Selling
As an alternative to working with a real estate agent, you might be thinking selling a home yourself is easy; however, if you choose this option, be prepared to dig in—it’s a lot of work! Whether you use a real estate agent or not, you still need to do your homework and be prepared. Here’s a checklist to help walk you through the process.
You should become familiar with facts about your property such as property taxes, zoning, lot size, and square footage. Look at the terms of your existing loan.
How much are properties similar to yours selling for? What are the terms of those sales? What property disclosure laws do you need to take into consideration?
Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price.
Contact lenders in your area to determine the options for your prospective buyer. You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.
Look at your property from the perspective of both the prospective buyer and the inspector. Outside: fresh paint, a well-kept lawn, attractive windows and doors, a roof and gutters in good condition. Inside: fresh finishes, working appliances, sound plumbing and electrical, clean floor coverings, working light fixtures — small, inexpensive fixes here can make or break a sale.
Most prospective buyers will want to know about local schools, shopping, parks, and transportation. Be prepared so you can knowledgeably answer their questions.
Factor in real estate commission, advertising, signage, attorney and closing agent fees, excise tax, and your prorated share of annual expenses like property taxes and HOA fees. An agent can give you a close estimate of typical seller closing costs.
Decide where you'll get the most bang for your buck — local publications, classifieds, or photo-box ads — and don't forget the internet. Most agents place listings on their own site as well as the full MLS search, and some newspapers offer bundled internet advertising with print ads.
Purchase a well-designed, weatherproof "For Sale" sign placed where it can clearly be seen from the street. Prepare a single-sheet fact sheet listing your property's features and benefits to hand out at showings, and set up directional "Open House" signs for showing days.
Once you have an offer, leave your emotions behind and negotiate price, inspection contingencies, financing terms, and closing/possession dates in writing. Get your forms in order — roughly 20 documents are typically required of a seller — and schedule a final walk-through before settlement to confirm the property meets everyone's expectations.
Know Before You Sell
Let me help navigate you through the various stages of selling your home.
