6 steps to selling a home

Planning to sell a home in the US is a tricky and complex process. Even though buying a home as a newbie is tiring, selling is an even more enormous task. Selling a home is a more time-consuming and manageable process than anything. If you're planning to sell your property and don't know what steps to follow, congrats! You're at the right spot.

To save your time, I have a step-by-step guide for you. Follow this approach for a smooth and intelligent selling process.

Step 1: Find an estate agent.

The first step here is tricky before you dive in and seize the opportunity. Most sellers have everything planned and organized but don't know how to sell. What is the use of doing all the paperwork and planning everything if you fail to sell the property? Let's be frank; you cannot go to the streets to sell your home. In this case, a seller requires an estate agent or realtor capable of doing the needful.

Estate agents have a list of potential buyers and are experienced in selling the property. They understand the needs of the buyer and bring out the best possible price for selling your property. They provide huge profits and net worth that is otherwise not possible for the seller to do on their own. They charge a specific commission after the house is sold.

Step 2: When to sell the home

When a property is listed in the market, the seller should sell it in lesser time. Selling a property at a definite time is beneficial and leaves a good market impression. Therefore, when a seller should sell the property is a crucial aspect for most sellers. Months play the same significant role as the date.

For example, if a property is listed in the market in February, it would take around 60 days for sale. In contrast, properties listed between the period of April and June take 50 days approx. For sale.

Step 3: Setting a price

Here comes the tricky part. Setting your property's price would either land you a good deal or won't be beneficial at all. Pricing your home depends upon several factors-

  • Take a closer scan of the area where your house is situated. Area marks tremendous importance to the pricing of your home. Keep in mind that location plays a significant role in the pricing because the ambiance and environment get brownie points while selling a house.
  • See if there are properties similar to yours in the area and their pricing. Compare that price to yours.
  • For a faster selling process, you can set a lower price for the house. However, it won't be profitable, so think before you rush.
  • The seller can use some online tools to generate a reasonable price for the house.
  • Sellers will be able to price their homes decently if they apply for an appraisal. It will help in increasing the price and market value of your house.

Step 4: marketing and showing your home

Effective marketing can be fruitful if done right. Worry not; follow these steps for effective marketing of your home to make the buyer grab the deal right away!

  • Decoration: Make your home presentable. Especially lighting plays a significant role in the proper presentation of the house. Choose a good local or online store for purchasing esthetic furniture and lights. Upgrade to modular kitchen and install modern kitchen and bathroom appliances. It helps in increasing the price of the house by a notch.
  • Good listing description: Advertise and market your home with a good listing description. Hire a professional writer or write an engaging peace yourself. This description would lure the buyers into purchasing the property.
  • Advertise your home: It is essential to let the potential buyers know that you're putting your house on sale with a good caption.

You can show your home by maintaining it perfectly. Make sure the condition of the house is worth living. Apart from that, you can show it in an open house too. It would be more convenient this way as potential buyers would be present to acknowledge.

Step 5: Appealing offers and negotiations

Once your offer has been accepted, the buyer tends to put forward a lower bid in contrast to your pitching price. However, to save you from losing the buyer, the following are the crucial steps-

  1. Stick to your listing price. If your house meets the excellent standard of living, don't lessen the price instantly. Agree for a lesser price only if it is mutual from your end and doesn't lead you towards the loss.
  2. Set a deadline for your offer. Show them what facilities they get in your proposal with that price and how it varies from other properties in your area. Set a 24 hours deadline where they can revert with an answer to your pricing.
  3. In extreme cases, you may agree to bear the closing costs. This step is helpful for new sellers only.

Step 6: Provide for closing cost and appraisals.

Once the documentation process is completed, you will move ahead with clearing the closing cost. Your real estate agent would explain it better to both of you. You will pay a previously committed commission to the agent after the deal is done. Following are the steps involved for the closing cost-

  1. A home inspection is conducted where qualified professionals check for the damage and repair issues in the house and the environment, and other structural problems. In Florida, a home inspection takes around 14 days or less.
  2. After the home inspection, the buyer's lender orders for an appraisal. An appraisal is done to make sure the house is sold at the correct pricing, and they don't have to pay an extra amount for the property than its original price.
  3. Finally, the buyer is supposed to stay in the house for 24 hours and check if everything is fine and the seller didn't hide anything.

Great! You're all set to sell your property to the buyer with the help of the steps mentioned above.

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