Selling Your Home: Made Simple
If you have never sold a home before, you might be apprehensive or unsure of the process. Familiarize yourself with the following steps to get prepared!
Define Your Needs – It’s important to be able to clearly articulate the reason for selling your home and what you need to accomplish with the sale. Do you have a growing family and need to purchase a larger home? Are you ready to downsize and use some of the proceeds of your sale for retirement? Be sure to share your home selling goals and timeline with your real estate agent.
Name Your Price – When listing your price, it’s important to set a fair asking price from the outset. Doing so will generate the most interest and activity from other real estate agents and buyers. Selling your home is personal and it might be difficult to remain unbiased on the price; it’s understandable considering you may have spent years investing your time and financial resources into the property. Your real estate agent will be able to help guide you to an appropriate price based on market conditions.
Prepare Your Home – The condition of your home will influence the interest and the price at which is sells. Your real estate agent can help you take a fresh look at your home and help make suggestions on ways to make it appeal to a wide-variety of buyers. Simple ways to do this include: removing personalization like family photos and mementos; making minor repairs and replacements; and removing clutter.
Start Spreading the News – Your real estate agent will set up a marketing strategy for your home. Some of the ways that he/she will do this include: listing on the MLS; online advertising; yard signs; open houses; media advertising; agent-to-agent referrals; and direct mail campaigns. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.
Receive an Offer – When an offer comes in for your home, your real estate agent will find out if the buyer is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract to understand what is required of both parties to close the deal. The contract should include (but is not limited to) the following information: legal description of the property; offer price; down payment; financing arrangement; list of fees and who will pay them; deposit amount; inspection rights and possible repair allowances; method of conveying the title and who will handle the closing; appliances that will remain with the home; settlement date; and contingencies. You have three options at this point: 1. Accept the contract as is; 2. Counter the offer with terms that are more amenable to you; 3. Reject the offer.
Negotiate to Sell – Most offers to purchase your home will require some negotiating to come to an agreement. Your agent is well versed on the intricacies of the contracts used in your area and will protect your best interest throughout the negotiation.
Prepare to Close – Once you accept an offer, it’s time to make a list of everything that needs to be accomplished. Those things might include: formally appraising the home; surveying the property; inspecting the property; repairing the property. Your agent will guide you along this process.
Close the Deal – Closing refers to ownership being transferred from the owner to the buyer. This takes place in person and in NH, you can expect that your agent, the buyer’s agent, the buyer, the title company, and an attorney will be present.
Need help? We’d love to talk to you. Connect with Atherton Real Estate Group today!