Selling your Tri-Valley home doesn’t have to be difficult, but it can definitely feel overwhelming to begin with!
If you’re wondering how to sell your Tri-Valley home quickly, smoothly, and for the most money, then you’ll want to keep reading!
We’re going to dive into exactly how you can sell your home in the Tri-Valley area, even in a year that’s as volatile as 2023. No matter how the market looks, it’s always possible to sell your home, and this is how you can do it!
How To Prepare for Selling Your Tri-Valley Home
Before you begin the selling process, there are a few questions you want to ask yourself and a few steps you want to take to prepare. Let’s dive in.
1) Ask Yourself: Are You Really Ready to Sell?
Don’t begin the selling process if you’re not ready! In the last few years, the seller’s market was on fire…but as of 2023, things are slowing down a bit for sellers.
Every area is different, but the truth is that there have been plenty of sellers this year who are sitting on For Sale homes for months.
Do your research, talk with a local REALTOR®, and make sure your family and budget can handle a more uncertain market. Even though the market is unpredictable, if you need to downsize, size up, move for a job, etc., you’re going to have to move anyway. As long as you’re financially stable and have equity to put towards a new home, you CAN sell anytime.
2) Establish Your List Price
The most common reason that a home won’t sell is because it’s priced too high. While you may love your home and all the benefits it provides, your own feelings can’t set the right price. To establish the correct price, you’ll need a CMA, or a Competitive Market Analysis.
To get a CMA, talk to a local real estate agent. They will run a CMA comparing your home with similar homes in the area. In general, they’ll look at homes in the same or a nearby neighborhood with similar square footage and number of bedrooms and bathrooms.
The CMA will help the real estate agent determine what other homes are selling for and what you can likely get for your home based on its similarities and any unique features that might increase or decrease its value.
3) Choose Your REALTOR®
As you noticed, you need a real estate agent to run a CMA for you. In most cases, the agent will run that CMA when you’re considering hiring them—the CMA can function like a test so that you can decide if you like the way they work.
So, how do you choose the right REALTOR® to help you sell your Tri-Valley home? Well, there are a few things you want to consider when choosing an agent:
- Is the agent confident they can help you?
- Is the agent ready to serve your needs?
- Is the agent someone with whom you feel comfortable?
- Does the agent have good reviews and testimonials on Google, Yelp, their website, Zillow, etc.?
Talk with agents, read their blogs, watch their videos, and review testimonials. This should help you find the right agent to help you sell your home!
4) Understand Your Net Proceeds
It’s crucial that you understand what your net proceeds will be before going in to sell your home. You don’t want to be blindsided if your proceeds are not what you were hoping for! There are two ways to find out what your net proceeds will likely be:
- Your agent will prepare an Estimated Seller’s Net Sheet.
- The title company will prepare the Estimated Seller’s Net Sheet.
In general, it’s better if the title company does it, since title companies know more about location-specific fees and can usually provide a more accurate estimate. Just be aware that this sheet is only an estimate—things can change and unexpected expenses sometimes occur. However, they usually won’t be too significant!
5) Prepare Your Home for the Sale
As we navigate 2023, it’s important to know that buyers are a little more wary than usual of paying too much for a home, especially since they may think home prices are going to go down soon. Therefore, it’s a good idea to order pre-inspections before listing your home.
Order a roof inspection, termite inspection, and a general inspection so you can have the reports ready and, if possible, prepare issues before buyers start looking at your home. If you can’t afford to fix issues, you can always lower your list price so that the buyers are more comfortable buying a home with a few issues.
You’ll also want to clean your home and declutter as much of your personal belongings as you can. This gives the home a more spacious look for buyers who are considering how their own belongings will fit in this space. If you’ve already moved out, consider getting your home staged to provide a warm and welcoming feel for pictures and open houses.
Finally, make sure you have completed all seller’s disclosures (such as the Transfer Disclosure Statement or TDS and the Seller Property Questionnaire or SPQ) before you list your home on the market.
