Selling your home can require a lot of work. If you're part of the majority of people who do not have the time or resources to dedicate to a real estate transaction, then we recommend reaching out to a real estate agent!
We are determined to get you the most money for your home and to streamline the selling process for you. We pride ourselves on timely communication, and provide all the answers you need to know to help facilitate the transaction process.
We like to keep our sellers up to date and aware of how their homes are valued. We provide you with accurate information on the conditions of the housing market overall, as well as weekly and quarterly updates on Park City housing market and how your property compares to similar homes.
Here, we go over a brief step by step process to selling your home. Some questions are asked along the way so that you can get a basic understanding of the criteria we hold ourselves to in order to make the real estate transaction process as transparent and easy as possible for everyone.
Create a Checklist
Whether you choose to go with an agent or not, we encourage anyone looking to sell their home to do their homework. What we mean by this is learning all you can about your property. Check the inside and the outside of your property thoroughly. Some questions you want to ask yourself are do repairs need to be made? Is there yardwork to be done? Are plumbing and electric fully functional? Are windows and doors in good condition? How are the appliances? Are roofing and gutter adequate for winter weather? A property survey will get you the answers to most of these questions, however it is important to be familiar with the overall condition of your home.
Do Some Research
As Park City locals, we know a lot about the neighborhoods in Summit County. To ensure we know all the relevant facts about our clients property, we personally analyze information pertaining to local zoning laws, property taxes, lot size, etc. It's helpful to note that this data can be found at your local department of city planning, or public library if you decide to pursue it yourself. If applicable, check the current terms of your existing loan as well. The more you know about your property, the better understanding you'll have about the value and the factors that effect the price going forward!
Establish your Budget
Depending on the services that you wish to receive, marketing expenses will vary. This all comes down to how much you are willing to spend to sell your house. Will you be negotiating a commission with an agent? If you're doing a For Sale by Owner, how many signs and advertisements do you need? How will the prorations be split between buyers and sellers? How much will a survey cost? Also, be aware of professional and closing fees associated with the transaction.
Establish a Strategic Marketing Plan
Marketing your property effectively is perhaps the most important part of selling your home. Placing open house signs in conspicuous locations and making your property convenient to access are some of the most effective methods that attract potential buyers. You’ll have to consider the days you want to hold an open house, and make sure to keep track of those who show interest in your property. Additionally, take advantage of the internet by advertising through social media outlets. Creating attractive advertisements, coupled with appealing photos of your property will improve buyers' perceptions of your home. Utilize any tools you have available in order to maximize your reach. You can also employ more conventional marketing strategies by placing signs in your yard, handing out brochures, or even placing ads in your local newspaper (or national in some cases). If you are working with an agent, he or she will be able to do all the heavy lifting for you. The more you actively and effectively market your property’s presence on the market, the better chance you have of receiving offers!
Once you receive an offer, it’s time to negotiate! During this phase, you’ll want to think with your head and not your emotions. There are dozens of documents that you will need to provide to the buyer, and each may have contingencies or deadlines that can make or break a deal. If you are being represented by an agent, it is up to him or her to fully comprehend and explain the contents of each document. These forms are typically provided by your agent, or by your local Board of Realtors. Remember, counter offers are a normal part of the negotiation process.