What to Consider Before Selling Your Home
If you have already decided to sell it, your next step should be to contact a realtor to view your home. The agent will be able to tell you what needs doing before listing your home. Here are some issues to consider:
Store any unnecessary items in boxes in the garage or rent a storage unit temporarily during the time your home is up for sale. You want to create a sense of space that will make your rooms look larger. Even though they may be essential to you, family pictures and religious items must go.
Repaint or Refurbish Rooms
Paint any walls that need to be repainted or touched up. Use neutral colors (such as white, light gray, light beige) and try to avoid using bright colors. Neutral colors will make a room seem larger, where vibrant colors will make a room appear smaller and will distract a potential buyer. Make any repairs that a home inspection would discover.
Have a Home Inspection
It allows you to know what potential issues may arise during a buyer's home inspection. You will have the opportunity to fix any problems and avoid requests for repairs during escrow.
Look at Open Houses in Your Neighborhood
You will be able to see what other homeowners have done to present their homes for sale. If your kitchen and bathrooms are outdated, consider upgrading those rooms, or be prepared to adjust your selling price to allow for a potential buyer to make those upgrades.
Know the Market
With your agent, review current and prior listings to help determine how long your home will be up for sale. Setting a realistic list price will help you sell your home more quickly.
Putting Up Your House for Sale
You will work with your agent to determine how your house will be marketed. The first few weeks after putting your property on the market are critical. Putting your home on the MLS and holding open houses will give you the best advantage for bringing offers.
Receiving an Offer
Hopefully, you will get multiple offers. However, when you receive one, be prepared to make a counteroffer. Keep in mind that a buyer is not likely to offer the full asking price. The buyer will have done homework with his or her agent to determine a fair market value, the same as you did.
Review the offer carefully. The price is just part of the purchase contract. Look at any terms (such as loan approval, inspections, escrow closing date) and discuss any questions with me.
What to Expect During Escrow
You will complete disclosures regarding the condition of your home and other factors (including HOA requirements, prior insurance claims.) Being honest in your disclosures will prevent any future problems after escrow closes. When making any changes to your property, make sure to inform your agent. They will disclose the alterations made to the buyer.
During escrow, keep paying any recurring costs (such as a mortgage, HOA dues, gardeners, insurance.) Escrow will prorate any money paid so that you will only pay for the period you occupy the house before the close. Remember that you must maintain the property in the same condition as it was at the time you accepted the offer.