You’ve decided to sell your home. Maybe you’re relocating in the Lansing area to move into a bigger home and grow your family. Perhaps you want to downsize and move into a more manageable space. Or maybe you’re moving to a new area for a new job or another opportunity. Whatever your reason for selling your home, you want the process to be neat, organized and well planned-out. We’ve created the Seller’s Roadmap to take you through each step in the home selling process, so you know what to expect.
Deciding to Sell
Deciding to sell your home may be an easy decision; you may be looking forward to a new opportunity. Or it may be more difficult; it may mean leaving memories behind. We know there are many emotions at this step in the home selling process, and you should continue only when you’re ready.
Finding an Agent
Once you’re ready to sell your home, it’s time to find a professional, experienced agent. This is perhaps the most important step in the home selling process. The partner that you choose to assist you can determine the path and success of all the subsequent steps in the home selling process.
When finding an agent, it’s important to work with an experienced, full-time professional and an interconnected real estate network. The resources that your agent has access to and the marketing and selling strategy they use will determine how much attention your home receives, and what offers you get. You want your home to be seen by as many serious buyers as possible, and you want to use a selling strategy that has been proven to work.
You also want to work with an agent who has your needs at heart, and who will negotiate on your behalf. Sometimes, the home sale process is quick and straightforward, and everything goes according to plan. But if something goes wrong, you want a real estate agent who will put your needs at the forefront and advocate for you in the home selling process.
Preparing & Showing
A potential buyer’s first impression is extremely important. A few small changes to your home’s presentation can make a big difference in the minds of buyers, and this is why preparing and showing your home properly is so important to the home selling process.
If you’re not sure where to begin when it comes to showing your home, that’s okay; that’s what we’re here for.
Getting your home ready for buyers doesn’t mean making every possible upgrade. You don’t have to remodel your home to make it ready to sell. It’s important to choose your preparations carefully, and make changes that will increase your home’s value. Many of these preparations don’t cost much money, though they will require hard work. The following updates and changes are some of the most important at this stage in the home selling process:
- Fresh, neutral paint and trim
- A full cleaning from floor to ceiling
- Removing old or outdated decor
- Removing dead or overgrown plants or trees
- Storing personal items like photographs
- Removing clutter and items you don’t often use
- Arranging furniture to highlight key features like fireplaces or windows
If you’re not sure where to start, or you have other updates in mind but you’re not sure if you can afford them, contact us. Our team can help you determine how much you’ll get out of each investment and what types of remodeling are worth it at this step in the home selling process.
Receiving And Accepting an Offer
Receiving an offer is one of the most exciting steps in the home selling process. Receiving an offer that is at or above your asking price is even more exciting!
When you put your home in front of the right buyers, you may be surprised at the level of interest it generates. It’s not uncommon to receive several competing offers.
Though it’s tempting to simply accept the highest offer, you should also consider how stable the prospective buyers are. For instance, a buyer who is pre-approved for a mortgage is more reliable than a buyer who isn’t. Some home purchases come with sale contingencies, where the buyer must first sell their home before they can buy yours. The right offer can make these uncertainties worth the risk, but this isn’t always the case.
When you reach this stage in the home selling process, we can help you gauge each offer accurately, determine the risk involved, and help you choose an offer that best meets your needs.
Inspections & Appraisals
Accepting an offer isn’t the end of the home selling process. There are a few more steps to take care of, including inspections and appraisals. These steps may go smoothly and according to plan, or you may have to adapt your home selling process.
Before officially purchasing your home, your prospective buyer will conduct an inspection and appraisal. The inspection is to ensure that any issues with the property have been declared, and there are no hidden surprises. The appraisal is generally required by the bank, and it is done to ensure the mortgage amount makes sense with the home. If other issues appear during the inspection phase, the buyers may ask for some concessions, or they may back out of the deal all together. If the appraisal shows the home is worth less than listed, you may need to adjust the price, and it helps to have a facilitator to represent you.
This is the final step in the home selling process! Once you’ve reached this stage, your home is nearly sold.
At closing, you and your buyers will meet to finalize the sale. This means transferring deeds and titles, finalizing the purchase agreement, and taking one last walk-through of the home. Here, you will transfer the property to the buyer, now the new owner. If all documents are in order and closing concludes as expected, you will have sold your home!