Step 1:
Get your home ready to sell. First impressions are everything. Clean, declutter, touch up paint, Clean, declutter and clean some more! Box up toys and knick knacks except the bare minimum. Store extra furniture in the basement or a friend's home. Make your home look spacious, even if it's not!!!
Step 2:
Price your home to sell. Watch the paper, visit open houses, ask around. Find out what similar homes are selling for in your neighborhood. If you want, contact an appraiser to check some comparables for you. Hint: Some mortgage companies will do this for FREE!!!
Step 3:
Contact a real estate lawyer and/or a title company. These local professionals are invaluable to you! Get a sample contract from a lawyer so you know what to talk to the buyers about. Ask a title company about your required fees and inspections needed, and other forms you may need, such as a disclosure form.
Step 4:
Market your home aggressively and consistently. Use internet advertising, yard signs, directional signs, flyers or brochures, an info tube or box, and advertisements in the local paper. Post your flyers at work and at friends' work, in the local market, and anywhere else you are allowed. The more people that see your home, the sooner it will sell.
Step 5:
Prequalify your buyers. When a potential buyer contacts you, see if you can get some feel of their financial situation. You may feel nosy, but if you are going to take time to show them your house, and possibly take your house off the market, you have a right to know. If you are uncomfortable asking financial questions, refer the buyer to a local lender for a prequalification, which can often be done over the phone in a matter of minutes.
Step 6:
Be accommodating to your potential buyers. Meet them at their convenience. Don't be overly clingy when they come to see your home; allow them to explore some on their own without hovering. (If you have expensive items, put them out of sight or in a safe deposit box, just to be safe!)
Step 7:
When you get an offer, consider it seriously. Even if it isn't exactly what you wanted, it may be the only offer you get for a while. How badly do you want to sell? Remember the old adage....a bird in the hand is worth two in the bush!!!
Step 8:
Come to terms with your buyer over a cup of coffee. Write out the specifics of the agreement and get it to your lawyer to have him draw up the contract. Meet with your buyer again as soon as possible to sign the forms.
Step 9:
Require the buyer to provide you a prequalification letter from a lender and an earnest money deposit, so you know they are serious. Remember, you are essentially taking your house OFF THE MARKET to await financing arrangements.
Step 10:
Keep in touch with your title company and the buyer's mortgage company between contract signing and closing. Make sure everyone is doing what they are supposed to do, and everyone has all the paperwork they need.
Step 11:
Meet with the buyers for closing, collect your check and enjoy a nice dinner with most of your hard earned equity in your pocket!!!
| ***Disclaimer: The above information is a general outline for informational purposes only. For more detailed information on selling your home yourself, we recommend you contact a real estate lawyer or do sufficient research on your own. |