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Selling Home Process – How it Works

Posted by Jason Coriano on Tuesday, December 27th, 2016 at 8:24am.

So you bought a home, and while it was great for a season, you’re ready to sell it. But how exactly do you sell a home? 

As you might imagine, selling a home is a little different from buying one. Sure, a few parts are the same, but the responsibilities are flopped. To complicate things further, you’re probably looking to buy a new home to move into. 

How can you possibly navigate all of this? 

A Real Estate Agent Can Help 

While you can technically sell your home without an agent, they make the process much easier. They’ll get your house listed properly on the full market, they assist with advertising, they’ll help negotiate deals, and more. 

It’s in the best interest of an agent to get your home sold quickly for the best price possible. You’re working together towards the same goal. That’s part of why 93% of home closes happen with an agent. 

They know how the process works. Because a home is a large investment, there’s a lot of moving parts when selling one. Here’s a broad overview of what it looks like. 

Figuring Out the Value 

The first thing you’ll do is determine the value of the home. This is calculated based on previous pricing, surrounding area, current market trends, and more. Likely, you’ll end up with a range from which you can determine a sale price. 

Your agent can advise you on asking price and work to making sure you sell your home for as close to that price as possible. Chances are, the offers that come your way will be below the asking price. 

Home Inspection 

The home inspection is a critical part of selling your home. While it’s possible the buyer will get one of their own, it’s none optional for the seller. This will avoid potential legal issues, as well as solidify your home’s value. 

It’s not worth trying to hide serious problems with your house. Make sure to get a proper and honest inspection. 

Patience is Important 

Depending on the time of year and the current market, getting an offer can take a while. Not always. Sometimes, you’ll get great offers in from the start, and you can sell from there. 

Other times, you need to wait. You might even get an offer that falls through at the last minute. A lot can happen between accepting an offer and closing on a home. 

What’s important is that you remain patient. Don’t except a low ball offer because you’re getting antsy. 

After the Sale 

Once you’ve accepted an offer letter, the inspections have gone through, the paperwork is filed, and deed is transferred, you’ve officially sold your home! Now, what happens with all of that money? 

The first thing that happens is the remaining amount on your mortgage is paid off. Next, closing fees, commission costs, and miscellaneous expenses are paid for. 

After all of that, the remaining money is yours. 

Looking to sell your home on the San Diego MLS? We can help with that. Contact the team at Metro San Diego Realty today! 

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