Selling Your Home: The Finish Line
Not sure where to start when selling your home? Check out our other guides to listing your home, readying your home for sale, and preparing for open houses.
Your home is tidied for showing, listed on the market, and waiting for offers. What’s next for a seller when putting your home up for sale? After your Realtor has arranged for professional photos and advertised your home for sale, allowing online shoppers to get a great first look, the waiting game begins. Sellers can expect regular showings of their property in combination with an occasional open house to attract potential buyers to take a closer look.
If you aren’t getting any interest in your home as-is, it may be necessary to adjust your expectations for selling your home. Major repairs may be needed before a sale can be secured or else prospective buyers may insist on a very substantial cut in the price. In the meantime, the roof will almost certainly have put off many other potential buyers. Be aware that any other major problems will likely be flagged by inspectors, so you're taking a big gamble by hoping that nobody will notice leaks, mold, or other persistent issues.
If you are fortunate enough to have offers coming in for your home, you will need to evaluate them quickly and be ready to make decisions. It’s a good idea to set out and discuss a baseline price with your Realtor that represents the lowest value you’d sell for. Have a target price in mind that should be your goal for the sale and seek out professional advice to achieve this goal. Any offer that matches or exceeds the target should be strongly considered, as waiting can be costly and cause buyers to drop out.
Beyond the offer price itself, there may be conditions attached to the sale that you will want to review. Remember to look at the overall offer package, and not just the price. Any conditions can be modified through a counter offer, so clearly communicate your needs to your Realtor for potential negotiation. You should only accept the deal when you are comfortable with every aspect of it.
Once you have an offer in hand that you are comfortable with, you can instruct your Realtor to accept the offer and move toward closing. There’ll be certain requirements (a home inspection, for example) which will need to be met during this stage. However, as long as all conditions are met successfully, and the buyer is able to produce the funds on the closing date, your house will have been successfully sold.
Now that your home is sold, it’s important to establish a timeline for when you need to be completely moved out of the home. Pay attention to possession dates to ensure you have access to your new home before you need to move out of your current place. If your dates do not overlap, you may need to look at rental storage space in which you can keep your things until your new home is available.
The costs of moving, holding multiple properties, and fixing up a property for sale can add up fast. Make sure to save room in your budget for these extras that may end up being necessary in your quest to sell your home for its true value. Be ready to compromise and work hard during the process to get a full return on your investment.
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