Home selling is the biggest financial and emotional decision in life. Here is the step by step process and notes that will help you to prepare for selling your biggest asset.
Hire an agent
While selling a home yourself is an option, it will involve a lot of work and time. Also, you may face complicated situations where you will need professional help. Eva handles all aspects of the sale, from pricing, marketing, and showings to the intricate steps involved in closing the deal.
Walkthrough of your property
Many factors go into determining a homes market value and that includes the condition of the property. The first and most important step is to look at your property from the perspective of both the prospective buyer and the inspector. We will take notes on all items that need to be repaired or replaced. The items can be a new outdoor or interior paint, sprucing the lawn and landscaping, checking the condition of the windows and doors, the roof, appliances, plumbing, electrical, and floor coverings.
Improving property value
The property value can be increased by sprucing up your place. There are many ways to make your home more appealing to buyers. Home renovation such as adding a bedroom, upgrading kitchen or bathrooms can yield substantial price increases. But not every improvement has to cost a lot. There are simple things you can do such as eliminating clutter, changing the wall color, refinishing cabinets, modernizing light fixtures.
Staging
Research shows that well-staged homes can sell approximately 32% faster than those that are non-staged, plus often command higher sale prices of up to 10% more. Homes that are properly staged make a great first impression and it’s all about selling a lifestyle. When buyers walk in the staged homes they can imagine themselves entertaining, cooking dinner, or relaxing in the space. In addition to bringing furniture, staging can involve putting a new color on the wall or bringing in new décor.
Contract
Residential Listing Agreement (Exclusive Authorization and Right to Sell), this is the contract between the seller and the broker, gives the broker and a specific agent the exclusive right to sell your property for a designated period of time. Terms vary by agreement, but generally include things like duties of the realtor, the amount of commission, length of the exclusive, asking price, and other selling terms.
Pricing
Many factors go into determining home’s market value, including the location, condition of the house, recent comparable sales. Eva will evaluate your home, prepare a comparative market analysis to arrive at an accurate selling price based on the current market, and work with you to decide what is the best strategy and timing for putting your home up for sale. Proper pricing is especially important in the early stages of marketing. Statistics show that if properly priced, an offer should be presented quickly.
Marketing
Eva will create a plan on how to best reach prospective buyers specifically designed for your property and market it aggressively to reach a wide local, domestic, and international buyer audience.
Open House
During the first 2-3 weeks, new listing gets the most traffic and its vital to showcase your property to the public with impression. Put away your valuables, organize small items in drawers and closets to minimize the clutter! Making each room depersonalized by removing family photos and putting neutral color bedding also helps. A scented candle is always a good idea. We will answer all the questions, you can go out and enjoy yourself.
Negotiation
Once we have an offer, its time to negotiate! We will negotiate the following terms on behalf of you: price, inspection contingencies, financing terms, date of closing, and date of possession.
Closing Costs
Selling your home will incur closing costs. Generally, closing costs include the real estate commission you have agreed to pay your broker, escrow fees, title insurance, CA taxes, your mortgage principal, and other fees. Fees are payable from seller proceeds through escrow.
Final Walk-Through
When both the buyer and a witness can be present, we will schedule a final walk-through before you complete settlement in order to determine that the property being conveyed meets the expectations of all parties involved.
Arrangements for your new home
Unless you have already built or bought a new residence, you’ll need to be the “buyer†for a new property while simultaneously being the seller for your current one. If possible, schedule both transactions to close at the same time, or else close your purchase shortly before closing your sale. You need to be moved out before the new owners take possession, however in case you do not have a new place to stay at the time of closing you can work out a deal to lease the property back from the new owner for a certain period of time. Or if possible try to pick a date for the closing that will give you enough time to find a new residence.