“I want to sell my house. Where do I start?”
If you’re ready to jump into the home selling game and want to put your house for sale on the real estate market, you’ll need to know all the steps for completing a successful home sale in Pennsylvania. Here, we will cover where homeowners should start in the real estate selling process.
First, you will need to find a top real estate agent in Pennsylvania and then pick the right asking price for your residence. You may also need to decide on the right time to put your property on the housing market.
You might want to consider a For Sale By Owner (FSBO) home sale instead of working with a realtor. That way, you can save on the realtor commission fee. Another important aspect of selling a house includes home renovations.
You’ll also want to improve curb appeal by fixing the landscaping around your house. Home staging services can also improve interest from potential buyers. Lastly, you’ll need to cover closing costs and sign all relevant paperwork by the closing date.
Below, we go into greater detail discussing each of these steps. Ready to learn more? Let’s get started!
I Want to Sell My House – Where Should I Start?
Are you thinking, “I want to sell my house. Where do I start?” One of the first steps is to prepare your house for sale. That means you’ll need to declutter the home, complete upgrades, deep clean each room, and complete landscaping services. You can also hire a stager to stage the furniture. Afterward, you should get professional photos taken.
Things to Consider Before Selling Your House
Home sellers will need to consider whether to work with a listing agent or sell their property through an FSBO process to avoid the agent’s commission fee. Do you want to stage your own open house and market the home on social media, or do you want help from a good real estate agent?
You will also need to consider when to put your home on the market, as the spring and summer tend to have more home buyers.
Is Now the Right Time to Sell?
With the help of a realtor, you can get a comparative market analysis and decide whether it’s the right time to list your house on the local market. Is the current housing market great for sellers? With growing home prices and continual demand with low inventory, it’s currently the right time to put a home on the real estate market.
Do You Want to Move Elsewhere?
You will also need to consider relocating to a different town or state once you put your residence on the housing market. Do you want to move to a new neighborhood? Does your family need a change and your children would benefit from a better schooling system?
These are a few reasons why you may want to move elsewhere and put your home on the market.
Do You Have a New Property in Mind That You’d Like to Buy?
Is there a particular house you want to buy that was put on the real estate market recently? If you’ve always found this property intriguing and you’ve gone to a walk-through, you might want to put a bid in.
When you have a specific new home in mind, it’s time to enter the real estate market. You’ll need to get your home ready for sale while starting the process of buying a new house.
Determine Your Finances
To complete a real estate transaction, you will first need to determine your finances. You will need to work with your lender to first pay off your mortgage once the home sale is final. Also, you may need to get another mortgage loan for your new residence.
You may also need to cover the commission fee of the buyer’s agent as well as cover the down payment on your new place.
Determining Your House Value
You will need to decide on a home sale price based on the costs of similar houses in your neighborhood. You can determine the local market value of your home with the help of an appraiser. Most importantly, you’ll need to set a realistic price to attract buyers.
Local Comps – Prices and Value
Even in a competitive seller’s market, buyers are rarely willing to buy a property above the local comps or comparable prices of houses in the same neighborhood. You’ll need to look at the local comps to price your home correctly before putting it on the market.
Real Estate Market Research
While it may seem like a hassle, conducting real estate market research can help you determine the right listing price. As long as your buyers get the right first impression when entering your home and the purchase price isn’t too high, you can likely complete a successful sale.
Deciding Whether to Sell to a Cash Buyer or Use a Realtor
Would you rather get a cash offer from a home cash buyer and complete the sale without a listing agent, or use a realtor to handle much of the legal paperwork and find you a buyer? You’ll need to decide whether it’s more important to avoid the realtors’ commission fee and handle the sale yourself or get help from a real estate agent.
Benefits of Using a Realtor
The benefits of using a realtor include:
- Selling your home for a higher price than when selling via FSBO
- The knowledge of and expertise in the real estate market
- A higher likelihood of selling your house legally and avoiding risk
Furthermore, a listing agent knows the terminology in real estate transactions and can help negotiate the best terms for a sale. A realtor will also vet all potential buyers and check their mortgage loan pre-approval. Most importantly, realtors handle all the marketing of a home sale.
Benefits of Selling to a Cash Home Buyer
The biggest benefits of selling your home to a cash buyer include:
- Completing the home sale more quickly since cash buyers don’t need a loan
- Selling your property in its as-is condition without renovating
- Saving money on repair costs
- Avoiding a home inspection
- A much faster closing process
- Less paperwork to complete the home sale
- Fewer fees such as the realtor’s commission fee
Preparing Your Home for Selling
The first steps to preparing your home for walk-throughs and open houses include depersonalizing your place by removing photographs and heirlooms and decluttering the house. That includes removing excess furniture and donating extra gadgets or items.
You should also take part in needed renovations and repairs.
Renovations to Make On Your Home
You’ll need to make some essential renovations to increase your home’s value. The room remodels with the highest return on investment (ROI) tend to be kitchen and bathroom remodeling projects.
Repairs You Should Make
A few repairs you may need to make include replacing cracked floor tiles, patching holes in walls, and fixing leaky faucets. Do any doors or kitchen drawers get jammed? Then, you’ll need to fix those.
Repainting Your House – Worth It?
Painting the inside and outside of your house tends to cost less than other repairs and renovations. As such, the low cost makes it a worthwhile investment. When painting your house, choose neutral colors.
Closing a House Sale
Once your house gets bids, you will need to review and negotiate offers. You’ll have to agree to a home sale price and sign a Purchase and Sales agreement. You’ll need to sign various home sale documents, complete a home inspection, and cover specific closing costs, such as realtor fees.
The land surveying process involves getting deeds and other property information, completing a field survey, and resolving any boundary problems.
Getting Your Home Appraised
You will likely need the home appraised for the lenders. The mortgage lender for the buyer will arrange a professional home appraisal.
Selling a House Documents
The necessary paperwork for selling a house and closing on the sale includes:
- The original purchase contract for the home sale
- Tax documents
- Property survey
- Certificate of occupancy
- Home appraisal documents
- Home inspection report
- Homeowners insurance policy
Closing Costs and Fees
How much is the closing cost? The closing costs depend on the purchase price of the home. For example, realtor fees typically reach 5 or 6 percent of the home sale price. Also, you’ll need to pay the government transfer tax, attorney fees, recording fees, and any outstanding liens.
Now, you shouldn’t have trouble with a question like: “I want to sell my house. Where do I start?” The steps above should have explained exactly where to start when selling a house.
Yet, if you choose to work with a realtor, it may take longer to sell your property. Wondering how to quickly sell your house? You can directly sell to cash home buyers in Philadelphia for a quicker sale.
Sell a house fast in Pennsylvania by selling to real estate investors or cash home buyers. They can purchase your property in its as-is condition and don’t need to wait on a mortgage loan approval.
We buy houses Jenkintown locals adore, so contact us as soon as possible.