1) Choose a Listing Agent
- A listing agent will represent you and have a fiduciary responsibility to look out for your best interests.
- Negotiate your listing agreement, including term.
2) Get Home Ready for Sale
- Prepare your home for sale by cleaning, decluttering and improving curb appeal.
- Make repairs before selling.
- If you're selling a home where pets live, make alternate plans for your pets.
3) Figure Out How Much Your Home is Worth
- One of the biggest mistakes is to overprice.
- Price your home in line with sold homes identified in a comparative market analysis report.
- Consider whether your market is hot, cold or neutral, and price according to the market temperature. (A Listing Agent can assist with this)
4) Market Your Home
- You or your agent should identify the sizzling selling points and choose advertising words to sell.
- Approve your agent's marketing campaign or figure out how to advertise your house for sale yourself.
- Take quality photographs.
- Post internet listings online. Your agent or you should saturate the internet with photographs and description of your home.
5) Show Your Home
- You've got only one chance -- and sometimes only 3 seconds -- to make a good first impression.
- Prepare for an open house and use the approach sparingly.
- Ask for buyer feedback so you can adjust your price, condition or marketing campaigns accordingly.
6) Receive Purchase Offers and Negotiate
- Even if you receive a lowball offer, negotiate by issuing a counter offer. Don't ignore offers.
- Ask for a kickout clause or first right of refusal if the buyer's offer is contingent on selling a home.
- Consider making a counter offer contingent on buying a home, if market conditions warrant.
- Don't be afraid to make a full-price counter offer, if you are priced competitively.
- If you are priced right, prepare yourself for multiple offers.
7) Open Escrow / Order Title
- Your agent or transaction coordinator will open escrow and order a title policy.
- Write down the contact information for the closing agent.
- Select a date to close based on when the buyer's loan will fund.
- Ask for a receipt for the buyer's earnest money deposit.
8) Cooperate with Home Inspection
- The buyer hires a home inspector to determine if there are hidden defects with the structure or systems of the property. The offer’s Inspection Contingency protects the buyer if significant unforeseen problems are discovered.
- Ask your agent to provide you with a home inspection checklist so you will know which items an inspector will want to see.
- If you are aware of material facts, disclose them.
9) Negotiate Request for Repair
- Ordinarily, sellers do not need to accept a buyer's request for repair; however, buyers can generally then cancel.
- If you do not choose to make repairs, a buyer might instead accept a closing cost credit.
10) The Purchase and Sale Agreement and the Appraisal
- Your attorney will negotiate the P&S, the final, detailed sale contract. Once it is signed, the buyer’s lender sends an appraiser to make sure that the value of the property justifies the purchase price.
11) All the final details
- From this point, there are still a number of critical details to complete before your house is successfully sold. Dates, deadlines, and documents rule this final stretch of the process.
- In a final walk-through, the buyer checks that the house is in the agreed upon condition. The closing brings all the parties together to sign the necessary papers, exchange monies and keys, and complete the sale. Transfer of deed completes the sale.