We understand that selling a home can be a daunting task, but when you have an organized list of tasks laid out in time-line order it can seem a little less so. This home sellers checklist will keep you on track and ahead of the game. From the day of hiring your agent to closing day, we’ve got you covered!
Hire the right people
Selling your home is no small task. With everything on your home seller checklist, finding time to market, repair, and staging your home might be too much. We recommend hiring a real estate agent to help you sell your home and to give you insight on the market. Make sure to do your research because you will be working closely with this person so trusting their expertise is crucial. Here the most important questions to ask your potential real estate agent:
- What is your marketing strategy for my home? Will you offer virtual tours to prospective buyers?
- What separates you from the competition?
- Can you ensure I will be able to review all documents prior to closing?
- Do you tend to represent more buyers or sellers?
- Can you provide references?
Consider the location and condition of your home
When gathering information to be able to decide your home’s worth, honestly look at your own home’s condition. You will need to consider the improvements necessary to make sure your home is able to pass inspections. Does it need a new roof? Are there damp spots coming from the ceiling? These types of things will decrease your value. Another huge thing to consider is your location, homes that have excellent school programs and lively communities, for example, are priced higher than homes in other areas.
Calculate your home equity
Home equity is the current market value of your home, minus what you owe. Since it can help you buy your next home, this is one task on your home seller checklist you’ll want to check off early. Gains in equity come from increases in market value, improvement projects, and by paying down your mortgage while losses primarily stem from market decreases. Your Realtor® will do a CMA (Comparable Market Analysis). What is a CMA? It is where your agent gathers information from comparable properties to determine an opinion of how much your house could sell for.
Prepare to spend
Whether it’s repairing squeaky floors or replacing them entirely, preparing to sell a home requires initial investments. Make sure you’re ready financially by creating a budget and sticking to it. Here are some expenses on your home seller checklist that you should prepare for:
- Title insurance — Depending on the state, you could be asked to pay the buyer’s title insurance upon selling your home. These costs can fluctuate depending on your location and title company.
- Broker commission/fee — Brokers and agents charge a fee for selling your home. Generally, it’s a percentage of the selling price. The national average is just over 6%, but remember that it fluctuates depending on the region and type of property being sold.
- Home inspection — The buyer can pay for a home inspection, but it’s in your best interest to do a pre-sale inspection before listing your home.
- Repairs and projects — Many structural repairs should be paid for by the seller. We’ll get into the nitty-gritty of who should pay for what in just a moment.
Prepare your home
Make all necessary repairs
Been meaning to tighten those loose doorknobs or patch up some superficial cracks? Check these off your home seller checklist before the inspection to save money and increase the chances of selling your home at the price you want.
Get a pre-sale home inspection
Checking the home inspection off your home seller checklist before you market your home gives you time to make the necessary repairs and helps you to price your home appropriately. If you wait until the buyer calls for an inspection, however, you’re on a time crunch to make repairs within your budget.
Price your home fairy
As we mentioned earlier, a lot goes into pricing your home. Thanks to your handy home seller checklist, however, you have your CMA in hand and you know where your home stands relative to your neighborhood’s housing market. If in doubt, price your home on the lower side. This will open the door to bidding wars. Plus, reducing the listing price is never a good look.
Pass all inspections
Depending on the state you live in, you’ll have local inspections to pass. These generally involve properly installed and functioning smoke and carbon monoxide detectors, along with a septic system and well inspection.
Remember curb appeal
Never underestimate the power of a first impression. When it comes to selling your home, be sure to grab potential buyers from the get-go with your home’s curb appeal. While mending your driveway, walkway, deck/porch, and the outside of your home, remember that a little landscaping and lighting go a long way.
Make the most important repairs
Repairs that home sellers are required to make
While the seller is only required to make the repairs listed in the purchase contract after an offer is made, you should be prepared to fix any structural defects, building code violations, and safety issues. It’s a good idea to repair these before the buyer’s home inspection, so keep them in mind as you work through your home seller checklist.
Repairs that home sellers should make
Okay, so you might not have to pay to repair the porch or fix that light switch leading to nowhere, but you’ll probably want to. Why? To help sell your home for the asking price. Put yourself in the shoes of the buyer. Would you want to pay top dollar for sagging front steps and missing shingles? Probably not. Don’t lose out on a sale by skimping on repairs.
Repairs that home sellers can negotiate
Outside of these two categories lie a variety of requests the buyer can make. Since much of the negotiation depends on the status of the housing market, your agent is your greatest resource. The more buyers there are competing in a seller’s market, the more leverage you have as a seller. Discuss the repairs with your agent to determine your best options and negotiation strategies.
