- Learn the current market: What are comparable homes selling for? How fast? How much per square foot?
- Hire a Realtor: Realtors can help answer all of these questions. You will likely only sell or buy a house a few times in your life. Realtors do it for a living.
- Interview Realtors
- Calculate how much selling your home will cost you. Closing costs, attorney fees, moving out, making repairs- all of these can add up to significant expenses.
- Calculate how much you owe: if you have a mortgage, ask the mortgage company for a payoff amount.
- Save some money: Things happen. This is a particularly important time to have funds available if needed.
- Check your credit: You will want to optimize your credit if you are preparing to buy another home. Correct any issues you may find before applying for a loan.
- Hire an attorney or title company: These professionals will help guide you through the process.
- Research referrals- in addition to interviewing Realtors, call their referrals to confirm.
- Research fees- closing attorneys and title companies charge different amounts.
- Speak with your accountant: You may be able to roll some profits into your next home.
- Plan a timeline: Have your house listed by a certain date, and be ready to close quickly if needed. Be pre-qualified for your next purchase before listing your current home.
- Make repairs: Some will be minor. Some may be major. If you are aware of any issues, you will be expected to disclose this information. If you fix it prior to a buyer's inspection, you can ask for more money to start negotiations.
- Consider upgrades: Again, you can ask for more money to start negotiations.
- Paint- This is a simple task that will help your house look much cleaner and well maintained.
- Complete a disclosure: Realtors have these forms readily available, but you can find them online as well.
- Declutter: This is just part of staging your home. Removing that extra chair, bench, or lamp will help the house feel larger as prosepective buyers walk through.
- Get great pictures: In today's market, the first introduction of your home will be online photos. Don't skimp. Get plenty of good quality pictures. Showcase as much as you can. The more the better. If you have limited pictures, most buyers will assume you have something to hide.
- Clean your windows: This is a simple task that will make your house look brighter.
- Clean your bathrooms: This is self explanatory.
- Change any burned out light bulbs.
- Cut the grass.
- Hide your pets and Febreeze.
- Hide your family photos: This is a security task as well as allows prospective buyers to imagine themselves there.
- Don't get emotional: Sure, this house has been your home. You love it. You need to handle this transaction with little emotion though. Start thinking of the house as in investment first.
- Clean out your closets: visitors will definitely open them.
- Pack and store anything you don' need: This will help with decluttering.
- Walk through the house as if you are a prospective buyer.
- Advertise, Advertise, Advertise: The more the better. Tell your friends, neighbors, and family. Ask your Realtor to print one-page flyers with pictures and descriptions. These do indeed get passed around. Put a sign in the yard. Put signs around the corner on busier streets pointing potential buyers toward your home. Put your house online. A Realtor will get your house on the Multiple Listing Service (MLS) with Memphis Area Association of Realtors (MAAR). This is by far the best way to get the most eyeballs on your home.
- Host an open house: Word of mouth goes a long way. Even if you end up only hosting your "lookey-loo" neighbors, they will share with their connections as well.
- Be available: You must be able to vacate on short notice. Potential buyers will likely not want you there while they wander, and you may not want to hear their commentary either.
- Get feedback: Ask your Realtor to provide any feedback from potential buyers. Even if your home is not the right fit for them, they may have valuable feedback.
There is so much more, but this is a quick list to get you started.