Tucson Home Seller's Guide Outline
Your Sale Timeline
What Selling Your Home in Tucson Looks like - Start to Finish
An Overview of the Timeline for Your Home Sale
When you decide to sell your home in Arizona, what does the home sale timeline look like? See the outline below so you can float through the process with ease, always one step ahead of the game.
Step 1 of the Home Sale Timeline
You have made the huge decision to sell your home in Tucson, Arizona. You start checking out market conditions and estimating the associated profits and costs.
Knowing the current market trends puts you ahead of the game. How long have homes been taking to sell lately? What should I expect from buyers right now? Which direction is the market going, and does it currently favor sellers or buyers?
Once you sell the home, do you know how much will go to pay off any current loan, and how much will be spent in closing costs?
Ask your realtor® these questions so you can have reasonable and appropriate expectations before you proceed to sell.
Step 2 of the Home Sale Timeline
You hire a Realtor® to consult with you on the many important factors of selling your home, as well as negotiate on your behalf and deal with any issues that may arise along the way.
Step 3 of the Home Sale Timeline
Your Realtor® will help you evaluate the current real estate market and all relative factors about the property so you can be sure not to over or under- price your home.
Naturally, you want to get the most you can for your property and not leave any money on the table.
Pricing your home right can be tricky, but it isn’t rocket science. It requires a careful analysis of the current market conditions. When recommending a price to you, your agent should consider three major factors.
1) What are comparable homes selling for and how long is it taking them to sell?
2) How does the condition of the average comparable home compare to the condition of yours?
3) What other options does a buyer have when considering your home?
This gets you to a price range. From there, you need to aim for Goldlocks Pricing.
Priced Too High
If you’re not particularly in a hurry to sell, you may be able to get a higher price with patience, but keep in mind what happens in the buyers’ minds when your home has been on the market longer than the average.
When your property first hits the MLS (the multiple listing service database), its biggest reach is in the first 3 days. If your strategy is to aim high, and then lower the price as needed, your potential buyers may be turned off immediately by the price, and when it doesn’t sell right away, they tend to think something is wrong with it. That is not to say you won’t still be able to find buyers once you lower the price, but the numbers will be fewer and that typically translates to a lower sales price in the end.
Priced Too Low
Of course, pricing your home too low can simply yield you fewer dollars, but it can also give buyers the impression that there may be hidden flaws.
Priced Just Right
The magical price is where it looks attractive to buyers right out the gate, and multiple offers come in, yielding you the natural market value of your home – what the highest bidders are willing to pay. That’s the sweet spot.
Step 4 of the Home Sale Timeline
You perform necessary repairs and ensure your home remains clean, staged and landscaped throughout the process. You want your home to look its absolute best from the professional photo shoot through close of escrow.
Download my free guide on The Preparation
Step 5 of the Home Sale Timeline
Your Realtor® will market your home on many platforms to be sure it is seen by as many potential buyers as possible, as to command its highest price.
To see what you get when you use me as your listing agent, visit my Your Listing Agent page.
Step 6 of the Home Sale Timeline
Once your property attracts an offer (or multiple offers), your Realtor® helps you to understand the offer(s), prepare a counter-offer if you wish, and process the paperwork to accept the negotiated contract and keep things moving forward. The potential Buyer dictates the timeframe for responding to their offer in the purchase contract.
Step 7 of the Home Sale Timeline
Your buyer has (unless negotiated in the contract) 10 days from the contract date to perform all inspections and back out of the contract (they keep earnest money) or request repairs. You then have 5 days to respond to their request for repairs. Your agent will help you coordinate the scheduling of inspections with the buyer’s agent. Your Realtor® also helps you negotiate any repairs requested.
If you have a septic system, you have 20 days from the contract date to perform a septic inspection.
Step 8 of the Home Sale Timeline
The buyers will perform a final walk- through of the home prior to closing. This ensures the home is in the same condition it was in when they first visited. Once the closing documents are signed and the buyer’s final funds are received, the deed is recorded with Pima County and escrow is closed.