Your Daily Real
Estate Blog
From
Supreme Manor
Real Estate Services
How to Sell
Your Home in 8 Steps
Real
estate agents may try to make you think selling an FSBO house is too hard, but
if you're willing to put in a bit of time and effort, you can make the sale and
save thousands in commissions. Here are the steps involved:
1. Do Your Research
Knowing
the market is one of the keys to success. Learn sale prices of similar homes
nearby and look at listings to determine which details you should include in
yours. Your local newspaper is a good source of information, as are home sale
prices listed online.
2. Price It Right
The
price you set should be comparable to similar homes in your vicinity. If you
set it too high, you may put off some buyers. If it's too low, buyers may think
something is wrong with your house. If you're confused about pricing, hiring a
professional appraiser can be money well spent. You don't want to go more than
10% over what a competent appraiser values the house at, even in a strong
market. The right price is the key to a faster sale.
3. Get Your House Ready to Show
Keeping
your house neat helps when a prospective buyer wants a tour right away. Before
listing your house, consider doing cosmetic updates, such as a fresh coat of
paint to rooms that look drab, and get rid of clutter to make rooms look more
spacious. Keep the yard mowed and get rid of weeds.
4. List Your House
After
you establish your price, list your property with a qualified realtor. Remember 85% of buyers start their searches
online, the internet and social media sites like Facebook are great for putting
your listing in front of as many eyeballs as possible. Make sure your
realtor utilize these media.
5. It's Showtime!
Be
flexible with allowing showings of your property. Sometimes you may have to do
a showing on very short notice, so keeping the house tidy is a good investment
of your time. Try to be scarce during homebuyers visit of your home. Buyers feel restricted and intimidated when
sellers are hovering around..
6. Field Offers and Negotiate a Price
You
don't necessarily have to pounce on the first offer. When you set your asking
price, be sure to remain flexible and consider all offers submitted.
Counteroffers are generally expected. It's a good idea to only consider
written, signed offers and to respond with a written counteroffer, acceptance,
or rejection so that everything is documented. While negotiating on a handshake
seems "nice," selling your house is too big a deal not to document
everything in writing.
7. Sign a Purchase and Sale Agreement
with a Buyer
You
feel like all your hard work has paid off when someone makes an offer. Once you
and a buyer agree on a sale price and any conditions of the agreement, you will
both sign a sales contract. You should have an attorney look it over before you
sign anything.
8. The Big Day: Closing
The
buyer has arranged financing, you've fulfilled all your obligations in the
sales contract, and closing has been scheduled. At closing, you will receive a
check for the net price of the home after outstanding debts and fees. The buyer
will receive the deed to the property along with keys, garage door openers,
etc. Find out in advance if you will have to pay any legal fees or a commission
to a buyer's agent on the date of the closing.
I hope this information is useful.
Should you need assistance with any of your real estate needs,
please contact Supreme Manor Real Estate Services 773-881-9224. Feel free to visit us on our website or any
of our social media sites.
Have a Supreme Day!
Sheila M. Wilkinson-Sanders
Managing Broker/Owner - CPA, GRI, CNC
Supreme Manor Real Estate Services
1840 West 95th Street
Chicago, IL 60643
(773) 785-0127 Direct
(773) 797-9640 (fax)
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