Selling Your
Home?

Selling Steps

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Step 1: Choose a Real Estate Agent

While it's possible to sell your home on your own, a real estate agent with experience can provide valuable market insights, listing advice, and negotiation skills. They'll help price your home competitively and market it effectively. Get connected with an agent as soon as you start thinking about listing. An agent can provide you with helpful advice on how to prepare your home for sale so you are not wasting money on things that won’t increase the value of your home. An agent will also outline improvements or repairs that could increase the value of your home.

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Step 2: Assess the Market and Your Property

Understand the local real estate market in North Carolina and evaluate how your property fits within that context. An agent will provide you with data showing how other homes in your area have sold and what you should expect for your home. Consider the timing of your sale.

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Step 3: Prepare Your Home for Sale

This can include cleaning, decluttering, making necessary repairs, and possibly staging your home to make it more appealing to buyers. Your goal is to make a great first impression for photos and during showings. The biggest rush to see your property will be in the first two weeks that the property is listed. You want the property looking it’s best during this time!

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Step 4: Professional Services

Your agent will schedule to have several professionals come to your house to take photos, videos, aerial shots and to measure your home for the square footage. This is a critical step to make your home shine online! There is a huge difference in photos taken by a professional and ones taken by an agent playing the role of an amateur photographer.

 

Step 5: List Your Home

Your agent will list your home in the Multiple Listing Service (MLS) and other online real estate platforms. They will install a lockbox and yard sign to in preparation for showings.

 

Step 6: Advertise Your Home

This step is oftentimes missed by agents but it is actually the most important! According to the National Association of Realtors, 97% of buyers search for their new home online but it isn’t enough to just put it on the MLS and hope the buyers see it. The agent should implement a comprehensive digital marketing strategy that will beautifully showcase your home online. Ask to see the marketing results of previous listings!

 

Step 7: Review and Negotiate Offers

Once offers start coming in, you'll need to review them with your agent and decide whether to accept, reject, or counteroffer. Your agent will help negotiate the best possible terms.

 

Step 8: Enter Due Diligence Period

In North Carolina, after you accept an offer, the buyer enters a due diligence period. During this time, the buyer will conduct home inspections, appraisals, and secure financing. They may negotiate repairs or changes to the offer based on inspection results. As the seller, you may have to address any issues that arise to keep the sale moving forward. It’s a good idea to budget for repairs depending on the condition of the house. Usually 1% of the sales price is a conservative rule of thumb.

 

Step 9: Prepare for Closing

Once the due diligence period is over you'll move toward closing. You'll need to gather any necessary documents and possibly make arrangements to repair any agreed-upon issues with the property.

 

Step 10: Closing

The closing process involves signing paperwork usually days-to-weeks prior to the actual closing date, legally transferring the property to the buyer, and receiving payment. In North Carolina, closings are conducted by a closing attorney who ensures that all aspects of the sale are legally compliant. The attorney also makes sure you received any proceeds you are due after closing. The closing isn’t finished when the buyer signs the paperwork. The money has to arrive to the closing attorney and they have to file the deed with the county. Then it’s closed!

 

Step 11: Move Out

Before the closing date, you'll need to vacate the property unless you've arranged a different agreement with the buyer, such as a Seller Possession After Closing.

 

Step 12: Report the Sale on Your Taxes

Consult with a tax advisor about how to report the sale of your property. You may be eligible for exclusions on capital gains tax if the property was your primary residence.

 

Each real estate transaction is unique and market conditions can affect the selling process. It's important to work closely with your real estate agent and possibly a real estate attorney to navigate any challenges and ensure a smooth sale. Additionally, keep in mind that market conditions, legal requirements, and other factors can change, so it's crucial to stay informed about the current landscape in North Carolina real estate.