Don’t Panic! How to Deal With Stress While Selling Your Home 

While rewarding, it can be incredibly stressful to sell a home. Fair negotiation with buyers requires energy and patience. Don’t panic! You can prepare yourself by getting educated on how to sell your home the smart way. The emotional stages of selling a house can leap from excited to overwhelmed during the home-selling process.

Learning how to stay positive when selling your house can help reduce fatigue. Take the necessary precautionary steps to make sure your home sale goes smoothly. Below are some tips and tricks for selling your home without being stressed out.

Set Up A Realistic Timeline When Selling Your Home

While listing your home only takes about two to four days, know that it can take between two weeks to a couple of months or more to sell a house. This also depends on local market conditions. Ahead of time, you can mentally prepare for all of the repairs you need to tackle before the closing inspection. With this approach, you aren’t completely overwhelmed and can cope with stress while selling your house.

Two to three months before you search for reasons to repair parts of your home, you should consider a pre-sale home inspection. This can help you avoid mistakes when selling your home so that you don’t repair unnecessary items or overlook important issues. Ask your listing agent about what not to fix when selling a house. 

Figure Out Your Finances Before You Sell Your Home 

You can sort out how much money you’ll have left over from your home sale after you’ve paid your mortgage. Check the mortgage paperwork for repayment charges if applicable. There is also the possibility that you can take your mortgage with you to a new property, also known as porting. Porting allows you to accept a new mortgage on the same terms, but this is something you would have to discuss with your mortgage company.

The figures for your remaining mortgage payment will be approximate. You’ll get a price redemption or outstanding balance on the agreed completion date between you and your lender. 

Interview Real Estate Agents

For sale by owner (FSBO) homes get fewer offers and tend to sell for significantly less. Instead of struggling on your own, work with a real estate agent who knows the market. They’ll understand that the house must be priced according to your neighborhood market.

They can do this with a comparative market analysis report. Listing agents have a fiduciary relationship with you and will look out for your best interests.

Ask your agent about the following:

• Inquire about the length of time your home will be listed 
• Questions about your listing agreement
• Determine the commission you will pay for your listing agent’s services
• Figure out what those services will include 
• Ask about who will be paying the buyer’s agent commissions

Decide How Much To Sell For

With an accurate pricing of your home, you can now set the price for buyers. In general, buyers often attempt to negotiate a discount between 3% and 10%. You can circumvent this by being prepared during the home-selling process. 

Consider Some Repairs

You can possibly perform some of your home repairs on your own, depending on what the issue is. In some cases, a potential buyer may request in the contract that a certified professional perform specific repairs. If there is a severe electrical issue, for example, the appraiser may request a professional service contract under the Federal Regulation Acquisition (FAR).

Be prepared for that! Don’t be one of many sellers who break down when things go wrong during the home-selling process. Preemptively have all of these issues addressed. Otherwise, the buyer will use any disrepair as a bargaining chip to reduce the price of your home. 

You might have to take care of necessary repairs before negotiating with buyers. For example, ground fault circuit interrupters (GFCIs) frequently stop working in homes and must be repaired for safety. Double-tap circuit breaker repairs are another major issue. Otherwise, you can sell “As Is” and the buyer will parcel out their health and safety concerns and negotiate the price down.

Make Your Home Cosmetically Pleasing

Instead of the fear that your buyer will be unforgiving of unpleasant eyesores, make your property impressive. The look and feel of your home will make the biggest impact on buyers. Curb appeal has the biggest influence on how buyers choose their homes. After you’ve made affordable transformations, your home will be a treasure to explore.

Uncluttered 

Before your home is photographed, remember to remove all of the clutter across your home. Hide all personal items, put picture frames in storage, and remove child or dog toys. This will not only make your home appear more spacious and clean, but it will also allow the buyer to envision how they’d like to decorate to their tastes. 

Fresh Paint 

Repaint your home in refreshing neutral colors to appeal to buyers. You’ll want to remove wallpaper and other flashy surfaces for a more muted tone. 

Take Care of Windows

Your windows make an immediate first impression. Pressure wash all of your windows so that they are sparkling to make your home appear brand new. You can also upgrade windows. 

Tidy Front Garden

The front of your home can also make a massive impact on buyers. Add a few affordable seasonal flowers and pull out weeds. 

Spruce Up Your Driveway

Clean up your driveway with fresh paint or pressure wash to spruce it up. Otherwise, you can install a whole new driveway to increase curb appeal and the price of your home. Only do this if it makes sense for local market conditions. 

Prepare Flooring

If you have carpet, it’s time to shampoo it. Wooden floors can be refinished or stained. Alternatively, you can rip out out carpet if there’s wood underneath. Don’t waste too much money renovating your floors if it doesn’t make sense for your home’s price point. 

Your listing agent will have other recommendations,  but for more in-depth tips you can read this Ultimate Checklist for Home Sale Preparation. 

Proper Marketing And Photos

Your home’s first showing is online, only because 96% of homebuyers hunt virtually. Listing agents will provide all the best recommendations to prepare your home for sale. They market your home using quality photos, in addition to the following:

Stage Your Home

On average, professionally staged homes sell for $40,000 over the list price. This can result in a 5% to 23% increase in the listing price, reeling in an average rate of return of 7.1%. Your listing agent will help you get items to redecorate your home professionally to appeal to buyers. About 40% of homebuyers will visit a staged home after viewing it online. 

