Once you make the decision to sell your home, you might start wondering how long it’s going to take. We’ve put together this guide to help you understand the process, time-wasters, and tips to get through the home selling process as quickly as possible.
Preparing your house for sale
There is almost always some degree of work that must be done before your home is listed. This can depend on how much work and maintenance you have done leading up to this point, but there are a few typical pre-listing preparations, like:
Be sure to remove any unwanted clutter from your home. If you have a lot, or if you have bigger items to get rid of, you may want to consider hiring a junk removal service to help. If you have items that you’re not ready to part with, you may want to consider renting a storage unit so that you can store them away before home showings.
Make small repairs
In the weeks leading up to listing your home, knock out some of the small, inexpensive repair projects. This can be replacing outdated or missing cabinet hardware, touching up scuffed paint, or fixing leaking faucets.
Spruce up the curb appeal
Pulling weeds, adding fresh mulch to your landscaping, and taking the time to mow will help your home make a positive first impression on potential buyers. Put fresh flowers in your flower pots, wash dirty siding, and powerwash any sidewalks, patios, or decks if needed.
What factors can impact the home selling timeline?
Once your home is listed, there are a number of factors that can impact how long it will take to make a deal. Some of these factors include:
State of the market
Supply and demand play a big part in how quickly your home will sell. Real estate markets are cyclical, meaning that home prices and interest rates inevitably rise and fall as the economy shifts. Depending on which cycle we are currently in, either buyers or sellers can have the upper hand. In a seller’s market, there are more buyers than there are properties for sale. This leads home prices to rise and multiple offers become the common situation.
Condition of the home
If your home is overdue for repairs or renovations, it can deter buyers who are looking for something that’s move-in-ready. If there are leaks in plumbing, cracks in walls or ceilings, and bad spots in the roof are all things that can be eyesores to buyers.
Buyer’s Contingencies or Financing
If you get an offer on your home, the buyer may have listed some contingencies. Or, they may still have to get approved for financing. If the buyer is waiting to receive financing or wants to have their own home inspection, it can take extra time.
Tips for speeding up the sale
While some factors are certainly out of your control, there are some actions you can take to accelerate the sale of your home.
Refrain from major renovations
Spending extra time and money on major upgrades may add unnecessary time to the sale and has not been shown to yield a higher return when the home is sold. Examples of these major renovations include kitchen & bathroom overhauls, adding on rooms, and getting new floor covering throughout the house.
Enlist contractors early (if needed)
If any repairs or upgrades are needed, be sure to line up any contractors as soon as possible. You’ll want to get on their schedule as soon as you can so that it isn’t holding up the process of selling your home.
Get a pre-listing inspection
An inspection provides the opportunity to identify any potential issues early on so that you can get a head start on fixing them or disclose them immediately to buyers. This is something that you’ll have to pay out-of-pocket, but it can put you in a better position to sell your home. If there are no material defects found, you can state that on the listing so that buyers may waive the usual inspection contingency and speed up the process.
Be flexible with scheduling
It’s best to accommodate any requests for open houses, showings, inspections, and appraisals to keep momentum going on your home. Being attentive to buyers’ requests will keep them interested and moving quickly through the process.
Find a REALTOR®
Find a local agent who knows the market & can help you sidestep the common obstacles that slow down the process. Selling a home can be a journey, but it is much easier with the help of a REALTOR® you can trust.
Team Melton is ready to help you through the process. Our team of professionals has over 50 combined years of real estate experience to assist you through every step of the process. Contact us today to get started!