You’ve got a lot of money on the line. How much you sell your home for can directly impact your next move. From posting the For Sale sign to signing on the dotted line, make sure you’re not losing time and money. This guide will help you stop the gaps and ensure smooth sailing as you sell your first home.
LISTING YOUR HOME FOR SALE: 101
REALTOR
Find the right realtor. This will be someone local who has a good understanding of how to sell homes in your area. You also want someone who communicates in a way that is helpful and easy for you. Making the wrong partnership up front could be detrimental to an easy home selling process.
PRICE/COMPS
A great realtor will be able to coach you on this. Your home value should beobjectively assessed based on comparable homes on the market. Do you want to know your home value? Go here for a free estimate from an expert in your area.
LISTING & DESCRIPTIONS
Most people will find your home online. How it’s described is a huge make it or break it for keeping their attention and encouraging them to stop scrolling. Crafting the right copy can alert buyers to the desirable facts and features about your home.
PICTURES & VIDEOS
It’s a digital age. Prospective buyers will favor homes that have great, professional photos and even video tours. There are plenty of ways to capture great digital media, even if you only have a smartphone.
BONUS TIP
Two selling points for a home could be having it inspected before buyers start looking at it and having a transferable home warranty. Both of these could improve the value of your home in a buyer’s mind.
8 WAYS TO PREP YOUR HOME TO SELL
In a snapshot, here are the eight steps you’ll take to prep your home to sell.
1. Make as many minor repairs as possible.
2. Decide if any major repairs need to be made.
3. Improve curb appeal outdoors: landscaping & grooming.
4. Deep clean your home: walls, flooring, ceilings & fixtures.
5. Clean your windows inside and out.
6. Declutter and depersonalize your space.
7. Neutralize your decor.
8. Do a walk-through and improve anything else you have missed.
You may be surprised to uncover issues that would deter buyers. Do a thorough assessment of your property and make all of the fixes you can. This will show buyers that the home is “move-in” ready, which is a great motivator to “BUY NOW!”
Bonus Tip
You may be booking showings in-person or online. For either, establish a clear system with your realtor so that you know what is happening when and are always prepared.
NEGOTIATING YOUR HOME SALE
In real estate, negotiating happens in the form of counteroffers. You may receive an offer but want to counteroffer. This could go back and forth a few times.
What can you negotiate?
Here is some info about what you may be able to negotiate:
- Percentage of closing costs
- Home warranty premiums
- Repairs related to the inspection
- Possession or closing date
- Cosmetic updates
- Furnishings
- Household items
- Home price
- Mortgage loan points
How should you negotiate?
Your real estate agent will be your negotiation advisor. Here are some tips when it comes to negotiating your home sale:
- Take charge and be direct
- Understand contingency clauses
- Work with your bank
- Encourage a bidding war
- Don’t be emotional
- Be realistic
- Be creative
ALL ABOUT CLOSING
You’ve made it! After all of the prepping, showing, bidding and negotiating is done you are on your way to the closing table.
Here’s what you need to know about closing on the sale of your first home:
Players:
Escrow officer
Mortgage professional
Attorney
Title insurance agent
Home inspector
Buyer
Seller
Timeline from listing to closing: On average, 41 days
Closing checklist:
Home inspection
Appraisal
Loan documents
Homeowners
Insurance
Steps:
Final walkthrough
Sign documents
Final financials
Ready to roll on the sale of your first home?
Get in touch today and get expert guidance to go through this process!
