When you bought your first home, it was likely an overwhelming experience. Now that you’ve owned it for a while, you probably think you’re better prepared for the selling process, right?
Think again. The selling process is fraught with many steps that can be confusing and frustrating – and maybe even more overwhelming than buying the home in the first place. Below, we discuss several things you can expect when selling your home.
1. You Must Declutter Your Home
Many people don’t realize just how much their stuff impedes the sale of their home. Clutter not only makes a house look shabby, but it can also make rooms look smaller, too. To help get your home ready for the market, you need to get rid of all the unnecessary stuff sitting around on your flat surfaces.
For example, in the kitchen, clear away anything on the countertops that shouldn’t be there. You want buyers’ eyes on those marble countertops, not your coffee mug collection.
2. Don’t Think Those Upgrades Will Equal Dollar for Dollar Cash Back When You Sell
While it’s always a good idea to make upgrades to your home when you know you’re going to sell it, don’t expect to get every penny back when you do. For example, cherish the memories of drinking margaritas by that inground pool because you’ll only see about half of its cost in terms of added value to your home when you sell.
3. Closing Can Take a Month or More
On average, it takes about 46 days for a home closing to take place. During this time, you and the seller will go through several steps that seem to take forever and delays do happen. Survey issues, loan delays, and title issues can all affect how long a closing can take. If the buyer is paying cash for your home, the closing may move along faster.
4. Planning Your Move Can Be Tricky
Many people wait until the last minute to secure housing when selling their current home. This can leave you with no place to live if your home sells quickly and you haven’t made appropriate accommodations. Will you purchase a new home, rent a temporary residence, or perhaps rent your current home from its new owners until you find your next residence? Whatever the case, you should secure housing before putting your home up for sale.
5. The Buyer Has Leverage
When the home inspection report comes back, you can expect the buyer to use it as leverage to get a better deal on your home. Even though you’ve already accepted their offer, the deal isn’t set in stone, as the buyer often includes a contingency that depends on the results of an inspection. If you want to get ahead of the game and any necessary repairs, you can opt for a pre-sale inspection to identify any issues before buyers come into the game.
Selling a home is a complicated process, and these are but a few of the things you can expect when you sell your home.