When it comes to property, you can never be too informed. This is especially true when it comes time for you to sell your house. The steps to selling a house may initially come across as intricate and complex, just as it was when purchasing the property.
Fortunately, communicating with a qualified real estate agent will be a great asset for this journey. The agent can help you navigate the seller’s market, ensuring that you get the best value possible for your property. As long as you have some critical steps known, you will be secure in knowing the process can end smoothly.
This home sale checklist describes the seven steps to selling a house:
Step #1: Get In Control Of Your Finances
One of the most critical steps of the house selling process comes first. Whatever occurs in the future, you’re going to want to be cognizant of your financial situation. This is especially important as it pertains to getting pre-approved for financing and your mortgage. If you want to move ahead with selling, it is viable that you let your mortgage provider know in advance.
You’ll also want to discuss if penalties exist in connection with the terms of your current mortgage. Finally, if you’re considering purchasing a home in the future, you may also want to consider the type of mortgage to get as well.
Step #2: Ensure You Get Several Valuations
Before selling a house, it is also crucial to get multiple assessments on your home from different agents because this is one of the most important step to selling a house. As appraisals may vary from agent to agent, you are going to want to be as up-to-date on the value of your home before going ahead with an asking price.
Some real estate websites offer free property valuations as well, making it easier to set up a dialogue between yourself and a potential agent.
Step #3: Find A Trusted Real Estate Agent
The next step of selling a house is to form a partnership with a listing agent you trust. Remember, these agents represent you first and foremost, and have an obligation to represent your best interests as it pertains to your home. This is where years of experience should be your priority.
Try to find an agent that has had several years of experience within the industry and is knowledgeable enough to understand what you have in mind. It is recommended that you meet with at least a few before offering them that first handshake to confirm your business relationship.
Step #4: Preliminary Preparation
If you haven’t gotten to it yet, now is the time to do so. You’ll want to have your home looking in pristine condition, as this will translate into the pictures used to sell your home. This not only inflates its value to potential buyers, but will help in driving more to visit the property itself in the long run.
Be aware of things such as lighting when taking pictures, as a poorly-lit shot of the interior may not be as appealing to a buyer. Make sure all rooms are cleaned and floors are vacuumed to maximize its visual layout.
Step #5: Review And Accept An Offer
Once the selling process is underway, take the time to review all offers. This means considering even the ones that may come across as lowball offers. Remember, you are fully in control of this process, so counteroffer if you feel like it is necessary when considering factors such as the property’s market value.
After finding the most suitable offer, you can then proceed to negotiate a draft contract and fill out the applicable questionnaires. These items are pivotal to the selling process, as they contain information regarding the boundaries of the property and the various fixtures to be included in the sale.
Step #6: Exchanging Contracts and Moving Out
After all the contracts have been drafted, the actual sale of the property will commence. At this point, there is no turning back legally or you risk being sued.
Once a mutually agreed upon date to move out of has been established, you’re going to want to move quickly and ensure all your things are in order before vacating the property. Now would be a good time to start calling in those favours that family and friends owe you to help you move!
Step #7: Closing the House Sale
You’re almost there! As the final step in the process, you are going to want to attend the closing for a few reasons. The transference of the deed and the title to the property will be made to the buyer. Applicable financing documents and insurance policies are also exchanged at this juncture. Be aware of other costs that you’ll have to make as a seller as well, such as agent commissions, loan charges, and other fees.
Selling a home is no small feat, as the process is as meticulous as one would expect it to be. Your home, however, is an extremely valuable asset and deserves to be treated as such when selling in order to maximize your investment. Don’t be afraid to question everything in the process, as you are fully in control of the process every step of the way.