Step 1. Deciding to sell -Consider what is happening in the broader market and what is best for your particular situation. Also decide if you are better off buying a new home before or after you sell your current home.
Step 2. Choosing a Broker-Your Broker will be in charge of advertising, showing and completing the legal requirements of selling your property, so choose carefully.
Step 3. Next you’ll decide how you want to sell-You and your Broker will work out a plan for listing and selling your property.
Step 4. Determining your selling price-You may have your property evaluated by an appraiser who will assess its location, size, age and any extra features it has or your Broker will advise you on the current market value and area trends with a Comparative Market Analysis (CMA)
Step 5. You’ll sign an agreement with your Broker-This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs and much more. You may wish to seek independent legal advice to ensure you understand the terms and conditions of the agreement.
Step 6. Prepare the MLS input Sheet -This will include all of the details prospective purchasers will need including details of the owners, all conditions of the sale and what is included in it.
Step 7. Advertising prep for your property-This involves photographing your property, staging, generating fliers, video and/or virtual tours.
Step 8. Going on the market-Prospective buyers will contact your Broker and arrange times to view your property.
Step 9. Sale and negotiation-Your Broker will negotiate between you and the buyer to reach a mutually acceptable price. Once you have accepted an offer your Broker will begin preparing the final contract documents and the buyer will pay a deposit.
Step 10. Under contract-Before settlement, both seller and buyer’s
Brokers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements.
Step 11. Settlement day-All going to plan, you’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank. You will have then sold your home.