Selling a house probably isn’t as simple as we’d like it to be, but it’s not as complicated as it may seem at first glance. As with anything, if you break it down into the constituent steps of the process, it will be much easier to understand and accomplish – despite the legal and financial complexities and the mountain of paperwork. To that end, we offer this step by step guide for selling a house in Los Angeles.
Decide For/Against an Agent
You have two basic options for selling a house in Los Angeles: sell it yourself (FSBO) or hire an agent. If you sell your house yourself, you’ll have to do everything yourself – listing, marketing, showing, negotiating, and more. A real estate agent, on the other hand, will do all this for you, making your life easier and often getting you a better price and a faster sale.
Determine the Price
The first step in the actual process of selling a house in Los Angeles involves determining the price. It’s a true balancing act where you have to weigh maximum profit against buyer appeal. The main factors you’ll need to consider for pricing are:
- The prices of comparable recently sold homes in the area
- Market conditions
- Local economy
- Appraised value
- Seller needs, such as how fast you want to seller
A comparative market analysis is your best tool for arriving at a competitive price. (Contact your local agent to find out more about this. Just call 562-881-9811.)
After determining the price and listing your home, you will then begin showing it to interested buyers. A successful showing that ends in an offer, is mostly the result of preparation, which includes:
- Making (at a minimum) minor repairs and cosmetic upgrades
- De-cluttering and deep cleaning
- Improving curb appeal
After you begin showing your home, the next step in selling a house in Los Angeles, if everything goes right, is negotiating. You will begin to receive offers and try to bargain for the best deal.
You don’t have to accept an offer – you can always reject it outright or make a counteroffer. An offer doesn’t become binding until both seller and buyer sign the offer to purchase contract. That’s why it’s important to have an experienced agent in your corner to help you negotiate the best deal, including contingencies before that contract is signed.
Preparing for Closing
After the negotiations have resulted in a signed contract, you will then begin preparing for closing in the process of selling a house in Los Angeles. And a lot has to happen before the actual closing, including:
- Home inspection
- Title search
- Property survey
- Septic certification (where applicable)
- Final walk-through 24 hours prior to closing
- Final disclosure
The final step in selling a house in Los Angeles, the conclusion and finalization of the transaction, is closing. During the closing, which takes place on a specified and agreed-to date, money changes hands, the deed is delivered to the buyer, the title is transferred, and previously agreed-on costs are paid. All of this includes the signing of several documents, such as the deed and mortgage or deed of trust. Ultimately, you get your money, and the buyer gets the key to her new house.
Listing and Marketing
While this step actually occurs early in the process of selling a house in Los Angeles, we left it for last in the place of prominence because it is so important. Crafting an arresting compelling listing is critical if you want to draw potential buyers in, and marketing that listing to a laser-targeted market is the only way to sell on your terms. But how do you do those things? The best way is to hire an experienced local agent.