Steps in Selling a Home
Selling a home is not something most people do every day… unless you are a Realtor®! Often, people will sell only a couple of places over their lifetime, so it is only natural that the steps in selling a home may be fuzzy.
Here is a common list of steps that occur in the average home sale (note, they may not occur in this order):
- Do your research on market conditions.
- Investigate financial implications of the sale (e.g. talk with your bank. Will you have to pay a penalty for leaving mortgage early etc)
- Prepare your house for sale. (You know, do all those tasks you’ve been putting off… like changing that brass light socket)
- Find a good Realtor®. Interview a few different agents. Go with the best match for you.
- Find other professionals to help with the sale: lawyer, notary, stagers etc. (your Realtor® will be able to help with this)
- Sign the Listing Paperwork. This gives your Realtor® and his/her brokerage the authority to market your home for sale
- Set your home’s asking price.
- Ready your home for showing.
- Allow showings to buyers (keep your house show ready!)
- Negotiate offers
- Accept offer
- Closing the deal. (On completion day, the sale money will go to your lawyer. He or she will pay off all debts on the property e.g. mortgage balance. The remainder of the money will be deposited in your bank account. On possession day, the new buyers will take ownership of their new home.)