SELLERS

Instead of working directly with a real estate agent, some people prefer to sell their home themselves. This may seem like an appealing idea but you need to be prepared to put in a lot of work! Whether you decide to sell personally or with a realtor by your side it is important to know the process!

Researching the prices of homes similar to yours will help set your price mark. It’s also important to know any property disclosure laws you must follow. If you price your home too high you will miss out on the “new property appeal” in its first 45 days on market. If you price it too low, you could be leaving money on the table. Finding the right fair market price is essential for an optimal top-dollar result!

Sometimes it is easier to write out what needs to be done in the home before going to Home Depot and starting your projects. Planning like this will help you stay on track before the open houses begin. Budgeting is a key part of this as well. Prioritizing what you can and cannot fix will help you manage your time and money efficiently.

Before designing your ad you will need to take pictures of your home. High quality professional pictures are CRITICAL! Seriously, do not cheap out and cut corners on this. These pictures will determine whether someone is interested in buying your home or not. Consider decorating it yourself or professionally staging it to improve potential buyers first impressions. An empty house will not keep the attention of a potential buyer but a nicely decorated one will. Now you are ready to take your pictures! If you choose to take them yourself, make sure to use a newer phone or ideally a DSLR camera.

To accompany these pictures it’s recommended to write a few sentences about your home and its amenities (near school district, square footage, etc.) These little details will make a huge difference to a buyer! For Zillow, make sure to fill out the “What I love about this home” section.

Purchase and install the “for sale” sign! If you are working with a realtor they will provide this. When you go to buy this at Home Depot or a store like Walmart, it’s a good idea to buy 5-10 open house signs as well!

By contacting local lenders you can provide possible options to a prospective buyer. This will not only help you sell the home but will also answer any questions the buyer may have. When possible you always want to add value to buyers!

Keeping a list of the names and numbers of potential buyers will help you eliminate people who aren’t serious about purchasing. Make sure you follow up with these buyers to make sure they have not forgotten about the property. Similarly, when you receive an offer you will want to double back with all of those potential buyers to see if they would like to submit one too! If they do, now you are in a multiple offer situation and can ask all offers for their highest and best. It can be risky, but also very rewarding financially.

As the seller you are required to provide multiple forms and addendums to the buyer, depending on the type of property you are selling. These forms can be found at your local Board of Realtors or the Agent representing you. It’s beneficial to review these forms before handing them over to the buyer so you are aware of not only your rights but the buyer’s rights. Make sure to fill out the seller’s disclosure in its entirety and do not leave anything off it! Lying on that sheet or omitting something you knew about opens you up to serious liability. Consult a trusted real estate professional for more info!

After signing several forms the buyer or buyers need to come to a written agreement with you in regards to price, inspection, financing, closure, and closing date. Real estate is one of the top industries for scammers; make sure you have an experienced professional read over your contract before you sign anything!

Along with the purchase agreement, a final walk-through will take place. The buyer and a witness must confirm that the house being conveyed meets the standards of everyone present. Basically, the purpose is for the buyers to ensure that the condition they initially saw the house in is the same condition at the time of purchase. If you agreed in the contract to convey the appliances, but end up removing them, the buyer will find that out in the final walk-through. Make sure to abide by the terms of the contract! Now that the house has been sold you are able to move out and into a new place!