A guide for homesellers
Selling a home is often an emotional time for homeowners. They aren’t just letting go of a physical structure, they’re also moving away from a place filled with special memories.
To help them through this time, I prepared a guide that will allow sellers to focus on the task at hand.
- Get an agent who knows the market
Choose an experienced real estate professional that specializes in the kind of home you’re selling. Use your agent’s expertise to your advantage –reputation can attract more buyers; so does an extensive network. Knowledge of trends allows agents to tap into nontraditional markets and advice you on upgrades or renovations that will increase the value of your home.
- Make sure your goals are clear
Do you need to sell fast? The agent can provide you with a comprehensive market analysis, as well as an action plan. Otherwise, your agent can help you with a thorough review of the market and identify the best time to advertise your property.
- Prepare your home for viewing
Before getting the word out on your property, address pest and structural issues. Unless you’re selling the home “as is” – and even that has its limits in New Jersey–repairs and upgrades are crucial so you can command a better price for your home. Dealing with problems early on will eliminate unwanted surprises that can delay the sale of your home.
Also, de-clutter viewing areas to suggest roominess and de-personalize them so potential buyers can imagine themselves living in your home. You can also consider hiring a staging professional to style your home for selling.
All these costs will be worth it.
- Price your home
Calculating the current market value of your home is often one of the toughest parts of the selling process. It’s ideal to get it right the first time; otherwise, setting an unreasonably high asking price, only to lower it later will turn off buyers.
Make sure to consult with your agent. They’ll study the inventory of listings that you’ll be competing against, calculate interest rates, and even forecast the ideal time of year to post your listing.
Want to know how much your home is worth right now? Get an estimate right here.
- Go to market
Work closely with your agent to craft a smart marketing plan that makes your property stand out. If done well, your listing can create a good and lasting impression that will have home shoppers going back to it even if they review other properties.
Be prepared to invest in a multi-platform strategy to gain as much mileage as possible. While internet postings are easy to do and promise anytime-anywhere accessibility, sometimes traditional media like local newspapers can still help you get the upper hand.
- Review offers and negotiate carefully
Manage your excitement, especially with the first few offers. You don’t want to say yes right away, only to miss out on chances on a better deal.
On the other hand, be cautious with high-priced bids. Remember that the initial offer is not always final, as succeeding negotiations can influence the final price of the property. Turn to your agent for advice. Think offers through and negotiate the best deal that is fair to all.
- Have your attorney review the contract
Here, lawyers for each party examine and guarantee a clear title to the property. This step takes up to three days on average, but could also take as long as a month. Good real estate lawyers are thorough. They help you identify potential points of contention but will also work to ensure that you and the seller can seal the deal as soon as possible.
- Go into escrow
Upon signing a contract agreeing to the terms of the sale, you and your buyer go into escrow, a process whereby the buyer’s earnest money is entrusted to a third party, also referred to as an escrow agent.
You as a seller will just have to sit this out, as the buyer deals with having a bank or lender assess your property to verify if the agreed-on price matches the market value. The buyer will also authorize a home inspection. Your role is to give bank reps and inspectors access to your property, and be responsive to issues that arise, including clearing liens on the title, or dealing with defective materials discovered in your home.
- Close the deal
When every contractual obligation has been met, the escrow process ends, and the money held in trust will be released to you.
If you’re selling your home in New Jersey, we’ll be happy to bring it to market. Call me,Janine Rose, at 908-229-6253 or email email@example.com for any questions. You can also contact me and my team here.