15 Things You Must Know Before Selling Your House
May 24, 2023 | amandasearlerealtor
The list of things you should probably know before you sell a house could probably fill a book. However, there are some things you must know and some things you can trust a real estate agent to help you with. Here are 15 things you must know before selling a house.
Do you have a Clear Title?
The title was most likely clear when you bought the house, but if any liens have been put against it since, they will need to be cleared up.
How much do you still owe on your Mortgage?
The amount of you still owe on your mortgage will be paid by the proceeds from the sale first.
How expensive are Closing Costs?
Closing costs can be figured based on a percentage of the sale price. Usually, if the price is over $200,000, you can figure at least 2% for closing costs + the real estate commission if you use a Real Estate Associate.
Where are you going once you sell your House?
Are you moving to a new home in the same area or are you moving outside of your current city? You don’t want to start marketing your property unless you have a plan for future housing in place.
Have you upgraded the Property?
After buying a home, you may remodel the kitchen, add a new roof or complete other repairs and upgrades. If there are repairs needing to be done, you should consider taking care of them before you market the home.
Have you had a Home Inspection lately?
A home inspection will show you what you should fix before you list your home. Most buyers will have one done, so you should get one of your own before you market your home.
How will you determine the List Price?
Do you know the local market well enough to determine a good list price for your home? If it’s too high, you will struggle to find interested buyers. However, if the price is too low, buyers may think there is something wrong with the home.
Are you prepared to Disclose Anything Affecting the Value of the Property?
State and Federal laws require you to disclose any facts about the home that may affect the value.
Will you Stage the Home before listing it?
Staging is a great way to help you get the most out of your home. If you plan to stage your home, do you have a staging company in mind?
How will you Determine if a Buyer is Qualified?
Often, real estate agents will screen buyers and they will have to be pre-approved for a mortgage just to see your home. If you go at it alone, how will you determine if a buyer can actually afford your home or qualify for a mortgage?
How will you Market the Home?
Marketing your home will help to attract buyers. Will you have your home listed on the Realtor Association’s Multiple Listing Service? How do you plan to make this happen?
What will you do about the Legal Part of Selling a Home?
Do you have a title company or an attorney ready to help with the closing?
How will you Handle Offers?
What will you do if a prospective buyer makes a verbal offer? Handling offers is a huge part of making sure you get top dollar for your property. Are you prepared to negotiate a deal with a buyer?
How will you Show the Property?
Do you plan to use an open house? What about letting total strangers into your home during the day or at night?
Will you hire a Real Estate Agent?
It’s wise to hire a real estate agent when selling your home. They will take on all the marketing, open houses, setting the list price and most of the heavy lifting.
Selling a home isn’t an easy process, especially if you are not experienced. A real estate agent will take the stress out of the process and help with just about every part of the sale.
