It is nearly impossible to overemphasize the services of a realtor in identifying a perfect real estate deal. More so, their expertise keeps you in safe hands for not only a correct evaluation or estimation but the right timing. Although some of the requirements vary by location, there are local and national laws to adhere to, for perfect deals.
As a general rule, the homeowner needs to mark up a checklist for selling a house. But this deal will require the professional assistance of a realtor who understands all the included terms. So, briefly, what are the essential steps to follow to sell a house safely?
1. Choose a trusted Realtor to Evaluate Your Property
Trust is the first rule of committing your property into the hands of another person. Ensure the realtor is a professional who is qualified to deliver the required services. You can meet with a number of them before choosing the best of all. Some factors include the integrity, years of experience, legal competence, the worth of past completed deals, and flexibility. At the interview of the chosen realtor, ask for the terms of your agreement and his commission rate.
Ask as many questions as you want for more clarity, including your interests that the realtor defends. After reaching an agreement with your agent, the next step is for the latter to evaluate the property to be listed. A professional estimation is often better than the owner’s, especially when scaled on a market analysis. Let the agent tell you how flexible the current market is and what your chances are for a good deal.
2. Prepare and Market Your House
Note that any property for sale must be in good shape before asking potential buyers to take a look. The processes may include cleaning, landscaping, decluttering, staging, and other essential activity. Also, you may ask your agent to suggest helping hands to improve the outlook of the home. It is now time to identify all the sellable attributes of your home and get a copywriter to give a detailed description.
On the other hand, you may develop a campaign yourself or consult an online tour company to help out. Note that online posting and sale prove statistically more effective than other options of a house sale. Similarly, you can use a lockbox or direct appointments to draft appointments and meet with potential buyers. Maintain an amicable atmosphere with responsive negotiations with buyers in the presence of your realtor. This way, you can adjust other conditions to suit subsequent buyers and maintain your value.
3. Process standing offers and Open Escrow with Title Policy
Check out all the standing offers that align with your requirement while providing counteroffers. With the help of your agent, you can negotiate competitive prices from comparable sales. Don’t leave out other clauses, especially when the willingness to buy the house is dwindling. If you finally accept any of the offers, you can then move on to the next steps.
The transaction agent will then open an escrow and order a title policy for the sale agreement. On the part of the buyer’s agent, he funds the loan for a set date and schedules an appraisal. Involve a lawyer to oversee the contract (in some cases, your agent might be a qualified lawyer) and prove it.
4. Home Inspection, Seller disclosures, Sign documents, and Close deal
Open up the property for home inspectors according to a pre-drafted checklist by your agent. This checklist will help you to prepare ahead of the inspection and meet the requirements adequately. Also, ensure you disclose any potential issue with the house along with documenting them. In some cases, the buyer may request for specific repairs that you need to implement.
When you reach all conditions, you will need to sign all essential documents, including escrow. All parties will need a proof of identity in closing the deal, under the law. Finally, be present at the closing appointment to finalize the agreement and formally hand over the property. I wish you a very benefitting deal.