Understanding the Home Selling Process
April 21, 2018 | Ramseier Realty Group
The home selling process can be tricky to understand even if it's not your first time selling a home. Here’s a guide to help you understand what you need to do to sell your home.
Select a realtor.
Now, you may question the validity of this first step. People have, after all, sold houses without the help of realtors. This is true. People have also won legal cases without consulting with a lawyer. It all depends on your situation and how much you know. If you feel like you are not an expert in local real estate, you should definitely have a realtor.
Be aware that there are many qualified realtors that you could work with. You want to choose the realtor who is right for you. You’re looking for someone who listens to you, is easy to get along with, and has great negotiating skills. This person should also be knowledgeable about other homes in your community. For more on picking your realtor, click here.
Meet with your realtor.
You’ve chosen who you’d like to work with. Now, it’s time to meet with them. In this first meeting, you’ll want to discuss any time constraints or financial goals. If you’re relocating because of a job, you’ll want to discuss that. Likewise, it’s important to mention if there’s a certain amount of money that you must get from the sale of your home.
Invite your realtor to your house.
The next step is to have your realtor come take a look at your house and property. By taking a look at what you have, the realtor can get an idea of a possible asking price. Your realtor will look at nearby properties that are for sale or have sold recently along with the condition of your house. It’s possible that your realtor may even suggest some staging or quick home projects to help you get more money or have a quicker home sale.
Set your asking price.
All of this will help the realtor suggest an asking price. Realize, this is your real estate expert’s suggestion of what price they think your house can sell for. Ultimately, it’s up to you about what the asking price should be.
List the property.
With your asking price established, it’s time to list the property. Once your property is listed, your realtor will do various things to attract buyers. This includes lots of marketing and possibly online listing services. You may also have an open house.
All of the work that your realtor does is to generate interest in your home. They’re hoping to have property showings. Whenever someone is interested in your house, their realtor will schedule a time to bring them over to see your house. By increasing your number of property showings, you increase your possibility of a sale.
Get an offer.
When someone sees your house and decides they want to buy it, they will make an offer. Their agent will submit the offer to your agent. Then, your agent will bring the offer to you.
If you’re unsure of what to do, ask your agent. Another component of their job is to negotiate and advocate for you.
Keep in mind that receiving an offer is often times quite a process. Once you receive the offer, you can accept or counter. To get to the end point of having an accepted offer, there is often a lot of back and forth negotiation.
Now that both sides have accepted the offer, you wait patiently. In order for the sale to go through, your buyer needs to be approved for financing and your home will need to be inspected and appraised among other things. Just be patient and calm. Your realtor will let you know if there’s anything that you need to do.
Go to your closing.
When the time comes for closing, make sure to be on time and ready to sign lots of papers. Everyone involved in the sale of your home (you, the buyers, the realtors, and the closing company) will be there to sign papers. Once everyone signs, the deed will be recorded and you’ll get your check.
When you get your check, your home sale is done. Your house is officially sold. Congratulations!
Here at Ramseier Realty Group, we know that the home selling process can be complicated. We’re here to help! If you’re thinking of selling a home, give us a call at 816.262.8077 or contact us through our website. We’d love to help you sell your home!