Ask the Expert: What are The Steps Involved in Selling a Home?

Jean Watson
Manager, New Homes Division, Northwood Realty Services

Take a breath. The decision is made. You are going to sell your home. Now what? The first thing to do is to find a Realtor that will represent your best interests. You want someone who is on the same wavelength as you and someone who can get the job done. Your Realtor should advise you of tips to make your home more marketable and not be afraid to tell you the truth. (Does the front door need painted? Do the carpets need cleaned? What is that funny smell?). A pre-inspection can be a good idea because you will be made aware of any defects that may concern a Buyer. Home Warranty coverage can also benefit and include the Seller. Honest pricing is crucial to selling in a timely fashion. Your Realtor should be able to give you a market analysis to show you what price range your home should be listed. This price should be based on documented comparable sales in the area. How is your Realtor going to market your home? Signage and internet exposure are crucial in today’s market. When you have a potential buyer, it is important to know if they have been qualified by a reputable lender and not some unknown internet service that may or may not be familiar with our area. In Pennsylvania, sales agreements must be in writing or they are not enforceable. Your Realtor will be able to offer forms and advice. Are there contingencies? Do the buyers want home inspections? What kind of loan are they hoping for? This is by far the most important part of the sale. You may even want to consult your attorney. Finally, the closing company will wrap everything up by making sure the taxes are pro-rated and the title is clear so you can receive your proceeds. Good Luck!

ASK THE EXPERT ARCHIVE:
Should you get pre-approved for a mortgage? (6/6/2008)
What are The Steps Involved in Selling a Home? (5/30/2008)
Buying a Newly Constructed Home (5/23/2008)
How to select an agent? (5/16/2008)