A Confident Way to Sell.
Selling your home can be an emotional and stressful experience. You might wonder, "What do we do now? Where do we start?" At The McCoy Group, we take pride in supporting you every step of the way. We offer expert guidance, helpful suggestions, and industry knowledge. Our team of experienced agents has a thorough understanding of market conditions and can assist you and your family as you transition to the next phase of life.
Are you ready to make a move?
Selling Process
The first step to selling your home is to discuss its value with your agent. Your agent may walk through the home, analyze comparable properties in the neighborhood, and take note of any improvements you have made. Questions like “Do you have a pool?” or “Is your property situated on acreage?” are important, as these factors provide your agent with the information needed to perform a sensible, market-based analysis of your home’s worth. Timing is also a crucial consideration. Discuss your timeline with your agent to determine what works best for your specific circumstances.
Step 1: Home evaluation and timeline
If the answer is yes, this affects the timeline for when you should list your home. Your agent will provide personalized recommendations tailored to your situation. Generally, it's recommended to list your current home before starting to look for a new one. Many sellers prefer that your current property is under contract before they accept an offer. Keep this in mind and discuss the best strategy with your agent.
Step 2: Are you also buying a home?
You’re now ready to begin the process! Your agent will present you with a listing agreement that details the terms, price, and conditions of the sale. This signifies that your agent is officially representing your home, and you’re making progress. It's important to pay close attention to your agent's guidance on pricing—setting the price too high is never advisable!
Next, your agent may recommend actions such as decluttering, painting, making necessary repairs, or simply tidying up. It’s important to stay open to their suggestions, as the agents have years of experience and know what makes a home more marketable and appealing to potential buyers.
Once your home is ready, the agent will schedule professional photography. Treat this time as you would a showing, and make sure to put your best foot forward.
Step 3: Preparing to sell
You’ve completed your chores and are ready to start showing your home. Your agent will discuss showing requests with you and go over essential information for the active period. Once your home is listed on the MLS, you may start receiving showing requests. It's important to keep your home in good condition during this time and to address any scheduling conflicts with your agent before rejecting a showing request. Never reject a request without consulting your agent first!
Keep in mind that finding the right buyer can take some time, depending on market conditions and the time of year. Don’t lose hope; if you feel something is wrong, reach out to your agent to discuss your concerns. Agents work diligently to market properties and, just like you, they want to sell your home!
Step 4: Ready to list
Great news! We have received an offer. Your agent will go over the terms of the offer in detail and provide you with guidance and expert advice regarding these details. Sometimes, the price isn't the most important factor for a seller; other elements such as the closing date, option period, and leasebacks can be just as significant.
During this time, it’s important to understand the contract and feel free to ask any questions or express any concerns you may have. Once a contract is accepted and signed by all parties, the buyer will likely enter an option period. This is when they can hire an inspector to evaluate the property. Option periods typically last between 5 to 10 days and grant the buyer the unrestricted right to terminate the contract if they choose to do so.
Step 5: Offer and Contract
Depending on the terms of the contract, after the option period, the status could either be "pending" or "contingent." If you accepted an offer that is contingent upon the sale of the buyer’s other property, you will need to wait for their house to close before you can close on your own home. The timeline for each situation will vary, and it’s important to fully understand the terms. Be sure to discuss all options with your agent.
If the buyer does not need to sell another home, the status will change to "pending" after the option period. "Pending" means that the title company and the lender are preparing the final documents and ordering the appraisal, if necessary. These are the final weeks leading up to closing. During this time, it’s essential to communicate regularly with your agent to stay informed about everything happening behind the scenes.
Step 6: Pending or Contigent
Congratulations! You have made it through all the showings, cleaning, and stress. The final step is closing on your home. Your agent will schedule a time for you to sign the necessary documents, officially completing the closing process. This process is straightforward and takes about an hour. Once all parties have signed, the buyer's lender will fund the loan, and the title company will wire you the funds!