Ten Steps for Selling Your Home
FIND AN AGENT. Contact at least three agents to get estimates
of the value of your home. Check recent sales in your neighborhood.
Don’t be shy about playing one agent off against the other to get the
best deal—make them earn their commission. Remember – finding the right
"fit" with an agent may be more than lining up the competence needed to
handle the sale.
BE REALISTIC. Don’t be dazzled by dollar signs. The real
estate market is intensely local, and sales in your neighborhood may not
track nationwide figures. But don’t worry—unless you live in a dump
adorned with pink flamingos on the wrong side of the tracks, you’re
almost certain to make money.
MAKE REPAIRS. Presentation is everything when selling a house.
So make those routine repairs you have been putting off. Grab a
paintbrush for touch-up work. Spif up the yard and get rid of that
ten-year collection of valuable property (junk) that is stacked up in
the garage.
MAKE A SCHEDULE. Ask yourself some basic questions. When do
you want to be out of your current home? How long will it take you to
find a new one? Your schedule may affect the type of agent you retain
and could affect the selling price.
A MINIMUM PRICE. Research the current value of your home and
weigh how quickly you want to move against how much cash you need to buy
another house. Set a minimum price and stick to it. Don’t let yourself
be pushed into accepting less than you want or need.
CHECK YOUR COMPASS. Know where you are going after selling
your current home. Believe it or not—some people don’t and are forced to
camp in a motel for several months. With some planning, you can make the
purchase of a new home contingent on the sale of your current home and
adjust the closing dates accordingly.
LET THE AGENT SELL. Let the real estate agent sell your
current home. Do not stay in your home when it is shown to prospective
buyers. If you do, those looking at it are likely to remember the
goofball who followed them around like a hyperactive poodle rather than
the home’s selling points. Let your agent make the sales pitch.
PREPARE FOR THE SALE. If this is the first time you have sold
a house, learn the basics. There are lots of "how to" books available.
Read a few. You don’t want to find a hole by falling into it. If you
have sold a home before, review your previous experience and think about
how to do things better.
READ THE DOCUMENTS. At the closing, you will set down to sign
a stack of documents. Know what you are signing before scribbling your
name at the bottom of the page. If the transaction is complex or you are
carrying a loan for the buyer, get an attorney involved. A mistake could
pummel your pocketbook.
MOVE IN. Congratulations! Enjoy your new home. After you have
unpacked, you can start thinking about all of the little things you can
do to make it "your home."
