Selling Your Home

Congratulations—you’ve got an offer on the table (or maybe you have several!). Now you move into the final step of the process:

Review offer(s)

Examine all offers carefully—even if they seem too low. There’s usually always room to negotiate. Additionally, don’t focus on price alone. Some buyers may have other terms that are just as attractive (short closing, fast inspection period, etc.).

Once you’ve found an offer that best meets your needs, you can either accept it or make a counteroffer. Your counter may include an increase to their offer price or a change to other terms outlined in the contract (inspection period, closing date, etc.). Your agent will work with you to determine a fair price and reasonable terms and will negotiate with the buyer’s agent.

 

Finalize the contract

Review the sales contract thoroughly with your agent. Once you and the buyer agree on the sales price and other terms, each party will formally accept by signing the sales contract. While each contract is different, typical terms outlined in the agreement include: inspection period (if applicable), closing date, and other seller/buyer contingencies that must be met before closing.

Tip: Most contingencies benefit the buyer. For example, buyers can walk away from the contract if the inspection turns up too many issues or if the appraisal is lower than expected. Make sure you understand all the details before signing.
 

Close!

Closing on your new home takes place after all terms and conditions of the contract have been met. This is the last step of the process and one of the most important! As the seller, closing is when you receive the proceeds from the sale and transfer ownership to the buyer. You’ll use those proceeds to pay off your current mortgage (if applicable) and any other costs from the sale will be deducted.

Each closing is different—and every state has their own laws—so talk to your agent about your responsibilities on that day.

 

Don’t forget to plan your move!

If you’re purchasing a new home or if you’ve decided to lease, review our Rent and Buy sections for helpful tips on these topics.

BEWARE

SCAMS

Learn how to identify and avoid scam artists who promise immediate relief from foreclosure.

FIND OUT MORE

FAQ

ANSWERS

Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.

FIND OUT MORE

GLOSSARY

TERMS

Visit our glossary of key terms to increase your understanding of the foreclosure options available.

FIND OUT MORE