- Step 1: Hire a Qualified Agent
- Find a qualified agent to help you sell your home. Ask friends or colleagues in the area for a referral to a good agent that they may know. Real estate is a very referral based business, most people will be happy to give a referral if they had a good experience.
- It also may help to find an agent who specializes in selling homes like yours. Many agents focus on a certain niche like a style of home or certain geographic area.
- Step 2: Set a Timeline
- Your timeline may be based in part on your needs, such as how long you need to stay in your home before the home you are moving into is ready.
- Your agent may also have some insight into a timeline, as many markets can rise and fall with the seasons, for example.
- Work with your agent to decide on the best timeline for your home.
- Step 3: Prepare Your Home
- You will likely want to get your home inspected before it hits the market.
- Have all needed repairs completed on the home. Many lenders will be reluctant to approve a loan on a house in poor condition. Make sure you use a properly licensed contractor if making repairs after the home inspection.
- You may also want to make some minor renovations. Your real estate agent will help you decide what renovations will give you a positive return on your investment at sale time.
- Even if you are not doing any renovations, it is a good idea to maximize your home’s curb appeal by doing some basic landscaping and decluttering the outside and inside of the home as much as practical.
- Step 4: Put Your Home on the Market
- A good real estate agent will list the property at a price that will attract attention.
- It’s generally better to attract a lot of attention and let buyers get into a bidding war than to have to lower the price.
- Step 5: Negotiate with Potential Buyers
- Your agent will keep you abreast of the negotiations with the potential buyers.
- You may not always want to accept the highest offer. Contingencies or potential credit issues that may cause the deal to fall through prior to closing may want to be avoided.
- Step 6: Close on the Sale
- Your agent will help you gather all required documents prior to closing.
- Property taxes, closing costs and remaining mortgage balances will all have to be accounted for.
