6 Steps to Selling a Home

When it comes to selling a home, what you don’t know can cost you time and money. That’s why it’s important to have a basic understanding of the home selling process. Learn more about the 6 steps to selling and give your real estate agent a call.

Your real estate agent is one of the keys to a smooth sales transaction. Find one that listens to your needs and takes your concerns seriously. You want someone who has a valid license for your area and is free of disciplinary actions. Check reviews from previous clients to get an idea of how they handle their business. Talk about communication expectations. You want a real estate agent who agrees to your terms when it comes to updates and methods of connection.

You may think that this is optional but staging your home helps present your property in the best light possible. Your goal is to hook the potential buyer from their first impression of the outside and make them want to look closer at the inside.

Start outside by making sure your yard is free of debris and toys. Keep the lawn trimmed and flower beds neat. Add some colorful flowers by the front door, and don’t be afraid to paint your front door a dazzling color that draws attention.

Clear away any clutter inside your home and pack personal collections, photographs, and anything that could be controversial. Create appealing furniture settings that are free of extra-large pieces that make the room seem crowded. If needed, bring in a professional to help you stage.

This part is like the story of Goldilocks: your price can’t be too low nor too high, it must be just right. Before pricing, be sure to check out the competition. Ask your agent to prepare a Comparative Marketing Analysis of adjacent homes; a CMA will state listing price, time spent on the market, and selling price. Then assess if your area is a hot market or not and if houses are moving or stagnating.

Overpricing the property can result in ostracizing many buyers, who won’t even inquire into the property after being dissuaded by the price. Also, you’re setting up your property to stagnate and stay on the market for months.

Underpricing is just as bad. The risk of losing money on the sale if the property was worth more than your sell price. Low prices can attract negative attention and impressions. Buyers may think you’re hiding something; it can also lead to super low offers when negotiations start, which is plain disheartening.

Once an offer is on the table, one of 3 steps are next: accept the offer, counteroffer, or flat-out refuse the offer.

Should you be leaning toward accepting, be careful and don’t rush things. Review the terms and conditions of the offer and look it over with your agent. You can also opt to review it with an attorney. Read the fine print. Hash out sale specifics, like if the furniture goes with the home or not. Don’t rush into things.

On the other hand, don’t dally about. Time wasted on hesitation is time that your buyer uses to look at other homes.

First and foremost, do not ‘ghost’ your buyers or real estate agent. This means no impulsive vacation getaways to Bora Bora. You might be excited, but the deal is not done. Try to stay in town for a bit.

It is at this time where you will disclose certain information that may be required by law. This sort of information is the type that may dissuade the buyer from finalizing the sale.

Depending on the state, a home inspection might be required or requested. This is to ensure the property is structurally sound. Also, a septic certification inspection is conducted of any septic tanks or wells on the premises.

A title search then comes into play. This is to assure the buyer there are no extraneous or unsettled claims on the property.

Then, a property survey to map out the perimeter of the premises and all that lies within.

Finally, one last walkthrough takes place, where the buyer can back out if they so choose.

A multitude of documents either exchange hands, are signed, or must be brought as proof and verification. These are:

• The deed to the house.
• Bill of sale
• HUD-1 settlement
• Information verification statements
• Loan payoff bill
• Certificate of title

Keep in mind that, unless settled beforehand, this is the day where agent commission fees, loan fees, transaction taxes and other bills must be paid in full. Otherwise, congratulations – you have officially sold your home!

Your real estate agent is the best source of information about the local community and real estate topics. Give Zatta Real Estate Group a call today at (225) 279-4668 to learn more about local areas, discuss selling a house, or tour available homes for sale.