Selling your home is a complex, multi-step process that calls for the expertise of a Realtor®. There are many things you’ll need to consider, and to help you through it, here’s a general overview on what to expect and prepare.
Get Your Finances in Order
Don’t worry if you’re still paying off your mortgage – there are several options depending on what type of mortgage you have. However, you’ll need to talk to your lender before you can proceed.
Meet With a REALTOR®
It’s important to partner with a Realtor® you feel completely comfortable with. Don’t fall for the trap of partnering with the first Realtor® who suggests the highest asking price. Shop around. A good Realtor® can help you price your home to sell, answer questions like “When is a good time to sell?” and has in-depth knowledge of the market.
Start your search for a reputable Realtor®, by checking if family and friends have a preferred Realtor® or search online for the most visible and professional one. Visit your local real estate office; pay attention to advertisements and For Sale signs.
Listing Your Home
Pricing your home too low or too high is not an option. Setting a fair price will attract more potential buyers, and give your home more exposure. Your Realtor® should be able to explain to you the multitude of factors influencing pricing, including: competitive pricing, current market stats, and of course the estimated value of your home.
Marketing And Promotion
The next step will be to sign a Listing Agreement, which gives your Realtor® permission to post your property on MLS (Multiple Listing Service). They’ll then begin marketing your home through a variety of mediums — digital and traditional — and inform other Realtor® (representing buyers) that your property is on the market. Your REALTOR® can also help you prepare your home for staging.
Closing
After the hard work of marketing and promoting your home pays off, you’ll hopefully have a few offers on the table. Once you’ve accepted an offer, your buyer will want to conduct a home inspection and (potentially) negotiate the cost of any repairs. Finally, your lawyer and Realtor® will walk you through the paperwork and legal bits needed to close.
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