A Guide For First Time Home Sellers
Is this your first time selling a home? Or maybe your first time selling one in a while? If so, you’re probably wondering about the steps to selling a house in 2022.
If you live in Rhode Island, The Nathan Clark Team can help you sell your home fast and for top dollar. However, it’s still a good idea to educate yourself so you can be prepared and know exactly what to expect.
In this post, we’ll go over a general overview of the home selling process, including the steps to take before reaching out to an agent, how to find a good agent, and how the process works once you find a buyer.
Things to Do Before Contacting a Listing Agent
1. Organize your belongings
One of the first steps to selling a house in 2022 is to figure out what to do with your belongings. Any non-essential items should be packed away and taken to storage, donated, or thrown away.
Decluttering will be important later when your home is featured in showings and open houses. It will also make your move much easier.
2. Take care of repairs, landscaping, and deep cleaning
Taking the time to make repairs or even add some new features to your home will make it more desirable to potential buyers. This ensures that you’ll get away with the highest amount of money possible.
You could even consider getting a pre-inspection for your home. During the home selling process, the buyer will conduct their own inspection of your home. Doing a pre-inspection ahead of time will make sure that no surprises will come up.
However, you can always wait to start working on repairs until you hire a real estate agent. An experienced agent can point out what needs to be done and can even refer you to recommended contractors.
Hiring a Real Estate Agent
3. Find a listing agent who specializes in your area
While it’s technically possible to avoid working with a real estate agent, it isn’t recommended. A professional agent who’s experienced in selling homes in your area can sell your house fast and maximize your profits.
They have the marketing tricks and tools it takes to properly advertise it, such as access to the Multiple Listing Services (MLS) database and a network of other agents they can share the listing with.
They also know how to navigate the laws regarding home sales in your state. As a result, they’re better able to handle any legal issues that may arise.
When interviewing agents, you’ll want to choose one who prioritizes your needs above their profits. Read testimonials from their previous clients.
Look at the agent’s history– how quickly do they sell their homes? Do they sell at, above, or below the original asking price?
During the interview, ask the agent what their commission is. If it seems high, consider what they can do for you. If they can get your home sold fast and for top dollar, it may be worth it.
Once you find the perfect agent, you’ll sign a listing agreement with them. This ensures you’ll work exclusively with them to sell your house. It’ll also outline all the fees and terms of the relationship.
Overview of the Home Selling Process – 6 Steps to Selling a House in 2022
So, how does the home selling process work? Let’s assume you’ve found the perfect potential buyer who’s willing to pay a great price for your home. Here’s how the process will go from there:
1. Buyer proves they’re serious
The buyer will make their purchase offer and may also choose to make an earnest money deposit. This is a check that the buyer gives to your listing agent or title company to show they’re serious about their offer. Negotiations can also be made during this time.
2. Buyer signs a contract
The contract is signed between you and your real estate agent and the buyer and their agent. At this point, you need to hire a title company if you haven’t already. Your real estate agent can suggest some options.
3. Buyer pays the option fee
Next, the buyer will pay you the option fee directly. This gives them a window of time to conduct their home inspection and evaluate the house. The fee is meant to compensate you during this period, which can range from a few days to a week. If the buyer finds anything wrong during their inspection, they may request you fix it or ask for a lower price on your home.
4. Title company inspects the title history of your house
Next, the title company you choose to work with will inspect the property’s title history to make sure there are no debts, back taxes, or other financial concerns. If the title is clear, the company will send the buyer a commitment to title insurance. As the seller, you will cover the cost of title insurance.
5. Buyer’s lender conducts an appraisal of the property
If the buyer is working with a bank or lender to help fund the purchase of the home, the lender will do an appraisal of the property. This is to verify that the value of the house is accurate. This ensures they’re lending the buyer the right amount of money.
6. The transaction moves into closing
Once these steps are completed, the house officially moves into closing! You’ll sign all the necessary legal documents, pay any closing costs, and hand over your keys. Then, the buyer will officially be recorded as the home’s new owner.
The Nathan Clark Team Can Sell Your Rhode Island Home
Live in Rhode Island and looking to sell? If so, Your Home Sold Guaranteed Realty – The Nathan Clark Team is the best choice to sell your home quickly and for the most profit.
Nathan and his award-winning team of experienced agents will take some stress off your plate by handling all the steps to selling a house in 2022.