The Home-Seller’s Checklist You've Been Looking For
Selling your home can feel like quite a task. From pricing your house accurately to getting it ready to sell, to closing the deal, and making sure you have the budget for it all, we understand it can be overwhelming. This is why we created a home seller checklist, to make sure you don’t forget any of the important steps along the way when selling your house. With that, let’s get into it!
Understand your home’s worth
When you sell a home, you want to get the most out of it. There are plenty of things you can do to ensure you’re getting the best offer you can get.
Conduct a comparative market analysis to figure out your home’s worth.
A comparative market analysis takes all other similar properties in your area, analyzes how much those homes sold for, and shows you a ballpark figure of how much your home is worth. This is an important task to spend time on because you’ll want to make sure you price your house just right for the current market conditions. Too high and you won’t get a buy but price too low, and you’ll leave money on the table. Luckily, our software can help you with this.
Get a home inspection
If there’s an issue with your home, you’ll want to know about it before the seller does. Getting a home inspection gives you an objective view of the shape your home is in and what it’s going to cost to get into the right shape. Once you have your inspection done, you’ll understand how much money you’ll need to put into your house to get it in the best condition for a sale.
Work on home improvements
As you know, everything should be looking good and working well when selling your house. Here are some of the obvious tasks to take care of when preparing your house for a sale:
- Make sure all odors are gone. A simple fix for this is using baking soda wherever the odor subsists.
- Clean the carpets. This should run you $25-$75 per room if you get it done professionally.
- Refresh the paint on your walls. Although a fun project to take on with your family, a lot rides on getting the job done well. We’d suggest hiring a professional to get your walls looking modern and attractive to potential buyers.
- Hide all personal items like photos. When prospective buyers are looking at a home, they are trying to imagine themselves living there. When they see personal items like photos on the wall, it still feels like it’s your house. Take out the personal items so the buyers can imagine it being theirs.
Another option here is remodeling areas of your house that you don’t think will be attractive to potential buyers. Living rooms, kitchens, and patios are common areas to be overhauled before a sale. Just note that you’ll want to consider all these home improvements in the way you price your home. A home before repairs and remodels is less valuable than after. This should be reflected in your sale price and should be communicated to potential buyers.
Prepare your budget
Selling a home is not cheap. In order to prepare for the impending expenses, do your research on what could cost money. To help point you in the right direction, you should budget for:
- A realtor or a service like Homeworthy. You need the ability to get your listing out there and find potential buyers to close. Decide whether you want to go down the realtor route or try something else that takes a smaller commission.
- Staging. Hiring someone who comes in and makes your home look great, and hopefully helps you sell it. This can be done without a stager, but the cost of not getting it done professionally is something to consider.
- Paying off your mortgage. If you decide to sell your home, you will fo course still be expected to still pay off your mortgage, which will eat into the profit.
- Any unexpected closing costs. Sellers and buyers both have closing costs, but sometimes, buyers can pass their closing costs off to the buyers as a negotiation tactic. Prepare for this in your budget.
Once you have the money aspects under control, it’s time to put your home’s best foot forward and seal the deal.
Keep it clean
While your home is on the market, you want to make sure it stays in top shape all the way through the close. Keep everything as tidy as you can, and consider hiring a cleaning company if a lot of people are coming in and out of it. At the minimum, you’ll want to have the carpets professionally cleaned. If you have many people coming into your house over multiple weeks, I’d keep them on speed dial.
Understand your bargaining chips
In real estate, negotiation is common practice when closing out a deal. Since it’s usually one of the most expensive purchases that someone will make in their lifetime, the negotiation is mostly warranted. Before you get to this phase, you want to know what would matter to you in negotiation and what you would be able to let go. This gives you more confidence going into a negotiation, and will likely help lead to an optimal outcome for you. Some items you can expect to negotiate on are:
- Offer a home warranty. This gives a buyer peace of mind that if something breaks after they purchase the house, it will be covered and they won’t be liable.
- Cultivate multiple interested parties. If you have many people interested in your home then they are bidding against each other as you’re watching the price go up and up.
- Offer to cover closing costs — This has become common practice in selling your home recently. if you can cover it, covering closing costs can be used to push a deal through.
Follow through all the way to close
It ain't closed until it's closed. Make sure you’re working with the buyer every step of the way to ease their concerns. Customer service at this point is very crucial. Once every t has been crossed and every i dotted, you finally have yourself a sold home. Congrats!
You might be wondering why we didn’t list a real estate agent here. It is because we don’t think that having one and giving up six percent commission is necessary anymore. If you want to ignore the big commission fees that come with an agent, then try out Homeworthy. List your house, market, and sell for a fraction of the cost of a real estate agent.