8 Steps to Selling a House in Washington DC
By Space Coast Daily // May 25, 2021
In 2020, the average time to sell a house in D.C. will take approximately 70 days. This is relatively 5 days later than its preceding year. Apparently, one factor that affects this is the coronavirus pandemic.
Your thought right now is probably, “Then how am I able to sell my house fast in Washington D.C.?” It might be hard, but it is actually possible. With the right timing and proper marketing, you can immediately close a deal with a buyer. It is a long process. But to your comfort, you are about to see 8 simple steps that we break down for you.
1. Find Washington D.C. Realtor
First, you need to look for a trusted and experienced real estate agent in Washington D.C. Most of the time, they assist you on complicated processes that you just want to skip on. Agents alleviate your stress and save your time so they need to be reliable.
Another thing is that they must know…are your home selling goals. Why do you need to sell your house as soon as possible? How can you sell it for a top dollar price? Realtors must also know these aspects.
2. List Down Things to Repair
Buyers tend to look for a used house that looks new. After all, they are set to start a new beginning if ever they will move in as well. In this step, you should consider the major and minor repairs you want to do.
Also, list potential items that you’ll be bringing as you move out. If your house is vintage, they must be at least clean. Prepare as well if potential buyers might demand to fix some of the interior and exterior of the house.
3. Determining When to Sell
Finding the right timing to sell your house is crucial. Gather and review data showing the best time to list your home. On an all-time scale, May to July are some of the best months to sell a house in D.C. based on its market trend. So, if you need to sell your house as fast as you need, now is the best time. In an isolated case, there might be an upward trend in a random date. If that happens, grab the opportunity and list your house.
4. Identify your House’s Price
Next step is setting the right price of your property. The faster you sell it, the lesser the cost. The more competitive the price, the highest return you’ll earn. Mind you, a house is an investment. Thus, you shouldn’t settle for less. Whereas, you should also not overprice.
Based on the data around your area, consult about the price of the nearby houses. This might be in the form of Competitive Market Analysis (CMA). This is a house listing of houses that have been sold and are currently up in the market. Ask 8 Day Home Sale to assist you on it.
5. List your Home
If you finally decided when to sell your house at a certain price, you can now put it out in the market. Your listing description must stand out. It doesn’t have to be fancy. However, you need to highlight its best features and perks to buyers.
6. Market and Flaunt your House
List descriptions are not enough. You should be able to advertise and market your house properly. Convince your potential buyers. Show them why there’s no other home like yours. You can list your house in your local MLS, and utilize the internet as well. You can also print physical ads.
By this time, repairs and setting your house for showing off to the clients is up. Remember that first impression is important to your Washington house buyers. You can either open it up to every potential buyer, or do an exclusive one instead.
7. Accept Offers and Negotiate
After advertisements, you will now get written offers from buyers. Having several potential buyers increases the possibility of acing the best offer, indeed. It’s a nice opportunity, but hold it in first.
You need to weigh on several factors first:
■ Do you want a buyer to pay in cash or in mortgage?
■ What are the buyer and your contingencies?
■ When will be the closing period?
■ What’s your home value?
In this step, negotiations will also arise. If one is unhappy, you can’t close a deal yet. Talk about each other’s demands and requests. If everything is settled, proceed on signing a Purchase Agreement.
8. Inspect, Sign and Close the Deal
It is also a standard to inspect first before closing a deal. If you pass it, then there will be no problem. On the flip side, if any issues were found, you should address it first. Selling a house in Washington D.C. requires Seller’s Disclosure Agreement prior to signing.
After claiming a copy of it, you may now proceed to your attorney’s office. Then, sign all the important documents, pay for closing costs, and there you are! You just sell your home.