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Everything you need to know about putting your home on the market, accepting an offer, and closing on your home.
Putting your home on the market can be a stressful process, especially when you don’t know what to expect. Fortunately, with the help of an experienced agent and this easy to follow guide, you can smoothly complete the process. Following these steps will help you prepare so you can get organized and sell your home for the best price possible.
What do you want to accomplish with the sale of your home? Do you want to make a certain amount of money that you can put toward a larger or nicer home? Do you need to sell it as soon as possible to facilitate a move to a new city or area? Once you understand your needs, you can better craft your offer. For example, if you need to sell quickly, you might want to price your home lower than if your goal is to make a certain profit margin. Make sure you convey these needs to your REALTOR® once you choose one so he or she can adjust your selling price accordingly.
Knowing how to price your home is one of the most important parts of the selling process. When you set a fair price in the beginning, you’ll get the most interest from other real estate agents and prospective buyers. Overpricing your home could lead to reduced interest, and underpricing leads to receiving less than what your home is worth. Working with a real estate agent is the best way to determine the right selling price for your home. An agent with experience can determine what other comparable homes are selling for, evaluate the current market, and may even suggest a home appraisal.
If you’ve kept your home in showroom condition since you’ve lived in it, you’re in the minority of homeowners. Once you price your home, it’s time to start getting it ready to be shown to potential buyers. This includes getting rid of clutter, depersonalizing the space so that buyers can envision themselves in the space, making any small repairs, and doing a deep clean to make sure your home is in pristine condition.
I will develop a marketing strategy that is perfect for advertising your home. This involves listing the home and then driving the right people to that listing through social media campaigns, agent-to-agent referrals, traditional media, or SEO advertising. My team creates a marketing campaign that aims to get the most possible traffic to your listing in the first three weeks after becoming a client.
Receiving an offer is an exciting part of the process, but it doesn’t mean the journey is over. I will evaluate each offer and make sure the party making the offer is prequalified or pre-approved by a mortgage lender and that their offer is acceptable to you. If the offer is too low, you can make a counter-offer or offer other ways to bridge the gap, such as covering some or all of the closing costs, making repairs, adjusting the move-in date, or leaving some appliances or fixtures for the new buyer.
Once I deem the offer is acceptable, I will review the proposed contract to make sure it’s all in order and includes the necessary components such as deposit amount, down payment, financing, inspection rights and repair allowances, contingencies, settlement date, and a list of fees and who will pay them. When both parties have agreed to the term, a final contract will be prepared by your agent.
You have accepted an offer and are now very close to the end of your selling journey. But first, you and the buyer must make a list of what needs to be done before closing. In some cases, your home may need to be formally inspected, surveyed, and appraised. In other cases, major or minor repairs will need to be made before the house can close. I will head up efforts to develop and execute this list, get each action item paid for by the correct party, and make sure everything is in order by the closing date. A few days before the closing date, I will call the company closing the transaction to make sure everything is ready to go. If you haven’t done so already, you also need to make arrangements to move out of the home so the new buyer can take possession.
You’ve reached the last step in the seller’s process. When you close on a home you are selling, you are legally transferring ownership of the property to the new buyer. I will meet with the company closing the transaction to sign the final paperwork and go over any issues that have not yet been taken care of. During this time, you can also make plans with your REALTOR® to handle final details such as canceling utilities, cable, and lawn or trash services, changing the name on accounts that the new owner is retaining and ensuring the new owner has instructions for all appliances that will remain in the home.
Once you have sold your home, you’re free to take the next step on your journey. Whether this is relocating to a new city, moving into a larger home, or downsizing and enjoying your life as empty-nesters, knowing all your selling responsibilities have been taken care of will help you achieve peace of mind for your new path.
Randolph Adams is wonderfully knowledgeable about the market, trustworthy, candid, professional, well-connected and helpful. Would recommend him without reservation!
I've had the pleasure of working with Randolph both as a buyer in a real estate transaction as well as a seller. Randolph's diligent work ethic, attention to detail, and superior client service are very impressive. I highly rec...
Randolph did a fabulous job representing me as a purchaser of a condominium in Rosslyn. He was available around the clock. I am a night owl and texted, and Randolph was very responsive. Randolph was very candid and helped me lo...
Randolph was my real estate agent on the purchase of my first home I could not have been happier with the results. Randolph was very responsive and offered good advice during the negotiation. Randolph was even responsive after ...
Randolph helped me in the purchase of my home from start to finish and explained the steps during the process. I felt well taken care of, as Randolph spent a lot of time with me and always responded quickly to my calls or email...
Randolph went above and beyond for my home sale. He used his considerable knowledge of the market to get me the best possible price, negotiated exceptionally strong terms, managed my lender to make sure my loan would close smoo...
Folks, I don't even know where or how to begin to accurately capture how comfortable and relieved we felt having Mr. Adams' at our side throughout a rather complicated purchase of our new home. I purposefully waited a few days ...
Working in real estate for 12 years and now finding a home in new construction I rarely come across an agent who not only is professional but has their clients best interest at heart like Randolph. From the first interaction he...
I met Randolph at an open house, one of about 20 I attended before starting to search for a home in earnest. I chose him as my buyer's agent primarily because of his incredible negotiation skills he works creatively to find win...
We first met Randolph early in 2016 when we were looking to ‘buy up’ from a one-bedroom apartment in Georgetown Park Condominiums (GTPC) at 1080 Wisconsin Avenue N.W. (Wisconsin and M St.). As part of a transition plan back to ...
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As a Washingtonian Top Agent for the last five years, Randolph specializes in Real Estate Investment Consulting and Sales, and Selling Residential Luxury Homes in the DMV, including Bloomingdale, Georgetown, Capitol Hill, Dupont Logan and more.