Home sellers, even seasoned ones, are not always aware of the most important considerations when preparing to sell their homes.  You’ve enjoyed living in your current home.  You’ve lived in it for some time, invested yourself in effort, time and money to maintain and improve it.  You’re ready to move on, though, and get something that will better fit your current lifestyle and needs.

Video: Selling Tips

You are going to have to stand out among the rest.  You need a checklist to make sure you don’t skip a beat in the process of selling your home.  You’ll need to do the following:

• Make a list of every room in your home, including the garage.  Add your yard, driveway, outbuildings and the exterior of your home to the list.  Don’t leave anything out.  Even include the fence and dog house.  You will use this to note specifics that will need to be addressed in each in order to prepare your home for sale.
• Now, you’re going to do a walkthrough of your property.  Take your list along.  Start slowly at one end of your home.  Walk through each room.  Scrutinize and make note of repairs or minor improvements that need to be done.  Include any de-clutter that needs to take place – messy and packed closets, extra furniture that crowds a room.  Clutter makes rooms appear smaller.  Make note of dark paneling, dark drapes, dark paint, and spackled ceilings.  Jot down anything that makes your home appear dated or drab – e.g., old carpet, pink flowery wall paper and wood paneling.
• Include stains on anything (e.g., walls, carpet), pet odor, mismatched wallpaper/border and smoke odor.  You might want to smoke outside until you close on the sale of your home.  Buyers look for the smallest things to barter with.
• As you make your way to the exterior of your home, note dirty windows, paint that might be chipped on window sills and the doorways.  Is your home personalized with a moose collection or Buddha shrine?  Remove the items and store them somewhere out of the way.  Is the siding intact?  Is your home still that bright blue?  Your goal will be to note repairs and change anything that is not a neutral color or neutral theme.  Are there noticeable patches of grass missing in your yard, or is your yard overgrown with weeds?  Do you have any clutter sitting in your yard – e.g., pile of boards, pile of leaves, burn pile or barrel?  Note anything you need to remove or dispose of.  You don’t have to be an expert gardener to have a decent looking yard.  Also, consider the appearance or condition of your driveway.
• You’ve got your lists and it’s time for you to do the repairs, improvements or upgrades.  Paint everything a neutral color, make your repairs/improvements (even the slightest ding), de-clutter, brighten every room (add brightest bulbs safety will allow), remove all odors, remove clutter and complete your curb appeal.  Don’t leave anything for the buyer to criticize, if at all possible.
• You are now ready to call in the realtor.
• Select your realtor. Do several interviews.  When you meet with the agents, ask them what they will do to sell your home – e.g., ad in local newspaper, yard tube with house ad, open house.  The interview should give you a feel for which one impresses you the most. 
• You will be presented with a seller’s agreement between you and the realtor.  Commit to no more than 90 days.  This way, if the realtor does not perform well, you can always change to another.
• Your realtor will do a comparative market analysis (CMA) on your home.  All homes that sold in your subdivision or homes that sold in comparable neighborhoods in close proximity are noted.  The sold prices of comparable homes are compiled and an average is used to determine the value of your home.  Of course, certain amenities, or lack of them, can increase or decrease the perceived value of your home.  For instance, in neighborhoods where upscale amenities are a “given,” if you don’t have those amenities then your home will be perceived as less valuable.  You will need to price it thousands lower than the homes that have sold in the neighborhood.  On the other hand, if your home has all the amenities – e.g., granite countertops, travertine tile, a central vacuum – it would be priced comparable with the sold homes.  If your home has more amenities than the comparable sold homes – e.g., extravagant kitchen with exceptional cherry or mahogany cabinets, or bathrooms with expensive tile and seamless glass shower stalls, then these amenities would increase the perceived value of your home.

• Pricing your home in today’s down economy is going to be a challenge.  If homes are selling in a relatively short amount of time in your neighborhood – e.g., 2 to 3 months, then you could consider listing your home closer to the median of other homes sold in the area.  Regardless of the economy, you’re going to have to strategically price your home.  Statistics show that if you price it too high, it will sit on the market longer, you will have a harder time selling it, and you’ll have to sell it way below its market value when it finally does sell.  The perception of the value of your home diminishes over time the longer it stays on the market without an offer.
• After your home is listed, you’ll want your realtor to do one or more open houses for the general public.  The traffic creates interest in the neighborhood.  In addition, you’ll want your realtor to have an open house for other real estate agents.  You’ll want their feedback as to the condition and listed price of your home.  DO NOT be present at your own open houses.  Also, DO NOT be present at any showings of your home.  There’s nothing more constricting, restrictive or distracting for a potential home buyer than having a homeowner present at a showing.
• Okay, you get your first offer.  It may be low-balled, but don’t take offense.  According to studies, your first offer is usually the highest.  Counter offer with a figure more in the ballpark that you are comfortable with.   Consider that some things may be found during the inspections, so you’ll not want to counter too low.  Also, keep in mind that if you reject the offer up front, you may miss out on a quick sale of your home.  The longer your home stays on the market, the more the perception that something is wrong with your home.
• You counter offer and the potential buyer accepts.  Sign the contract and wait for the inspections to complete.
• If concerns are identified during the inspections, be ready for negotiations.  If the concerns are costly, you may want to offer to pay a percentage of the closing costs in exchange for the repairs.  If you can do the repairs yourself, commit to it and do it.  That way the purchase process can continue.
• Once the inspections are completed and you and the buyer have signed a final agreement as to the sale price of the home, the closing will be scheduled.
• Scrutinize your Settlement Statement carefully to ensure that it contains everything that you agreed to in your final exchange with the buyer; no more, no less.  If it looks good, sign it.
• Congratulations!  Your home is sold.  Now, celebrate!