Selling a house can be quite tedious. As such, it would benefit one to know what to do in every step and what to expect. This guide is specifically on how to sell your home. The simple steps will help you get mentally prepared and be well equipped when you start the process.
At this initial stage, it is fundamental for you to think through some things. These will help you know which direction to take while selling the house. The questions you need to ask yourself include:
- Have you notified your mortgage provider?
- It is advisable to calculate with your mortgage provider the money you will be left with after paying off the mortgage?
- Do you plan to buy a new house before or after selling the house?
- Would you consider renting another house as you sell the house?
This helps to reduce the pressure to rush to get a less than perfect house after getting a buyer for your house.
2. Who will sell the property?
Some people decide to sell their houses by themselves. Selling a house is time-consuming and requires a lot of commitment by the seller. Additionally, some online advertising platforms are only open to real estate agents. If you decide to use a real estate agent, it is good to note a few things.
- Is the agent reputable?
- Do they have a high traffic of buyers?
- Are they proactive in advertising their properties?
- Is their fee reasonable?
These questions and more will help you identify a reliable agent who can help you sell the property quickly. An agent should also have high customer service relations. This is because you want a person whom you can do business with ease.
3. Pricing the home
It is advisable to get several agents to do a valuation of your property. Most agents do an assessment for free. To increase the value of the house a good agent should advise you on the things to take care of and how to present the property. For example, a well manicured landscape can greatly increase the value of a property. It is also advisable to increase the price with at least 5-10% because most buyers will negotiate.
4. Getting a solicitor
A solicitor or a conveyancer helps you to organize for the legal part of selling the property. Again a reliable agent should be at a point to recommend a trustworthy solicitor.
5. The contract
After getting an offer, you agree to, with the help of the lawyer, come up with the selling contract. The contract should include details such as the price agreed upon, any discounts and such. When you exchange the contracts with the buyers, you are both committed to it. Failure to commit to the contract could lead to one party suing the other.
6. Pay the Mortgage
After the buyer transfers the full amount to the solicitor, clear the outstanding mortgage amount. Finally, settle with the counsel and the real estate agent by paying off their dues. Remember that the solicitor should help you change the ownership of the house with the Lands Department.
If you are intending to buy a house immediately, using the same solicitor and agent might help you save time and money. When either buying or selling any property, it is advisable to do extensive research on the same. This will make you more informed even if the real-estate agent should help you with most of the processes.