The Process of Selling a House in Henderson, Las Vegas, and Boulder City
The process of selling a house may seem stressful, but it can be laid out in some very simple steps. If you follow these steps to protect yourself in the sale of your home, you will avoid as many stressful situations as possible and ensure that once escrow closes, you will not have to worry about the home you’ve sold again! Below is the process of selling a house, if you have any other questions that aren’t covered below, please contact us at 702-509-1446 for free, professional real estate related advice!
Contact a licensed real estate agent
There are many reasons why a homeowner would want to sell their home. Many homeowners want to get their home fast with as little effort on their part as possible, others need or want to get their home sold for top dollar and will have to put in some work to fix up their home. By contacting a real estate agent, you will have help determining what you need to do in your current situation. Your real estate agent will also help you develop a selling strategy and provide you with current market statistics that will help you make an informed decision about when to sell your house, what you need to do to your house to get it market ready, and when you should put it on the market. This should be your first step in the process of selling a house as it will help you get on track and acquire realistic expectations.
Make a to-do list
After talking to a real estate agent (you can interview multiple before you settle on the one you want to sell your home), make a list of what you need to do to get your home sold. Most likely you received this information from your real estate agent, but making a to do list will help you prioritize and get things done. If you are not able or willing to do anything to the current state of your home, you may have to settle for a lower sale price. Doing a few things in the beginning steps of the process of selling a house will help you have a smoother home selling experience.
Depersonalize and declutter
To depersonalize your home, you will need to pack up the items in your house that are “specifically you” – photos of you and your friends or family, “quirky” art pieces, and homemade items should be among the things packed up to depersonalize your home. Depersonalizing your home helps buyers imagine the home is theirs when being shown your house. If a buyer walks into a home with many photos of people they don’t recognize, it may be hard for them to think about the home being theirs and may make them uncomfortable as they realize they’re walking through a stranger’s house. As you are depersonalizing your house, you may at the same time be decluttering. You want your home to seem larger and taking out temporary unnecessary furniture pieces such as side tables or foot rests can really help with making the space seem larger. If there are kids in the household, you will want to pack up as many toys as possible as well, at least while the house is being shown. This will help the home seem cleaner and may attract more buyers interested in paying top dollar.
Scrub every surface
You will want to make sure your house is spotless. Hiring a maid service if you are not up to the task yourself will make you money in the end as a clean house can make several thousand dollars worth of difference. If you are doing the cleaning yourself you may want to invite a few fresh pair of eyes over to help you with the process as you may be use to certain things in your home that need to be cleaned or removed. Making sure the home is clean will help buyers not to run away from your home.
Staging your home
This will depend on what you need out of the sale of the home as staging a home can get pricey. You will want to ask for your real estate agent’s advice as many times cleaning and decluttering is enough. There are professional staging companies, but you may be able to stage your home with what you already have. You may want to pick up a few home magazines or search the internet for the newest trends and try to accomplish a modern look with what you have. This may mean painting a few pieces of furniture or reupholstering a couch or a set of chairs. As stated above, this step in the process of selling a house may not be right for you, so be sure to ask your agent for their expert advice!
List your home on the MLS
After you have decluttered, cleaned, and depersonalized, you will want to get your home listed! This will require signing several documents from your real estate agent and contacting your mortgage lender to see how they go about having the mortgage paid off. Once your home is listed on the MLS by your real estate agent start to expect showings! If your home is not getting viewed by potential buyers, you may want to meet back with your real estate agent after a predetermined amount of time to discuss how to proceed with the sale of the home. You may also want to share some of your real estate agent’s marketing on your social media so that you can reach more people with the news that your home is for sale.
Be ready for showings
After your home is officially for sale, you will have to be careful to try and keep your home clean and decluttered. You may only receive an hour or so of notice that a buyer is on their way to view your house so make sure whatever clean up required will only take a few minutes. You may want to keep a few empty boxes around that you can throw all your loose stuff in and hide in your garage or closet.
Accept an offer
Once you begin to receive an offer or multiple offers, you will have to decide which one to accept! With each offer you will be able to counter the offer. You can also reject offers if they do not meet all your requirements. Be sure to keep track of the offers you do receive as it will help you determine what people are willing to pay for your home.
After you accept an offer, you will begin escrow! The buyer will send an Earnest Money Deposit to the escrow company decided in the purchase agreement/offer. This Earnest Money Deposit is to ensure that the buyer is genuinely interested in the home and if they cancel for any unexplained reason, you will be reimbursed by the Earnest Money Deposit.
Home Inspection and Appraisal
During the escrow process the buyer will most likely hire a home inspector to inspect the entire house to look for any damages to the home. This will help the buyer make an informed decision about buying the home and and may ask you to repair a few items before moving forward with the sale of the home. It is during this time period in the process of selling a house that the buyer can back out of the sale if they find something wrong during the home inspection. If the buyer is using a mortgage to pay for the home, the lender will have an appraiser come to view the home and determine the current market value. This value is what the lender will determine how much money they are loaning the buyer for the purchase of the home. The buyer may also want to renegotiate after the appraisal if they deem the home is worth less than the current offer/purchase agreement between you and the buyer.
Before escrow closes, you will want to make sure your agent has no more documents for you to sign, you have an appointment with your title company to sign their final closing documents, and make sure that the title company and your current mortgage lender are in communication about transferring enough money to cover the remaining balance on your home. The buyer will do a final walkthrough to make sure that there were no damages while you moved your things out and to make sure everything in the home is still working. If they do find something that is wrong with the home that wasn’t found during the home inspection, they can ask for money to cover the repairs that will need to be made. If at any time during the process you do not want to negotiate, you don’t have to, but you may lose your buyer. Having a real estate agent during this step in the process of selling your home is key as they can ask the buyer’s agent questions to get a feel of where the buyers are at… are they flexible? Do they have enough money to fix certain things themselves? Answers to these questions will help you during the sale of your home.
Sign the final documents and hand over your keys
After you sign the final documents, the funds will be transferred to pay off your mortgage, your real estate agent and the buyer’s agent, the title company for closing costs, and then you! You will need to hand over the keys and the title company will send in the closing documents to the county to get the home out of your name and into the new owner(s)’s names. Funds may take up to a week to transfer to your bank, but after that you are done with the sale of your home!
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