Find Out What Your Home is Worth

How to sell your house in 10 steps

Most home sellers dream of a stress-free sale in which they simply list their house, quickly find a qualified buyer, collect the cash, and hand over the keys. If only it were that simple! In reality, selling a home involves many moving parts — some that you can control, and some that are out of your hands. The real estate market has shifted since the frenzied heights of the pandemic. Frantic bidding wars are mostly over, and both prices and mortgage rates remain high. With fears of a recession looming, many buyers are staying on the sidelines until either rates or prices (or both) come down. Though the process may vary from seller to seller, the typical selling process looks like this guide:

Selling your house in 10 steps

The Seller Resource Guide

Selling A House FAQs

There’s a lot to think about during the process of selling a house. Let’s take a look at some of the most frequently asked questions.

How much does it cost to sell a house?

When you sell your house, there are several expenses you should be aware of. The costs of selling a house typically include real estate commission, pre-inspections, cleaning, repairs and improvements, staging, utilities, home warranty, capital gains tax, closing costs, remaining mortgage balance, and moving. It’s important to understand how long you should live in your house before selling to ensure you turn some level of profit.

Can you sell a house with a mortgage?

Yes, you can sell your house if you have an existing mortgage. When you sell your home, the sale profits can often be used to pay off your mortgage balance and any closing costs. Just be sure to check with your lender on any prepayment penalties.

What happens to the money when I sell my house?

As mentioned above, the cost of selling a house may cost you, but hopefully, the money from your home sale can be used for capital gains tax, closing costs, real estate commissions, or paying off your mortgage.

How long does it take to sell a house?

Selling a house doesn’t happen overnight. How long it takes to sell a house depends on the status of the market, how long the house has been on the market, the asking price, property condition, and location.

Can I sell my house without a REALTOR®?

In short, yes, you can sell without a REALTOR®. But a “For Sale By Owner” (FSBO) listing comes with many responsibilities. Although you can often avoid paying real estate commissions for your listing agent, there still may be a buyer’s agent commission you’ll have to pay as the seller. When you list FSBO, you’ll be solely responsible for the entire marketing and transaction process, and many home sellers find it worth the cost to work with a REALTOR® for an easier selling experience.

The Bottom Line

Selling a home may seem stressful, but many sellers are rewarded with a new place to call home once they’ve handed their keys over to the new owners. If you’re looking to buy a new home while moving out of your existing one, get started on your purchase today and let me know how I can help..