![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/02\/checklist-for-selling-a-house-mailbox.png\")
<\/a>1. Know where you stand on your mortgage<\/h2>\nEstimated time to complete: 30 minutes<\/h4>\n
Before you list your home, check your equity<\/a> to determine whether or not it\u2019s a solid financial decision to sell. Ideally, you want at least enough equity to pay off your mortgage and cover closing costs with your home sale proceeds. Our recent study on national closing costs reveals that the average cost to sell a house is $31,308 <\/a>\u00a0\u2014 that includes taxes, fees, and agent commission.<\/p>\n For a quick estimate of your home\u2019s current market value, you can use HomeLight\u2019s Home Value Estimator<\/a>, or use this basic formula<\/a>:<\/p>\n Current market value of your home <\/b>($300,000)<\/p>\n –<\/p>\n Mortgage payoff amount (including principal and interest) <\/b>($100,000)<\/p>\n =<\/p>\n Home equity <\/b>($200,000)<\/p>\n If you\u2019re still unsure if selling is the right move, consult with a financial advisor to review your finances in detail.<\/p>\n If you plan your home sale timeline wisely, you can sell your home faster and for more money. Housing market trends reveal that homes sold during peak times of the year garner 3.82% higher prices than average<\/a>. On the flip side, homes sold in less opportune times sell for 7.2% less than the annual average for similar homes.<\/p>\n Fortunately, it\u2019s easy to figure out the best time to sell with HomeLight\u2019s Best Time to Sell Calculator<\/a>. Plug your city in for a detailed breakdown of the best (and worst) times of year to sell in your market.<\/p>\n It\u2019s time to roll up your sleeves and prepare your home for the market. While not the most glamorous tasks, cleaning and decluttering are essential steps to increasing your home\u2019s marketability and value. According to our Top Agent Insights Report, deep cleaning your home adds an average of $1,728<\/a> to the sale price, while decluttering adds another $2,584.<\/p>\n HomeLight has exhaustive checklists for cleaning<\/a> and decluttering<\/a>. Here are the most important items to check off:<\/p>\n Declutter open areas:<\/b> Declutter visible spaces, including all shelves, countertops, desks, tables, walls, and other surfaces. Tuck away personal items, family photographs, and knick-knacks. Deep clean before listing photos and in-person showings. Pay extra attention to your kitchen and bathrooms to brighten their appearance.<\/p>\n 1. Tackle the kitchen.<\/b> 2. Move on to the bathroom.<\/b> 3. Clean the rest of the house.<\/b> Once you\u2019ve completed the do-it-yourself prep work<\/a>, it\u2019s time to hire a real estate agent. Throughout the thick and thin of your home sale, your real estate agent will be by your side as a valuable resource and teammate. But don\u2019t just hire any agent \u2014\u00a0 our research reveals that the top 5% of real estate agents sell homes for up to 10% more than their peers<\/a>.<\/p>\n HomeLight\u2019s Agent Finder<\/a> is a great way to find a real estate agent with a proven history of successful home sales. We\u2019ll crunch transaction data to match you with the three best real estate agents for your home sale based on stats like their average list to sale ratio, days on market, and client reviews.<\/p>\n From there, we recommend that you interview a real estate agent<\/a> with a 15-minute phone call. You want an agent who is knowledgeable and experienced in your market and who you get along with on a personal level. You should feel personally comfortable regularly communicating with them over the coming months.<\/p>\n 95% of home purchases<\/a> include a home inspection contingency, meaning that your buyer can use the issues uncovered during the inspection as leverage to negotiate a lower price. A poor inspection report may even cause the buyer to walk away from the deal entirely<\/a>. The National Association of Realtors (NAR) reports that 17% of terminated contracts<\/a> fall through because of home inspection issues.<\/p>\n To avoid running into issues later on, pay for a pre-listing home inspection and take care of necessary repairs right away. If it\u2019s a big job like a roof repair<\/a>, make sure you book it well ahead of time, so you aren\u2019t stuck waiting for a repair to list your property.<\/p>\n According to Realtor Magazine, these are the most common home repairs<\/a> sellers need to make:<\/p>\n Amy Zeitz Bailey<\/a>, a top-selling real estate agent in Louisville, KY, recommends that sellers update their front door lock. \u201cI can\u2019t tell you how many times I\u2019ve taken buyers around a muddy path to a gas meter to get a key that may or may not even work.\u201d shares Zeitz Bailey.<\/p>\n \u201cMaking sure the door opens smoothly has a big impact on a buyers\u2019 first impression.\u201d<\/p><\/blockquote>\n While we\u2019re on the subject of repairs, it\u2019s important to note that sellers must disclose known property issues<\/a> with their buyers. So if you decide a foundation crack or malfunctioning water heater is not worth your time to fix, you\u2019ll need to disclose the issue during the home sale.<\/p>\n A little light remodeling can go a long way to improve your home\u2019s appearance and add value to your home<\/a>. Ask your agent what the best upgrades are for your home, so you don\u2019t overspend on low-impact projects.<\/p>\n Some common upgrades with strong returns include:<\/p>\n Money.com reports that curb appeal<\/a> can increase a home\u2019s value by 7% or more<\/a>. The good news is, you don\u2019t need to spend a fortune to make an impact. In our Top Agent Insight Report, 70% of agents recommend that sellers put less than $1,000 into curb appeal projects<\/a> while more than a third say that you don\u2019t need to shell out more than $500. Zeitz Bailey suggests that sellers start by planting colorful flowers in the front yard.