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A Complete Guide to Selling Your Home in Denver

If you’re thinking about selling your home, you’ve probably considered where the best place to start is. Selling a home is no small feat. It can be time consuming and, honestly, a little confusing when you first start out. Selling your home is a major step in life. When it’s time for that to happen, you want to make sure it is done the right way and with as little stress as possible. There are so many factors to consider and things you’ll want to check off your list.

But once you’re sure that selling your home is the right thing for you, you’ll need to follow some simple steps to ensure the process goes smoothly. Here we’ll discuss some of the key steps you’ll need to follow and how to get your home sold properly in Denver.

Step 1: Choose the Right Real Estate Agent

This is arguably the most important step of this entire process. The quality of the real estate agent you choose will ultimately determine how the process of selling your home goes, so it’s important to choose wisely. There are a few things you’ll want to consider when finding the right real estate agent for your needs.

For starters, you should find out if the agent hires professional photographers to take pictures of the home. This is important because you want your home to look its best once posted for sale online. This is the first impression on potential buyers and one that can make or break a deal. Prospective home buyers judge a home by the pictures available online, so it’s crucial to have high quality and professional images available for them to view.

You might also want to ask them how many homes they sell per year and how does that compare to the average. This will give you an idea of how successful the agent is at selling homes, which is exactly what you want to have done. If an agent has a low selling rate compared to the average, it’s probably a good idea to continue looking for other agents who have a better rate.

Finally, you should ask how the agent plans to promote your listing. There are a few different ways an agent might choose to do this, but you want to be clear with your agent on the method they will be using and determine if that is the best option for your personal situation. It also needs to be able to give your home the exposure it needs in order to be seen by the most potential buyers possible to increase the likelihood of it being sold.

Besides traditional marketing methods like listing on a real estate MLS, a dependable agent will make use of modern strategies such as social media advertising, videos, virtual tours, and drone photography.

Step 2: Prep Your Home for Sale

Once you’ve decided on the real estate agent that you’ll be working with, you’ll want to make sure that your home has been properly inspected. In most cases, the buyer will have this done before they move in, so you want to make sure you take the necessary steps to repair any issues that an inspection will reveal. This includes updating appliances, plumbing needs, and handling any electrical and heating system needs.

Next, make your home look brand new again. This can be done by doing a deep clean on the home, fixing holes in the walls, steam cleaning carpets, reapplying paint, etc. You can also work to remove personal items, which will help to make the home look more neutral. This is what helps to make it easier for a buyer to view themselves living in the home. Some tips to make this easier include:

  • Remove family photos
  • Take down decorations that are unique or loud in style
  • Repaint rooms that are bold in color
  • Put away any children’s’ toys or pet products

Staging your home is another step you’ll want to take to ensure that the buyers can envision themselves living there. Staging your home requires that you rearrange or remove furniture so that it creates the ideal presentation for the prospective buyers.

Last, make upgrades to your home before you list it. Upgrades can include things like new kitchen counters, upgraded appliances, new doorknobs, etc. These features will help your home be able to compete against other homes that are already up on the market.

Buyers usually look for homes that are up-to-date with new features and appliances. However, before you invest too much in upgrades, make sure you work with a Denver real estate agent to learn the status of the market. In a seller’s market, you may have such an influx of interested buyers that you don’t really need to win them over with new kitchen cabinets and energy efficient windows.

Step 3: Choose a List Price for Your Home

This might seem like one of the hardest parts of the selling process. You want to make sure you choose the most accurate price for you home initially, so that you can cut back on the time your home is on the market and increase the likelihood of selling your home in a reasonable amount of time.

In order to do this properly, you want to educate yourself on the Denver, Colorado real estate market trends specifically. A good real estate agent will help you find comparable homes and determine the most appropriate listing price for your home and its value—all while remaining competitive on the market for homes that are comparable to your own.

A comparable home will be within your neighborhood, be about the same age as your own home, have a similar style and features, as well as be the same size with an equal number of bedrooms.

If you’re still having trouble deciding what your listing price for your home should be, check out our free home valuation tool to get an instant estimated range for your home’s value.

Step 4: List and Promote Your Home

When you’re ready to list your home for sale, Walden Novak can work with you to ensure that it is done properly. Listings go live on Wednesdays in the Multiple Listing Service or MLS, and showings are held on Friday. This allows us to sync with other major home search websites like Homes.com, Realtor.com, Zillow.com and others.

Next, we’ll remove the “coming soon” sign that will have previously been put onto the yard sign during its pre-listing phase, and high quality brochures will be added in its place. These are great for providing potential buyers with even more information that they can take home with them and view before deciding to take a tour of the home. It’s also a great way to showcase your home’s best features to encourage buyers to take the next step in the process.

Once your home is advertised on some of the top home search sites, we’ll provide targeted advertisements of the upcoming open house on Facebook, Instagram, Twitter, and other social networks. We’ll even create a unique video titled “Our 4 Favorite Things about This Home” and share it all over social media.

All of these efforts combined are estimated to reach a total of anywhere between 5,000 to 10,000 people.

Step 5: Consider the Offers

After seeing your property, an interested buyer will then be able to submit an offer for the home. This is the exciting part. Buyers are now interested in your home and you will begin receiving offers for it.

