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No one likes to wait. Especially when you are planning to sell something. So today we are going to answer one of the most common questions- how long does selling a house take?
Learn everything about the variables, complexity, and expert assistance from The Valley Life pros.
What are the Steps Involved in Selling a Home?
A home-selling process usually involves some crucial and unavoidable steps. Here’s what you can expect:
Preparation & Staging
It all begins with the prep work. The focus here is to make the property attractive and bring back its former glory. This step can take anywhere between 1 and 4 weeks, depending on the complexity.
Listing & Marketing
What do we do after we make something pretty? We take a picture of it! So this part of the process is all about advertising and promoting the property. It's an ongoing process, and it can vary.
Showings and Open House Tours
Once the listing has been done, potential buyers can come and inspect your home to get a better idea of it. Their questions are answered, and if they have any specific requests, those are discussed. It can take anywhere between a week to 3 months.
Offer Negotiation & Acceptance
This step is self-explanatory, as with any transaction, there is a negotiation phase involved. This can take anywhere between 1 to 7 days.
Financing & Contingencies
This step is where the buyer has almost made up their mind. So both parties discuss financing options and contingencies and come to an agreement.
Closing the Deal
Finally, it's time to close the deal. When both parties come to an agreement and everything checks out, they close the deal. This includes signing documents and making payments.
So, overall, this process can take anywhere between 2 to 6 months or even longer. Each home has its own variable factor.
Things to Consider When Selling a Home
When you are selling your home, there are lots of important factors and variables that determine how long it will take to sell. For instance:
Market Conditions: Current demand in BC.
Property Price: Realistic pricing aligned with market value.
Property Condition & Presentation: Well-maintained and staged homes sell faster.
Location: Desirability of the neighborhood within BC.
Marketing Strategy: Professional photography, online presence, agent's network.
Your Real Estate Agent's Expertise: Local knowledge, negotiation skills.
Expert Tips For Selling Your House
Here are some tips from the experts at The Valley Life:
Set the right price from the start.
Put money into getting your home ready and staged.
Be open to showing times.
Respond quickly to offers and messages.
Find a local real estate agent who has a lot of experience.
Frequently Asked Questions (FAQ)
Here are some of the most common questions sellers have:
What is the current average number of "days on market" in BC?
This varies by region, so there is no definitive answer.
Can I provide incentives to sell my house more quickly?
Yes, you can draw in buyers and possibly speed up the sale by providing incentives. For example, mortgage rate buy-downs or paying closing costs.
Does the weather affect how long it takes to sell?
Of course! Generally speaking, the best seasons to sell a house are spring and early summer.
What occurs if I don't sell my house right away?
If your house isn't selling, think about changing your marketing approach, improving the home's presentation, or reassessing the price to pique buyers' interest.