Wanting to Sell your house? Selling a home is sometimes an exciting time in your life. Such as moving to a new area for work or family. Maybe even retirement (preferably early because you won a lottery). Sometimes life causes us to leave places we love and well, move somewhere else. We have to leave our home. Regardless there is this super expensive house, probably our greatest investment ever that we need to sell. No one wants an out of state rental.
There will be several steps that are of equal importance. So for ease I will do list them in the order that it will save most people money.
I have been selling homes for over 30 years. I have built them, renovated them and sold them. I am a Realtor in Windermere Florida. These simple steps will help you no matter where you live. Since most of you will be living outside of my area I will even share some insider information and advice. Some Realtors will not be happy about the things I will share. Feel free to share it with reckless abandon.
Step Number 1
Does your home need any major repairs? You are not going to be able to hide them. A professional Home Inspector will be following an extensive checklist and inspecting your home for 2-4 hours depending on the size etc. Some homeowners opt for an inspection before they go to market. However they are commonly $400-$700 dollars depending on which state you are in. If you choose not to have your home inspected then follow these steps at the minimum.
Step Number 2
Selling a house is a beauty contest and a bidding war, plain and simple. Now I have a great analogy for you especially for those who have used online dating. I met my awesome wife on Match.com . There were times when I went to meet people and they did not quite look like their photos. I was very disappointed. Now before you say something about me know this. I am ugly. My photos are ugly. No one was ever disappointed when I showed up trust me. My personality makes up for it.
So to get back on topic. Your Realtor or you, if your are going to try to For Sale By Owner will have photos taken. Someone will see those photos and decide to visit your home. The way the house looks when they pull up matters. It should look its' best preferably better than picture day. The lawn mowed and edged if appropriate and some plant life if possible.One more tip. If necessary take care of the insects inside and out. Even the ant colonies. You want buyers to admire the house and be eager to see inside you don't want their children to be bitten by ants or spiders etc.
Step Number 3
At this point you still are not ready to go to market. However I am going to say you need to start selecting a Realtor. You did the right thing reading this far. Here are some critical steps.
Step Number 4
So you have the outside of your home ready and the home is capable of making through an inspection. What now? We want your home to look bigger than it really is. People will be looking it closely. It should look open and spacious. We also want it to look like a model home. Assuming that you will be living in it consider these steps.
Step Number 5
Ok now for the critical part. There is about to be a bidding war. At the minimum there are two contestants, you and the buyer. Hopefully there are several buyers bidding and you get more than you expect! However if there is only one buyer then hopefully you compromise and both are happy or at least satisfied with the results.
My Broker and I have both been paid to price homes. It is called a BPO. A Bank will reach out to us when the bank repo's a property. We will tell them what it should sell for. Here are the steps that you and your Realtor should use to determine the price of your home. There are 3 lists that homes end up on when they start off for sale. The Sold List, The Expired List and the Still For Sale List. We want you to end up on the Sold List. So let's start there. What we want is to find comparable homes or comps. They need to be very similar to yours.
Step Number 6
When you get an offer it should go like this. Your Realtor should get a telephone call that an offer should be submitted soon. This will let you know that if another offer shows up to hold off on saying yes or no. When you receive the other offer. You have a choice. You can accept one. You can notify the buyers that there are two offers and to submit their highest and best offer. Most likely they will either say that was our best offer or here is our new one.
Instead of covering the process step by step let's jump to having a acceptable contract signed by both parties and the earnest money has been deposited (often buyers will try to delay the earnest money till after inspection). Your state's laws may differ on time frames so I will skip them. Ask your Realtor for time frame specifics. Normally the home inspection we discussed will be scheduled ASAP. During this period the buyer can back for just about any reason they want. Even buyer's remorse. All they have to do is say it was because of the condition of the home. This is why it was so important to address the issues earlier.
Lucky Number 7
This is the good one. The day before walk through and the closing. It is customary for the seller to have everything out of the home and have it decently presentable the day before the closing. The Buyers will be visiting the home with their family and Realtor. Hopefully the house looks stunning. If not they can cry foul and delay the closing or even worse. So just make sure to abide to the letter of your local laws and the contract most of the time things work out just fine.
Closing day what to expect-In some states you may have already closed. Sellers can do the paperwork in 20 minutes. I have closed sellers myself at their bank or wherever we could get a notary. Normally there is a small fee for closing early $50-$100. The toughest part is finding a free notary. Be careful some charge by the page ! Normally your bank will do it free if you schedule it.
A good Realtor when given the opportunity will attend the Buyer's Closing for a couple of reasons. I as a Realtor want to go by the house one more time to retrieve my lock box. I will hand the key inside of it to the closing agent to be placed with the other keys, alarm codes etc. If the buyer's Realtor doesn't come to the closing then I am going to get to know the buyers during the closing and afterwards.They have just become potential clients. I also want to carry the Realtor's payment back to my Broker if I am smart. In addition I can be there if their are any reasons you need to be contacted. Like the phone call that everything has been signed and the funds are enroute, congratulations !
At this point you have a powerful decision to make concerning your Realtor. That is writing a review for them. Make no mistake negative reviews are crushing on Yelp or Zillow. Not many happy clients write them but almost every angry one does. So if they did a good job please help them out.
Now if you live in the Orlando Florida area I know where you can find a good Realtor. If you want to sell a house or buy a house. Contact us here. We buy and sell a lot of homes and will serve you well. Thanks for reading this and if I can help let me know. Feel free to share this link