First Time Home Seller FAQ
The process of buying a home for the first time can be overwhelming, but first-time home selling can come with a fair amount of challenges. You’ll need to make sure your house is in the best possible condition, handle all the paperwork, usually while juggling a move. When selling your home, preparation is the best way to begin.
How Do You Sell Your Home Fast?
The first step to selling your home fast is to be prepared before you list your home. Declutter your home and make any necessary major repairs. If it’s a buyer’s market, you may want to make some upgrades to enhance your curb appeal because first impressions can make or break a sale. Get your home appraised and find an experienced, local real estate agent. Your agent will help you determine a listing price and help you stage and photograph your home. Once your home goes on the market, your real estate agent will handle all the details of showing and marketing your home. Pricing and staging your home correctly right from the beginning is the best way to sell your home fast. You don’t want your listing to sit idle on the market because you’ve overpriced it or it doesn’t show well.
Do I Need a Real Estate Agent?
While it is possible to sell your home yourself, it isn’t usually recommended, especially if you’re a first-time seller. A real estate agent has the knowledge and experience necessary to sell your home fast for the best possible price. Your agent will handle many of the logistics that go into selling a home and they know the market, which will be very helpful to you as the seller. Your agent will help you price your home correctly and will be able to gauge offers carefully to discern the right buyer. Your agent understands how to negotiate and what to expect through the entire process. Although the 5-6% commission can feel like a big dollar amount, remember that this is a significant transaction and having an expert to help is well worth the investment.
How Do I Choose an Offer?
Your agent is required by law to disclose all offers to you, even those that are low, or those that your agent may consider risky. You may also be in the lucky place of having several offers to choose from. How do you decide? Think about your own finances and how much you’ll need to make to pay off your own mortgage, as well as cover the commissions and fees required. If you are looking at several offers, consider how well prepared each buyer is with their financing and if they have any contingencies that could slow down the process. Your agent can guide you through the process, but ultimately, the decision is yours.
How Much Money Will We Keep After Selling?
It depends on how much you have left on your mortgage. Once your home sells, you will use the purchase price to pay the seller’s and buyer’s agent commissions (usually 5-6% total of the purchase price), fees and taxes from the transaction, and the remaining mortgage balance. Anything left after those payments is your profit. Most people will use that profit as a down payment on their new home, but that profit is yours and can be used for anything.
To sell your home fast, start by reaching out to an experienced agent in your area. They are experts in guiding you as you prepare your home to sell. Have a good idea of your finances, get your home in good shape, and trust your real estate agent through the process. If you’re in the area and thinking about selling your home, contact Amberwood Real Estate to talk about what to expect throughout the process. Selling your home for the first time is an exciting time, and we can help you sell fast for the best price.