While it is the best time to sell your home, many prospective homebuyers would be looking to relocate in a new property. When it comes to selling a home in Los Angeles, most of the home sellers dream of hassle-free sale where they can list their property and quickly get enough cash in exchange.
However, you cannot deny that home selling is a lengthy and complicated process since it involves many intricate steps. So, if you want to sell your home in an easy-breezy way, then you should consider selling it to a cash buyer. Well, there is plenty of perks for selling your property to cash buyer.
For instance, when you close the deal with a cash buyer, you will not need to pay 6% fees that realtors typically charge for their services. Since you will be selling your home for cash, you will not need any financing. The most amazing thing is cash buyers handle all the major repairs, allowing you to sell your home as-is.
Besides, finding the right buyer is as important as finding the right real estate agent for a smooth sale. To help you understand better, we have explained the crucial steps you should know to sell your home and fetch a good amount.
Hiring the Right Cash Buyer and Real Estate Agent
First and foremost, you will need to pick a real estate agent who is completely aware of the market trends and is the best fit for you. Keep in mind, choosing the right realtor is an essential part of selling your home without any trouble.
In this digital era, it is quite simple to check out the professional designations and sales history of real estate agents, which has made the job of picking up the right realtor much easier. When you are choosing the real estate agent, make sure to delve into their online profiles to ensure whether or not the one you are choosing is a good fit for your requirements.
When it comes to finding the right cash buyer, make sure to look for the one that has significant positive reviews and who adheres to the Code of Practice. Not to mention, working with a cash buyer will allow you to close the deal more quickly than selling the home to an ordinary homebuyer. Furthermore, the biggest advantage of selling a home to or through cash buyer is that they manage every part of the process effectively.
Well, you may think of selling your home yourself, but it is important to remember that there are many benefits of selling your property through an experienced professional. Note that, if you do it alone, you will have to manage preparing your home, listing and marketing it, and handling buyers, and all the negotiations along with closing details, which can be quite intimidating for you.
1. Set a Timeline for Selling Your Home
As mentioned before, selling a home is a lengthy process, so it can take three to six months, depending on the condition of the real estate market. The moment you decide to sell your home, and you have picked up the real estate agent, you should consider getting a home inspection 2–3 months before to identify the problems, specifically the mechanical and structural issues that may affect your home value.
While you will have enough time for necessary home repairs, schedule a time for fixing the damages. Meanwhile, do not forget to declutter, deep, clean, and stage your home.
2. Take Professional Photos
Now that your home is ready to sell, schedule a photo shoot to take pictures of your home. Keep in mind that high-quality pictures are important, as it will maximize your home features, making it more appealing.
3. List Your House
Once you are done with a photo shoot, the next step is to list your home. Here, it is important to emphasize that staging your home before listing it is very important. Not to mention, home staging help enhance your home features.
4. Pricing Your Home
Setting a realistic price for your home is one of the vital parts of selling your home. Pricing your home too high can backfire, whereas underestimating your home value can cause a great loss. So, to set a realistic price for your home, you will need to rely on your area’s comps. Get data sheets that entail the details of recently sold properties of your neighborhood. It will give you a better idea for pricing your home rightly.
5. Review and Negotiate Offers
After your home has been listed, you will probably start getting offers from prospective buyers. At this point, your real estate agent can be the source for advice. If you reside in a competitive real estate market, you may get offers at or above the asking price.
But, if sales are slow in your neighborhood, you are likely to get a few offers and would need to negotiate. Make sure to look closely at some crucial aspects of the higher offers, which may include:
· Type of financing
· How your buyer will pay
· Down payment amount
6. Decide the Closing Date
If you have received multiple offers from homebuyers, you may consider closing the deal with the one offering the higher price for your home. However, if that buyer is relying on a mortgage, make sure to get your property appraised to prevent the shortfall that you may have to bear later.
7. Estimate the Closing Costs
Note that, you will need to pay the commission to your real estate agent, which is usually around 5% of the home sale price. Other than this, you may need to pay the following costs:
· Title Insurance
· Government transfer tax
· Recording fees
8. Assemble Necessary Paperwork
When you are selling a home, there will be a lot of paperwork that you will need to document your home sale. Make sure to organize all the papers and documents in one place. You will need the following documents:
· Your home’s purchase contract
· Certificates of compliance
· Homeowner’s insurance
· Certificate of occupancy
· Tax records
· Mortgage documents
· Appraisal report
· Home inspection report
9. Hire a Real Estate Attorney
Although hiring a real estate attorney is not necessary, it is better to have a legal professional when you are selling your home without any realtor. Not to mention, a real estate attorney will help you with filling out the paperwork, reviewing the contract, and identifying the potential legal issues. This will further ensure your home sale goes smoothly, without any hassle.
The Bottom Line
Now that you have come across the essential steps of selling your home in Los Angeles make sure to follow each step carefully to avoid any pitfall.
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