One of the biggest questions asked when someone is selling their home is “How Long Will Selling My Home Take?”
There is no definitive answer to that question as there are many factors that go into the entire process of selling your home. We have compiled a useful timeline that will help outline an average timeline from start to finish during your sale process. Check it out below.
How long will selling your home take?
Timing is almost everything when selling your home. Perhaps you are trying to line it up with a new purchase, a rental or even starting a new job. No matter your situation or reason for selling your home, it is nice to know what to expect and what to plan for.
Remember, there are a multitude of factors involved in a home sale. Any one of the steps can present a delay within the process. There are decent averages that will help you gauge the outcome, but again, there is no definitive answer.
However, with that being said, let’s take a look at some steps and how long each step should take on average when you are selling your home.
Prepping Your Home for Sale
The first step when you are selling your home is to prep it for sale. The time this step will take varies from house to house depending on the condition.
The first step in prepping your home is assessing it for repairs. If your home is in great shape, you may only need to do a thorough cleaning. Therefore, this step may be really quick. However, if your home maintenance has slipped a bit, you may be in for more time during this step.
It’s possibly you are thinking about doing the repairs yourself, but remember, most only work on projects or repairs during their free time. If you do not have a lot of free time, this will only add to your timeline. If your repairs are bigger than you can take on and you want to save time, it is best to hire a professional to handle your repairs.
A good impression starts at the curb when it comes to selling your home. As soon as the potential buyer pulls up near your home, they will have drawn a conclusion within three seconds.
Take some time to examine your exterior and your lawn. Perhaps you need some attention to details to your landscape or your siding could use a good cleaning. Add value to your curb appeal quickly by power washing your exterior siding and sidewalks. Add a pop of color in your landscaping or in flowerpots to display outdoors and quickly your curb appeal will shine.
The actual moving day is a lot to think about and prepping for it as early as possible is ideal. Go ahead and start packing up unused items now and store them away. Cleaning out clutter is a great way to minimize the amount of time your actual moving process will take.
Now that your home is prepped for sale, it’s a great idea to have those photos taken for marketing your home for sale. It is proven that professional photos sell homes faster so don’t skimp on this step. Afterall, the idea is to sell as quickly as possible.
The amount of time it will take to prep your home varies on how well you have maintained your home, how much stuff you have accumulated and the steps you take to add value to your curb appeal. On average, a good timeframe for prepping is anywhere between 10 to 45 days. Of course, if your home needs a lot of attention, this could take longer.
Listing Your Home for Sale
A lot of how long it takes for your home to sell also has to do with your area’s market. Some homes sell within just a couple days, or even hours, whereas others can take weeks or even months. You can predict the average amount of time your home may be on the market by examining average days on the market of other homes that have sold in your neighborhood.
There are many factors that help determine how quickly your home will sell:
- The condition of your home
- Your listing price
- How your home is marketed for sale
- The availability of your home for showings to potential buyers
It’s a great idea to hire a professional real estate agent. They can help you determine the best plan to sell your home as quick as possible within the local market. Your real estate agent will be able to provide statistics for you regarding how many days homes are remaining on the market that are comparable to you as well as educate you as to whether your market is hot for sellers or buyers currently.
Cash offers close the quickest, so if you end up with a case offer, it could take as little as one day depending on the circumstances. In most cases, buyers will present offers that are supported through financing with a lender. This process can take longer as the proper inspections, appraisals and lender underwriting need to be completed prior to purchase. On average, the final closing will typically occur within 30-45 days of the financed offer acceptance.
If, for any reasons, there are kinks in the process of the inspection or appraisal, there can be an effect on the timeline. And in the worst-case scenario, the buyer’s financing may fall through and you end up back at square one.
In some cases, sellers receive multiple offers and your real estate agent may suggest accepting a back-up offer. Back-up offers are great to have when your expected buyer was not able to complete the purchase due to financing reasons.
The timeline to the final sale of your home varies greatly due to many factors influencing the length of time. If your home is already in great condition, you could sell it very quickly. To know how you should evaluate your current market and how long it may take, you should contact a local real estate agent.
No one is able to give you an exact timeframe, but a real estate agent would be able to advise you of a plan to sell your home as quick as possible.
Bottom line, when you are ready to sell your home, you should start the process as soon as possible so in the end it does not hold you up to moving on to your next chapter.