How to Sell Your Home in Five Days (Under Contract)
My last article Five Steps to Owning Your First Home, focused on five things that you can do to buy your first home. Now, I will share with you five things that highly recommend you do to sell your home within five days of being on the market. After my divorce, I decided not to have a tenant, so I listed my house for sale that was owned jointly between my ex-husband and me.
I was able to have a signed contract within five days, but before I share what I did, let me share three important lessons I learned during my first attempt at selling my house:
1. Fire my realtor after 30 days if they are not aggressive in selling my house. My first realtor did not have my best interest, he was focused on making the commission with little work. I worked with him for three months and there were no potential offers, except for showings. This was my fault because I was not engaged as I should have been.
2. Get more involved with the process. Being in another country, I did not take the process seriously and I lost money. There wasn’t a tenant in the home, so it was not maintained during the winter, which caused the pipes to freeze and bust. Because of my lack of involvement, I spent over $11,000 in repairs, which worked out for the best.
3. Communicate exactly what I expect to my realtor and don’t settle.
I learned my lesson and I didn’t want to continue wasting money that I didn’t have to waste. Here are the five things I did that I highly recommend you do when placing your home on the market.
Assess the market– Before you decide to put your house on the market, conduct your own research and find out what houses are selling for within your neighborhood and determine if this is the right time to sell. Your realtor will assist with this process. Where my house was located, Chesterfield VA, it was perfect timing. New houses were being developed and houses were selling at a minimum of over $200,000.
Hire an aggressive realtor– I had to hire a second realtor because the first realtor (male) was not aggressive at all. He had showings, but no potential buyers for three months. You want a realtor who is has a great reputation for selling houses for their clients, who is honest and tells you what you need to do to get your home market ready. My new realtor did just that and if you are in Richmond Virginia area contact Catina Wright at CatinaW@IconRealtyRVA.com
Communication– When you have an excellent realtor he or she will put the time in to communicate with you and let you know exactly what improvements needs to be made. My new realtor communicated frequently with me and this made my process easier. She wasted no time visiting the house, identifying everything that needed to be fixed to ensure my house would sell and not sit on the market for another three months.
Improvements– I highly recommend you make the necessary cosmetic changes recommended by your expert realtor within your budget of course. My realtor recommended power washing the house, beautification of the yard and more. I hired someone to install new carpet, bathroom fixtures, paint the entire house a neutral color that was inviting and replace the kitchen floor. Yes, I had to spend money to get my house ready and so will you. But it is worth it if you want your house sold within five days and not sit on the market wasting money.
Trust– You want to trust your realtor in setting the price with your assistance. They will ask you what you want to list your house for and you need to be realistic and not over or under price your home.After I made all the necessary changes, discussed the list price with my realtor, I was able to list my house for $240,000 and within five days I received my first offer for the full asking price. The feeling I had knowing my house had a buyer with a signed contract under a week was amazing!After 30 days of negotiation between the buyer and my realtor, we were able to close on the house within 30 days. YEAH!
I was excited and relieved to know that my house was sold and I had no joint assets between my ex-husband and I. It can be difficult when you have joint assets and only one person is paying the mortgage.
When you follow my five recommended steps, you are highly to sell your home within five days. Also, read my article on how to buy your first home using my five steps by clicking here.
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