Everything Guide on Selling Your First Home

buy and hold real estate

Finding your first home is great, selling your home now could be a little different. It could be hard letting your first property go, though it may be for the best. Receiving the best possible price is usually the first important step when it comes to selling a home. This could take some time; however, by following these tips and strategies in this guide, it could help speed up the process by knowing the ins and outs of real estate and working with the best.

What is the Goal?

First, know the goal. What is the goal for the move and the reasoning for selling your home. For example, why are you moving? How much time do you have? How much is the value of my home? By knowing the answers, it will help paint a clearer picture on the process to sell your home easier with a smooth transaction. Let’s take a look at the next step – Research.

Research Your Community

Check out the latest sold listings around your home, this will give you an idea on what the most popular type of property that is selling. For instance, if majority of the homes sold are 2 bedrooms, and your home is a 3 bedroom, maybe it will take a bit longer to sell. As long as your property is priced right, it will sell. Inventory and interest rates change, by keeping up with market fluctuations, you may be more in tune with the ebbs and flow of real estate transactions in your area to fully understand the market that will help you net the most amount of money within the shortest amount of time.

Interview Agents in Your Area

Fill free to make the realtor work for free in the beginning. Most will be willing to come check out the property and provide samples of work to show you what’s possible. Pick the right agent for the job of selling your home. If they do not seem to be educated about the area or neighborhood or the type of property they might be selling, it might be best to at least interview another agent. This could be a big decision and could be a very important step in having a smooth transaction experience.

Now, let’s view the next step in the home selling process.

Listing & Showcasing the Property

showcase and list your home image.

One of the most important things that will sell your home is going to be listing your home. It may seem obvious, but in today’s market to net the most amount of money, it is best to do more than putting a for sale sign in the yard. As that may attract a buyer, it may take longer and will likely not net the highest amount of money.

So, to get your property in front of everyone who is in the market of buying or investing in a home, its best to list the property everywhere legally possible. It takes money to advertise, so be prepared for some upfront costs, though you will likely see a return on investment if it brings a buyer. Of course, a professional real estate agent does all this for you to help the ease of selling your home.
A good tip before listing your property is to make it clean and picture worthy.

Pictures will be up on many websites and having great pictures will help make your property stand out from all the others. First impressions are always most important and by having a great first picture could help attract more potential buyers to your listing.

Negotiate Offers and Contingencies.

When selling your home, most likely you will have the final say in the contract offer and will be up to you to decide on to reject or accept buyer offers. This makes it possible to negotiate basically everything in real estate. Doesn’t mean the buyer will accept counter offers, though in some cases it might be best to simply reject the buyers offer and submit a new offer with your new conditions or simply accept. And when it comes to accepting an offer, be sure that everything looks good and agreed on.

Any offer with a contingency is possibly not favorable for the seller, therefore in most cases the buyer will take that into consideration with and represent it in the offer with a higher price or maybe certain furniture that is included does not have to be to help offset the contingency.

Home Inspections and Appraisals

Home inspections and appraisals cost money and is most of the time paid by the buyer. Sellers don’t really need to be involved and no news is good news really. Some circumstances makes it possible that the seller pays for the inspections and appraisals.

However, majority of the time the buyer will pay this as it makes sense as you get to choose when, where, how, and who. If the seller pays, they might want to do it themselves. Especially when it comes to appraisals. Which is always best to choose a reputable appraisal to come out. Some are better than others with convenience, though they are all good if licensed and insured.

Choose one from the local area as they will be more likely to have the best accurate estimate home value.

Closing the Deal

Now that an offer has been accepted by you, disclosures signed, money in escrow, it is time to close the deal. Prepare a final walk through at least the day of or before closing. Things may have changed since last the buyers took a look at it, or maybe even broken.

To help ensure everything was left intact and items left as agreed on, always prepare for a final walk through with the buyer. You do not have to be there the but just know it is common to do one more final walk through before closing. If everything looks good, you are clear to close.

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2020-01-31T01:20:45+00:00

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