When to Sell a Home: The Steps of the Process and How Long Each Takes
While there are no hard and fast rules for how long it takes to sell a home, there is a general timeline for each step of the process.
Step 1: Hire a real estate agent or REALTOR®
While a real estate agent is not required to sell a home, hiring the right agent can make the home selling process as smooth (and quick) as possible.
You can find a REALTOR.® It pays to do a quick online search but take the time to choose the agent that best suits your needs as a seller. The right REALTOR® It will help you decide on the best plan for selling your home and guide you through the entire process.
Talk to different agents to conduct research and see that their reviews can take 1-2 weeks, depending on how many agents you want to meet.
Step 2: List the property
You have now found or learned your real estate agent. How to sell your home yourself, you can now price and list your home. This, of course, requires some preparation. Before you list your property, you want your home to appear on the market, so any necessary repairs or preparations, including staging, should be done before listing. The effort is good because it can result in a higher asking price and even a faster sale.
yours Real estate agent During the staging process, you can schedule showings for potential buyers and list your home. The time of year will affect how long your home stays on the market, so they can advise on when it’s best to list your home. Preparation for listing and the start of listing can take 3-5 days depending on the condition of your home.
Step 3: Accept the buyer’s offer
Your home is listed and you just received an offer! what now
As the offers begin to come in, negotiations begin for the home’s final sale price. Your real estate agent can advise on what to consider during the negotiation process. You can accept, counter or reject the offer.
If you receive a lower offer than you want, there are other factors to consider besides price. Funding provisions, contingencies and loan pre-approvals are important aspects to consider in the negotiation process. Once you’ve established a price you and the homebuyer are happy with, you can accept the offer and take the next step in the process.
Time limit b Receive a discount Some contracts differ in that they have a time limit on how quickly each party must respond to the offer. If there is no time limit, it is considered common courtesy to respond within two days. Depending on contract deadlines and negotiations, receiving the offer may take a few days or even a week.
Step 4: Assess and inspect your home
Now that you’ve received an offer, you may feel ready to kick back and relax. But not yet – there could be a couple of delays ahead.
Problems may arise in Home evaluation And Home inspection procedures. An appraisal makes sure your home is worth what you’re selling it for, while home inspections check for any safety and foundation issues. If the home has multiple problems, buyers may walk away from an offer, or you may need to fix these problems before the sale closes.
Time limit b Home reviews And Home inspections Again, they depend on the condition of your home. The complexity of the evaluation depends on the duration of the process, which can take a few days or weeks. Similarly, inspections may only take a couple of hours to complete, but the writing of the report may take a day or two and amendments may need to be negotiated.
Together, both the review and inspection period can take a few weeks.
Step 5: Negotiate final terms with the buyer
The appraisal and inspection are complete, but now you and the buyer may have one last negotiation to make before closing. If there are contingencies based on the appraisal or inspection, be prepared to work with the buyer to negotiate repairs that need to be made.
Final negotiations should only take a day or two if done efficiently.
Step 6: Close on the sale
did you! do you have? Your home is closed And they signed over the house to the new owner. At this point, you will review and sign the closing documents and move out on the final closing date. The last stage is the shortest of the whole process, because the closing day should not take more than a few hours.