How To Sell Your House in 3 Basic Steps

Selling your home can be chaotic and stressful, but it doesn't have to be. This article and infographic were designed to help you through the home selling process with ease. When you have a clear understanding of the process, the whole transaction will go much smoother.

FIX EVERYTHING

Most home buyers are looking for a home that doesn't have issues. When your home goes under contract, the buyer will most likely hire a professional inspector to inspect your home for damages and potential repairs.

When planning out your home selling strategy, start by identifying and completing any repairs on known issues with your property. We recommend hiring your own home inspector before listing your house. This is the best way to avoid unexpected surprises once you're in the contract phase of your home selling process.

Buyers tend to feel that they are overpaying for a home when it has repair issues. You'll typically net the most money on your home sale by addressing all of these issues before you find the right buyer.

MAKE IT LOOK NEW AGAIN

Finally, you will want to make your home look new again. The goal is to take all the “wear and tear” out of your home. This usually involves touching up the paint, shampooing carpets, touching up baseboards, adding fresh mulch, trimming bushes, and deep cleaning every room in the house. Often, sellers find that they need to completely paint the interior of the home and put new floors in, as even everyday wear and tear can turn buyers off.

You will also want to take the “you” out of your home. Buyers emotionally attach to homes that they can visualize themselves living in. It's hard for them to do that when they see photos of the current homeowners family throughout the house.

Take all personal pictures and pack them in a box for your next residence. Take any items that are personal to you and pack them as well. Make your home as clean and neutral as possible so that home buyers can imagine their furniture and items in your home. If possible, hire a professional stager to help arrange your home for an amazing presentation to home buyers. Staging is becoming more common every year and some of the homes that you're competing with may be staged.

HIRE A REALTOR

Start by hiring a good REALTOR. Don’t just use a family member or someone in your neighborhood. Do your homework and find someone with a good online presence and strong reviews. Using someone based on anything but this can cost you thousands of dollars.

Here’s a good list of questions to ask before hiring a REALTOR.

• - Do they hire professional photographers to take pictures and video?
• - Do they offer an online 3D Tour? Ask for examples.
• - Do they use a professional Showing Service or are they responsible for coordinating all of your showings?
• - Do they use Secure Electronic Lockboxes or cheap combination lockboxes?
• - How many homes do they sell each year, and how does that average compare for the area?
• - Do they have online reviews and a strong online presence?
• - Do they communicate in ways that you prefer? (email, text, social media, phone call, etc.)
• - How much of their commission are they offering the buyer’s agent?
• - Where are they advertising your listing?
• - What digital marketing services do they offer that others do not?

These are just a few questions to ask. Your entire home selling experience will be greatly affected by the competency of the real estate agent that you hire. I can’t stress enough how important it is that you do your research and hire the right person for the job.

KEEP IT PRESENTABLE

Finally, make sure you keep your home presentable and ready for showings. I’ve shown many homes to home buyers over the years. I am constantly surprised at how many homes are dirty and not ready to be shown when I get there. Home usually look different in person than they do online.

Above all, make sure your home smells good and is clean. This is non-negotiable. In addition, try to set the home up for the showing by opening blinds and curtains in strategic areas to allow the natural light in and highlight the best views. Also, leave some lamps and lights on so that the home buyers don’t see your home in dim light. When a buyer walks in the front door they should be greeted by a light, bright, cheery home.

EXECUTE A SALES CONTRACT

Once your house is listed and you have done all of the right things to get it sold, you will inevitably start receiving offers from buyers. It's important to wait for the right offer. Home selling rookies may be tempted to get excited about the first offer that comes along. It can cause problems if they are only focusing on the offer price.

The down payment amount, loan type, and pre-approval letter are very important parts of the offer as well. Any seasoned REALTOR has had deals fall apart. When buyers do not have much cash in the bank and are barely able to qualify for a loan, it can greatly increase the chances of a deal falling apart. Knowing what to look for in an offer is key to getting your home sold without any crazy surprises. If you have the option to wait for a better contract from a buyer offering a decent down payment and who can pay for their owning closing costs, your chances of closing the deal are much higher.

Take these things into consideration when you are receiving contracts on your home. The Colorado Sales Contract that most Colorado REALTORS use is written to protect the buyer much more than the seller. These contracts can fall apart very easily. A good seasoned REALTOR will notice any red flags in an offer and point them out to you right away. Their experience can save you a lot of time and money when executing a sales contract.

CLOSE THE DEAL!

Finally, once the deal has a "clear-to-close" from the lender, schedule the closing with the title company. If you want to get your funds on the same day, try to schedule the closing in the morning so that the wire transfer has time to make it to your bank. This is very important for people on the west coast as the wire cut off time is 6:00 pm eastern time. Also, Fridays are usually the most hectic at the title companies because most buyers want to close on Friday. If you can schedule Monday through Thursday, your chance of not having any scheduling issues are higher.

Bring your photo ID (driver’s license, passport, etc.) to closing, along with all the keys, garage door openers, appliance documentation (if applicable), repairs receipts, and any other items relevant to the transaction. As the seller, your paperwork will be minimal and you should be finished within minutes. Once the buyers sign their documents, the title company will forward the docs to the lender and if everything was done properly the loan will fund within a couple of hours and you will receive the funds from the closing.

Once you receive your closing funds, you'll feel a great sense of relief. The last step is to CELEBRATE!