<\/p>\n Staging your home means dressing up the property to make it look as attractive as possible for buyers<\/a>. NAR reports that 77% of buyers<\/a> said they were more able to imagine themselves moving into a staged home than an unstaged home; 31% of buyers shared that they increased their offer because the property was staged.<\/p>\n Your real estate agent can help you rearrange furniture, adjust lighting, and change decor to bring out the best in your home. They can also refer you to a professional stager<\/a> to bring in temporary furniture and decor.<\/p>\n After staging, hire a professional photographer to take photos for your home listing. Your agent can refer you to a stellar photographer in their network.<\/p>\n After you\u2019ve done everything necessary to prepare, it\u2019s finally time to put your home up for sale<\/a>. Your agent lists your home on the Multiple Listing Service (MLS)<\/a> for maximum exposure. According to NAR, In 2019, 9 in 10 sellers listed their homes on the MLS<\/a>, which was the number one source for sellers to list their homes.<\/p>\n As each offer rolls in, evaluate it by the following criteria<\/a> to gauge if it\u2019s a match for your selling goals:<\/p>\n Be wary that waiting too long<\/a> to accept an offer will increase your home\u2019s number of days on market, which tends to decrease the final sale price<\/a>.<\/p>\n You\u2019ve finally received an offer you feel happy with, and it\u2019s time to close the deal<\/a>. The closing process starts with accepting the offer and ends with the final signature, signaling that you\u2019ve officially sold your home. Ellie Mae, a major mortgage company, reported in June 2020 that the average processing time for a home purchase loan is 46 days<\/a>.<\/p>\n During this time, you\u2019ll go through:2. Research the best time to sell in your housing market<\/h2>\n
Estimated time: 5 minutes<\/h4>\n
3. Deep clean and declutter your entire home<\/h2>\n
Estimated time: 1 to 4 weeks<\/h4>\n
Decluttering<\/h3>\n
\n Declutter storage areas: <\/b>Expect buyers to open up cabinets, closets, and any other storage spaces during home showings. To enhance the appearance of storage spaces, pack up non-essentials into cardboard boxes and store the boxes in the garage or in a storage unit until your home sells. As a rule of thumb, we recommend decluttering closets until they are only half full<\/a>.
\n Declutter your yard: <\/b>If you\u2019ve got things stored in your front or back yard, it\u2019s time to sell them or put them in storage. Remove trampolines, boats, temporary above-ground pools, and other large items. While you’re at it, you might also want to see if you can clean up your neighbor\u2019s yard<\/a> if it\u2019s an eyesore.<\/p>\nDeep cleaning<\/h3>\n
\n Clean your countertops.
\n Scrub down and organize your appliances (use these interior design principles<\/a> for the best possible organization).
\n Empty your refrigerator and wash it inside and out with soap and water.
\n Scour your stovetop<\/a> and oven<\/a>.
\n Scrub the dishwasher and clean the racks.<\/p>\n
\n Clean your toilet with a scrubber and toilet bowl cleanser. Leave the cleanser on for several minutes to dissolve tough stains.
\n Clean the sink and bathtub.
\n Wipe down mirrors and glass with a streak-free glass cleaner (glass cleaner can also give your faucets a pleasant shine).<\/p>\n
\n Scrub the walls to remove any discoloration or stains.
\n Dust everything with a microfiber cloth
\n Wipe down surfaces with a multi-surface cleaner (avoid using the cleaner on unsealed woods or glass).
\n Sweep the floors, including the areas under furniture.
\n Vacuum after sweeping to suck up any remaining particles.
\n Mop all hardwood floors.
\n Clean carpets with a carpet cleaner rental<\/a>, or hire a professional carpet cleaning service.<\/p>\n<\/a>4. Find a real estate agent<\/h2>\n
Estimated time: 1 to 5 days<\/h4>\n
5. Tackle home repairs<\/h2>\n
Estimated time: 1 to 5 days<\/h4>\n
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<\/a>6. Increase your home\u2019s marketability with light remodeling<\/h2>\n
Estimated time: 1 to 4 weeks<\/h4>\n
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7. Boost your curb appeal<\/h2>\n
Estimated time: 1 to 3 days<\/h4>\n
8. Stage your home and take listing photos<\/h2>\n
Estimated time: 1 to 2 days<\/h4>\n
9. List your property<\/h2>\n
Estimated time: 1 day<\/h4>\n
10. Evaluate offers<\/h2>\n
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<\/a>11. Accept an offer and go through the closing process<\/h2>\n
Estimated time: 30 to 45 days<\/a><\/h4>\n
\n Opening escrow<\/b><\/a>: <\/b>The buyer writes an earnest money check that is held by a third party until you negotiate a contract.
\n Home inspection:<\/b> A home inspector comes to evaluate the condition of the property. If you\u2019ve already done a pre-listing inspection, this step shouldn\u2019t reveal any surprise issues.
\n Appraisal:<\/b><\/a> If the buyer\u2019s offer is mortgage-backed, the lender will have a third party conduct an appraisal to determine the property\u2019s value. The lender will only issue a loan for the appraised value, so if it comes in low, your buyer will need to come up with the difference in cash, or you\u2019ll need to lower the sale price.
\n Possible offer renegotiation: <\/b>If there were issues during the home inspection or appraisal, your buyer may want to negotiate the price and terms of their offer.
\n Final walkthrough: <\/b>Once both parties agree on the sale contract, it\u2019s time to walk the buyer through the property one last time before signing the contract.<\/p>\n