You’ve made the leap. The “For Sale” sign is staked in the front yard, and your home is officially on the market. But what happens next? Do you sit back and wait for offers, or is there more to the story?
Spoiler alert: There’s more! Selling a home is an exciting but detailed process, and understanding each step can make the journey smoother. Let’s dive into what happens after you list your home, from attracting buyers to closing the deal.
1. The Listing Goes Live
Once your agent lists your home, it becomes the star of the show. They’ll market your property through the MLS (Multiple Listing Service), home search websites, social media, and other platforms. This is your home’s big debut, complete with professional photos, a compelling description, and maybe even a virtual tour.
Think of it like your home’s personal dating profile—it’s got to catch buyers’ attention at first glance. Your agent’s goal is to make sure it stands out from the competition and attracts as many interested buyers as possible.
2. Showings Begin and Feedback Rolls In
Once the listing goes live, potential buyers will want to see your home in person. Your agent will coordinate private showings, and they may also organize an open house to bring in even more foot traffic.
This is your chance to dazzle buyers, so it’s essential to keep your home clean, tidy, and staged. Stow away personal items (yes, even your magnet collection on the fridge) and let buyers imagine themselves living there.
After each showing, your agent will gather feedback from the buyers or their agents. This input is invaluable—it lets you know what’s working and what might need improvement. For example, if multiple buyers comment on a small repair or outdated feature, you can make adjustments to boost your home’s appeal.
3. Offers, Negotiations, and Acceptance
Once the showings start, the offers will (hopefully) start rolling in. When a buyer submits an offer, your agent will sit down with you to evaluate it. They’ll review the offer price, contingencies, and terms to help you determine whether to accept, counter, or pass.
Here’s where things get exciting—and a little strategic. Rarely is the first offer a “take it or leave it” situation. Negotiations come into play to strike a balance that works for both parties. Your agent will advocate for you, negotiating details like price adjustments, contingencies, and even the closing timeline.
Once you’ve agreed, you’ll accept the offer, sign the contract, and officially move into the next phase of the selling process. Congratulations!
4. The Buyer’s Due Diligence: Inspections and Appraisals
With an accepted offer in place, the buyer begins their due diligence to make sure the home is a good investment. This phase includes two key steps: the home inspection and the appraisal.
Home Inspection: The buyer will hire a professional inspector to evaluate your home’s condition, from the roof to the foundation and everything in between. If issues arise, such as plumbing leaks or roof damage, the buyer may request repairs or a credit toward fixing them. Don’t worry—your agent will guide you through these negotiations.
Appraisal: If the buyer is financing the purchase with a mortgage, the lender will require an appraisal to confirm the home’s value. The appraiser’s job is to ensure the bank isn’t lending more money than the property is worth. If the appraisal comes in lower than the sale price, there may be additional negotiations to bridge the gap.
5. Contingencies: What They Mean and Why They Matter
Most offers include contingencies, which are conditions that must be met for the sale to proceed. These protect the buyer but can sometimes feel like a hurdle for the seller. Here’s a closer look at three common contingencies:
Financing Contingency: This ensures the buyer can secure a mortgage loan to purchase the home. If the buyer’s financing falls through, this contingency allows them to back out of the deal without penalty. Sellers can protect themselves by favoring pre-approved buyers or those offering alternative payment methods, like cash.
Inspection Contingency: This allows the buyer to inspect the home and request repairs or renegotiate the price based on the inspection results. If the buyer discovers major issues—like mold, structural problems, or faulty wiring—they can negotiate fixes or walk away entirely. Sellers can prepare by addressing obvious maintenance issues before listing.
Appraisal Contingency: This ties the sale price of the home to its appraised value. If the appraisal comes in lower than the agreed price, the buyer can renegotiate or terminate the contract. Sellers can avoid surprises by consulting with their agent to set a realistic listing price from the start.
Understanding these contingencies can help you feel more prepared and confident as the sale progresses.
6. Closing Day Approaches
Once all contingencies are satisfied, you’re in the home stretch. During the closing phase, the buyer’s lender finalizes their loan, and you prepare to transfer ownership of the property.
Here’s what you can expect:
Sign the paperwork: You’ll sign documents to transfer the deed and finalize the sale.
Prepare the home: Remove personal belongings and make sure the house is in “move-in ready” condition.
Hand over the keys: The moment of truth—once everything is signed and sealed, the buyer officially takes ownership.
And just like that, you’ve successfully sold your home!
The Bottom Line
Selling a home is more than just listing it—it’s a journey filled with showings, negotiations, and a few twists and turns along the way. But with the right agent by your side, you’ll navigate the process with confidence and ease.
At CENTURY 21 Edge, we’re dedicated to the joy of home—and we’ll be there for every step of your selling journey.
Ready to list your home and get the ball rolling? Contact us today at support@c21edge.com or call 844.CALL.C21 to connect with an agent who’s ready to guide you from “For Sale” to “Sold.”