6) List Your Home on the Market
You’re finally ready to list your Tri-Valley home! Now, it’s time for your agent and the buyers’ agents to start setting up showings and open houses so that buyers can see your home and decide whether they want to make an offer.
If possible, it’s best if you and your family can stay with friends or family members during this time, especially in the first few days and/or the first weekend (when the agents will likely schedule the first open house).
If you can’t stay somewhere else, that’s fine! Just set some specific times each day or week when agents can bring potential buyers by. And, if possible, keep your family out of the home from around 10 a.m. to 4 or 5 p.m. on the weekends to allow for more showings or open houses.
The Biggest Challenge for Tri-Valley Sellers in 2023
Now, here’s the deal. 2023 is not like other years.
With inflation continuing to rise and the news channels constantly harping on about rising interest rates, most homebuyers are terrified they’re going to end up paying too much for their new home.
It’s not unusual for agents these days to get a call right in the middle of the sales process explaining that the buyer has changed their mind. While this will be incredibly disappointing, realize that it’s not the end of the world—there will be a better buyer out there!
In fact, there are a few things you can do to avoid meeting this problem altogether.
1) Prepare a Seller’s Disclosure Package
Before you list your home on the market, ask your real estate agent to put together a seller’s disclosure package. This contains the inspection reports and disclosures we discussed above, which are crucial for showing your buyer that you (and your home) are prepared for this sale.
2) Make Sure the Offer You Accept Is Subject To the Seller’s Package
You want the buyer to look carefully at the seller’s disclosure package, sign an offer, and return that to you within 24 hours. This shows that the buyer understands the issues or limitations on your home and is prepared to follow through with the purchase.
3) Ensure the Buyer’s Deposit is In Escrow Within 24 Hours
After you accept the offer, you want to see the buyer putting their deposit into escrow within 24 hours.
This, again, proves that the buyer is serious about their offer. To ensure that this happens, you can choose one of two methods:
- Have the listing agent and buyer’s agent discuss the terms.
- Have your listing agent counter the buyer’s initial offer with the above terms.
Either way, if your buyer is okay with following through on these terms, it means they’re ready to buy
your home. Once they put that deposit down, they’re ready to move forward and likely not still looking at other homes to see if they can find a better deal.
If the buyer isn’t okay with these terms, then rejoice! You just escaped a bad deal with a buyer who wasn’t serious and avoided having to put your home back on the market.
Ready To Sell Your Tri-Valley Home?
Now that you’ve gone through the steps of how to sell your Tri-Valley home and understood the risks
involved, are you still excited to sell? If so, then this is the year for you to sell that home and get moving!
To know more about the Tri-Valley area, please read: “Everything you need to know about the Tri-Valley area”
If you have any questions about the selling process, want to know more about your specific home in the Tri-Valley area, or want a CMA of your own, don’t hesitate to reach out.
now if you have any questions. Warren
——————————————————————————————-
🏚️Get Warren’s Top Tri-Valley Homes under $$$ (Includes condos, Townhomes and single family) 🏠
- 🏡PLEASANTON ($1.4M)
- 🏡LIVERMORE ($800,000)
- 🏡DUBLIN ($1.2)
- 🏡SAN RAMON ($1.3)
- 🏡DANVILLE($1.4)
- 🏡ALAMO ($2M)
Hello…I work with both buyers and sellers in the Northern California area.
My real estate spans from the East Bay (Tri-Valley) to the Greater Sacramento areas.
To better understand what each city has to offer, I have created a Pros and Cons videos and articles for each Tri-Valley Area:
If you are thinking about purchasing or selling a home, please reach out to me by text, phone, or email. If it is convenient, I can schedule a Zoom chat so we can discuss your home goals. Wishing you all the best on your home journey. Cheers!
eXp Realty
(925) 980-4603
DRE # 01861944
ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED THROUGH SOURCES DEEMED RELIABLE BUT CANNOT BE GUARANTEED AS TO ITS ACCURACY. SUBJECT MATERIAL MAY HAVE ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ANY INFORMATION OF SPECIAL INTEREST SHOULD BE OBTAINED THROUGH INDEPENDENT VERIFICATION.
