Your house is too small. Your house is too big. It’s in the city and you want to live in the country, or it’s in the country and you want to live in the city.

Whatever reason there is, you want a ‘for sale’ sign in your front yard. You probably will never sell anything more valuable than your home. This means you’ll want to get the most from your long-term investment.

Where and how do you begin this process?

Getting Ready to Sell

• Clutter Removal
• Assessing the Exterior of Your House

Selecting an Agent

• Why hire a Real Estate Agent
• Which Realtor should you choose?
• What to Expect from a Real Estate Professional

Setting Your Price

• Study the Comparables
• Get an Appraisal

Showing your House to Potential Buyers

• Leaving During a Showing
• Lighting
• Fragrances
• Pet Control
• Kitchen Trash
• Keep the House Neat and Clean

The Contract

Key Elements of the Sales Contract

• Price and terms
• Condition of home and inspection
• Response deadline
• Settlement date and occupancy
• Finalizing

Preparing for the Close

The first step in getting your home ready to sell is to "de-personalize" it. A house can be a place to eat, sleep, park your car and put all your "stuff" (including other family members). A home is where you feel comfortable, warm, safe and protected. A home is where you live.

De-personalizing your home allows a potential buyer to perceive your house as their potential home. Removing family elements such as photos, sports trophies, collectible items, knick-knacks and souvenirs allows the buyer to picture it with his “stuff”, thereby putting his “brand” on the home. You might want to store these prized family items in an air-conditioned storage.

Clutter removal

Part of preparing a house for sale is removing the "clutter.” Through the years, you’ve amassed a significantly large quantity of “stuff.” Remember when you first looked at your new home? You opened the cabinets, pulled the drawers and opened closet doors. Your buyers will be doing the same thing, so getting rid of the extra stuff that has gathered over the years will help your house look ready for its next owner.

Areas especially vulnerable to attacks of opening and examining are:

The kitchen – clean out the pantries, cupboards and shelves – keep trashcans hidden and of course emptied.

Closets – Closets are great places for accumulating “stuff”. Extra clothes, shoes and accessories that may not have seen daylight for sometime can all be boxed and placed in storage. Cleaning this space out also makes your closets look bigger – a huge item on any buyer’s list.

Furniture Clutter – A room can look overcrowded if you have it full of furniture. That big over-stuffed sofa or your favorite worn, but comfortable recliner may need to find a temporary home when showing your house to prospective buyers. Again, remember, the buyer wants to envision his or her own favorite pieces in the house. You may want to tour some builder’s models to see how they place furniture in the model homes. You can then get an idea of how to place your own furniture to provide the maximum effect – getting an offer.

Storage Areas – These are favorite places for “stuff” to gather. Like magnets, basements, garages, attics and sheds attract whatever doesn’t go into the living room, bedrooms, closets or kitchen. Things like Uncle Henry’s old bowling ball, Aunt Hilda’s sketches of her parakeet or even your “Elvis is alive and well” poster. This might be the perfect time to have that garage sale you’ve been putting off. Cleaning up and cleaning out will dramatically enhance your selling efforts.

Plumbing and Fixtures – check all fixtures to make sure they turn easy and that faucets do not leak. The fixtures should look as shiny and new as possible.

Ceilings, walls and painting – Check your walls and ceilings for water stains. Sometimes old leaks leave stains, even after the leak has been repaired. If you should find a leak, of course have it repaired. Painting can be your best investment when selling your house. A neutral color – beige, cream, ivory or standard off-white will allow your buyers to picture your house with their color schemes. The lighter color also adds brightness to the rooms and makes them appear more spacious.

Carpet and flooring – Unless your carpet appears old and worn, or is definitely an outdated style, hiring a good carpet cleaner may be all you need. If you choose to replace the carpet, find something inexpensive in a fairly neutral color.

Windows and doors – Check all windows and doors to make sure they open easily and without noise. Invest in a can of WD-40 and spray all the hinges to ensure that each opens smoothly. Check your windows for cracked or broken windowpanes. Of course, this would be a good time to clean them allowing your rooms to be bright. As potential buyers go from room to room, someone will open each door and you want to do everything necessary to create a positive impression.

Odor Control -- For those who smoke, you might want to minimize smoking indoors while trying to sell your home. You also could purchase an ozone spray that helps to remove odors without creating a masking odor.
Pets create odors that you may have become used to, but are immediately noticeable to those with more finely tuned olfactory senses. If you are a cat owner, be sure to empty the kitty litter box on a daily basis. There also are products that you can sprinkle in a layer below the kitty litter that helps to control odor. For those with dogs, keep the dog outdoors as much as possible. You might also try sprinkling carpet freshener on the carpet on a periodic basis.

Why hire a Real Estate Agent

Selecting an agent is one of the most pivotal decisions when selling your home. It is important to seek advice about this important financial transaction from someone who "sells" houses for a living.

Working with professional real estate agents is beneficial for several reasons:

• They will help establish a fair asking price for your house.
• They will promote your house to other agents and list your property in multiple listing services so your house will receive maximum exposure.
• They will create, pay for and place advertising for you.
• They will schedule appointments to show your house to prospective buyers even when you are not there.
• They can weed out buyers who will not qualify for a mortgage.
• They can refer you to sources for insurance, inspections, legal counsel and financing.
• They will help negotiate with the buyer.

