Owning property is a major step. Becoming a homeowner takes a lot of patience, planning, saving, and dedication to the process. Once new buyers have finally closed on their very first home, it can feel like a major stepping stone to the new world of homeownership. But the really tricky part isn’t the buying, it’s the selling. If you have never had to sell your home before, the entire process can seem confusing and downright frustrating to deal with. Here are a few things that new home sellers may not know about the selling process.
The first thing that many new home sellers don’t know is how the process of home selling works. It all starts with the decision to sell your home. From there, it is smart to get in contact with a real estate agent or realtor who can help you with the process. From there you will list your home and possibly host open houses, where buyers can view the home in person. Then you will start to field offers, and then have a home inspection when you select a deal. If that checks out, there are just the closing papers and costs to deal with and your home is off the market.
Another crucial thing that many new home sellers don’t know is what it is going to cost to sell your home. While your home sale should be a major financial boon for you, there are some out-of-pocket costs for the seller come closing time. You will pay your realtor or real estate agent’s commission, as well as cover the closing costs with the mortgage lender. Selling for cash helps you minimize closing costs and fees. Because cash buyers do not have to go through lenders, there are often no closing costs outside of your commission.
The final thing that many new home sellers don’t know is how long the process of selling a home takes. The process can be as short as a few weeks to several months or more. If your home has a lot of interest right away, you may start to field offers in the few days after your listing first goes up. But sometimes, demand isn’t there and you can be left waiting for months. Plan for a bit of a wait.
Selling a home is not an easy task. If you are a first-timer, you need to do your research to get it all done right. With this information, you are now ready to get your home sold the right way.
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