Planning on selling your New Orleans home? If you’re a first-time home seller, it’s important to familiarize yourself with the various steps and important information involved in the home-selling process.
Here are a few tips that may help you:
Seek professional guidance – hire a real estate agent!
When you’re working with a trusted agent, you can market your home much more effectively, leading to a better deal between you and your potential home buyer. In case you don’t know any real estate agents, ask around – some of your friends or family members might know someone. Choose an agent who is very familiar with the area, and is up to speed on current NOLA market trends, like one of our Realtors at Elite Southern Realty.
Find out how much your home is worth
Determine the ideal selling price for your home by having it appraised and by having your listing agent do a comparative market analysis. This will give you a better idea of what your asking price should be. Your agent will consider numerous factors, including the asking and selling prices of comparable properties in your neighborhood, the current state of the market (locally, regionally and nationally), and so on.
Get your home prepped
It’s always a good idea to get a home inspection to find out what repairs are needed. There may be big issues that you’ll want to get fixed before you put your property on the market. You may also want to upgrade some of your home’s features – consult with your agent on whether doing so will help increase your home’s value and remember that some upgrades have a better return on investment than others.
Complete the necessary disclosure forms
As it is in other states, sellers in the state of Louisiana are required to fill out disclosure forms in order to inform potential buyers about any of the underlying issues a property may have, especially if they are major concerns such as problems with the home’s foundation, electrical issues, or anything similar. If you want to find out more about disclosure obligations, take a look at the act here.
Carefully review each offer
Take a look at each offer you receive, and take your time until you come up with one you deem is the most acceptable. Price is important, but make sure to look at other details in the offer as well. Consider making a counteroffer, and be prepared to go through negotiations between you and the buyer – your Realtor should be able to represent your best interests here. Once you’ve selected an offer, meet with the buyer and discuss terms, contingencies, and other details. This is the best time to present the disclosure forms you’ve filled out.
Review the contract, and close the deal
Go over the purchase agreement with a fine-tooth comb and make sure all the dates agreed on are workable. Meet all the buyer’s contingencies in a timely manner – remember that everything needs to be met by a particular date – and collate all the necessary documents. The closing date is when the transaction costs will be settled and the monies and ownership transferred. On this day, you and the buyer will sign all the paperwork and you can finally hand over the keys and title to your home’s new owner.
Congratulations! You’ve successfully sold your home!