially for first-time sellers.
It is crucial that the first time home sellers understand what costs are associated with selling a home, what the home sale process entails, and other significant factors. That is why I have come with the first time home selling guide. Let’s talk about it!
01 – Identify Your Motivation For Selling
Take out some time to explore your reasons for selling the house. It can be an expensive and challenging process so make sure to be certain about your decision before you go too far in it.
Make a list of non-negotiable – List out all the critical aspects of moving, such as what’s your budget for pre-listing home improvements? What’s your time frame to move? What’s the minimum sale price you will accept? Jot down all the must-haves and deal-breakers.
Consider finances – Contact your current loan servicer to discuss the mortgage balance. It will help you understand how much equity you will have at the time of selling. Knowing this figure will help you save money for improving your home before listing it. You can also plan your future home purchase with this.
02 – Make A Proper Research
Having an understanding of your local real estate market is essential because it helps you know the best time to sell. Mortgage rates fluctuate quickly, and every local market varies from area to area. Educate yourself about the real estate market before making any decision.
03 – Find the Right Real Estate Agent
Another tip for home selling is finding the right agent to sell your home. They will help you set the right price for your home, negotiate offers, and walk you through every single of the home selling process. Don’t just pick any real estate agent. Instead, arrange a meeting/interview with different agents and then select the right one for your home selling process.
04 – Prepare Your Home To Sell
Before you list your home for selling, there are lots of details to take care of. Now is the time to fix all those little household problems that you’ve had been ignoring for a couple of years. Have a leaky toilet, a latch that doesn’t work, or an electric outlet that doesn’t function? These details may seem small, but it’s crucial to fix them to have a well-maintained home for selling.
Go for inexpensive touch-ups and polishes, and not costly renovations. Be smart when it comes to repairing your house.
05 – Market Your Home
Your real estate agent will use different tactics to get buyers attracted to your property. Some of the basic things your agent will do include – home listing, yard sign, multiple listing services, social media, videos, flyers, and direct mail. It’s your choice about how you want to market your home for sale. Take some excellent and attractive photographs of your house to get the attention of more buyers.
06 – Negotiating And Accepting An Offer
Negotiation is one of the most important things in the whole process. Your agent plays a significant role when it comes to negotiation, as he makes sure that your best interests are represented. This includes having realistic expectations – know what you can give up and what are absolute deal-breakers. The negotiating part of the process can be tricky, but having an experienced agent by your side will lead to a successful deal.
07 – Close the Sale
The last step of this guide about home selling includes closing the sale. This is the step when you sign the final paperwork, make it official, and receive your check. Make sure to fulfill all the commitments you made with the buyer before you finally walk-through the house for one last time.
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