This article is the first in a three-part series where we’re going to be telling you everything you need to know about selling, buying, and moving homes. Today, we’ll be sharing all of the ins and outs that come along with selling a home. There is also a free downloadable checklist to help you prepare your home to sell.
So, if you need help selling your home or are looking for more information then you’ve come to the right place! Stay tuned on our blog for the next couple of weeks when we’ll be releasing parts 2 and 3 of the series, which will cover buying a home and moving. If you have any further questions or would like to know more, feel free to give us a call at 250-864-HOME (4663) and one of our team members would be happy to assist you. Let’s get started!
Get Your Finances in Order
When you’re thinking of selling your home, the first step is always to take a look at your finances and make sure you have a clear picture of where you stand. If you are buying at the same time, look into the expenses of buying a new home and what you can afford.
It may also be worthwhile to look into timing and costs for doing renovations that may increase the selling potential and/or value of your home. Finally, you’ll want to set a budget for any renovations, repairs, home staging services, and closing costs.
Talk to a Real Estate Professional
Once you’ve got your financial situation worked out, the next step you should take is to find a Real Estate Professional. They will help you through the entire selling process, provide advice about the local market and current sale prices, and handle the listing and marketing side of selling your home.
It’s important to find a Real Estate Professional that you like, so don’t be afraid to shop around and view the list presentations of a few to help you decide who is best equipped to help you sell your home.
Prepare Your Home for Sale
Your Real Estate Professional can give you some tips on how best to prepare your home for sale, but in general there are some key steps you need to take:
- Deep clean your entire home
- Touch up scuff marks and paint
- Consider painting bold-coloured or wallpapered rooms in a neutral colour
- Remove personal effects such as photographs and knick-knacks from every room
- Replace any burnt out light bulbs
- Take care of small repairs such as loose door handles, broken or bent window blinds, and squeaky doors
- Declutter your home and donate or pack anything you won’t need while you sell
- Decorate sparingly, adding modern touches such as throw pillows and blankets, plants, and a bouquet of flowers or fruit bowl on the kitchen counter
- Hide your valuables in a safe place
Click here to download a printable Home Selling Preparation Checklist!
Listing Your Home for Sale & Marketing
This is where working with a Real Estate Professional comes in handy. They have access to the Multiple Listing Service (MLS) where they can list your property for you. They will also work to promote it in their network.
You can sell your home without the help of a Real Estate Professional, known as For Sale By Owner (or FSBO for short). However, you will need to be prepared to do all of the legwork and you will need to know the ins and outs of the housing market, such as what price to list your home for, how to market your home yourself, etc. This usually ends up costing more time and money than a Real Estate Professional’s commission.
Once you have gotten one or a couple offers on your home, your Real Estate Professional will help you review them. The right choice is not necessarily the offer with the highest price; it’s important to consider any finer details, such as subjects within the offer.
Finally, it comes time to close. Again, your Real Estate Professional should handle all of the specific action items. Closing costs typically include any adjustments, such as property taxes for the year; real estate commissions; legal fees; taxes; and any penalty payments on your mortgage payout, if applicable.
And there you have it – that is everything you need to know about selling your home! If you would like a more in-depth guide, make sure you check out our free-to-download Seller’s Guide. Or, contact us with any questions – we’d be happy to help!
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Featured photo by Tierra Mallorca on Unsplash