About half of homes for sale are selling above the asking price. Inventory is at record lows and interest rates are favorable for homebuyers
This is a great time for selling a home. However, it’s not guaranteed that you’ll get offers above the asking price.
You want to make sure that you understand the home selling process to get the most value out of your home.
Keep reading to learn how to sell a house and other home selling tips.
1. Get Your Home Ready to Sell
If you want to get the most amount of money, you have to present your home in a way that shows it’s worth it.
You want to start from the exterior of the home and then work on the interior. Clean up the landscaping and make your home vibrant and inviting from the outside.
Staging the home helps buyers see themselves living there. Clear the home of clutter and personal photos.
2. Have a Sales Strategy
A sales strategy is critical to getting the most value for your home. You can sell the home yourself. Another option is to sell the home as-is for cash.
You can hire an agent to sell the home for you. There are agents that agree to market and sell your home. If the home doesn’t sell, they’ll buy it for cash.
This is an interesting guarantee and ensures that your home will sell one way or another. Lee Garland is an example of an agency that uses this offer.
3. Weigh Home Offers
Most sellers think that they just need to accept the biggest offer and that’s it. There is a lot more to consider than that.
A cash offer is likely to be a little lower than a financed one, but it will close much faster.
Buyers also add a number of contingencies to the offer. For instance, there’s a contingency if the home loan doesn’t go through.
4. Negotiate Offers
You or your agent have every right to negotiate to get the best deal for your home. You can negotiate the amount of money or the contingencies.
There are likely to be more negotiations after the home inspection. If the inspection reveals issues, the buyer could ask you to repair them or to accept less money.
5. Sign the Closing Documents
You’ll have to sign a number of documents to close the deal. The property deed and trust are signed over to the buyer. They also go into the public record.
You’ll hand over the keys and move out of your home. You may need to move out prior to closing. It depends on the terms of your contract.
The Home Selling Process Step-By-Step
We’re in the middle of an unusual real estate market. Demand is very high, but you have to do your part to sell your home.
The home selling process has a lot of steps. The more you learn about it, the easier it is to command a high price for your home.
Head over to the Money section of this site for helpful financial tips.
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