Are you thinking about selling your Flagstaff home this year? Deciding to sell your home is always a big deal. Once friends and neighbors learn of your plans, you can expect to receive lots of advice. You know they mean well, but good intentions don’t sell homes–for that, you need an expert. Or, even better, a team of experts.
The Elite Team at RE/MAX Peak Properties has over 100 combined years of experience buying and selling homes in Flagstaff, Arizona. If you’re considering selling your northern Arizona home, this guide is for you. In it, you’ll find advice that will help you navigate the home selling process like a pro and learn which bits of well-meaning advice from friends and family to (politely) ignore.
Are You Ready to Sell Your House?
Sellers cite plenty of reasons for listing their homes. Some have outgrown starter homes and are ready to take on a larger space. Others find themselves with too much house once their children grow up and move out. No matter the motivation, potential sellers know they want to sell their house, but the more relevant question to ask first is, “should I sell my house?”
Before you decide to sell your Flagstaff, Arizona home, consider a few factors:
- 1. Are you in a financial position to cover the costs of staging and selling your home and buying a new home? Inspections, appraisals, repairs, and staging costs all add up. While you may recoup these costs after your home sells, you may need to make some upfront investments.
- 2. How much equity do you have in your home? If you owe more on your home than it’s worth, you may want to wait to sell until you will, at minimum, break even on the sale. Ideally, though, you’ll want to have enough equity to cover the down payment on your new home as well as your other expenses from the sale.
- 3. How’s your credit? If there are items on your credit report you can clean up or wish to dispute, it may be worth waiting a few months. While the difference between a credit score of 720 and 760 may seem minor, it can make a big difference in the interest rates mortgage lenders offer you for your new home purchase.
Home Selling Costs
If you have enough equity in your Flagstaff, AZ home, you are likely to profit from its sale. There are costs you’ll need to consider along the way, however. Some of these will be deducted from the proceeds of the sale, while others may need to be paid up front, including:
Real estate commission: Usually, the sellers are responsible for paying real estate commissions, which are split between the listing and selling agents. The rates vary, and are most commonly paid once the house has been sold.
Inspection fees: While you can expect buyers to complete a home inspection before closing, many sellers choose to have an inspection before listing their home to identify any potential issues and rectify them. The size of your home and other factors will determine the cost of the inspection. Still, most sellers can anticipate a fee between $300-$700.
Repairs: If there are necessary repairs to make before selling your home, they’ll add to your overall cost. Likewise, any upgrades you choose to complete to make your house more attractive to potential buyers should be considered in your overall costs.
Staging: If you’ve lived in your home for a long time, you may have accumulated many items or clutter that can distract buyers. Whether you choose to hire professional cleaners and get your home ready for sale or decide to go it alone, you’ll need to factor in the associated costs.
Seller concessions: Concessions negotiated in the sale can include additional repairs, home warranties, or a portion of the buyer’s closing costs and other fees.
Steps to Sell Your House
Step 1: Find a real estate agent
If you’re trying to save money when selling your house, you may be tempted to try it on your own. For most homeowners, though, the DIY route is a false economy. An experienced real estate agent with deep knowledge of the Flagstaff, Arizona real estate market can handle the nitty-gritty of listing and marketing your home and communicating with prospective buyers’ agents and also offer advice to price and stage your home. Learn more about how to choose the right REALTOR® for you.
Step 2: Determine your home’s value and settle on a listing price
Your REALTOR® will run a comparative market analysis (CMA) to help them predict the price buyers in your area are likely to pay for your home. Other factors, such as market conditions at the time of listing, will help your agent work with you to decide on a competitive listing price. Find out what your home is worth.
Step 3: Identify the best time to list your home and create a timeline
Conventional wisdom says the best time to sell your home is in the spring, but that’s not true of every market. Listing your house at the right time can be just as influential in determining the speed of your home’s sale as setting the right price. Your agent will help you weigh all the factors influencing your sale to determine the best time to list your home.
Step 4: Get a home inspection, complete repairs, and stage your home
An inspection isn’t necessary before listing your home, but completing one can reveal issues that could slow or even halt your sale later on in the process. By identifying and remedying problems before listing, you may be able to avoid surprise costs further down the line.
If you’re thinking of making any aesthetic changes beyond a deep cleaning and decluttering, talk to your REALTOR® first. They can help you identify the items buyers care about so you can invest in only those things that will make a difference.
Step 6: List and show your home
Once your home hits the market, you’ll need to be prepared for showings. Though it isn’t always convenient, you’ll attract more buyers by making your house available on their schedule, even if it occasionally conflicts with yours. This means keeping your home tidy enough to show throughout the day and evening and having a plan that gives you and your pets somewhere to go while buyers are touring.
Step 7: Review, negotiate, and accept offer
Whether you receive one or multiple offers, your REALTOR® can help you review them and begin negotiations. Once you accept an offer, the buyer will complete inspections and, if they decide to move forward, work with a lender to secure a mortgage. After the mortgage underwriting process is complete, all that’s left is to sign the closing documents and pack!
Questions? Contact Us To Learn More About Selling Your Home in Flagstaff, AZ
Deciding to sell your home is one of the most significant decisions you can make. Having a trusted and experienced real estate agent by your side can make it easier. Your REALTOR® is your partner through every aspect of the home selling process, and their expertise can give you an edge that leads to a faster sale and a smoother process.
The Flagstaff, Arizona real estate market may seem challenging from the outside, but the Elite Team at RE/MAX Peak Properties are experts at navigating it. If you’re reading to sell your Flagstaff home but aren’t sure how to take your home from FOR SALE to SOLD, call or contact the Elite Team today.