Some people think that it’s easy to sell a house in today’s seller’s market. Put a sign in the front door of your house, list it on a paid MLS service, and there you have it, multiple offers! But selling a house involves a lot more than that. It starts with making sure that the home is in top selling shape: that it’s been repaired, painted, de-cluttered, clean and smells good. But even that is not enough if your house is not marketed properly or priced right. Pricing a house is really a skill. I always look at the comparable sales and think like an appraiser when pricing a house. Ultimately, the market will determine the value of the house, but pricing like an appraiser never disappoints. If your house is priced at what it will appraise at, your chance of having multiple offers is greatly increased. I have seen this experiment many times with home sellers who want to pick a price from the sky, which results in overpricing, it stays on the market longer and sells for less.
Sometimes people ask why one house sells for one price and the same model house sells for a different price. Marketing and positioning are really the secret sauce to getting the highest price for the home.
At times, we have had opportunities for the neighbors to get a sneak preview a day before our open house, better to have the nosey neighbors in first, so they are not trampled by the actual buyers. Everyone loves to attend our Open Houses and get a firsthand look when introducing a new property to the market. We use touchless registration, which makes it safe and easy for our buyers.
If you are fortunate to have multiple offers, reviewing all the offers can be a daunting task. The highest offer is not always the best. Reviewing financials and subtleties of an offer require experience. Negotiating the best offer is a skill acquired through practice.
The next step is the inspection, in some cases, the buyer may waive the inspection, but if they do not, there could be negotiation for repairs or credits. In some cases the buyer may cancel based upon the inspection. If you are required to make repairs, we have reputable vendors we can recommend to make repairs. It’s not always easy to navigate through the inspection period, but it easier when you have an expert by your side.
The step that follows is the appraisal. If your buyer is a cash buyer, this step is usually waived. But most buyers are purchasing homes through financing. If the buyer agrees to waive the appraisal or pay the gap between the appraised value and the purchase price, the process is less stressful. If this isn’t the case, you may need to renegotiate the purchase price, or the buyer could cancel, and the selling process starts all over again.
Once you have completed the appraisal process, it is only a matter of time before you are packing your bags and moving on to your next adventure. It that is the case, we have a team of movers who can get the job done carefully at reasonable prices. You will need to make sure your place is clean, and broom swept before the buyer’s walk through and keep all the utilities on until the walk through is completed. Once the walk through is completed on to the closing table where both parties sign on the dotted lines. Shortly after, buyer’s sign their closing documents, funds are wired to your account and cha-ching, you’re in the money!
So there you have it, step by step what it takes to sell your home in today’s market.