Is this your first time selling a home in South Jersey? Or maybe it’s been years since the last time you sold one? If so, this complete guide for first-time home sellers will help you navigate the home selling process successfully.
While an experienced real estate agent in South Jersey can easily help you sell your home, it’s important for buyers to learn about how this type of real estate transaction works so they can be as prepared as possible.
In this post, we’ll share the nine main steps of the home selling process and how current rising interest rates are affecting home sellers. We’ll cover what you need to do each step of the way, from before you contact an agent to finding an interested buyer.
First Time Home Sellers: What Do You Need to Take Care of Before Contacting a Real Estate Agent?
1. Figure out what to do with your belongings
The first major step for first-time home sellers looking to sell a home in South Jersey is to figure out what to do with your furniture, decor, and other items. While this might seem like a hassle, it’s important to do this work upfront to save time later when you need to prepare your home for showings and open houses.
Start decluttering now by packing away all non-essential items. Separate what needs to be taken to storage, donation centers, or trashed.
2. Clean and repair
Another thing you can do to prepare your home for sale is start making repairs, deep cleaning, and landscaping. You should also consider adding improvements and upgrades to your home to make it more modern, appealing, and ultimately sellable.
This will help you down the road when it comes time for the buyer to conduct a home inspection. An even better way to prepare your home is getting a pre-inspection. That way, you can know what to take care of in advance so no surprises come up later.
Keep in mind that if you’re unsure where to start, you can always hire an agent first before this step. Listing agents can show you what needs to be done to sell your home fast in South Jersey. They can even recommend specific contractors to help you.
How Do You Hire a Real Estate Agent in South Jersey?
3. Find a listing agent who specializes in your area
The best way to sell your home fast and for the most amount of money possible is by hiring an experienced real estate agent. Agents have the knowledge, tools, and network connections necessary to sell a home efficiently.
There are thousands of agents in South Jersey to choose from. So how do you decide which one to work with? Start by making a list of possible choices. Look at their ratings and read the reviews from past clients.
When you interview them, ask about their previous experience. How fast do they sell homes, on average? Do they tend to sell at, above, or below the asking price? What’s their commission?
Once you find an agent who places your best interests above their profit, you’ll sign a listing agreement. This agreement means they’re officially representing you in the sale of your home.
First Time Home Sellers: What Happens Once You Find a Homebuyer For Your South Jersey Home?
1. Buyer demonstrates their serious intentions
The buyer proves they’re serious by making a purchase offer that either aligns or is close to your listing price. You and the buyer may keep negotiating during this time. The buyer may also make an earnest money deposit on the home, which further shows their intentions to purchase.
2. Buyer makes it official
A Purchase Agreement is signed between all parties involved in the transaction. It shows the buyer will officially be buying your home. At this point, start looking into title companies in your area. You can ask your agent if you need some suggestions.
3. Buyer inspects the home
At this point, the buyer pays an option fee, which gives them a window of time to get a professional home inspector to look at the house. If your home doesn’t pass the inspection, the buyer may request that you repair whatever needs to be fixed or lower your asking price.
4. The title history of the home is inspected
Now, the title company you hired will inspect the title history of the property. This is just to make sure the property is financially sound and that there are no debts, back taxes, or other concerns.
5. Buyer’s lender conducts an appraisal of the property
At this stage, the buyer will get their lender involved to conduct an appraisal of the home. This verifies that the home is worth what you asked for and that the lender is loaning the buyer an appropriate amount of money.
6. You made it to closing!
The transaction will officially move into closing once all the necessary legal documents are signed and fees and closing costs are paid. The title will be transferred to the buyer, and you’ll hand over your keys.
First Time Home Sellers: What Do Rising Interest Rates Mean if You’re Selling a Home?
Given the recent rise in interest rates, many first-time home sellers are concerned about the ability to sell their homes in the current South Jersey market. Is it still possible to sell a home fast and maximize your profit in these conditions?
Rising interest rates tend to lower buyer demand over time, which results in homes being left on the market for a long time. The best way to sell in conditions like this is by developing a comprehensive pricing strategy.
Higher than average interest rates mean you’ll likely have to lower your asking price to keep the home affordable for buyers.
However, working with a real estate agent to come up with a fair asking price can help ensure you still get top dollar when selling a home in South Jersey.
Conditions like this also mean that maximizing your home’s sale potential, using effective marketing techniques, and understanding what buyers are looking for are even more important.
The Nancy Kowalik Group is Here to Help First Time Home Sellers in South Jersey
If you’re looking to sell a home in South Jersey, Your Home Sold Guaranteed Realty - Nancy Kowalik Group is the best choice to help you navigate the current housing market.
Nancy Kowalik is ranked as one of the best real estate agents in South Jersey– she serves communities around Blackwood, Mullica Hill, and the surrounding areas.
Nancy and her professional team of agents have years of experience working with first-time home sellers. She’ll make sure you understand the process and handle all the stressful details for you.
If you have more questions about the selling process or want to learn more about working with Your Home Sold Guaranteed Realty – Nancy Kowalik Group, simply call (856) 478-6562 or fill out the form below: