Tips for a smooth sale on how to sell your home

We’ll walk you through the stages to selling your house so you can attract buyers and get the best price — without losing your cool.
Step 1: Make a plan for how you’ll sell.
Every every facet of the process, from the selling strategy to the cost of selling the home and the preparation you’ll need to undertake, is dictated by how you decide to sell.

You don’t have to advertise your home with a real estate agent in the internet age; you have options. However, you must consider the benefits and drawbacks to determine which option is ideal for you.

Have you heard of Opendoor before? Learn how we can help you sell your house faster.

With the help of a real estate agent

The listing agent markets the home, prepares the paperwork, and communicates with the buyer’s agent, who supports the buyer in finding and closing on a home. Many sellers prefer to engage with an agent because they can advise them on price, incentives, and market expectations in their area.

How to Sell Your House in a Couple of Steps

The selling agent will normally charge a 5-6 percent commission (cost varies by location) for assisting you with the sale, which will be divided with the buyer’s agent. Keep in mind that, in addition to agent commissions, there are other costs associated with selling your home.

Owner-occupied property for sale

The owner oversees all parts of the sale using this option (also known as “FSBO”). You won’t have to pay a listing agent’s commission because you’re selling the house. In a for-sale-by-owner deal, the seller has an asking price and can stick to it, and the buyer is responsible for paying their agent’s commission. Alternatively, the seller and the buyer’s agent can work out a deal.

Showings, repairs, offers that fall through, and months of uncertainty are all part of the traditional process.

The better the condition of your home, the more bids you’ll get and the easier it will be to justify the price.

Showings, repairs, offers that fall through, and months of uncertainty are all part of the traditional process. Selling your house to an iBuyer like Opendoor is a different approach to sell it that promotes ease and certainty.

how to utilize Opendoor to sell a house

You may get a competitive offer on your property with Opendoor and then move on your own schedule without having to advertise it on the market. This allows you to bypass a few of the steps in this tutorial. Opendoor makes a competitive offer on houses in good condition, unlike a home flipper who invests in undervalued homes to maximum price appreciation.

We charge a service fee that is comparable to the commission a real estate agent receives in a traditional sale.

Compare the costs of selling your house through Opendoor vs. a regular sale.
Step 2: Decide on an asking price.
Personal expectations and market conditions must be balanced when pricing your home. The way you price your house might mean the difference between getting an offer and sitting on the market for weeks or even months.

The worth of your home can be estimated using online tools. Manually selecting a few comparable homes, or “comps,” that have recently sold in your neighborhood is the traditional method for determining a home’s value. Finding a perfect match is quite tough, therefore you or your agent will have to make adjustments. For instance, if your home has three bedrooms and a comparable property has four, how much more would the comparable property have sold for if it had three? With things like pools, high ceilings, and a mountain vista, this becomes even more difficult.

calculate the cost of selling a house

Opendoor analyzes hundreds of comparable homes using current market data and information provided by the seller to make a real offer in just a few days.

Learn more about how Opendoor determines your home’s value.

Once you’ve determined the value of your home, decide if time or money is more important. If you want to sell quickly, you might price a home more competitively; on the other hand, you might choose to endure weeks or months of showings in exchange for a higher price.

The better the condition of your home, the more bids you’ll get and the easier it will be to justify the asking price.

Learn more about all the aspects you should consider when determining the value of your property by reading our in-depth blog post on how to determine the value of your home.

Step 3: Get your house ready to sell.

The better the condition of your home, the more bids you’ll get and the easier it will be to justify the price. Here are a few things you can do before showings to get your house in tip-top shape:

Declutter

Decluttering is the best method to make your home look clean, roomy, and ready for new owners, therefore it’s a vital part of preparing a property for sale. Consider your home from the standpoint of a visitor: does it feel spacious and welcoming? Clear the clutter from your countertops, shelves, closets, and corners. If additional storage is required to keep the home clear, think about it.

On a schedule? Read our comprehensive guide to selling your home quickly.

adorning your home in order to sell it

Decor

When it comes to selling a home, decor means keeping the space as neutral as possible – no quirky wall art or overbearing colors. Neutral colors, for example, provide a blank canvas for potential buyers to visualize themselves in the property.

Maintenance

Make a maintenance schedule so that nothing slips between the cracks throughout the stressful process of purchasing and selling a home. This ensures that your home is kept in immaculate shape until it is sold.

