Whether you’re moving across the country, to another city, or just down the street, selling your home takes a great deal of preparation. It’s our goal at Iron Star Realty to make the process as stress free and enjoyable as possible. Here is a quick look into selling your home.
1. Ready Your Home for The Market
- Complete Repairs-Set your home apart from the rest. It is always best to make necessary repairs for the best presentation.
- Make Ready for the Market-Oftentimes a few minor Upgrades or Updates can make a major impact on the final sales price.
2. Set Yourself Up for Success
- Hire a Full Time Professional Realtor
- Determine a Pricing Strategy to attract Buyers.
3. Go from Active to SOLD
- List Your Home on MLS (Multiple Listing Service)
- Execute a Contract
- Closing and Funding
Complete Repairs-Set your home apart from the rest. It is always best to make necessary repairs for the best presentation.
Make Ready for the Market
Oftentimes a few minor Upgrades or Updates can make a major impact on the final sales price.
Hire a Full Time Professional Realtor
A Full Time Realtor can get your home sold faster and at a higher price than doing it alone.
Determine a Pricing Strategy
Price your home to attract buyers.
List Your Home on MLS (Multiple Listing Service)
To attract the most buyers possible for your home.
Execute a Contract
Take time in evaluating the offer and sign an agreement that is best for you.
Closing and Funding
Have your home ready for new Homeowner and prepare for closing day.
Let’s Take A More Detailed Look at the Process
Step 1: Get your home ready for the market
Start the listing process right by completing repairs your property may need. During the sale of your home a Buyer will have a Home Inspection. The Inspection will uncover repair items that might derail the closing of your home. It is a good idea to be proactive and make repairs before the inspection. Make your home a showplace!
Make Ready for The Market
You will want to make your home ready for the market. The objective is to make your home “Show Ready.”
This usually involves:
- Paint Touch-ups
- Cleaning Carpets
- Adding Fresh Mulch
- Trimming bushes
- Deep cleaning the entire house
- Stage rooms to allow for the most functional flow/layout
These items will set your home apart from the competition and help achieve a higher selling price.
Step 2: Set Yourself Up for Success
Hire a Professional & Full-Time Realtor
Start by hiring a local Expert. Avoid using a family member or someone in your neighborhood (Unless it’s Me). Rather than having someone learn by trail and error on your home, We suggest finding someone with experience.
A Few Questions to ask before hiring a REALTOR:
- Do they hire professional photographers to take pictures?
- Do they use High-Definition Imaging software and with wide angle lens?
- Do they use a Third Party professional Showing Service (Centralized Showing Service), or are they responsible for coordinating all of your showings?
- Do they use a Smart Lockbox (SUPRA) or cheap combination lockbox?
- How many year have they been selling real estate, how many homes do they sell each year, and how does that average compare for the area?
- Do they have an online presence with positive online reviews?
- Do they communicate on a regular (weekly) basis?
- What is their advertising for your home?
- Do they use electronic services for your convenience (Digital Signatures, Document Storage, Feedback Tracking, etc.)?
Taking time to ask these questions will greatly increase your odds of finding a quality real estate adviser. Your home selling experience will be greatly affected by the competency of the real estate agent that you hire.
Determine a pricing Strategy
We will discuss a detailed pricing strategy for your Home. During the pricing analysis, we will provide and discuss comparable sold properties within your immediate market area. The objective is to arrive at a price that will sell your home within the typical market time-frame, but not leave any money on the table.
A key point to understand is that extended time on the market equates to a lower offer price. An unfortunate example is when a seller lists their home for too much and then drop the price. Once your property has been on the market for a couple of months, buyers will look for reasons the home has not sold and think you are desperate to sell. In addition, the offers will be lower than what you would have received in the first couple of weeks on the market. It works out better if you can create a bidding war by pricing your home competitively.
Step 3: Go from Active to Sold
It’s Time to List Your Home on MLS (Multiple Listing Service), so that we can generate market exposure.
A few items to consider before showings occur:
- Make certain your home smells pleasant (Vanilla and other neutral scents are best)
- Open Blinds & Turn-On Lighting
- Turn on Classical Music
- Leave the home so that Buyers can Envision themselves in your Property
Execute a Contract
Congratulations, you have received an offer!! However, it is important to take time when evaluating the offer. Do not let the initial excitement of an offer override the need to consider all the important components of the offer.
Carefully consider the following:
- Pre-Approval Letter
- Financing Terms and the requirements for those options (FHA, VA, Conventional)
- Down-payment (will impact strength of offer & need for closing cost assistance)
- Contingencies (Do the have a home to sell?)
- Option/Inspection Time (How long are they asking to take your home off the market)
- These are just a few items, so please consult your Realtor for more details
Closing and Funding
Now it is time to schedule a closing time with the Title Company and prepare your property for the new Homeowners! Please be considerate and have your home clean, lawn mowed, and all keys ready for the new owners.
Items to bring to closing:
- Government Issued I.D.
- House Keys & Garage/Gate Remotes
- Repair Receipts
- Welcome letter to the Buyer with any instructions you would like to leave (Sprinkler system, garage access codes, alarm codes, etc.)
Closing in the morning is advised, as the wire (funds) cut-off time is 4PM (CST) and it often takes a couple of hours to process all the closing documents. Once the Buyer’s lender has approved all the closing the title company will release funds.
Congratulations your Home is SOLD!!!
It would be much easier with US!!!
Selling a home?
Complete the Form Below to start the home selling process. Selling your home is a major undertaking, so let us help you meet that challenge.