Selling a house is always a big deal for the family. Partly because you have a lot of memories attached to it and partly because of the overwhelming procedure you have to go through. Especially for first time sellers, there are certain rules you should know before moving forward.
From the day you decide to sell your house to finalizing the deal, the process is going to be rigorous. Luckily, the good part is that the process can be made easier by smart practice. With an organized plan, you can work out the optimum final results. Here is a complete guide on how to sell a house.
Choosing the right agent: An apt real estate agent should seek your best interest. Not only should he find the best buyer but he should also update you about the selling process. The agent should acknowledge your home’s pros as well as cons. He/she should be tactful enough to find the buyers corresponding to your house’s selling points.
Prepare the house for sale: Start by making a list of all the potential areas or furniture which needs to be repaired or replaced. You can appoint homemakers or take your agent’s assistance for making the house presentable. You also need to decide which furniture you want to take along and leave behind. It is always suggested to do the necessary repairs than leaving them for the end time. The first impression is the last impression, so make it count.
Put a price to your home: One of the crucial stages is to put a reasonable price tag to your house. Getting emotional while deciding the price often leads to the overpricing of the house. Therefore, it is necessary to consult the real estate agent regarding the price. Do not forget to add the cost of the repairs that you have put in while renovating the house for sale, the agent’s commissions, etc.
You can also search for properties of comparable plot sizes in your area that are registered online for sale. At the same time, it is necessary to consider the prevailing market traits before putting a final price tag.
Advertise your house: By this time, you havealready analyzed the selling points of your house. It’s time to flaunt them with the best possible advertising campaign to attract potential buyers. Search online and take guidance from the real estate agent to make your personalized marketing campaign. Hire a professional photographer to take quality pictures and make a virtual tour. Ask him to highlight the main features of the house. Search for the main keywords used by the public for finding a property. Try to incorporate those in your advertisement.
Show the house: It would be more convenient for you to provide a spare key to the agent. It will allow them to make a visit as per the buyer’s wish. If you opt for an appointment, try to be flexible enough with the timings. Also, regardless of the buyer’s decision, take it feedback from them regarding the price and condition of the house. You can adjust your bid accordingly.
Note: Due to the COVID-19 pandemic, it is not advised to pursue an offline home tour. The buyers can set up an inquiry to ask for a virtual tour.
Review the purchase offers: If your house is priced reasonably, you may come across a lot of purchase inquiries. Review all the inquiries, even if some of them are too low. Filter out the best buyers and negotiate with a counter offer. Always use facts and data to support your house’s price while negotiating. It will promote the potential buyer to consider your home.
Get a home appraisal: Always do your research before getting a home appraisal done. Make a list of all the renovations done to the house.
In the case you get a home appraisal below your expectations, ask your agent for the possible alternatives. The agent may give some insights about the benefits of your house to retain the contract.
Home Inspection: Get a home inspection checklist from your agent and verify if your home complies with all the requirements. You should know in advance what the inspector wants to see. If the contract mentions inspection of any area of the house, hire a reputed company to examine and do the needful.
You are also obligated to get the repairs done as a part of post-inspection negotiations and obtain the additional inspection certifications asked by the buyer. This will also prepare the house for the buyer inspection which takes place a few days before closing.
Provide property disclosure documents: As a seller, you are required to reveal the defects or material discrepancies (if any) which may affect the house safety. These should be acknowledged in writing prior to the closing.
Document approval: Once you are through with all the formalities, you will be required to sign all the legal documents approving the sale of your house.
Closing the transaction: These procedures are followed by the last step of closing the transaction. The due mortgage balance is paid along with the agent’s commission. Settle all the closing costs and make sure to obtain your profit from the deal.
The process of selling a house is certainly lengthy. You may have to wait for the right buyer for a long time. But once you will be done with all the procedures and formalities, it will all be worth it. Stay in there long and wait for the right deal to come at you.
For more help contact Top Realtor in Victoria BC - Shirin Purewal :