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The Steps of the Home Selling Process

 

Step One: Enlist the Help of a National Association of Realtors agent or specialist. Most agents and specialists are members of NAR, which means they are required to complete an approved training program and pass an ethics test prior to becoming full-fledged members of the organization. A national association of realtors (also known as an REO) has a much stronger presence in the marketplace than an individual realtor or listing service. They also have access to resources and knowledge that home sellers often don't, and can help jump start your home selling process. When a national association of realtors handles your home selling, you can be confident that your home will be sold with speed and efficiency.

Step Two: Make Repairs and Maintenance additions to your home prior to home selling. Even if you plan on selling your home "as is," you need to make repairs and maintenance upgrades that are acceptable to you and your buyers. Your buyers want to know that you took the time to make repairs, and that you put effort into cleaning, upgrading appliances and other items in your home. Answering these questions will leave positive memories and an excellent first impression on them when they go to view your home for sale.

Step Three: Have your title history and land documents appraised prior to home selling. A good real estate agent or broker will do this for you at no additional cost to you. In addition, this will aid in preparing your documents and paperwork for home selling with your local county. It is always good to have your title history and land documents as part of your home selling package so that your buyers can see what they're purchasing entails.

Step Four: Get bids from at least three local real estate agents. You can get free market analysis guides from the National Association of Realtors or the National Association of Home Builders to help you with your home selling package. These guides will allow you to see the areas of your community in which you would like to live. This will give you a good starting point in determining the type of repairs and maintenance you will undertake. You may also receive a quote from an estate agent that covers the repairs, maintenance, and marketing of your property.

Step Five: Obtain an estimate of your house closing costs from your realtor. Your closing process is extremely important and should be considered an integral part of your overall home selling strategy. The estimate will tell you how much your home will be worth at closing and will also include all the buyer's and seller's closing costs. If the seller's closing costs are less than the buyer's, the seller should accept the offer. On the other hand, if the buyer is paying more than the seller, you need to make some concessions to get your price back down to the same level as the seller. You may want to consider offering a slightly higher down payment, reducing interest rates on the mortgage, adding a second mortgage to cover the buyer's closing costs, or getting a shorter mortgage term.

Step Six: Receive multiple offers from interested buyers. This will allow you to compare them against one another. As a realtor, you know that buyers' plans can change, so it is critical to have multiple offers on hand. This also allows you to see if any of the offers are financially feasible. Asking for a trial buyer's inspection will allow you to view the home firsthand before making a decision. However, remember that this inspection will not include any of the work already done on the house, so you must decide if you want to purchase the home as-is, or go back in and make repairs.

Step Seven: Close on the sale. Once you've received offers from interested buyers and found a buyer who is a good fit, the final step of the home selling process is to close the deal. In order for a real estate home seller to have success with their home selling process, they must have a buyer who is serious about purchasing their home. A good listing agent will be able to guide sellers through the closing process so that sellers don't find themselves scrambling after the sale to find buyers.

Also, I recommend you to check out www.onpointhomebuyers.com.

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