Selling a home is a huge financial decision to make. Whether you’re selling to upgrade, downsize, or pursue a new opportunity, you need to get the process down pat from start to finish.
Check out our comprehensive guide below.
Hiring a real estate agent
Having a real estate agent by your side is a huge advantage in the home selling process. Your real estate agent will find buyers, recommend trustworthy vendors, and negotiate for a good deal on your behalf.
Aside from looking after your best interests, a real estate agent also helps in determining the best asking price, marketing your home, and handling the piles of paperwork.
Don’t stop with just one real estate agent when looking for the one to work with you. Screen several and ask them several questions to see if they’re the right fit for your real estate needs. Let them elaborate on their real estate experience and knowledge of the local real estate market. How long have they been an agent? How do they plan to sell your home? What gives them an edge over other real estate agents?
Preparing your home for sale
Everything starts with cleaning and decluttering your home to make it look more spacious. Plus, it allows buyers to envision themselves living there. Consider upgrading or renovating certain areas of your home as well. Minor renovations such as replacing old countertops, adding energy-efficient features, and improving the bathrooms can do wonders for your home sale.
Also, remember that great curb appeal paints a good impression at first glance among buyers. Seeing how beautiful your home looks from the outside will make them want to see what’s on the inside. To boost your home’s curb appeal, make sure that the lawn is mowed, the windows and gutters are clean, and the pathways are well-maintained. You can even add a fresh layer of paint to your home’s exterior or give your front door a makeover.
Pricing your home
Determining the selling price of your home is one of the trickiest parts of the process. Overpricing your property causes buyers to lose interest and keeps your home on the market longer. The right asking price will attract more buyers, especially those that are qualified and willing to pay for its market value.
Price your home competitively and realistically by checking out the comparable sales. This includes recently sold homes in your area that are similar to yours. Comparable sales, or comps, are based on four key factors: location, features, size, and condition.
Knowing your disclosure obligations
Sellers are required to disclose any existing or previous problems in their home before any real estate transaction is completed. Disclosing these problems protects the buyer from any possible issue and shields the seller from any legal action.
Each state differs in terms of the seller disclosure requirements and the format of their disclosure form. Some states require sellers to provide specific information about their home’s structure; other states don’t allow real agents to help their clients fill out the disclosure form. In Arizona, home sellers must fill out the six-page Residential Seller’s Property Disclosure Statement.
The major issues that Arizona sellers are legally required to disclose are:
- Presence of lead paint
- Roof and plumbing leaks
- Electrical issues
- Property drainage issues
Marketing your home
The key to a successful home sale lies within your marketing strategy. Work with your real estate agent to create a marketing plan that uses both traditional and digital strategies. Your digital marketing strategy, for example, will include social media campaigns and virtual tours.
Home staging and high-definition photographs are essential to marketing your property, as well. Before listing your property online, hire a professional real estate photographer. Photographs with great resolution in your listing almost always ensure faster selling of your property with a generous profit.
Negotiating an offer
Once the offers start coming in, review these and choose the best one. During the evaluation process, take a look at the buyer’s contingencies, concessions, and financing with your real estate agent. You can either accept, reject, or counter the offer. Your real estate agent needs to be experienced to know if you are getting top dollar based on those comparables and market conditions.
Closing the deal
After both parties come to an agreement, the escrow process begins. Buyers will carry out the necessary tasks like securing financing, depositing the down payment, and scheduling a home inspection and appraisal before the transaction is completed.
Get top dollar for your home with Synergy RE Partners.
At Synergy RE Partners, we provide a personal, hands-on approach to selling your luxury home in Phoenix and Scottsdale, Arizona. Work with us today by calling 480.581.1011 or sending an email to info(at)synergyrepartners(dotted)com
Disclosure Requirements When Selling a Home
For many people that are considering selling a house, a key concern will be what to do with regards to the disclosure requirements. All sellers are required to disclose specific conditions to all buyers. Sellers that deliberately hide information can be sued, and even convicted for fraud. All home sellers are obliged to provide these disclosures. We know that the disclosures can seem complex to sellers, which is why we go through the process with them. The role of the real estate agent is to ensure that sellers are correctly obliging with all disclosure requirements. Below, you can find out more about the disclosure requirements that are required when selling a home. Click here