Key Steps Involved In Selling Your Home Successfully

Boost your chances of selling your home successfully with these crucial steps

According to the Zillow Group Consumer Housing Trends Report, the average seller lives in their home for 13 years before considering a sale, spending approximately seven months contemplating before making a move. If you find yourself in this situation, read on to learn the key steps for selling your home successfully.

1. Find the Right Time to Sell

• Understanding your local real estate market is key to determining the right time to sell your home. By evaluating whether it’s a buyer’s or seller’s market, you can identify when conditions are favorable for selling. In a seller’s market, demand exceeds supply, giving sellers more leverage in negotiations and increasing prices.

2. Hire a Real Estate Agent

• Ensure that the agent you select is suitable for your property but also compatible with your communication style, temperament, and availability. Ask for referrals from friends or neighbors. Interview multiple agents and assess their knowledge of the local area, responsiveness, and marketing strategies.

3. Address Necessary Repairs and Updates

• Prioritize repairs and updates to enhance your home’s appeal. Address maintenance issues, fix visible problems, and consider minor updates that can add value.

Next, set a competitive and realistic asking price for your home. Collaborate with your real estate agent to assess the local market, comparable property prices, and the unique features of your home.

4. Stage Your Home for Sale

• Staging your home can create an inviting environment and give you an opportunity to highlight its best features. Declutter your space and consider neutral decor to appeal to a broad range of potential buyers.

Determine the staging plan that best suits your budget, timeline, and local market conditions. Options range from DIY staging to hiring professionals for bigger projects.

5. Market Your Property

• Real estate agents commonly publish property information and images on the local multiple listing service (MLS), accessible to industry professionals. Your agent may create individual listings or retrieve them directly from the MLS.

Additionally, high-quality professional photographs showcasing your home’s best features can help you draw in buyers. Therefore, consider hiring a professional photographer to capture your home in its optimal presentation.

6. Keep Your Home Tour-Ready

• Once your home is listed, ensure that it is tidy and presentable. Clear the floors of clutter, make beds, vacuum regularly, and keep the kitchen sink free of dishes. Be prepared to leave the home with minimal notice, as potential buyers may request tours at short notice.

7. Accept the Buyer’s Offer

• Receiving multiple offers on your property can be exciting, but before making a decision, carefully evaluate each offer and consider various factors beyond just the offered price.

If the offer doesn’t meet your expectations, you have the option to decline it or negotiate for a higher price. Once you’re satisfied with an offer, it’s time to accept it formally.

8. Complete the Contract Exchange

• Once you exchange contracts with the buyer, both parties are legally bound: you to sell the property and them to purchase it.

Backing out without valid reasons may result in the buyer receiving their deposit back and you potentially facing legal action.

9. Fulfill The Closing Obligations as a Seller

• As the selling process ends, you’ll need to handle certain legal documents and procedures.
• If you agree to post-inspection repairs, ensure they’re done before closing.
• Sign all legal documents related to the sale.
• Provide the keys to the buyer upon vacating the property, as outlined in your contract.
• During closing, the settlement agent will record the new deed, settle the remaining mortgage balance, cover closing costs, and ensure you receive your proceeds from the sale.

Looking for a trustworthy realtor in Morris County? Contact Jackie Scura. We are an experienced team of real estate professionals who provide expert guidance and support throughout the home-selling process. Call us at (973) 604-8868 for more information.