Make a maintenance schedule so that nothing slips between the cracks throughout the stressful process of purchasing and selling a home.

This covers lawn care, minor repairs, and annual maintenance such as cleaning the air filter in the HVAC system or flushing the hot water heater.

Step 4: Put your house on the market and put it on the market.

If you deal with a real estate agent, he or she will list your home on the MLS database and advertise it in the following ways:

Putting together professional images
In the yard, putting up signs
Organizing a broker/agent open house
Putting on an open house
When you select the for sale by owner option, the owner is responsible for all of the above. The most critical step is to get the house listed on the Multiple Listing Service (MLS), which feeds other real estate search engines.

How to sell a house with an open house

The majority of agents check the MLS for new listings on a daily basis. A FSBO seller will be able to list on the MLS for a set cost through a service.
Step 5: Give a tour of your house

The importance of showings in the selling process cannot be overstated. The more individuals who come to see the house, the more probable it is that you will receive an offer. Even though the timing is inconvenient, you may need to allow buyers to come through.

When it comes to showing your home, it means keeping it spotless, tidying on the fly, and quitting the premises so potential buyers can tour it without interruption.

Step 6: Evaluate and negotiate offers
If a buyer is interested in the property, he or she will submit a formal, written offer. For FSBO transactions, the buyer’s agent submits the offer to the seller’s agent or directly to the seller. The considerations below may be affected by whether you have one or numerous offers.

The most important things to think about when making an offer on a house is Pre-approval letter from the buyer and proof of money: An offer should include a pre-approval letter from the buyer and proof of funds. These documents are significant signs that your buyer will be able to receive mortgage financing and close on the home.

Closing costs: Buyers may request closing assistance, which is a predetermined monetary amount paid at closing to help with closing costs.

Concessions from the seller: Concessions from the seller are additional financial incentives that the seller provides to the buyer. Additional money for items like inspection fees, title insurance, origination fees, or homeowner association expenses for the first year might be included in seller concessions.

Cash vs. financing: An all-cash offer is more competitive in a multiple-bid situation because the buyer does not require bank financing. Closing can be completed in a matter of days without the involvement of the bank.

A buyer’s contingency is a condition in a home sale contract that stipulates that the buyer can only buy the house if their present home sells first. Many sellers will accept bids with purchase contingencies, but in a multiple-offer situation, an offer without contingencies is usually perceived as more competitive, because the sale of one home is not contingent on the sale of another.

Some buyers may require a longer closing date because they are relocating for work, juggling school schedules, or their offer is reliant on the sale of their current home. You may prefer a buyer who is better suited to your timeframe if you have other, similar offers.

Step 7: Accept the offer and complete the transaction.
Underwriting and due diligence

When an offer is accepted, the home is removed from the market and the buyer is given the opportunity to conduct due diligence on the property to confirm that they want to proceed with the purchase. The buyer must then acquire financing for the home after the due diligence period, which is known as the underwriting process. During this time, the bank will examine the buyer’s financials as well as the home under contract to confirm that the buyers are qualified for the loan.

escrow house – how to sell a house in escrow

Signatures on title and escrow paperwork are required.

You’re almost to the finish line. It’s now just a matter of signing your title and escrow forms. When you sign, make sure you have a valid photo ID with you. Documents proving that the seller now owns the residence will be recorded in public records once escrow closes. The money will be wired to you, and the transaction will be completed. Congratulations, you’ve made it this far.

Step 8: Relocate to your new residence

Many homeowners are unable to purchase a new house until their current one is sold. You won’t have to worry about contingencies or other issues if you sell straight to a company that buys houses with its own money, and you can start looking for a new home right away. If you’re banking on the sale to help you buy a new home, you’ll know exactly how much money you have to work with rather than guessing how much your current property will sell for.

The longer a house is on the market, the more hesitant purchasers become.

Sellers have a lot more unknowns with an agency or a for sale by owner method. In this case, you may want to start looking for a new house before your current one sells, which can be challenging because you may not know your exact budget or move-out date. Looking for a new house while selling one is also a lot of work. Of course, some people can afford to buy a new home before selling their old one, but this isn’t always the case.

How to Sell Your House Through Staging
Takeaways
At the end of the day, selling a house is all about figuring out what your priorities are and which selling approach would help you achieve them. One of the most effective ways to assist in the sale of your home is to prepare it for a great first impression.