The prospect of selling your Washington, DC condo may sound like a daunting one, however when broken down into multiple, manageable steps, the process can actually flow quite smoothly. A savvy real estate agent is the best resource to guide you throughout the process, however, if you’re in the preliminary stages, here is a basic breakdown of the steps to prep and sell your home, just to give you an idea of what to expect.
As hot as the condo market in the Washington, DC metropolitan area is, it’s always a good measure to thoroughly prepare for your sale so that you get top dollar for your home and nothing holds back the sale. When contemplating your home sale, be sure to check with your home owners’ association or condominium board about any specific regulations on buying and selling within your development.
One of the first things you’ll want to determine when selling your home is how much you should sell it for. A real estate agent can provide market analysis and other information in addition to any research you may do on your home in order to price your home for an appropriate amount for you and the buyer. Find out what your condo is worth with a free estimate.
Once you’ve established a price, it’s time to prep your home for viewing. This involves deep cleaning and depersonalizing your home so that potential buyers are looking at a blank slate that they can imagine themselves moving into. Most real estate agents can give advice on staging your home to show it at its maximum potential.
Once your condo is picture perfect, your agent will have it photographed and written up for the MLS listing page. When this listing goes live, your home is officially on the market and your agent will then go to work marketing your home to as many potential buyers as possible.
Throughout the time your condo is on the market, agents will be wanting to come through with home buyers for showings and possibly open houses. During this process, it is imperative that you do your best to keep your home show-ready so that it appeals to the right buyer as quickly as possible.
When an offer is made on your condo, your agent will give you a chance to thoroughly review the offer and will coach you through any negotiations or counter offers you may want to make. Upon an offer being made that you simply cannot refuse, you can accept and the transaction process will begin.
When an offer is accepted, the listing agent will prepare a memorandum of sale, which puts in writing the agreed upon price for all involved parties. After a contract is written up, your agent will work with you to get your inspection, appraisal and all other contingencies met, while the buying agent will do the same. The buyer will also make a deposit on the home and a closing date will be established that allows both parties enough time to meet their ends of the deal.
At the time of closing, the buyer will have one final walkthrough of the condo. Both you and the buyer will sign all of the necessary paperwork to complete the transaction and the title and keys will be transferred from you to the buyer and the remaining funds will be transferred to your account.
If you are interested in selling your Washington, DC condo, allow me to be your guide throughout this process. Give me a call today!