Welcome back to #FabulousFriday! The market has been really interesting during the last few years and houses in many areas have been listed one day and gone the next! In fact, in many locations that is still the case. However, in some areas, the market is beginning to cool down. Therefore, sellers would be wise to turn their attention towards the top tips and tricks to selling for top dollar. Even during a red hot market, it can take several months to make the necessary repairs and get the property ready to list. Here's the typical home selling time-line:
1) Make repairs. Between two weeks and several months. It depends on supply chain issues-contractor availability and factory delays. Small items, such as painting or cleaning can be done in a weekend, but upgrades to roofing, air conditioning/heat and plumbing can be time consuming. Best to get estimates and get those items on the schedule sooner rather than later.
2) Find a real estate agent. Two days to two weeks. Finding a listing agent can be as quick as a phone call, or as lengthy as two weeks. Picking the right listing agent takes time. It is important to find an agent that is up to date on market trends and keeps their training and education on point. You might even find it best to consult an agent before beginning repairs. Their expert guidance could save you time and money.
3) Estimate how much your home is worth. One hour to one week. Pricing your home correctly requires experience and expertise. A real estate pro will provide you with up to date market data and comparable properties for sale in your area. An automated online estimate is no substitute for an experienced real estate agent. Remember, real estate is a local business. National data is not a substitute for a local market expert's guidance and savvy.
4) Declutter and stage your home. One hour to one week per room. Remember, your home is now your show room. Decluttering takes an average of one week per room. Ideally, you should start well before you decide to list your property. Not all sellers decide to stage their home, however it is a proven method for gleaning top dollar and to sell a home fast. Your agent can provide you with guidance and insight.
5) Listing. One hour to two weeks. An experienced real estate professional will guide you through the process and paperwork in a couple of hours. Then, they will set up professional photos. One of the things that can slow this down is if repairs are still ongoing, or the home needs cleaned, decluttered or staged.
6) Waiting for offers to roll in and negotiating the deal. Two days to a month---or more. In a hot seller's market, entry level homes go quickly and may have multiple offers by the end of the first weekend on the market. Higher priced properties take longer to sell.
7) Accept an offer and wait for the home inspection and appraisal process. Typically three weeks. Accepting an offer can happen pretty quickly. Getting inspectors lined up, repairs estimated and negotiated takes a bit more time. It is best to plan accordingly.
8) Closing. Typically 30-45 days after the inspections are complete. Cash offers can close more quickly-in as fast as 10-14 days. As a whole, sellers should be prepared for at least a month between contract ratification and closing.
At Shaffer Realty and Real Estate-we have experts agents who can help guide you through the process and get you smoothly to the closing table. Reach out to one of our friendly knowledgeable agents today. See you soon! Warmly, Susan