Get your home show ready
Refresh the walls
Changing the paint color is an easy way to breathe new life into your home. It also helps you appeal to a broader range of potential buyers. You might love the paisley wallpaper, but everyone’s tastes are different. To be safe, stick with fresh, neutral colors.
Be aware of any odors
You may not notice the smell of your poodle, but a buyer will. Just as you did with the paint selection, keep your home as appealing to the masses as possible. Make sure it smells good by opening windows, taking the garbage out regularly, cleaning out pet areas or setting your furry family members up at a friend’s home.
Make valuable upgrades
Updating your home is an important item on your home seller checklist. There’s rarely been a more lucrative time to upgrade your flooring, change out the kitchen backsplash, and update those light fixtures. These small investments can offer large payouts when it comes to pricing your home.
Hire a staging company
As we mentioned earlier, hiring a staging company can push your home above the competition. While seeking out the best designer for you, ask around for reviews from friends and family. Take a look at different home stagers’ portfolios online and be sure to interview them before hiring.
Remember the details
These simple tasks on your home seller checklist can make a big difference. Small chores such as changing light bulbs, oiling squeaky hinges, and cleaning light fixtures and fans can make a home seem newer than it is. Since age plays a role in pricing your home (the newer the better) focusing on these little details could help your home sell.
Remove excess furniture
A cluttered room feels smaller. So, to help potential buyers soak in the space, clear out any unnecessary pieces of furniture. Have excess chairs in the dining room? Move them out of your home to make the room look bigger and more spacious.
Remove or hide your personal items
One of the more difficult items on your home seller checklist involves de-personalizing your home. By removing family photos and trinkets, you let potential buyers envision their own items in the home. Also, remember to hide any jewelry and valuables. Since you’ll likely have strangers passing through your home when you aren’t there, it’s best to keep your valuables out of sight.
Stage and show your home
If you’re selling your home without an agent, this step on your home seller checklist is for you! It’s time to start marketing your home with newspaper and online ads, virtual tours, and open houses. So, start by getting professional photographs taken and list your home on the multiple listing service (MLS). You’ll likely have to pay a nominal fee, so shop around for different services to help you successfully market your home.
Home Seller Checklist: While Your Home is on the Market
Keep your home show ready
You’re making your way through your home seller checklist and you’ve gone to all the effort of sprucing up your home. Potential buyers can come by on short notice, so try your best to keep your home show ready. Here are some simple ways to keep your home looking its best:
- Make the bed daily.
- Take the trash out often.
- Put your things away as you go.
- Put laundry in the hamper and wash it regularly.
- Have somewhere to go — a family member or friend’s home — for yourself, kids, or pets if the home is shown last minute.
Stay in the loop
Keep in touch with your real estate agent or broker and touch base at least every two weeks. If there’s any activity such as an interested buyer or an offer, you’ll want to know about that too. It’s also good to ask your agent for any feedback they might have themselves, or from the buyer’s agent, after a house showing. Selling your home could have a simple fix.
Home Seller Checklist: Once You Accept an Offer
You received an acceptable offer and your Realtor® prepared the Contract of Sale. After accepting the offer, you’ve taken care of all requested repairs on the purchase contract, and your Realtor® is ready to continue the process. These are the final pieces of your home seller checklist that bring you to closing.
Pre-closing steps
Prepare for a final walkthrough
This is the last opportunity buyers have to check the condition of the home. Make sure you’ve made all of the necessary repairs listed in your purchase contract before the final walkthrough and that all of the agreed upon items (furniture, appliances, etc.) the buyer requested are in the home and in good condition.
Prepare your home for move-out
Close up shop
You’ve sold your home. Congratulations! The last collection of tasks on your home seller checklist prepares your home for new occupants and protects the home while it’s empty. Once all of your personal belongings are out, make sure all water valves are closed, the home is thoroughly cleaned, and all appliances are unplugged and drained. Consider leaving a note for the buyer so they know the water is turned off and not broken.
An empty home can be an invitation for unwanted guests. Before walking out the door, double check that all of the doors and windows are locked and the curtains and blinds are closed. Finally, go through each closet, cabinet, and drawer to make sure you don’t leave anything behind. Turn the lights off before leaving and lock the front door when you go.
Show up to closing prepared
Today’s the day! It’s time to close on selling your house, so make sure you have everything you need to keep the process moving. This is the final to-do on your home seller checklist and the last step in transferring ownership of your home over to the new owners. The date has been set for weeks, giving you plenty of time to gather the necessary items. Remember to bring these six things with you to closing:
- Driver’s license/ID
- Purchase contract
- Your checkbook
- Your keys
- Final utility bills that need to be settled/paid
And that’s everything! There’s a lot to do, so keep this home seller checklist nearby as you go. With all of your tasks in one place, you’ll be checking items off and breezing through the selling process in no time.