Mindy Jensen - How to Sell Your Home: The Essential Guide to a Fast, Stress-Free, and Profitable Sale

HOW TO SELL YOUR HOME

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How to Sell Your Home
Mindy Jensen

Published by BiggerPockets Publishing LLC, Denver, CO

Copyright 2018 by Mindy Jensen.

All Rights Reserved.

ISBN 9780997584738 (pbk.) | 978-0-9975847-4-5 (ebook) | LCCN 2017953887

Dedication

For Carl, because I would not be what I am today without you.

For Claire and Daphne, because youre my world.

And for my parents, who showed me that moving really isnt that hard.

Contents

Preface

Youre considering selling your home. This is a huge decision. You may have lived in the home for many years and grown very attached to it. Perhaps your children took their first steps in the home or figured out how to ride a bike down your street.

In a hot market, the home-sale process could be as easy as listing your house, having a handful of showings, and trying to decide which of the many offersand at what termsyou should accept. You are in control of the entire process, and buyers will do almost anything for the privilege of buying your home.

In a cold market, the experience is very different and could entail a lot of sitting around and waiting, getting your hopes up during every showing, and being very disappointed when no offer comes through. You are at the mercy of any buyer who comes along, especially if you have to sell. There are still many markets that fall into this category, unfortunately.

Unless you buy and sell homes every day, you may be surprised at what pops up during the course of a salefrom inspection issues to appraisal problems to last-minute mortgage denials. A sale isnt sold until everyone signs everything and the money changes hands.

You will always encounter surprises.

No two home sales are alike: no two buyers, no two sellers, and certainly no two houses. While every sale is different, there are consistent elements in every residential real estate transaction. There is always a property, a buyer, and a seller. Here, you are the seller.

If youve never sold a house before, you are in for an adventure. While it would be nice if you just listed your home and someone handed you a giant pile of cash and it was sold, that isnt how it works. Theres a lot more to it than that!

If you have sold a house but its been a while since you went through the steps, youll find that things have changed. A lot! There are new laws and regulations, new procedures, and even new types of loans your buyer may be usingand not every loan is created equal.

But never fear, dear reader. I have sold houses and sold them recently. Ive been through the changes, and I will hold your hand throughout the entire experience. I will outline the most common scenarios you may encounter during your sale to help you arrive at the closing table with as few surprises as possible.

ABOUT ME

Im a licensed real estate agent in Colorado. In addition to helping people buy and sell their homes, Ive been investing in real estate for almost 20 years. Ive flipped eight homes and owned a few rental properties. I love everything about real estate and love teaching others. In fact, I work at BiggerPockets, the number one company in real estate investment education. As the community manager for BiggerPockets, I talk to real estate investors all day long. Im entrenched in my local real estate market, and my contacts with investors across the United States have given me a great understanding about many other markets across the country.

Ive sold houses in many different types of markets. This book is for anyone who needs to sell his or her home but isnt quite sure how to get that accomplished. If youve never sold a home, you might be surprised at everything you need to do. Its not difficult, but if you miss a step, you could put your sale in jeopardy.

As a homeowner, its easy to get overwhelmed. Selling your home involves more than just putting a sign in the front yard. If youve lived in the home for a long time, youre going to need to get it ready to show before you can allow people in. Ill share tips from my personal experiences as well as mistakes Ive seen homeowners make.

If youre an investor, your road is a little different because you likely have not lived in the home. It may be a rental youve owned for years or a home you just bought, fixed up, and are now selling for a tidy profit. Now that youre in the home stretch, it might make sense to try to sell it yourself instead of hiring an agent. Or it might not.

Ill address all these subjects and more!

Throughout the book, Ive included stories drawn mostly from my own experiences with selling homes. While some of those endeavors were personally painful, I hope that they will help you avoid some issues I have lived through. After all, experience really is the best teacher.

Ive also included tips in every chapter to drive home the key points to remember in the selling process.