Step by Step Guide to Selling Your First Home
Selling a house for the first time can be an emotional experience. Even though it’s been an investment, it’s also been your home and it might be a tough thing to let go. Regardless, you know you’re ready to move upwards and onwards.
Here are five steps to becoming a home-selling master of the universe:
Time Your Sale Right
First off when selling your first home, you’ll need to figure out your priorities for the property. Do you need to sell quickly because you have a job offer elsewhere? Are you willing to wait for the right price? All of these factors will go into what kind of realtor you want, what you’re asking price will be, and how willing you are to negotiate with buyers.
Once you figure out the timing that’s best for you and your home sale, you’ll be able to find the best real estate agent.
Get a Good Real Estate Agent
Like anyone else, realtors can be good or bad at what they do. You want someone that is trustworthy, knowledgeable about your housing market, and ready to hustle to get the best offer for your home.
Word of mouth is everything in the real estate industry. When you’re looking for a good realtor as you are selling your first home, your family and friends are a great place to start your search. Get the three best referrals to come out, do a marketing evaluation, and then deliver an action plan for how they are going to get you top dollar on your property.
Price Your Home Right
Pricing your first home can be a little tricky because people get caught up in their emotions when setting a price for their house. It’s important to objectively assess how much you can realistically ask when selling your first home.
Your realtor can help you set the asking price after s/he appraises the pros and cons of your property and evaluates the housing market in your area. If you need a better picture, ask your realtor to walk you through some “rival” properties so you know what you’re up against.
Get Your Home Ready for Sale
First impressions are everything when you’re selling your first home. Patch up holes, update light fixtures, and give rooms a new coat of paint to brighten everything. Consider hiring a home stager to help you show your property in the best possible light.
You’ll also want to chat with your home insurance company about selling your home. Update them if you’ll be hosting an open house or if your humble abode will be sitting empty for several days.
Fielding Offers and Closing the Deal
Getting offers is exciting, but be prepared for some stress. Your realtor is obligated to walk you through every offer you receive so you may have to make several decisions before closing the deal. You’ll have three options with each offer: accept, reject, or “counter” with your own offer.
After you’ve found your buyer and you’re ready to sign the papers, make sure you contact your lawyer, your lender, and your realtor to start navigating the murky waters of finalizing the sale.
Congratulations on selling your first home! Now enjoy your next property worry free.