STEP 1 - DEFINE NEEDS
It is important to set out in writing the reasons
that are motivating you to sell your current home. You might ask yourself,
"Why am I selling my home and what do I expect to accomplish?"
If you have a growing family and you need more space you may be under
less pressure to get your house ready to sell than if you were, let's
say, moving to a new city due to career opportunity. >
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STEP 2 - PRICING STRATEGY
Your next objective is to consult with your
real estate agent to determine the best possible selling price
of your home. You will need to take into account the state of
the local market, the condition of your home, and sales of
comparable homes in your neighborhood. >
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STEP 3 - PREPARE YOUR PROPERTY
It's time to get your home in "showing and selling"
condition. Most of us don't keep our homes in the condition it would
need to be in to sell. Over the years those boxes in the corner of the
garage just seem to multiply on their own. Things have broken that we
just never get around to fixing and some things have just worn out. >
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STEP 4 - MARKETING STRATEGY
Now that your home is ready, it's time to put
it up for sale and market it. Establishing a marketing strategy
with your real estate agent is a must. Your agent will expose
your home to the most potential buyers possible using a marketing
plan that will have the highest possibility of bringing not only
the most buyers, but also the most qualified buyers, to your
doorstep. >
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STEP 5 - RECEIVE AN OFFER
When a buyer decides to buy your home, an
offer will be presented. Your real estate agent will advise
you as to whether or not the prospective buyer is qualified
to purchase your home. After all, there is no reason to review
an offer if the person(s) making it will not be able to actually
buy your home. >
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STEP 6 - NEGOTIATING TO SELL
Most offers to purchase your home will require
some level of negotiation to come to a win-win agreement.
Your real estate agent is well versed on the legalities of
the real estate contract used in your area and will handle
the responsibility of protecting your best interest throughout
these negotiations. In addition, your agent has a thorough
understanding of the contract itself, including what each
contract clause means to you and your buyer, what you will
net from the sale of your home, and what areas in the contract
lend themselves easiest to negotiation. >
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STEP 7 - SELLING VENDORS
Once you have accepted an offer to sell your
home, your real estate agent will inform you of all the
procedures involved in order to proceed successfully to
closing, as well as the parties responsible for completing
those procedures and estimates of completion. For instance,
the property may need to be formally appraised, surveyed,
inspected or repaired. Depending on the specifics reached
during the negotiations, you may pay for all, some, or none
of these items. >
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STEP 8 - PRE-CLOSE PREPARATION
A few days before the closing, your real
estate agent will contact the entity closing the transaction.
He or she will make sure that all of the necessary forms and
documents have been prepared and are going to be available for
you to sign on the appropriate date. Your agent will also
contact each party to the transaction to be certain that
they have taken all actions necessary for closing, so the
entire closing can proceed on the date and time planned. >
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STEP 9 - CLOSING ON A HOME
"Closing" refers to the meeting where ownership
of the property is legally transferred to the buyer. Your real
estate agent will be present during the closing to help explain
the process and forms to you and make sure everything goes as
planned. By being present during the closing, he or she can
mediate any last minute issues that may arise. >
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STEP 10 - POST-CLOSE ACTIVITY
Congratulations on the successful sale
of your home! Hopefully, everything went smoothly and you
will be vacating your house in the time frame that you had
anticipated. Your real estate agent will help you create a
checklist of all the things you will need to do to turn the
property over to the new owners. >
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