This time last year, the U.S. housing market was in the midst of a steep decline.
With fewer homes on the market and a growing number of buyers, good homes sold in a matter of days. As the market recovers, however, competition is growing and the home selling timeline is getting murkier.
If you’re selling a house in 2023, you probably want an idea of what the home selling process is going to be like. Not only do you need to consider the days leading up to the sale of your home, but the aftermath as well.
We’ll go over a quick home selling checklist to give you a better idea of what you need to do and how long it’ll take. Keep reading and get the ball rolling on your home sale.
Hiring a Realtor and Listing the Home
The first step in the average home selling process is to hire a realtor and list your home. A realtor isn’t always necessary, but they do have the right connections and qualifications to find suitable buyers. They can also negotiate a sale price on your behalf.
An issue with hiring a realtor is that they take a commission on the sale of your home. If you’re dealing with hundreds of thousands of dollars, it’s a significant sum. Sellers who are going through probate or foreclosure, or whose home is in poor condition might enjoy going to a cash buyer.
An investor, like those at newyorkbusinesstrends.com can get you cash for your home. They also condense the home selling timeline down to a few days instead of several weeks.
Finding a Buyer
Once you hire a realtor, tidy up your property, and take pictures, you can list it and start scheduling showings. To find an interested buyer quickly, you should always consider improving curb appeal and home staging. 77% of realtors say staging improves your chances of selling.
How quickly you end up finding a buyer depends on numerous factors that may be out of your control. The state of your local housing market dictates a lot, as does the time of year you’ve chosen to sell.
In the summer of 2022, homes were on the market for an average of just 20 days. As of January 2023, it has skyrocketed to 75 days. If you’re looking to shorten the process, make sure you’re setting a reasonable price and taking every possible measure to find a buyer.
Home Inspection and Negotiation
After you find a buyer, all that’s left to do is the home inspection and any negotiations that result. If there are any unforeseen maintenance issues, a buyer may want you to pay for them.
You’ll also negotiate a closing date for the buyer to get the keys to the home. Barring any major repairs or requests by the buyer, this part of the process shouldn’t take long. Most sellers planning a move need a few months to get themselves sorted.
The Ups and Downs of the Home Selling Process
With a clearer picture of the home selling process, you can find a good realtor and get your home listed. Selling a home is a big deal, so it’s best to take your time if you can. Those that feel rushed for one reason or another might consider going with a cash buyer instead.
If you found this post helpful, visit us again for moving tips, business advice, and much more.