Study the Comparables
You are more likely to benefit by determining a fair value and sticking close to it than by asking an unrealistic figure.

Under pricing can deprive you of money that’s rightfully yours. Unless rushed, aim for full market value.

Be cautious of either overpricing or under pricing if you rely on less-than-solid information. Know your competition. Learn the offering and selling prices of similar properties. Find out how long each took to sell.

Compare your home to others close in age, style, size, condition and location. Timing is all-important. If market demand is high, you should be able to increase the price. Sales prices of homes are published in local or regional sections of newspapers.

Get an Appraisal
Appraisal opinions are subject to honest dispute. Generally, an appraisal prepared by an experienced, licensed professional comes as close to an objective evaluation as you can get.

Showing your House to Potential Buyers
Your house should always be available for a potential buyer to see, even though it occasionally may be inconvenient for you. Your agent will probably suggest a lock box placed in a convenient location that will make it easy for other agents to show your home. Most agents will call and give you at least a couple of hours notice before showing your property.

Leaving the house
Potential homebuyers may feel like intruders if you are home when they visit, and they might not be quite as receptive toward viewing your home. Visit the local coffee house, yogurt shop or take the kids to the local park. If you absolutely cannot leave, try to remain in an out of they way area of the house and not move from room to room. Allow your agent to do all the talking – but do answer any questions the agent may ask.

Lighting
When you know someone is coming by to tour your home, turn on all the indoor and outdoor lights – even during the day. At night, a lit house gives a warm, inviting impression when viewed from the street. During the daytime, turning on the lights prevents harsh shadows from sunlight and it brightens up any dim areas. Your house will look more receptive to the buyers.

The Contract
A valid real estate contract must be in writing and be freely offered by the buyer and accepted by the seller. All parties to the contract must be legally competent to do business. Money or other valuable consideration needs to be exchanged for title to the property.

Keep in mind that if things go wrong, the buyer could require you to sell your home to him/her or pay damages. Be familiar with the terms of any contract you give to a would-be purchaser.

Consider the contract as a whole. Is it slanted in favor of the buyer? If so, consult an attorney about making changes. Analyze the document as a series of paragraphs or clauses, each written to benefit one party or the other.

Key Elements of the Sales Contract
Price and terms
If a low offer comes your way, remain cool until you've examined the terms. Nothing evokes a more emotional response than a low bid. Be realistic and objective because many properties don't bring full price. Don't use price alone as a reason not to counter or negotiate. A first offer may reveal what's most important – price or terms – to this particular buyer, giving you the key to begin bargaining.

Condition of home and inspection
The purchaser should have your home inspected for soundness of construction and state of repair. Include all mandatory and voluntary disclosure statements concerning the property's condition, such as known defects in the contract.
Be careful what you guarantee. You cannot be sure the roof won't leak, the heating system won't go out or any other number of such assurances. Once the property is sold, you are no longer responsible for it.

Response deadline
You'll be asked to respond to an offer within a specified timeframe. Try to get as long a response time as possible. Other offers may come up and you'll want to buy time to review them and perhaps use one offer to increase another.

Settlement date and occupancy
If you have another home under contract, ask for a settlement date that will enable you to take your sales profits to the next closing. Be realistic; the buyer of your home probably will need at least 30 to 50 days to arrange financing and close.

Finalizing
Everything in the offering contract is negotiable. When everyone has agreed to the terms, initialed the changes and signed the contracts, you've got an agreement binding on all parties. All that remains is removing contingency clauses, arranging financing and clearing title.

Preparing for Closing

As the seller, you have relatively little to do at this point. Avoid common glitches by keeping abreast of progress on both sides.

Be aware if the buyer is having trouble getting a loan on the terms specified in the contract. If he/she is turned down, it could jeopardize the whole deal and your house could be put back on the market. A day or so before closing, make sure all the necessary papers and documents have been gathered and are in the hands of the right parties.

Things can go wrong. Documents can be misplaced, delayed or lost. However, common last-minute difficulties can be avoided.

Parties who should be present at closing need to be informed of any change in the date, time or place. They should be reminded a week before closing and again the day before.

Everyone named on the deed under which you hold title must sign the new deed by which you grant title.

Know when and how you will be paid. Don't expect to walk away from the settlement table with a check in hand.

If you are buying another property, consider having both closings at the same office scheduled back-to-back. That way, the timing of the disbursement is not a problem. You sign a paper authorizing the title company or attorney to assign the funds from sale to purchase.

The papers you'll need:
A copy of the sales contract and documentation showing that any contingencies have been removed or satisfied.

All documents needed to complete the transfer of title. This may include certificate of title, deed, correcting affidavits, quitclaim deeds, survey and title insurance policy.

Prorations for ongoing expenses such as insurance premiums, property taxes, accrued interest on assumed loans and utilities (if not shut off between owners).
Receipts showing payment of the latest water, electric and gas bills.
A certificate from your lender indicating the mortgage balance and the date to which interest has been prepaid