The Home-Selling Process
Once you've reviewed your reasons for selling and have confirmed that you can afford to sell and buy a new home, you're ready to begin the selling process. There are ten steps to selling a home, each of which this guide covers in depth.
- 1. Timing the sale: You'll need to decide how to time the sale of your current home with the purchase of your next one. You'll also need to determine the best time of year to sell.
- 2. Real estate agent vs. "for sale by owner": Should you hire a real estate agent or sell your home on your own?
- 3. Finding and hiring an agent: If you decide to use an agent, you'll have to find one you like and trust.
- 4. Preparing your home for sale: Before you show your home to potential buyers, you'll need to prepare it by making repairs and improving its appearance.
- 5. Setting the right price: Pricing a home effectively can help you sell your home quickly and often profitably. Before you list your home, you'll need to research and decide on an effective asking price.
- 6. Marketing your home: Marketing is the process of attracting potential buyers to your home. These days, marketing involves a multifaceted approach that includes newspaper ads and internet listings, as well as "For Sale" signs.
- 7. Dealing with offers: Once you've attracted potential buyers, you'll compare several offers and negotiate a final price.
- 8. Pre-closing details: Before you finalize the sale of your home, you'll need to get through various steps, including inspections and negotiations for repairs.
- 9. The closing: At the closing, you'll receive money, turn over the keys to the buyer, and sign various documents that finalize the sale.
- 10. Postclosing details: After the closing, there are a few details you'll need to manage, such as making sure your tax records regarding the sale are in order.
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