10 Steps to Selling Your Home in San Diego

Does Fido need a larger yard? Are you an empty nester that wants to downsize? Or are the kids ready to have their own bedrooms? There’s many reasons that you may want to sell your home. And if you’re thinking of selling your home, it’s smart to get prepared. Of course, our experts are here to help you when the time comes, but’s its always good to know the steps before you hang a “FOR SALE” sign on your home.

Step 1: Identify your motivation for selling

Spend some time exploring your reasons for selling. The process can be taxing, so make sure it’s the right decision for you and your family. You should address your finances first. Ask your loan servicer to discuss the remaining mortgage balance, and make sure to know how much equity you’ll have when you sell. Then, make a list of deal breakers. What’s your timeframe to move? What’s the minimum price you’ll accept?

Step 2. Research the best time to sell in your area

It’s important to have an understanding of San Diego’s real estate market. Is your neighborhood “hot” right now, or is it on the “cooler” side? Is it a great time to buy a buyer or a seller? These questions can help you identify the best time to sell.  If you have flexibility in your timing, you might consider waiting for a sellers market, which occurs when there are more buyers searching for homes than there are homes available. It gives sellers the negotiation power and can drive up prices. Our experts can help you make sure you’ll get the most bang for your buck.

Step 3: DIY or with an expert

One of the first things you’ll need to decide is if you’re going to sell your house on your own (which is called “for sale by owner” or “FSBO”) or if you’re going to use a real estate agent. According to Zillow, just 10 percent of sellers who sold in the last 12 months completed the sale of their home without ever engaging an agent. Another 10 percent tried to sell on their own but eventually turned to an agent or broker for help. Consider the pros and cons of each option, including how quickly you need to sell, to make a decision.

Step 4: Fix what you can

Preparing to sell your home typically takes some work, whether that’s your own sweat equity or some professional improvements. After all, you want buyers to fall in love with your home, like you did when you first bought it. Spend some time getting your home move-in ready, in a way that will appeal to the broadest range of potential buyers. Here’s a quick list of what you might want to consider:

• Increase your return on investment (ROI) with some basic improvements: Consider adding some home features that buyers ask for, like professional kitchen appliances, solar panels, or upgraded shower heads.

• Beautify your home: First impressions matter! To make that all-important first impression, spend some time on your front yard. Powerwash driveways and sidewalks, add some seasonal plants to pots and garden beds, cut back overgrown plants and rake leaves.

• Sell as-is: Don’t want to make any changes? That’s ok! You may make less money, but in the end you may speed up your sale and limit upfront out-of-pocket expenses.

Step 5: Price your home competitively

Finding the right listing price for your home can be a challenge, but it’s one of the most important factors in a successful home sale. Homes that are accurately priced are more likely to sell in a timely manner. Your real estate agent or REALTOR will do the hard work for you, like researching comparables, hiring an appraiser, and doing market research.

Not sure about what your home is worth? Use our calculator to get an instant market valuation.

Step 6: Stage your home

Preparing your home to sell should also include arranging your furniture, organizing your belongings, and decorating in a way that appeals to the widest range of potential buyers. Remember, potential buyers will be opening drawers, looking in closets, and inspecting your garage. In some cases, we can help you work with a professional stager to make your home shine.

Step 7: Market your home

Social media, newspapers, online listings, oh my! In this stage, your real estate professional will use all of their powerful marketing tools to get your home in front of as many buyers as possible.

Step 8: Prepare for the unexpected

Sometimes, homes don’t sell as fast as we would like. In that case, we go back and review what has — and hasn’t — worked. Some common issues include a bad home inspection, a low home appraisal, or a failure for the buyer to secure financing.

Step 9: Move out

You’re almost done! Now, it’s time to pack, clean, and prepare yourself for a new future.

Step 10: Fulfill obligations

This is the last step in the process. Your real estate agent and loan officer will help you get your final paperwork in order. This will include opening an escrow account, completing repairs, submitting property disclosures, review closing costs, and signing documents. Finally, your escrow agent will close your escrow account. They will also transfer the deed for the home to the new owner (or their lender), pay off your remaining mortgage balance, pay all closing costs and make sure you receive your profit.