Important Steps in the Home Selling Process

Get the best possible price for your home within a reasonable time frame and do so without losing your mind.

The first step is to choose a listing agent. A listing agent will represent you and look out for your best interests. Interview agents and try to hire experience and track record and find out how much your home is worth. A seller’s biggest mistake is to overprice their home. 

Next, prepare your home for sale by cleaning, decluttering and improving curb appeal. You may even want to hire a professional stager to stage your home. Complete any repairs before selling, protect your privacy while your home is on the market, and if you’ve got pets, make alternate plans for them.

When preparing to market your home, you or your agent should identify the sizzling selling points and choose advertising words that sell. You should consider hiring a virtual tour company to take quality photographs and put a virtual tour online, then you or your agent should saturate the internet with photographs and descriptions of your home.

Begin showing your home and prepare to negotiate the offers that come in. Make certain that buyers use the right form for writing a purchase offer. Best practices are that even if you receive a lowball offer, you should respond and negotiate by issuing a counter offer. Do not ignore offers. Consider making a counter offer contingent on buying a home, if market conditions warrant and don’t be afraid to make a full-price counter offer.

Your agent or transaction coordinator will open escrow and order a title policy. Write down the contact information for the closing agent. Select a date to close based on when the buyer’s loan will fund and ask for a receipt for the buyer’s earnest money deposit.

Schedule an appointment with the appraiser. Clean the house the day before the appraiser arrives. If you receive a low appraisal, ask your agent about alternatives.

Get ready for and cooperate with the home inspector. Ask your agent to provide you with a home inspection checklist so you will know which items an inspector will want to see. Prepare the attic and basement for inspection, too. Move stuff away from the walls in the garage. Also, prepare for the final walk-through inspection which takes place a few days before, or the morning of, closing.

Ordinarily, sellers do not need to accept a buyer’s request for repair; however, buyers can also cancel the contract. You are entitled to a copy of the home inspection report if the buyers request repairs. If you do not choose to make repairs, a buyer might instead accept a closing cost credit.

When closing escrow, your property deed, reconveyance and deed of trust will record in the public records. The title company will notify you and your agent when it records the deeds. Depending on buyer’s possession rights specified in the contract, you may be required to move on the day the home closes or prior.