1. Find an
agent
When it comes to selling your home, the first thing you
should is find a real estate agent that knows your area and is familiar with
buyer desires. Once you find a Realtor that is right for you, negotiate a contract and listing agreement.
2. Prepare your
home
Now is when you should start getting your home ready for
sale. This includes tidying up your home and making the imperfections less
noticeable, taking care of issues with plumbing and electric, and most
importantly keep up appearences of the outside. Curb appeal is sometimes
overlooked, but that is the first thing people see so making your home more
inviting can often bring in a lot more perspective buyers.
3. How much is
your home really worth?
This is a huge step that many sellers have problems with.
Though your home may be your idea of perfection, it isn’t always the case. Get
your home appraised and find out what it is actually worth. A lot of times it
will be less than expected, but overpricing your home will deter buyers and
leave you with a home for sale and no prospects.
4. Getting in
the public eye
This stage of the process is also a very important one, but
many times is put off and never gets done. Making sure people know your house
is for sale has become much easier considering advantages of the
Internet. Your Chicagoland realtor
will draw up a marketing plan that is right for you, making your house
available for buyers to see.
5. Know when to hold em', and know when to SHOW em'
Showing your home will give buyers an inside look and give
them a surreal feeling that this could potentially be their home. Timing is
crucial, your realtor will tell you that. A home will have more interested
buyers in the springtime. And who can blame them; nobody wants the go out in
the blistering cold to see a house. The weather has an outstanding effect on
people and choosing there right time to show your house can be critical.
6. Negotiate
existing offers
If someone makes you an offer, don’t jump the gun and sell
right away. Your Chicagoland realtor is aware of the tactics that buyers may
use when making an offer. The lowball approach is a popular one which slows the
process drastically. If the buyer doesn’t give you a realistic offer it is best
to just wait for a serious buyer that is willing to work with the listing
price.
7. Open escrow
time!
After finding a price that works for both parties there is a
hold put on the finalization of the sale. There is a neutral third party that
holds the purchasing funds on behalf of the buyer, and makes sure everything is
in order before any exchange is made. The realtor you choose will guide you through the process and help you understand why it is important.
8. Be Prepared
for inspection
Your Chicagoland realtor will provide you with a
checklist prior to inspection. It is ultimately up to you as far as fixing
problems goes. The smoother the inspection the faster you can sell, so making
your home up to code is before your forced to is definitely a good idea. Also keep
in mind that the buyer is given all the information about the house.
9. Disclose all
necessary information
The buyer must be informed on all manufacturing and material
facts. For instance, all homes are subject to lead-base paint disclosures. There
are also restrictions the homeowner must obey. These are non-negotiable
regulations that will be provided in the CC&R’s.
10. Have the buyer release contingencies
Once everything is properly covered, all inspections are
passed, and all the information is disclosed, yourwill advise you to ask the buyer if the would release the
contingencies. If they do not provide a release, then there is no obligation to
buy. Meaning the buyer can back out at any time, and you will have gone through
all that work for nothing.
11. Sign the title and close the escrow
This is the final stage of the selling process. You will
normally sign the deed to a title company who then sends the information to
escrow. If everything goes accordingly, the house should be able to close soon
after. If you are not familiar with this process, your Chicagoland realtor
sure is, and he will help you get everything in order to help close your house.
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