Host Open Houses

Your listing agent will host open houses to encourage buyers to visit your home. They will put a lockbox or keypad on your home for secure entry. Otherwise, you can set appointments with buyers. Remember to be flexible and accommodating with your schedule. You can also request buyer feedback to adjust the conditions of your home. 

Create Virtual Tours 

With a professionally staged home, your listing agent can also create a virtual tour. Homes with virtual tours sell a whopping 32% faster and 5% to 7% higher in price than homes advertised without them. 

Accept An Offer

Let the offers roll in and place the unfavorable ones on a shelf. For offers you like, make a counteroffer contingent on the buyer purchasing the home if market conditions allow. You can also consider a kick-out clause or a right of refusal if the buyer’s offer is contingent on them selling their own home. This way, you won’t have to wait forever for a buyer to sell their property. 

Negotiate Contract

When you accept an offer or create a counteroffer, you’ll want to look at these factors:

• Buyer’s form of payment (cash versus financing)
• Type of financing the buyer will use
• Contingencies
• Concession requests
• Down payment amount 
• Contingencies 
• Proposed closing date

With your listing agent’s help, you can receive the appropriate advice. They’ll consult you throughout the process. 

Open Escrow and Order Title

Your listing agent or attorney will open up an escrow, which is a financial agreement where a neutral third party controls payments between two parties to protect them both. The funds are released when the contract terms are met. Most likely, you’ll select a date to close based on when the buyer’s lender will fund the purchase. You can later request a receipt for the buyer’s earnest money deposit and option fee.

When Your Home Doesn’t Sell

If you are stressed out that your home isn’t selling, your listing agent will most likely provide these simple solutions:

• Price reduction if it is overpriced for the current market
• Make repairs to improve the value of your home

Being flexible with the buyers in terms of closing date, move-in date, and other variables can also help make your sale price more favorable. 

Know Closing Costs and Tax Implications

Get familiar with how much you’ll need to pay for closing costs. Your listing agent can help you calculate how much in taxes you’ll need to pay. For example, there are transfer taxes and recording fees. For sales over $250,000 for individuals, you’ll have to pay taxes on the remaining amount over this minimum. For couples, that minimum is $500,000. Certain individuals may qualify for tax exemptions. 

Only Hire A Real Estate Attorney for Serious Issues 

Issues with your home’s title can ruin the entire sale. For example, encumbrances, outstanding liens, trust issues, or encroachments can completely delay or cancel a contract. A real estate attorney can step in during these circumstances to create a resolution. Otherwise, real estate attorneys are not required in Florida. 

Agree To A Contract

Once you and the buyer have agreed to a contract, you are then legally committed. Canceling the contract may also require an attorney. 

Schedule an Appraisal

Next, you’ll hire a certified appraiser to review the home to make sure that the price is accurate. The buyer can decide to cancel the contract only if there is an Appraisal Contingency in the terms. This is if the appraisal is far less than the expected price. 

Have A Home Inspection Performed

Your real estate agent can provide you with a home inspection checklist. Generally, you will need to prepare your attic and garage for inspection by making space for the inspector. Your contract may also require a roof certification. This means a licensed company may conduct the inspection for termites and other pests. Older homes may need a sewer inspection. 

Mainly, buyers will be looking for health and safety issues with your home. 

Provide Seller Disclosures

Once everything is known about the home, the buyer will receive a home inspection report. The title company will also provide covenants. This includes the conditions and restrictions for the homeowner’s association if applicable. They’ll also deliver other important disclosures, for example, lead-based paint disclosures if applicable. 

Negotiation After Home Inspection

If the home repairs are abnormal, the buyer may negotiate the price or request repairs. In some cases, the buyer may back out if there is an Inspection Contingency in place. This would allow the buyer to bow out of a contract after a dismal inspection report. You can offer to do a closing cost credit instead of repairs to help lower the sales price. 

Release Contingencies 

After the repairs have been resolved, you can ask the buyer to release all contingencies. You can cancel the contract if they decide not to. 

Your listing agent and the buyer’s agent will close the escrow at the closing appointment. You and the buyer will sign all final paperwork where you hand over the keys. 

Sign Title and Escrow Documents 

Closing paperwork can generally include:

• Original purchase contract
• Property survey
• Certificate of occupancy and certificates of compliance with local codes
• Mortgage documents
• Tax records
• Appraisal from home purchase 
• Homeowner’s Insurance
• Home inspection report 

Complete The Sale

After you accept the payment the property deed, deed of trust, and reconveyance will go to public record. You’ll be relocating according to the buyer’s possession rights. The deeds for the property are transferred to the buyer through the state registry and your payment is wired to your bank. This amount is minus your agent’s commission, closing fees, and repair credits. 

Be a step ahead of the chaos. Rather than being worried or fearful about the big sale of your property, follow these helpful tips. This can help reduce uncertainty and allow you to cope with the stress of selling your home. Avoid silly these mistakes when selling your home and follow the analysis of your listing agent.

Get ready for buyers to visit your home knowing that nothing bad can happen because you were prepared!

To learn more about the listing process or receive top-notch marketing for your home, get in touch with a licensed listing agent. With extensive education and experience, you’ll have your home ready to list to attract the right buyers. Contact us today for a free consultation or drop in at one of our Vero Beach, Sebastian, India-Atlantic, or Melbourne locations in Florida Space Coast and Treasure Coast. 

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