Selling your Raleigh home can be unnerving, especially because of the legal implications that come along with it. It requires that the whole process be foolproof so that you don’t start thinking of court cases thereafter, since there is provision for that. With this in mind, there are a lot of benefits you can enjoy when you are well prepared for the home selling process.
Different states have different legal requirements and in this post we shall focus on the process that can be applied in most states in America. Elizabeth Weintraub gives us a detailed procedure for the North Carolina home selling process :
1. Select a listing agent
This is the person that will be required by law to act in a manner that will be to your best interests.
Interview agents and meet with at least three neighborhood specialists.
Negotiate your listing agreement, including the length of time the home will be listed. Via The Balance…
2. Determine Your Home’s Selling Price
It is usually a tricky thing to price your home since you want to get as much value for your property and also not lose out on potential customers.
Price your home in line with sold homes identified in a comparative market analysis report.
Consider whether your market is hot, cold or neutral, and price according to the market temperature. Via The Balance…
Image Courtesy of Flickr
3. Prepare the Home For Sale
There are lots of things you can do to prepare your home, but the bottom line is to make it as appealing as possible.
Hire a professional stager to stage your home, or ask your real estate agent for help with staging.
Protect your privacy while your home is on the market. Via The Balance…
4. Advertising/ Marketing
This will require you and your agent to be very aggressive. Ensure you choose the best marketing method to capitalize on your home’s attractive features.
You or your agent should identify the sizzling selling points and choose advertising words to sell.
Approve your agent’s marketing campaign or figure out how to advertise your house for sale yourself. Tweak marketing to increase traffic and showings. Via The Balance…
5. Home Showing
This gives you the opportunity to make your potential buyers want to buy your house.
If you’re wondering about lockbox vs. appointments, you’ll get more showings if you let agents use a lockbox.
Your home will show better if you sell in spring than sell in winter.
Selling during the holidays will likely result in a lower sales price, regardless of what agents tell you. Via The Balance…
Image Courtesy of Pixabay
6. Properly handle purchase offers
Ensure that the right procedure is used here because this is where the legal stuff begins.
Consider making a counter offer contingent on buying a home, if market conditions warrant.
Don’t be afraid to make a full-price counter offer, if you are priced competitively.
If your home is priced right, prepare yourself for multiple offers. Via The Balance…
7. Escrow and Title Matters
Your agent or transaction coordinator will open escrow and order a title policy.
Write down the contact information for the closing agent.
Select a date to close based on when the buyer’s loan will fund.
Ask for a receipt for the buyer’s earnest money deposit. Via The Balance…
8. Get An Appraisal
This is done by the buyer and may have implications on your agreement as follows:
You are not entitled to receive a copy of the appraisal because you did not pay for it.
If the buyer decides to cancel the contract based on an appraisal, ask your agent or lawyer about your rights. Via The Balance…
9. Home Inspection
You can ask your agent for a checklist to help you prepare adequately for the inspection.
10. Get Required Inspections Done
There are inspections that are required in your contract and you need to be careful about them because they can be made public. Get reliable professionals to do this for you.
11. Do Your Due Diligence In Disclosures
Make sure that you disclose any information about your home apart from those required by law.
All homes in the United States are subject to lead-based paint disclosure. Via The Balance…
Image Courtesy of Pixabay
12. Repair Matters
Buyers may request for repairs to be made and you may or may not accept to do them; whatever decision you make has implications on the agreement.
Ordinarily, sellers do not need to accept a buyer’s request for repair; however, buyers can also cancel the contract.
You are entitled to a copy of the home inspection report if the buyers request repairs. Via The Balance…
13. Ask for Release Contingencies
In California, for example, contracts default to 17 days, at which time, the buyer must release contingencies. Via The Balance…
14. Sign Documents
In southern California, you will sign escrow documents shortly after opening escrow.
In northern California, you will sign escrow documents near closing. Via The Balance…
Your property deed, reconveyance and deed of trust will record in the public records.
The title company will notify you and your agent when it records the deeds.
Depending on buyer’s possession rights specified in the contract, you may be required to move on the day the home closes. Via The Balance…
Featured Image: Image Credit
Selling your house can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. But how do you price a NC house? These tips will guide you on how to price your home in Raleigh or Durham North Carolina for sale.