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Are you ready to sell your Florida home? Our step-by-step guide breaks down the entire process into eight steps. Selling your home can feel intimidating, but we’ll break it into manageable chunks. Soon, you’ll find the best real estate agents, price your home, negotiate with buyers, and close the deal.
Now is a great time to sell your Florida home. House prices have risen, but significant growth is expected next year. In addition to understanding the steps involved in selling a house in Florida, those looking to start a business in the state should also familiarize themselves with the process of how to open an LLC in Florida to capitalize on new opportunities. Nonetheless, several things can stand in the way of the real estate selling. If the home is undervalued or inadequately marketed or the deal poorly negotiated, even the nicest real estate can struggle on the market. In this case, it is better to turn to top real estate agents in Sarasota for help.
Step 1: Find a Florida Real Estate Agent
Selling a house takes work, and it requires a lot of time and knowledge to get good results. Collaborating with one of the top-rated Florida real estate agents to sell your home will help you get the best price with less stress and effort.
Florida real estate agents know exactly what local buyers want and how to reach them. They offer expert advice, guidance, and support every step of the way, from initial placement to closing. Sellers who partner with real estate agents earn more than those who sign up independently.
Step 2. Specify When You Want to Sell
It’s not the first thing on your mind when selling a home, whether in Florida or anywhere else. But the timing of the sale can affect how long it takes to get your home on the market and the sales price you’ll get for it. April and June are the best months to sell a home. List your property in one of these months to get the best price on your home.
Step 3. Research Florida Housing Prices
A comparative market analysis (CMA) is an effective method to accurately determine home value. To run a CMA, compile the sale prices of recently sold homes in your area, taking into account metrics such as square footage, home condition, and home features. A CMA helps you create strategic and realistic pricing plans for your home.
An experienced real estate agent is invaluable when it comes to estimating the value of your home accurately. They will have their finger on the pulse of the market and be able to give you invaluable advice on the listing price.
But if you’re early in the process and just want to get a general idea of what your home is worth, use a free online estimator for your property.
Step 4. Prepare, Market, and Present the Real Estate
Effective marketing can significantly affect the sale of your home. Based on the features of your home, you can target the advertising to specific buyer demographics.
Marketing will help increase your home’s visibility and appeal to potential buyers. If you think the kitchen and dining room are the essential elements of the house, a beautifully set dining table can draw attention to them. It helps buyers imagine what it’s like to live there and throw a dinner party.
But before you consider staging, marketing starts with the listing. Create an impressive and informative description of your home listing. This is the first impression your home makes on potential buyers.
Could you encourage them to arrange a home visit? It’s important to highlight the best parts of your home that photos can’t show, such as the perfect reading nook or the recent roof replacement.
Put the buyer in the spotlight and make them feel your home is one they can’t miss, but don’t cheat them. Not only is this morally wrong, but it can also backfire. If a buyer comes to you expecting something but sees something completely different, they will not bet on buying your house.
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Letting people know that your home is for sale is key to expanding your pool of potential buyers. The more people who know about your home, the more likely you will sell it for a higher price.
The real estate agency will handle most of the marketing, such as listing your home on a classified site. But you can help out by sharing your listing with family, friends, and social media.
Once you’ve attracted some attention, it’s time to schedule visits. If you want to sell your home, you need to be open and flexible to allow buyers to come in and take a look. Visits usually last less than 30 minutes. Selling a house without a visit from potential buyers is almost impossible.
If you want to make your home easily accessible, especially to buyers with busy schedules, consider hosting a few open houses. An open house is an effective way to ensure your home is available to buyers, and it’s more convenient than scheduling individual showings.
In your listing be sure to provide all the information required by the state of Florida. Current law requires sellers to notify buyers of any defects they are aware of that may affect the monetary value of the property. The Florida Association of Realtors provides sellers with a standard form to fill out. The listing asks the seller about the condition of the home’s major systems and appliances, as well as whether there has been any previous structural damage, such as flooding of the house.
When in doubt about liability, consult your real estate agent. Your real estate agent can advise you on what to expect and how to avoid potential legal problems.
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Are You Buying a Fixer-Upper in Florida?
As an aside, if you are looking to purchase a home as a fixer-upper, you should be aware that there is high competition between construction companies in the primary market. To attract as many investors as possible to their project, Florida developers offer promotions and special offers. They make it possible to significantly reduce the initial cost of housing.
A potential buyer of real estate in Florida will have to monitor permanent and temporary promotions in order to choose the best option for them. As a buyer, when you have taken a close look at an apartment in a certain residential complex, you can monitor promotions for this project on the company’s website or on its page in a social network.
Another effective tip to save money when buying real estate in Florida is to contact construction companies’ sales departments at the end of the quarter or calendar year. Most likely, in order to fulfill the sales plan, the manager will gladly give a discount on the accommodation you like. You can also refer to competitor prices. In order not to lose a client, the developer may have to make concessions. Florida developers actively offer discounts on real estate during the period of decline in customer activity.
Step 5. Negotiate with Buyers
If you have received an offer to buy your home but the price does not meet your expectations, you can negotiate with the buyer to get a mutually beneficial sale price.
First, make a counteroffer to the buyer to give them a starting point. A counteroffer usually includes proposed terms of the sale, such as a higher purchase price and the time it takes for the buyer to accept the offer. Most counteroffers take at least 24 hours before the other party responds.
Sellers and buyers can exchange counteroffers until a mutually beneficial agreement is reached. Your real estate agents can advise on how to respond appropriately to a buyer’s offer. Once all terms of sale have been accepted and signed by both parties, the parties may close the deal.
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Step 6. Evaluate and Verify
The next step in the selling process is the home inspection. A standard purchase contract should specify the length of the audit period. The total inspection period in Florida is 14 days. However, if your home is very large or old, it may take a few days longer.
If the inspection reveals new issues, the buyer may wish to correct or revise the closing price if the purchase agreement provides the appropriate options. Major inspection issues in Florida include roof issues (such as missing or damaged shingles due to extreme weather conditions) and home flooding.
After the end of the review period, the signing of the agreement begins.
An appraisal is a professional tool for estimating the market value of a home and is conducted by a licensed property appraiser. The buyer orders the estimate. The appraiser will compare your property to other recently sold homes. Appraisers aim to accurately estimate a home’s value by analyzing data such as square footage and the house’s current condition.
When the home price is lower than the agreed sale price, the seller and buyer must renegotiate to reach a final price. This usually means that both parties meet halfway. That is, the seller agrees to a lower price and the buyer pays a higher deposit.
Step 7: Adhere to Legal Requirements in Florida
Selling a house involves many formalities. While reviewing any documents, always check with your representative or attorney before signing or sending any legal documents.
Step 8: Close on the Sale
After completing checks and evaluations and submitting documentation, it’s time to close the sale. The seller legally transfers asset ownership to the buyer on the closing date. To complete the sale process, both parties must fulfill all the conditions outlined in the sales contract. This includes payment of all legal closing costs.
In Florida, most contracts are negotiated in person and under the supervision of a legal representative. The legal registrar is responsible for registering the sale of real estate and the legal transfer of ownership.
Once all the legal documents are signed and executed, you can transfer the property to the buyer and get your money back with lower closing costs. County closing costs in Florida vary due to different filing fees and local taxes. However, most sellers in Florida must pay 1-3% of the total sales price as closing costs.
Selling your home when you own a home-based business adds another layer of complications to your move. Watch our blog for tips and tricks that will help you prepare for moving day.