For many would-be home buyers, the hunt for their next home is the most anticipated portion of the home buying process.Picture this: it's a sunny Saturday afternoon, and you're on a home tour with
On The Way To Sold
Often would-be home sellers are overwhelmed by the thought of listing their house.
They understand that there's a lot of upfront preparation required to get their house ready to list, that there will be a period when potential buyers will request showings (and hopefully write offers!) for their home, and then the period that they pack up their belongings and wait for closing day.
Because it isn't every day that a homeowner will sell their house, there can be a fear factor in initiating the process. The initiation is delayed, that is, until it comes to the time that the thought of a move becomes more desirable than continuing to stay in the house.
It's said that "knowledge is power," and selling a house is no different: much of a home seller's fear can be alleviated by having a better understanding of the home selling process from beginning to end.
Meet with a real estate professional. This is usually a big leap for homeowners in the home selling process - giving the real estate agent a call and having them come and check out the house. It's important to remember, though, that there's no commitment on your part for the initial meeting. The meeting is typically educational and helps to identify your next steps.
Establish a price. An agent will provide to you a comparative market analysis to help to identify an asking price. It's important to review the market analysis objectively, and price your house strategically for the current market.
Prepare your home. View your home through the eyes of someone who has never visited it before - through the eyes of the buyer - and ask yourself what you would expect if you were buying it.
List it for sale. Once everything is in place, your real estate agent will place your house on the open market. This is the period when potential buyers will be coming and visiting your home. It's important to make it as easy as possible for would-be buyers to view your home, because you never want to miss a potential sale.
Offers and negotiation. A buyer (and most often the agent who represents them) will present your agent with an offer. Your agent will present the benefits and risks of each offer, and you will have the opportunity to accept the offer or counter the offer, based on its merits.
Under contract. When you and the buyer have agreed to the price and terms of the contract, and have signed the agreements, then you are "under contract."
Final details. While under contract, the buyer will be working with their lender to finalize the loan details and perform other due diligence. Inspections of the home are usually done at this time, and sometimes - based on the outcome of the inspection - they may ask you to make certain repairs. Your agent will explain all your options regarding the inspection.
Closing. This is the transfer of funds and ownership. Depending on what you have negotiated, you will need to have your things packed and be ready to move.