1. Find a qualified selling agent to list your home for sale
Can you sell a home on your own? You absolutely can. If you’re a marketing whiz, familiar with the legal process of selling property, and have the time to meet with and answer questions from any interested buyer and/or their agents, you can successfully sell your home. And though you’ll save yourself from having the agent’s commission coming off the top of your sale price, you’ll find that the statistics will show that sellers who use an agent come out financially ahead.
According to Bankrate, a house sold by an agent will make well into double digits more than a home sold by its owner. Securing the skills of a real estate professional is one of the best tips for seniors selling their homes. You will not only make more money above and beyond the agent’s commission rate but will not have the hassle and stress of listing, advertising, and dealing with the mounds of paperwork that goes into selling a house.
2. Preparing your home will take the most time
Some experts suggest bringing in a home inspector to evaluate your home. Though the buyer will bring in their own before closing on the property, getting one completed first will give you some advantages.
When the inspection is completed, the inspector will present a list of items that should be addressed. These can range from minor items like cracked switch plate covers and peeling paint to larger ones like roof leaks. After these items are identified, you can choose to have a contractor (if necessary) remedy all of them.
You will also want to address any cosmetic issues you notice in and outside of your home. Make a list of what should be done to make the home look its best, and discuss it with your agent.
Next, you will want to have the home deep cleaned. It’s suggested to hire a professional cleaning company for this task. They have the experience and the skills to complete it more thoroughly and quickly than most people. Once it is cleaned, it will be up to you to keep it that way!
Your home is now well-maintained and looks like new. When interested parties tour the property, they’ll notice how little they’ll need to address if they buy the property. This can sometimes result in a higher list price for the home, putting even more money into your pocket at closing.
3. Let your agent work to negotiate with interested parties
Once an offer is made, your agent will present it to you and review the terms. Some offers will be for the asking price and not have any conditions. Others will be from buyers that want to negotiate some, requesting a lower price and stipulations for the purchase.
It will be up to you in the end whether or not you accept any offer. But it’s important to listen to your agent, especially if you are in a position where the buyer wants to negotiate. You can reject an offer outright or choose to counteroffer. No matter what you decide, your agent will present any information to the buyer via the buying agent.
4. When the closing date finally arrives
Your agent will work with the buyer’s agent to set a closing date. You’ll meet at a closing attorney’s office where you’ll sign a lot of paperwork. You’ll get the proceeds from the sale of your home at the end, and you’ll hand over the keys to the new owner. Congratulations! You’re at the end!