2 Minute Overview of the Home Selling Process

Selling your home can seem like a daunting task, but breaking it down into manageable phases can make the process more straightforward. Here’s a quick two-minute overview of the four primary phases of selling a home: Preparation, Listing, Under Contract, and Closing.

1: Preparation

This is where your journey begins. The preparation phase involves decluttering, cleaning, and potentially staging your home to make it as appealing as possible for prospective buyers. It’s also the time to make any necessary repairs or upgrades that could increase your home's market value. A crucial part of this phase is selecting a reliable real estate agent who can provide valuable insights and market your property effectively.

2: Listing

Once your home is prepped and ready, it’s time to list it. This involves setting a competitive asking price based on a Comparative Market Analysis (CMA) conducted by your REALTOR®. High-quality photographs and a compelling property description are essential for attracting buyers online. During this phase, your agent will host open houses and private showings to generate interest and solicit offers.

3: Under Contract

Once an offer is made and accepted, your home is officially under contract. This phase includes negotiating any contingencies that may arise during a home inspection or appraisal. Stay in close communication with your real estate agent and be prepared to negotiate repairs, credits, or other terms. This is also the time when buyers will seek financing and get their loan approved.

4: Closing

The final hurdle is the closing phase. Here, all the agreed-upon terms are finalized. You'll sign the deed, transfer ownership, and the buyer will sign the mortgage documents. Closing costs, which can include agent compensation, title insurance, and other fees, are settled. Once everything is in order, the transaction is complete, and you hand over the keys to the new owner.

Navigating the home selling process can be streamlined with the right preparation and expert guidance. With these four phases in mind, you’ll be better prepared to sell your home successfully.