Selling a Home for The First Time: What to Expect

It’s a widely accepted fact that moving is one of the most stressful things that we will ever do in our lifetime. This is especially the case if you are a homeowner and you are buying or selling a property, particularly if it is the first time.

If you are putting your property on the market, you may feel a little overwhelmed about all of the different things to think about. Fortunately, we can help. Choosing a great realtor is one of the best ways to make sure that your home sale goes as smoothly as possible. Your realtor will be able to help you get an accurate valuation for your home, prepare it for sale and get the offers that you need to make your next property purchase a reality.

In the meantime, here are a few hints about what to expect the first time you sell a home.

Hire a Great Real Estate Agent

One of the very first things that you should do is to hire a realtor that knows the market in your area. Although some homeowners may be tempted to try and bypass this step (and the associated commission). The fact is that an experienced real estate agent is well worth their fee and more. Choosing a great agent ensures that your property is exposed to the broadest audience possible, is marketed to maximum efficiency and gets the offers that you need. They will also review buyer offers, negotiate with them and sort out the closing. In short, they will hand-hold you through the entire process, making everything much simpler and less stressful.   

Be Prepared for Additional Costs

Just like when you bought your first home, selling your home will also incur a variety of additional costs and you should factor them into your moving budget. They will include things like:
 

• Staging and prep costs
   

• Real estate commissions (usually in the region of 5-6% depending on who you use)
   

• Closing fees including title fees, escrow fees, property taxes, and more
   

• Seller concessions
   

• Moving and relocations costs

If you aren’t sure what costs to expect, speak to your real estate team.

Get a Pre-sale Inspection

A pre-sale home inspection is optional, but it can be a valuable tool in the run-up to selling your home. This is because a pre-sale inspection can identify any structural or mechanical problems before you list your home for sale. These issues could impact the sale of your home, so the inspection gives you time to get them sorted before you put your property on the market.

Make Sure Your Online Listing is Updated

Virtually all buyers start their property search online, but with so many homes listed, you need to make sure that yours stands out from the crowd. High-quality images are crucial, and you should make sure your home is properly prepared before they are taken. Depending on the services your realtor offers, they may also be able to upload videos and virtual tours which will give prospective buyers an even greater appreciation of what your home has to offer.

Get Support with Pricing Your Home

Pricing is often one of the most difficult aspects of selling a property as even in a competitive market, buyers don’t want to pay more than they have to. Again, this is where a realtor is worth their weight in gold, or at least dollars. An experienced realtor will know the market in your area like the back of their hand and will be able to use their knowledge to determine how best to position the pricing of your home competitively.

Choose the Right Buyer

The U.S. housing market is really strong right now, and if you live in an area with high demand and low inventory, it’s likely that you’ll receive a number of offers. However, the highest offer isn’t always the best one – there are various other aspects to consider, including:
 

• How the buyer is paying (cash versus financing)
   

• Type of financing
   

• Whether their mortgage is approved (pre-approval later)
   

• Down-payment amount
   

• Contingencies that they may wish to apply
   

• How quickly they can proceed and are able to close

If you aren’t sure which offer is right for you, your realtor will be able to guide you.

Selling a home for the first time can be a daunting process but using an experienced real estate agent can help minimize the risk of mistakes and increase the likelihood of a successful sale. Find out more by talking to Ed Prehoden in Del Mar, CA. Call 858-217-5400.