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The Home Selling Process

Are you planning to sell your home in Coeur d'Alene or North Idaho? Here are 10 steps of the home selling process. Selling a home can be long and stressful process. We hope this makes it easier to understand and navigate the process so it's less stressful. If you have any questions or need help with selling your home, please contact us.

Image of Analyzing Needs and Wants for Your New Home STEP 1: Deciding if Your Ready to Sell

The very first step is to figure out if you're ready to sell your home. There can be many reasons to sell and you should identify which is yours. Make sure you have enough equity to sell and cover expenses. After the sale, you will need to have a solid plan on where you're going as well.

Image of Getting Pre-Qualified or Pre-Approved STEP 2: Preparing Your Home for the Market

Before listing your home for sale, make sure you clean up a bit. You may need to make some minor repairs like replacing window screens or broken outlet covers. You can read our 7 Steps to to Selling Your Home for some pre-listing advice.

Image of the Adair Real Estate Team Logo in Coeur d'Alene STEP 3: Hiring the Right Realtor

Most people use the first Realtor they meet but choosing a Realtor should not be an easy decision. We always recommend interviewing more than 1 Realtor. This leads to most home Sellers having a bad experience. When you interview an agent, make sure they meet your requirements.

Image of Finding A Home STEP 4: Marketing Your Home

After you have hired a Realtor and established a price, its time to market the home. Understanding where buyers are searching is essential for your home to get the most exposure. Studies show 90% of buyers search online. Our 7 Steps to Selling Your Home includes an extensive online marketing plan.

Image of Making an Offer in Real Estate STEP 5: Receiving an Offer!

After you receive that full price offer, there are still some things that will need to be done. There are a lot of details in a Real Estate offer so you should talk with your Realtor about every aspect. Make sure you clearly understand your bottom line, what inspections will happen, which party will be paying for closing costs and closing date before you accept.

Image of Negotiating The Offer STEP 6: Negotiating the Offer

You can either accept the offer or start negotiations and make a counter offer. This is very common in real estate and you should have a Realtor who completely understands your situation, goals and bottom line. There are many areas in an offer that can be negotiated. Even after the offer, there are more negotiations during the Inspections and Appraisal process.

Image of Real Estate Vendors Home Inspection STEP 7: Inspections and Appraisal

Once your accept an offer, inspectors, appraisers and other maintenance personnel will come into play. Not all are the same and your Realtor should be able to help you find reputable vendors in the area.

Image of Pre-Closing Homework STEP 8: Pre-Closing Homework and Checklist

There may be a few weeks that pass during the inspection and appraisal processes. During this time you should be preparing for your move. Make sure you have everything ready to go before closing day.

Image of the Closing of Your New Home STEP 9: Closing on Your Home Sale

Closing is a process that takes place at the agreed upon title and/or escrow company. All documents are reviewed, signed and the title is transferred. Once the money is paid out and transaction recorded, the buyer receives the keys.

Image of Post Closing To-Do's and Advice STEP 10: Post Closing To-Do's and Advice

Once you have sold your home, there are still some things you should know. Make sure you transfer utilities, get a mail forwarding and have everything prepared for your taxes. Understanding taxes when selling is very important. You may want to meed with a tax adviser to make sure you don't end up owing at the end of the year. Your Realtor should be able to help or advise you with these.