Are you ready to sell your home in Michigan? Our step-by-step guide breaks down the entire process into seven easy steps. Learn how to find real estate agents in Novi, Michigan, appraise your home, negotiate with buyers, make deals that work for you, and more!
Now is the time to sell your Michigan home! According to the latest statistics, property prices in the state have increased by 5% and are expected to increase by another 4% next year. Of course, even the best real estate in Michigan will be challenging to sell if the home is undervalued, mismarketed, or poorly negotiated. That’s what realtors in Michigan are for! Learn the seven essential steps to selling your Michigan home quickly and profitably.
Selling a house takes work, and it takes expertise to get good results. If you want to sell your Michigan home for the best price and with as little stress as possible, you need to find a top-rated real estate agent in your area. The best real estate agents in Michigan know precisely what local buyers want and how to get them the best real estate deal. They offer advice, guidance, and support throughout the process. Sellers who partner with real estate agents earn an average of 33% more than those who do it independently. In other words, the services of real estate agents are worth the financial investment.
If you want to sell your home quickly for the best price, track market trends and understand the strategic times to list your property. June is a great time to sell your Michigan home as quickly as possible. The average number of days an ad is on the sales market in June is only 17 days. In contrast, Michigan homes for sale in January were on the market for an average of 40 days. Please note that the number of days on the market does not include the time required for closing. We anticipate that it will take another 30-40 days to finalize the agreement for the sale of the property. Houses sold in June also went for a higher sales price compared to other months.
Run a comparative market analysis (CMA) to inform your asking price. A CMA determines a competitive price based on current market conditions. When conducting a CMA, real estate agents look at current listings, recent sales, and pending home sales to understand how to value your home realistically. Other factors, such as local real estate trends and sales goals, are also considered.
When you’re ready to sell, the next steps are marketing, staging, and showing your property. Two-story houses sell faster than single-story houses. About 50% of real estate agents say that these homes sell better. Do everything you can to help potential customers imagine living in your home. To achieve this, you need to understand what your local buyers want and how much they are willing to pay. A local real estate agent or brokerage firm can help make your home a Michigan buyer’s dream home. Write the most informative description of the ad for sale and include excellent photography. Many buyers have started looking for housing on popular real estate sites. With thousands of listings on these sites, you need an informative, accurate description to make your home stand out and convey important information to potential buyers. Start with professional photography of your home. Work with your real estate agent to select photos that will make your home unique and memorable to buyers.
An advertisement for the sale of real estate should contain all the necessary information without overwhelming the recipient. Use bulleted lists, so your home’s highlights stand out. The ways to advertise your home are endless. Your real estate agent will handle most of the marketing, but we recommend posting a For Sale sign in your yard and sharing your listing on social media. Hosting tours and open houses are a great way to propagate interest in your home. We hope your property will attract buyers to visit your home on the doorstep. But that means you have to hold open houses. Sure, it can be inconvenient sometimes, and you need to keep your home clean and tidy, but it’s worth it in the end.
If the buyer makes an offer, you can either accept the offer or make a counteroffer. Negotiations continue until both parties reach a mutually beneficial arrangement and sign a sales contract. The sales agreement sets forth several conditions that must be met for sale to close, including due diligence and approved financing. If these conditions are met, the sale may continue.
The next steps to complete the sale require an inspection and appraisal. For the buyer, this is an essential step in buying real estate. Your home should have enough value for the price you want to get for your property. If something is found during the visual inspection, renegotiations determine who will bear the costs or perform the repairs. The buyer can ask the seller to lower the sale price or pay for repairs. Whether you, as a seller, accept any of these requests will depend on local market conditions. So check with your real estate agent before making any concessions to the buyer.
You can sign all the necessary documents and close the real estate sale agreement if all goes well. On the day of the closing, the buyer will do a final inspection of your home before meeting with you to sign the closing papers and receive the keys. Selling a house involves many formalities, and it’s a good idea to check with your agent before signing any necessary documents. Michigan law requires nearly all home sellers to complete a Seller Disclosure Statement before selling a home. This form asks the seller to list any known problems with the home that may affect the buyer’s desire to purchase. The absence of accompanying elements may lead to the buyer’s termination of the contract of sale or legal action if the property has already been sold.