Home Seller Checklist

Below is a home seller’s check list with many considerations to take into account from preparing your home for sale through the final closing process…we hope this is useful information and if you have any further questions, contact us through this website.

HOME SELLING CHECKLIST

Do you need to sell?

  • Weigh the pros and cons of selling.
  • Can you afford to sell, move and buy a new home?
  • How much equity do you have?
  • Should you remodel rather than sell?

Determine your selling expenses

  • List the repairs and projects you will have to do to get your home ready to sell.
  • Expect to pay about 7 to 9% of the home’s sale price in closing costs, which includes:
    • Real estate agent commissions (about 6% of the sales price).
    • Transfer taxes.
    • Property taxes.
    • Title insurance and escrow fees.

Factor in other costs

  • Mortgage payoff penalties.
  • Staging expenses – i.e. new paint, new carpet, light fixtures, etc.
  • Moving expenses.
  • Costs related to getting a loan for your new home.
Plan your selling strategy
  • How fast do you need to sell and how much money do you want to get from the sale?
  • Interview two or three reputable real estate agents in your area.
  • When you hire a listing agent, negotiate the terms of your listing contract, i.e. commissions and termination date.
  • Determine your home’s strengths and unique features (including all upgrades and remodeling that you have done).

Determine your home’s fair market value and with the help of your listing agent, set a price

  • Prepare these documents
    • Prior year’s tax bill, utility bills.
    • Permits for additions, pool, etc.
    • List of the items to be included or excluded from the sale.
    • Disclosure forms (you will get these from your agent).
  • Your agent will research comparable sales – homes in your area with similar square footage, constructions, and that have sold. within the last three months, and those that are currently on the market.
  • Find out about new construction and foreclosures/short sales in your area.
  • Average cost per square foot for your area – make sure that your home is priced in line with this.
  • Evaluate current market trends.
    • Is it a buyers or sellers market?
    • Level of competition among buyers in your area.
    • Current interest rates and the lending climate.
    • Average number of days homes are sitting on the market.

Stage your home and prepare it to sell

  • Have a yard sale.  Sell, donate or get rid of everything you don’t need.
  • Make needed repairs.
  • Make improvements to increase your home’s appeal.
  • New paint – interior rooms should be painted in neutral colors.
  • Clear away clutter.  Pack up many things – you are moving anyway – so you might as well pack away now.
  • Clean entryway, porch, sidewalks, etc.
  • Professional-looking landscaping.
  • Replace outdated lighting fixtures and window treatments.

Keep your home show ready at all times.  This is hard to do, especially with children, but it is worth it – knowing your house is looking its best for potential buyers.

 

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