As a homeowner, when you decide to place your home on the market, you are faced with the decision to either hire a real estate professional or sell your home yourself. Most homeowners don’t realize how much work goes into selling a home. Well, here’s a list of steps to help you with your success.
- Hire an attorney (preferably one who specializes in real estate) to help you with the forms, paperwork and legal issues surrounding selling your home.
- Get a list from your attorney of other service providers you may want or need to use (ex: title insurance company, building and termite inspectors, etc.)
- Find and complete a “Seller’s Disclosure Form.”
- Map out your marketing strategy and budget yourself for the advertising and promotion of your property. Remember: You’re looking for the “Right Buyers.” Reach out in your marketing campaign to find them.
- Consider running an ad in one or more major publications. There are many good publications about writing effective ads available at major bookstores.
- Buy and read a good book on the subject of selling your own home. It will have many lists and checklist to keep you on track.
- Design fliers, home feature sheets and a “Home Book” to help capture the attention of the buyers.
- Have standard data and information for buyers to inspect like utility bills, taxes on the property, lot size, etc.
- Be ready to provide buyers with the names of lenders who might lend money to a buyer of your house. Not all buyers are cash buyers.
- Consider purchasing a URL and developing a website for your property.
- Consider getting and opinion of value from a licensed real estate appraiser. Pricing your property too low or too high could cost you thousands of dollars.
- Contact your local Housing and Urban Development Office to get a free copy of the “Federal Fair Housing Guidelines.” This valuable information will help you avoid legal problems that might otherwise arise in the advertising and sale of a property.
- When a prospective buyer does contact you:
- Find out if they are qualified to buy your home
- Set an appointment that is convenient to both parties.
- Get your home “ready to show.”
- Have property information, disclosure forms, contracts and addendums ready in case they want to write and offer.
- When they arrive, introduce yourself at the front door and thank them for coming.
- Allow them to tour your property at their pace giving them as much privacy as possible. At the same time however, be ready to answer questions and address common concerns.
- Be prepared… many buyers are shopping the market. Most won’t act immediately.
- Follow up with each prospective buyer.
- If they write an offer, contact your attorney and start negotiations.
The above checklist is for informational purposes only and is not a substitute for legal, tax or other professional assistance.
Feel free to contact us with any questions you may have about selling your home.