define your needs
It is important to set out in writing the reasons that are motivating you to sell your current home. If you have a growing family and you need more space, you may be under less pressure to get your house ready to sell than if you were moving to a new city due to career opportunity.
By determining your needs, your real estate agent will be able to apply his or her expert knowledge to your situation and set a realistic time frame for the process to proceed. This will help you to establish a time management path for selling your home.
pricing strategy
Your next objective is to consult with your real estate agent to determine the best possible selling price of your home. Take into account the state of the local market, the condition of your home, and recent sales of comparable homes in your neighborhood. Your agent will guide you to the best fair market price that will help sell your home within your desired time frame.
Often, it can be hard for you, as a seller, to also maintain objectivity. So remember to be reasonable about the price you set. Usually, real estate agents have a clearer and more objective sense of market value than anyone else, including property appraisers. So use their expertise to your advantage. Remember, you will be better off setting a fair market value price than setting your price too high and hoping someone will pay it.
prepare your property
It’s time to get your home in “showing and selling” condition. Most of us don’t normally keep our homes in the condition they would need to be in to sell. To make sure your house is market ready, check our “preparing to sell” section of the website. We have included several tips on how to prepare your home for the market so you can attract the most potential buyers possible.
Your real estate agent, who is interacting in the marketplace every day, can assist you in approaching your home from the buyer’s standpoint. Keep in mind that over time we become accustomed to our surroundings. What’s normal for you may be detrimental to the buyer.
Overall, remember that how your home looks will have an immense impact on how quickly it sells and whether or not you get full market value for it. First impressions are very important, and you only get to make one. Make it count!
marketing strategy
Now that your home is ready, it’s time to put it up for sale and market it. Establishing a marketing strategy with your real estate agent is a must. Your agent will expose your home to the most potential buyers possible by utilizing a marketing plan that will have the highest possibility of bringing not only the most buyers, but also the most qualified buyers to your doorstep. At Denton Real Estate, we will work hard to ensure that the marketing plan we develop for your home will bring you the best and most qualified buyers available.
receive an offer
When a buyer decides to buy your home, they will present an offer. You and your real estate agent will then review the written document, taking care to note what is required of both parties to execute the transaction. The contract should protect the best interests of all parties involved and should be comprehensive in nature.
Once you accept the contract, it may be too late to make any changes. The contract, though not limited to the following list, should include:
- A legal description of the property
- The offering price
- The down payment amount
- Financing arrangements
- A list of fees and who will pay them
- The deposit amount
- Inspection rights and possible repair allowances
- The method of conveying the title and who will handle the closing
- A list of appliances and furnishings that will stay with the property
- The settlement date
- Any relevant contingencies
Remember, the legalities of this phase are very important. If you have any questions or concerns, address them right away.
negotiating to sell
Most offers to purchase your home will require some level of negotiation in order to reach the win-win agreement we all want. Your real estate agent is well versed on the legalities of the real estate contract used in your area and will handle the responsibility of protecting your best interest throughout these negotiations. Your agent will review the written offer with you to make sure that you thoroughly understand what the buyers are offering and what they are asking in return.
Some of the items that you may have to negotiate are:
- The price
- Financing
- Closing Costs
- Repairs That Need To Be Done
- Appliances And Fixtures
- Landscaping
- Painting
- Occupancy Time Frame
Once both parties have reached a point where the deal is acceptable, your agent will be certain that you have a legally executable contract.
selling vendors
Once you have accepted an offer to sell your home, your real estate agent will inform you of all the procedures involved in order to proceed successfully to closing. These may include a formal appraisal, survey, inspection or repair. Depending on the specifics reached during the negotiations, you may pay for all, some, or none of these items.
Your agent will then coordinate with all the parties and keep you informed as to the results of the various procedures. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If any problems arise, your agent will help you with the next steps.
Some sales go smoothly and some require a lot of work to get ultimately reach the closing table. Until you get into it, you won’t know which one you have on your hands. Either way, your Denton Real Estate agent will be there with you every step of the way.
pre-close preparation
A few days before the closing, your real estate agent will make sure that all of the necessary forms and documents have been prepared and are ready for you to sign on the appropriate date. Your agent will also make certain that all the involved parties have taken the necessary actions for a smooth closing. Having your qualified Denton Real Estate agent at this point makes the closing process run as smoothly and with as little headache on your part as possible
closing on a home
“Closing” refers to the formal meeting where ownership of the property is legally transferred to the buyer. Your closing officer coordinates the document signing and the collection and disbursement of any funds. Your Denton Real Estate agent will be present at your closing to read the documents on your behalf, answer any final questions you may have, and help resolve any last minute or unexpected details that may come up.
As the seller, you will need to be prepared to hand over any necessary documentation regarding the property and, depending on the arrangements made during negotiations, you may be required to have done something specific in order to close.
Be sure to read all the documents and ask any questions you may have. It is important that you understand every document you are signing.
post-close activity
Congratulations on the successful sale of your home! Your real estate agent will help you create a checklist of all the things you will need to do to turn the property over to the new owners. Make sure all local services (i.e. electricity, gas, lawn care, cable, etc.) have been cancelled or, if the new owner is going to retain some of the services, the name for the account has been changed. The property and anything assigned to the buyer according to the contract should be prepared appropriately for the new owners. This will make the transition as smooth and effortless as possible