Selling a house in Colorado Springs, CO can be daunting, but with the right preparation and guidance, it can be a smooth and successful process. Here are the key steps to selling a house in Colorado Springs, CO:
1. Determine the Market Value of Your Home
The first step in selling your home is to determine its market value. This can be done by getting a professional appraisal or by comparing recent sales of similar properties in your area. Knowing the market value of your home will help you set a realistic price and make informed decisions throughout the selling process. Do NOT rely on Zillow to accurately give the true value of the home. So many additional factors play here, and oftentimes, sellers are disappointed when they don't get what Zillow valued the home at. These are bots and algorithms that have never seen the inside of your home.
2. Make Necessary Repairs and Improvements
Once you have a clear idea of the market value of your home, it’s time to make any necessary repairs and improvements. This may include fixing leaks, repainting, and updating old fixtures. By making your home as presentable as possible, you can increase its appeal to potential buyers and potentially sell it for a higher price, beating all the competition.
3. Hire a Real Estate Agent or List for Sale by Owner
Once your home is ready for sale, it’s time to choose a listing method. You can either hire a real estate agent or list the property for sale by owner (FSBO). Both options have pros and cons, so it’s important to weigh them carefully and choose the best suits your needs.
4. Prepare the Property for Sale
The next step is to prepare the property for sale. This includes staging the home to appeal to potential buyers. Staging your home can include things like decluttering, rearranging furniture, and making the home look as spacious and inviting as possible.
5. Advertise the Property
Once the property is prepared for sale, it’s time to advertise it. The most common method for advertising a property is by listing it on the Multiple Listing Service (MLS) and other online platforms. This will give your property maximum exposure to potential buyers. Additionally, it’s important to hold open houses and other showings to give potential buyers a chance to see the property in person. If you are selling on your own without an agent, make sure you do not skip out on neighborhood features, and great marketing photos. Buyers love virtual tours and high-quality photos from a professional photographer who knows marketing.
6. Review Offers and Negotiate
Once you start receiving offers, it’s time to review them and start negotiating with buyers. This process can be complex and it’s important to work with a real estate agent or attorney who can guide you through the process and help you make the best decision. Not all offers are created equal. Some offers may be higher, but you have to consider appraisals, types of loans, and other contingencies in this lengthy contract to buy and sell.
7. Sign a Purchase Agreement
Once an agreement has been reached, it’s time to sign a purchase agreement. Before signing, it’s important to have the agreement reviewed by a real estate agent or an attorney to ensure that all the terms are fair and that the agreement protects your interests. To access this real estate commission-approved contract, click here.
8. Close on the Sale
The final step in the process is to close on the sale. This usually involves transferring ownership of the property, paying off any outstanding mortgages, and disbursing the proceeds of the sale. This process can be complex and it’s important to work with an attorney or real estate agent who can guide you through the process. You want to make sure you have a clean transfer of ownership to make sure nothing comes back to haunt you in the future.
The Keys 🗝️
Selling a house in Colorado Springs can be a complex process, but with the right preparation and guidance, it can be a smooth and successful experience. If you are considering selling your home, it’s important to seek professional advice from a real estate agent or attorney who can guide you through the process and help you make the best decisions. Feel free to reach out at any time!
IRIS BURTON | REALTOR®
RE/MAX PROPERTIES, INC.
102 SOUTH TEJON STREET
COLORADO SPRINGS, CO 80903