This can seem a bit overwhelming at first, especially if you’re not sure exactly what to do. You also may not have very much time to decide whether or not to accept an offer since some contracts require the seller to be able to respond within 48 hours or less. This is where your real estate agent will be able to give you some much needed advice and guidance.

The offer will usually be written and outline all of the terms for the sale. It is up to you as the seller to determine if any of these terms are unacceptable. If you find that this is in fact the case, you can make a counteroffer and include the changes that you would like to make.

When reviewing the offer, make sure that you consider more than just the offer price. It’s a good idea to be aware of the down payment amount, the loan type, and the pre-approval letter. All of these factors are important when it comes to accepting or declining an offer on your home.

When a potential buyer has very little savings and has had trouble with obtaining a loan for the home, it could be an indicator that the deal may fall through. Walden Novak will be able to help you when it’s time to consider the offers on your home to make sure that you make an informed decision.

Step 6: Disclose any Defects with the Home

It is the law in Denver, Co to disclose to a buyer any known problems with your home. If you choose purposefully to withhold any known information about such issues, the buyer has the right to file a lawsuit against you.

This is why it is very important for you to have your home inspected and checked for any issues so that you can relay this information to your future buyer or solve any issues before the home is even listed on the market.

As stated before, things to check for would be problems with electric or heating systems, lead paint in older homes, appliance issues, etc. Having a proper inspection done by a professional will allow you to identify any issues with the home and have them fixed, so that they don’t become a problem for you or the buyer in the future. Attention to detail at this point prevents headaches and mishaps down the road.

An inspector can help you uncover hidden issues with the house that you might not have known about without a professional opinion. For example, mildew and mold stains can really scare away buyers, especially since toxic black mold has become such a big issue to look out for. In most cases, you can expect to not get many offers if there are visible mold stains in your home. This is something an inspector can point out for you so that you can get it removed.

Damp basements can also be an issue for buyers for the obvious reason that they are unwelcoming. A damp basement can also indicate to the buyer that the home is prone to flooding. This isn’t a good signal for buyers and most of the time they’ll stay clear of a house that risks water damage.

An inspector can also check to make sure that your roof and chimney are in good shape. One of the first things a potential home buyer sees when coming to view your home is the roof and its condition. It’s easy to spot damaged shingles and debris in the gutters. Have a professional inspector examine the roof of your home and let you know if it is in need of repairs.

You might also want to clean the gutters out yourself to save money and have the home look as presentable as possible. Remove any traces of leaves or twigs from the roof and gutters so that you also have proper drainage for the rainwater to flow toward to downspouts. This will help to cut back on leaks in the roof and water damage that can be visible inside of the home.

Making sure that the inside of your home is beautiful is crucial, but the outside of your home is the first impression buyers will get, so it’s important not to neglect it.

Step 7: Accepting the Purchase Agreement

The last document is the signed purchase agreement. It will contain all the terms that were previously agreed upon between you and the buyer for the sale of the home. Once this has been executed, it becomes a legally binding document and a contract to purchase.

This information should also include the timeframe and selected dates for inspection, as well as any disclosures necessary. The buyer and seller are able to negotiate these dates if needed.

Step 8: Conduct any Post-Contract Negotiations

Purchase agreements usually contain contingencies, which are issues that must be resolved before a final deal is made. An example of a common contingency is one having to do with things that were found through a previous inspection. An inspection can discover many issues within your home and it’s important to address these issues if possible, or at least make sure that the buyer is aware of them. As the seller, it will be up to you to decide whether you will fix the issues that were found, adjust the sales price, or do nothing.

It is a good idea to address the issues properly by having them fixed to allow for a smooth selling process and to ensure that the buyer is happy. But if you are unable to do so, adjusting the sales price may suffice for the buyer.

It is important that these things are discussed openly and agreed upon with the buyer of the home so that there are no misunderstandings. Remember, misunderstandings or unhappy buyers can lead to a lawsuit later down the line for any issues with the home that are not addressed with them or disclosed during the initial buying process.

Step 9: Close the Deal

The final step is to close the deal. You are at the finish line. What you’ll want to do at this point is make sure that all the documents have been signed and pay the seller’s fees and any liens.

As soon as the buyer’s lender approves the deal, you can schedule the closing with the title company. The best time to do this is usually from Monday morning through Thursday, in order to expedite the transfer of the funds. The title company will then forward all of the buyer’s signed documents over to the lender and you will finally receive the payment. There are a couple of things you will want to make sure you bring with you when closing the sale of your home:

  • All keys including the garage door opener
  • A photo ID such as a driver’s license or passport
  • The deed (if you own your home outright)
  • Receipts for any repairs made on the home
  • All applicable appliance documents

The entire process of selling your home can seem very complicated and stressful, but it doesn’t have to be. As long as you use this guide and follow the steps you will find the process to be very smooth and incident free. If you’re still feeling uncertain about what to do to get your home sold the right way, check out our post on how to sell your home the right way fast, for more helpful tips and strategies.

There are many ways to go about selling your home, but one of the sure things is that starting with a reliable real estate agent is the key to success. Your agent is the key factor to determining whether you have a pleasant selling experience or a nightmare.

We’d love to be the ones to help you have a fast, happy, and fruitful sale of you Denver home.

 

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