No matter whether it is your first time selling a house or second time selling a house, there are certain steps that you need to follow. The home selling process tends to be the same. Only certain details vary depending on the state you live in. This post takes a closer look at the steps involved in selling a house fast in Indianapolis.
- Select a Listing Agent
The first thing that you need to do when selling your house is selecting a listing agent to represent you. The listing agent has a fiduciary responsibility to keep your best interests in mind. Do not choose the first agent you meet. Instead, you should interview a few agents before you make a final decision. Hire someone based on their experience. Ask them about the listing agreement including the commission you would be required to pay and the length of time the house would be listed. It is not necessary to hire a real estate agent to help you out.
- Determine the Price of the House
Next, you need to find out how much your property is worth. The worst mistake that you can possibly make is overpricing the house. It will deter potential buyers from taking an interest in your house. Make sure that the price of your house is in line with similar houses sold in the market. Price the house accordingly.
- Prepare the House for Sale
To get prepared to sell your house, you need to clean it and declutter. Improve the curb appeal to fetch a higher price. A great tip that will help you sell your house is by hiring a professional stage to stage the house. Make sure to get all necessary repairs done. A seller’s inspection might also prove useful as it would help ensure that potential problem areas are identified early on. Temporary living arrangements might need to be made if you have pets. Since you only get one shot at making a first good impression, make it count.
- Market the House
To best market your house, you need to identify the best selling points of the property and use the right advertising words to translate them into words. Evaluate your agent’s marketing campaign or find out how you can advertise the house on your own. A virtual tour company can come in handy as it would take quality pictures of the house and create a virtual tour online for interested buyers. You need to confirm that the listing has been posted online. The internet market has grown significantly over the years and most sales are done online. Therefore, invest in marketing the house online.
- Show the House
When it comes to showing the house to others, you have to ensure flexibility. Some buyers can only visit your home during a weeknight right after work, while others can only see your house during the weekend. Thus, you will need to be accommodating. Do host an open house for potential buyers to come and see your house in person. Always ask for feedback.
- Receive Offers & Negotiate
Once you have shown the house to prospective buyers, you will start to receive offers. Then, you will need to negotiate accordingly. Be prepared to receive many offers if the house has been priced right. Even if an offer seems too low, do not ignore it. Negotiate with potential buyers by making counteroffers. If the house has been competitively priced, you should not be afraid about making a full-price counter offer.
- Open the Escrow Account & Order Title
If you already have a transaction coordinator or agent, they would open an escrow for you and get a title policy. Provide the contact information to the closing agent and choose a date for the closing. Make sure to request a receipt of payment from the buyer once they have made the deposit.
- Schedule the Appraisal
Before the appraiser comes, thoroughly clean the house. Do not be afraid to ask for alternatives from your agent if a low appraisal is received. Keep in mind that you are not entitled to get a copy of the appraisal as you did not pay for it. Know about your rights in case the buyer decides to cancel the contract after the appraisal.
- Seller Disclosures
A seller’s disclosure form has to be filled out by you if you are aware of any material facts or problems concerning the property. The title company will provide the buyer with the CC&Rs (Covenants, Conditions, & Restrictions) for the homeowner’s association or community, if required. Remember, all houses in the United States are subject to disclosures concerning lead-based paints, even those that have been built after 1978.
- Ask the Buyer to Release the Contingencies
If there are any contingencies mentioned in the contract by the buyer, ask to have them released. It means that they have been resolved. If you do not demand the buyer to provide the contingency release, they are not obligated to do so. However, in some states, you can even cancel the contract when the buyer does not provide a release.
- Sign the Escrow Documents and the Title
Based on where you live, you might be able to sign the escrow documents right after the escrow has been opened, or you would need to sign them near to the closing date. Ask your agent if it is possible for everyone to sit around the table as it is common is some states. Do bring your valid photo ID along.
- Close the Escrow
Finally, once you have signed all the paperwork and handed over the keys, you can close the escrow. You will need to move out the day of the closing or in advance depending on the rights of the buyer. The requirement will be clearly mentioned in the contract. Once everything is done, the sale proceeds would be sent to your bank account after repair credits, agent commissions, and other fees have been deducted.
The steps mentioned above should be considered when selling your house. They will help keep everything in track so that you can sell your house fast. If you do not have the time to wait around, you can sell your house to us as we buy houses in Indianapolis.