You love your home! It has served your family well for years, but it's time to move on to a bigger, better home.
But, before you pack your moving truck, you need to sell your current home. You aren't alone either!
The housing market has enticed many homeowners to sell. Back in April, the number of homes sold in America was already up 12.4 percent from last year!
But wait, what steps do you take to sell your house without getting a realtor involved?
Don't panic! We put together a list of steps to selling a house by owner. Keep reading to learn everything you need to know before you put your house on the market.
Should You Sell Your Own Home?
Yes, you can save thousands of dollars in real estate fees. But, those real estate agents have knowledge and experience (that you don't have) that helps move residential properties fast.
That doesn't mean that you shouldn't try to sell your home yourself, as long as you're willing to put in the work.
Most first time home sellers should hire an experienced realtor to assist, but if you have your heart set on doing it yourself, make sure you do as much research as possible before you jump in.
Besides, if you feel like you're in over your head once your house is already up for sale, you can hire a real estate agent to take over (or consult with you) from there.
7 Steps to Selling a House by Owner
Everyone's situation is different when it comes to home sales. This means the steps one needs to take to sell a home by themselves vary from person to person. Use these steps as a framework to help you along the way.
1. Do Your Research Well in Advance
Months before you put your home on the market, you should do tons of research so you have some of the information the real estate agents do when they sell homes.
Real estate agents go to school to learn all about the housing market and how to buy/sell homes. Since you don't have those classes to learn from, you'll want to turn to professor Google.
Another thing you'll want to do is crunch the numbers and figure out a ballpark estimate for the fees and transaction costs you'll need to pay before the final closing. That way, you aren't surprised by fees later with a buyer on the hook.
2. Inspect Your Home From a Buyer's Perspective
When you love a house and you see it every day, you may ignore or not notice little imperfections and quirks that potential buyers will see as soon as they walk in the door. Take a walk through your home with fresh eyes as if you were going to buy it. Look for damages or upgrades that will increase the value of your home.
If you are unsure what to fix, you could hire an inspector to list all the repairs you could make and decide which ones will give you the best return on your investment.
3. Decide on an Asking Price (And Your Lowest Acceptable Price)
This part is one of the most difficult for homeowners to do without a real estate agent. You need to look at the facts and not allow sentimental value to set the price of your house.
Look at similar-sized homes that others have sold near you in the past few months because those selling prices will give you a good idea of a reasonable asking price. To be extra sure you have the right number in mind, get the house appraised by a professional.
4. Prepare Your Home for Showing
The first thing you want to do is declutter and clean everything. A cluttered home will not sell! If you need to, rent a storage unit to store your excess belongings.
Also, refresh the landscaping, especially in the front yard. First impressions are important and the curb appeal is the first thing a buyer sees.
5. Put Your House on the Market
Put out ads in as many places as you can, because online ads are great but many buyers still use the old fashioned print ads.
Once you get some good buzz going about the sale of your house, organize and open house or two to bring in and grab the attention of many potential buyers at once!
6. Negotiations and Accepting an Offer
Don't snap up the first offer you get if it is well below your asking price. Try giving them a counteroffer and negotiate a price that makes everyone happy!
Who knows, you could get another offer for more money if you hold out a few more days!
7. Paperwork and Closing the Sale
This part is the most complicated because of the legal forms involved. If you feel at all uneasy at this point, bring in a real estate agent to help out.
The buyer will want to do an inspection and/or appraisal of their own before signing the final documents. Be sure to cooperate with those assessments so as not to delay the sale.
From "for Sale" to "Sold" in a Flash!
Once you are familiar with the 7 steps to selling a house by owner, you're ready to begin! Think of this as an adventure as exciting as buying a new home!
There are tons of tips and tricks for selling your home fast, like staging your home instead of leaving your belongings in place. Ask your friends and neighbors who have sold a home before to see what they recommend.
We hope you enjoyed reading this article and that you learned a thing or two about how to sell your house without the help of a realtor. If you need more real estate information or financial advice, check out the rest of our blogs today!