Are you interested in getting a little more details about the home selling process? It can seem a little overwhelming and lengthy, but when you break it down into small steps, you can better understand it and see the value that I add to the process.
1. Hire a local experienced REALTOR®
It all starts here; choosing a local experienced Realtor® who understands your goals and can walk you through the process can help you sell your home faster and for more money. If you are interviewing more than one real estate agent, then here is a list of questions you can ask during the interview. This is a great time to look at a realtor’s online reputation. I encourage you to read through some of my past client testimonials.
2. Evaluate your home’s condition
When you partner with me, it’s important that I evaluate the inside and outside of your home to see if there’s anything we can improve to help your home sell. My process includes a detailed evaluation of each room in the house and the exterior of the house to to see what, if anything, might need to be addressed.
Here’s are some examples of the things that might increase your home’s value: planting seasonally appropriate plants and adding mulch where needed to boast curb appeal, cleaning carpets and replacing worn out flooring, addressing any countertops or cabinets might need replacing, having your HVAC system cleaned and serviced, painting any dark colored rooms or hallways on the inside, power washing any decks or walkways. These are just some of the items that we will review and discuss during our in-home consultation.
3. Pick the right price
We want to set a price for your home that will attract qualified buyers looking in your neighborhood. It’s important to understand that real estate agents don’t just pick prices for homes; instead data from similar homes like yours is what drives home prices. As a result I employ the “5 x 3” pricing method: 5 active, 5 pending, and 5 sold listings which allows me to give you the most accurate listing price possible.
Unless there are extenuating circumstances, I do not recommend overpricing or underpricing a home. By underpricing a home, we indicate that the sellers might be in a distress situation. This often attracts low-ball investor offers. Overpricing a home has the exact opposite effect. When the price is too high, we have little, if any, showings and offers that come in, while at market value, are going to be less than the current listed price.
4. Prep your home for Market
Taking my recommendations during our earlier meeting, start to prepare your home for being put on the market by making any suggested changes or improvements. Declutter your home to highlight its features and make it appealing to buyers.
Before the professional photographer comes in we will do one final walk-through of the house and stage with your furniture, so buyers can walk freely through each room. This can be done using the furniture you already have. By pushing couches to the walls it not only opens up the flow through the house it makes each room feel larger.
Once complete, a professional photographer will come beautifully capture your home with any video and 3D modeling possible.
5. Market your home on MLS
What an exciting day for you! All your hard work has paid off and it’s time for buyers to see that too. When we place your home on the market, it important for your Realtor® to understand where potential buyers are coming from, what will attract them to your home, and how to make your home stand out from others.
Using my knowledge of local real estate, social media advertising, full color in-home print materials, and local real estate agent networks, I can insure your home is comprehensively marketed with quality and consistency.
6. Allow buyers to view your home
We’ve got a system in place to alert both the sellers and myself when there are buyers interested in viewing your home. Using an app, its easy for you to approve or reject showings and to know when showings will begin and end. I will also connect with the agent before the showing to highlight the features of your home and after the showing to get feedback.
While on the market it’s important to know what to expect and to keep your home show ready on the inside and out. This will ensure that buyers will get to experience your home at its best.
7. Receive offers on the home
Because of all our hard work, strong marketing and pricing plan, we will receive offers. The buyers will work with their buyer’s agent to put together a written offer which outlines the offer price, when they would like to take possession of the home, when any of the inspections might take place, as well as what type of financing they will be getting.
It’s important that to make sure that the buyers are indeed qualified and have the ability to make it to the closing. Every offer should include a lender letter which includes how much the buyer is qualified to spend, what type of loan they will be getting, and contact information for their lender representative. This is our opportunity to call and ask them questions.
When buyer and seller have agreed on all terms and signed all documents, we now have a ratified contract and move on to the due diligence part of the process.
8. Work through inspections
It’s quite common in Virginia for buyers to complete a home inspection, pest inspection, and possibly a well and septic inspection. Home inspections last between 2 and 4 hours. Typically home inspectors will examine the major mechanical aspects of the home including the roof, plumbing, electrical, foundation, appliances, and any other unique items about your house like a pool.
9. Enter escrow period
Once the home inspection and appraisal has been completed, we now enter the escrow period. The lender will now finalize the loan for the buyer and gather any additional last minute information from them. Our title company will prepare our closing documents and set a time for closing.
10. Close on the sale of your home
Congratulations, you’ve made it to closing day!
We will work with the title company to set up a day and time to review and sign all items in your closing package. Your title agent will present the documents and explain what each one means. I will be at the closing to make sure any changes in the contract have been addressed in the title work.