The process of selling a home

Hopefully, you only have to sell a home once in your life. If you have found yourself in a situation where you are selling a home, then you may be researching how the process works. From start to finish, it can be challenging, mainly depending on the route you decide to sell. In today’s real estate market, you find yourself with the ability to trade using many different methods. 

The national association of Realtors¬© was founded back in the early 1900s. They always used to handle the sale of any type of property. In the early years of the United States of America, you found that the transfer of land was either granted or passed down among heirs. There was not much of a sale. People would even barter for homes for goods. In today’s world, we usually exchange deeds for significant money. If you read this article, we will help explain how each method’s process works. 

Selling your home using an agent 

This is the oldest, most effective method of selling a home. Everyone will contact a local real estate agent when they decide to sell a home because each agent goes through months of course training and testing to be approved by their state. They are deemed to be experts in their local market. If plenty of transactions are done in your area, they can assess your property at the correct value. 

  1. You contact them, they set up a time to meet with you. 
  2. You sign an agreement to list your home.  
  3. They hold open houses and market your property on (MLS)
  4. Inspections
  5. closing

In step one, they will try to explain why you should use them as the real estate agent to sell your home for you. It is always a friendly no, cost appointment. They will sit down with you and talk about previous sales they may have accomplished in your area. It is your opportunity to ask questions and voice any concerns. Once you get the opportunity to get comfortable, they break out their analysis of how much your home will sell for on the market. 

Step two consists of all the paperwork attached to the listing agreement; depending on the state, it is roughly 10 to 14 pages long. It allows them to market your home for you in return for a percentage of the sales price. That price is usually between 5% and 6% of the sales price of your home. 

Step three, each real estate agent will market your property differently than others. Some will put in more work than others. But when it comes to marketing, each agent has access to a vast database network such as MLS or Multiple listing services. They blast your property out to every local agent. That way, they attract as many buyers as possible. It allows for your home to get sold quickly. 

Step four is tricky regarding getting your home inspected. The inspector will go above and beyond to find problems in your home. Unless you are handling an as-is sale, you must get an inspection done. When the report returns, the buyer’s agent will ask for a price reduction to accommodate the problems they find in your home. Or even worse, they may ask you to fix the problems in your home yourself. Which in the end only costs you time and money. 

Finally, the last step in this process is making a settlement. It is always the happiest day for both parties in the transaction because. One is making money on the sale of their home, and the other is hopefully receiving the home of their dreams. 

Selling Your Home AS-IS

After reading about how selling your home using an agent works. It is time for us to finally talk about selling your home as-is. Most people wonder how much they lose selling their home as-is. The truth depends on how you look at or the condition of your home. You technically do not lose money selling your home this way. This process consists of three easy steps. 

  1. Contact the company
  2. Agree to a sales price.
  3. Schedule closing

In the first step of selling your home using this method. You can find one of these companies through a quick Google search, or if you own a home in a desirable area, they will likely reach out to you. People are concerned when selling their homes to these companies because they usually don’t know much about the company. You should be able to find an online presence if they’re a legitimate company. Their contracts or sales agreements are usually short and straightforward. They consist of two pages stating they are receiving the home as-is. 

Most of the time, homeowners have their minds on a price they want to sell their home at. You can always ask these companies for an offer if needed. They typically use the same site real estate agents use to assess the home. The only difference is that they will pull sales based on cash sales in the area, usually less than a traditional non-cash home sale. But the huge advantage is you do not have to make a single repair. These home buyers will purchase your home fast and easily. 

Finally, these companies will work on a date that best fits your time frame. The scheduled closing is usually 7 to 21 days, much quicker than selling your home using a real estate agent. The sale using an agent requires at least 45 days if you find the right buyer instantly. 

It depends on what you are looking for

Now that we have broke down each home sale process and how it works. It is up to you to decide what you want to do. If your home needs work or you want to sell promptly, we recommend you use a cash home buyer. If your home is in great shape or has been worked on recently, we recommend using an agent. Whichever route you prefer, you just now know how each process works.