Checklist for selling a house

Homeowners coverage offers financial protection in case of accidents or damage that may occur during the sale process, which may include potential liability claims from visitors to your property. When preparing to sell your house, understand what your insurance policy covers and excludes — especially if you won't be living in your home before it sells. Until closing, when the new owners take possession of the house, any damage that occurs may be your responsibility. It's wise to keep your existing homeowners policy active when selling; don't cancel it when you're in the process of selling your house.

Begin to understand your local real estate market. Research recent home sales in your neighborhood to learn what comparable homes are selling for, which will help you set a realistic price for your house.

Set a timeline for the sale of your house. According to Realtor.com, the average house's time on the market was 50 days as of fall 2023. Market conditions fluctuate, so you must decide whether it's a good time to sell your house.

Working with a good real estate agent might be helpful. An agent can lend their expertise and knowledge of the local market trends to find the right buyers. Talk with friends and family to see if they can recommend one. Interview several agents until you find the right one. If the average 5%-6% commission rate seems daunting, you can negotiate it.

If you're working with an agent, they'll make sure you complete all the necessary documents and forms at every step in the process. If you're selling your house on your own, it's up to you to gather and complete the necessary documents. For example, you'll need a purchase and sales agreement, a signed deed, and affidavit of title proving you're the rightful owner and there are no liens on the property. If you're still paying a mortgage, you'll need loan payoff documentation.

While a pre-listing home inspection isn't required, it can be helpful when taking stock of your home's assets and flaws and should be on your home selling checklist. It will reveal what repairs and upgrades you can make to maximize your home’s selling price. Calculate an estimated cost of those repairs, and determine what's in your budget or if you want to sell your home as is.

First impressions count in real estate. Tackling smaller cosmetic flaws on your home selling checklist is simpler than larger-scale renovations and repairs, and they typically won't break the bank. Making small repairs such as repainting dull or stained walls, mending a broken fence, or doing basic landscaping can improve your home's curb appeal. Making cost-effective upgrades in the kitchen and bathroom can enhance the appeal and increase the value of your home.

If you have pets, consider repairing any animal-related damage. You never know if a prospective buyer is averse to animals or what their deal-breakers are. Removing evidence of pets can go a long way in making your home desirable to more buyers. How Stuff Works reports that your house's value can drop by $30,000 when a buyer finds out you had pets in your home. Keep these fixes and updates neutral but clean and stylish.

Larger home repairs before selling are often more involved, more expensive, and may require the help of professionals. They can become a massive undertaking and delay the listing process. However, the right repairs can increase the amount your home sells for and will likely have a high return on investment.

A clean, clutter-free space allows potential buyers to envision themselves living in the home. Remove unnecessary personal items like family photos and unique artwork to create a neutral environment that appeals to a broader range of buyers. Organizing your home adds a tidy, streamlined quality while ensuring that sentimental or valuable items are kept safely out of sight.

You could rent a portable storage container on your property or put your things in a storage unit until you're ready to move them to your new home.

Home staging can significantly impact your home's sale. Professional stagers are adept at showcasing your home's strengths while downplaying its weaknesses. Staging involves furnishing and styling the home neatly without distracting personal items. Potential buyers should be able to picture themselves living in the listed home. If professional staging isn't in your budget, consider rearranging furniture using neutral decor.

Quality photographs are essential to a successful home sale as most buyers start their search online. While taking photos of your home may seem simple, quality real estate photos require a skilled hand.

Some real estate services can help connect you with a professional photographer, particularly one with real estate photography experience who will find your home's best angles and optimal lighting.

Effective marketing is how you'll attract buyers. You can use social media to reach a wide audience, but a real estate agent can access the MLS, which is the Multiple Listing Service. The MLS is a database of real estate listings that real estate brokers create to share information. Other agents in the area have access to the MLS, and they bring their buyers to view your house.

You'll have to create a compelling listing description highlighting the best features your home has to offer, and it should include clear, beautiful images of the property.

Regarding scheduling showings, you'll need to be flexible with your schedule. Be sure to keep the house clean and ready for a viewing at a moment's notice. You may want to start by hosting an open house event to attract potential buyers.

Selling a home involves a lot of paperwork, which includes legal and financial considerations. Your agent will ensure you've got the documents your state and municipality require, such as seller disclosures and homeowner association documents where these are required. Prospective buyers will likely hire a home inspector and may want to negotiate repairs or price changes based on the inspector's results. Learn about the home inspection process.

As purchase offers come in, evaluate them carefully. Consider the price, the buyer's contingencies, and the closing timeline. Negotiating on price is an accepted part of the home selling process, so be prepared with a counteroffer. Once you accept an offer, the home closing process begins, typically involving your agent, a title company, the buyer's agent, and real estate lawyers.