In an ideal world, the moment you stick a for-sale sign in your front yard is the moment buyers line up with offers. Unfortunately, selling a home is not that easy. The home selling process can take some time. To properly plan around this process, it’s crucial that you understand the timeline of selling a home. The following is a general breakdown of the typical home-selling timeline:
- Researching the local market – To understand the value of your house and how much negotiating power you’ll have, you’ll need to research your local market. Look at recently sold comps to get a good idea of the demand in your area. Begin research at least two months before you plan to list.
- Hiring an agent – A real estate agent can help you prepare your home for sale, pinpoint the right asking price, and line up buyers. Begin working with an agent six weeks before listing.
- Preparing your home – At the same time you hire an agent, you should begin prepping your house by making repairs and investing in home improvements that will boost the home’s value.
- Moving out – Although you don’t have to be moved out before you begin showing your home, it’s a good idea to be. If you can, begin moving out around a month before you list.
- Marketing your property – Start advertising your property online a week before you officially list it on the market to begin generating interest.
- Selling your property – Once listed, it can take anywhere from a few weeks to a few months to sell. The average home stayed on the market for 24 days in 2020. However, keep in mind that closing can take an average of 46 days, which means from the day you list to the day you close can last roughly two months.
All in all, expect to spend between three and four months preparing and selling your home. For more home selling advice, contact us at Randy Lindsay today.