Article | Homeownership
Tips and Resources for Selling Your Home
From listing and showing the home to negotiating offers, check out our tips on selling your home.
Decide how you’re going to sell your home.
Most people choose to list and sell their home with a licensed real estate agent. Agents can be found through referrals from family and friends, or from searching through local online listings. Real estate apps like Realtor®, Zillow®, and Trulia® are also a good resource for finding agents in your area. Remember to look at online reviews and conduct interviews as you consider various agents and make your decision. Selling your home without a licensed real estate agent (for sale by owner) is also an option and may save you from having to pay a commission – however, this option will require significantly more work on your part, and you may need to retain the services of an attorney to complete the transaction and protect your interests.
Determine your listing price.
Pricing your home appropriately is a crucial step to a successful sale. Those same real estate apps you used to find a real estate agent are also extremely helpful for reviewing the listing prices of other comparable homes in your area. Make sure to pay attention to things like square footage, age of your home, and property size. Your agent should be able to assist you with determining a listing price, but ultimately the choice is yours. Remember that listing prices can always be reduced, but they are rarely ever increased! You may also want to verify the payoff amount on your home loan, so that you have a good idea of the amount you will receive from the sale after the loan has been paid, along with any agent commissions or other fees.
Prepare your home for sale.
Prior to listing your home for sale, you will want to make sure that your home looks it’s best! Some things you can do to boost curb appeal and make your home stand out include:
- Making minor maintenance repairs
- Keeping the lawn mowed
- Shampooing the carpet
- Cleaning the exterior of your home
- Washing all windows
- Touching up wall paint
- Cleaning curtains and blinds
- Sprucing up landscaping
- Optimizing interior space
Make sure to also have high-quality photographs taken to showcase the beauty of your home when it’s time to list – while many smartphones do have high-performing cameras, this step is generally best done by a professional real estate photographer.
List your home for sale.
Once you’re ready, list your home for sale! Work with your agent to make sure the specific details of your home are displayed accurately on all marketing platforms. Social media sites such as Facebook® and Instagram® can be used to help market your home. You may also choose to list on sites that specialize in manufactured housing like MHVillage® or TheMobileHomeMarketplace®, or to utilize printed listing options such as local newspapers or magazines.
At this point, you’ll also want to reach out to your lender to inform them of your intentions to sell your home and provide a forwarding address for any communications that need to be sent to you after your closing!
Show your home.
As you get interest from potential buyers, you’ll need to schedule showings so they can view your home. While many agents will handle this process for you, apps like ShowingTime® allow you to accept, decline, or recommend showing times based on your schedule. Remember to be flexible – weekends are typically the best time for most potential buyers to tour a home, so making your home available at the most convenient times will likely increase the number of showings you will have.
Review offers and negotiate.
As you begin to get offers on your home, work with your agent to negotiate the best terms, but be prepared to also make concessions if necessary. Common items that are negotiated after receiving an offer include price, repairs, seller paid closing costs, and closing date. It’s not uncommon to have multiple rounds of back-and-forth negotiations between the buyer and the seller prior to both parties agreeing on the final terms.
Accept an offer and close the deal.
Once you accept an offer, communicate regularly with your agent to get to the closing table as quickly as possible. Generally speaking, after an offer is accepted, a home inspection and appraisal must be conducted prior to the closing being scheduled. At closing, the title company will make sure that your lender is paid in full -but make sure to call your home insurance provider, cancel your insurance policy, and provide a forwarding address for any refunds that are due to you, if applicable.
Use buyer resources.
If you have someone interested in purchasing your home and they are in need of financing, there are a number of resources available for them to consider. They may decide to obtain financing through a local bank or lender, or to look for a lender online. Vanderbilt Mortgage and Finance® offers financing options for qualified buyers as well. Potential buyers are welcome to apply online at vmf.com, or you may click here to download a credit application to give to them.
Vanderbilt is here with you every step of the way! If you have any questions, please contact our Customer Service Department at 1-800-970-7250! Our office hours are Monday through Thursday, 8:30AM to 8:00PM and Friday, 8:30AM to 5:30PM (EST).
Article | Home Buying
Article | Home Buying
Guide | Homeownership
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