Sell Your Home in 8 Steps

Sell Your Home in 8 Steps

Selling your home in the Wisconsin Market

1. Decide What You Need in a Home

Write down every reason for selling your home. Ask yourself, “Why do I want to sell and what do I plan to achieve with the sale?” For instance, having children may require a larger home, or accepting a job in a different city may demand a move. For your objectives, write down the time frame you’d like to sell your house within or the specific profit margin you hope to reach. Work with Mariha Stewart to plan the best path to reach your goals and set an accurate time frame for the sale.

2. Set Your Price

Next, you must establish the greatest selling price for your house. Setting a fair asking price from the beginning will create the most activity from other real estate agents and buyers. You will need to take into consideration the condition of your home, what similar homes in your neighborhood are selling for, and the state of the general housing market in your area. It’s often challenging to remain unbiased when setting a price on your home, so Mariha Stewart’s knowledge is priceless at this step. Mariha Stewart will know what equivalent homes are selling for in your neighborhood and the standard duration those homes are available on the market. If you want a truly impartial estimation of the price of your home, you could have an appraisal done. This typically costs a few hundred dollars, however, you’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than three percent of their market value take longer to sell. If your home stays stagnant on the market, prospective buyers may think there is something wrong with the property. Often, when this happens, the seller has to decrease their asking price to less than market value to compete with newer, reasonably priced listings.

3. Organize Your Home

Most people don’t have their home “showroom” ready. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It’s time to break out of that owner’s mindset and make your house sparkle like new. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Mariha Stewart can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers. A home with too much “personality” is harder to sell. Removing family photos, mementos and personalized decor will help buyers visualize the home as theirs. Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen, or a worn doormat, can ruin the buyer’s first impression. Clutter is not allowed when showing your home to possible buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.

4. Spread the Word

Now that you’re ready to sell, Mariha Stewart will set up a marketing strategy tailored to your home. There are many ways to get the word out, such as:

  • The Internet
  • Yard signs
  • Open houses
  • Media advertising
  • Agent-to-Agent referrals
  • Direct mail marketing campaigns

5. Receive Offers

When you receive a written offer from a potential buyer, Mariha Stewart will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and Mariha Stewart will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. The contract, though not limited to this list, should include the following:

  • Legal description of the property
  • Offer price
  • Down payment
  • Financing arrangements
  • List of fees and who will pay them
  • Deposit amount
  • Inspection rights and possible repair allowances
  • Method of conveying the title and who will handle the closing
  • Appliances and furnishings that will stay with the home
  • Settlement date
  • Contingencies

By now, you have three choices: accept the contract as is, accept it with changes (a counteroffer), or reject it. Keep in mind: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with Mariha Stewart immediately.

6. Negotiate and Sell

Most purchase proposals will need negotiating to come to a win-win deal. Mariha Stewart is experienced in the complexities of the contracts used in your area and will protect your best interest throughout the bartering. Mariha Stewart also knows what each contract clause means, what you will net from the sale, and what areas are simplest to negotiate. Some negotiable matters are:

  • Price
  • Financing
  • Closing costs
  • Repairs
  • Appliances and fixtures
  • Landscaping
  • Painting
  • Move-in date

Once both parties have approved the terms of the deal, Mariha Stewart will prepare a contract.

7. Prepare and Close

Once you take an offer on your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected, or repaired. Mariha Stewart can lead the effort and serve as your representative when dealing with the buyer’s agent and service providers. Depending on the written contract, you may pay for all, some, or none of these matters. If each procedure returns acceptable results as defined by the contract, then the sale may proceed. If there are problems with the home, the terms set forth in the contract will decide your next step. You or the buyer may decide to walk away, open a new round of negotiations, or continue to close. Critical to remember: A few days prior to closing, you will want to contact the party that is closing the transaction and makes sure the necessary credentials will be ready to sign on the appropriate date. Also, start making preparations for your approaching move.

8. Close the Sale

“Closing” refers to the meeting where ownership of the property is legally transferred to the buyer. Mariha Stewart will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, she can facilitate any last-minute issues that may arise. In some states, an attorney is required and you may wish to have one present. After the closing, you should make a “to do” list for turning the property over to the new owners. Here is a checklist to get you underway:

  • Cancel electricity, gas, lawn care, cable, and other routine services
  • If the new owner is retaining any of the services, change the name on the account
  • Gather owner’s manuals and warranties for all conveying appliances

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