The real estate market in 2020 in the US was one of the best seller’s markets that anyone had seen in a long time. With existing home sales setting records in terms of price and time on the market and a record low inventory, many real estate agents have been quoted saying that it was the craziest season they’ve ever experienced.
All signs point to the beginning of the 2021 season still being a strong seller’s market.
Are you interested in selling a house but aren’t sure of the timeline for selling a house?
Let’s take a look at everything you need to know.
Prepping the House For Sale
When you are selling a home, the process technically starts before you’ve even signed any paperwork with a realtor.
During this time you’ll want to:
- Reduce clutter
- Make small, low-cost repairs
- Boost your curb appeal
You’ll likely spend 1 to 3 months getting your home ready for sale.
Listing Your Home
Once you sign the listing paperwork with the real estate agent and list your home, you might start getting offers the same day or it might take months or even years to receive a reasonable offer.
Things like the condition of the home, the law and location, market condition, seasonality, and asking price can impact how quickly it takes for someone to make a reasonable offer on your home.
Negotiating With a Prospective Buyer
You will work with your real estate agent once you an offer to negotiate terms that work for both parties. The back-and-forth during this time should only last between 1 to 3 days.
The Pending Period
After terms of been agreed upon, there is a pending when repairs might occur, inspections, and other preparations. The buyers will also likely be tying up any loose ends with their financing.
Congratulations, you finally made it! The closing is the last stage in the home selling timeline when all of the documents are signed, the property transfers recorded, and money and keys are exchanged.
Timeline For Selling a House: What If I Don’t Have That Much Time?
While following this timeline is the way that people traditionally sell their homes, there are other options. One of the fastest ways to sell your house to an investor for cash. It’s important to be wary of scams in doing so, as you might find that some people are simply trying to take advantage of you.
You can follow this link if you’re thinking you want to “sell my house fast for cash.”
How Long Does It Take to Sell a House? Final Thoughts
How long it takes to sell a house depends on a lot of different factors including the market, your location, your property, and much more. If 2021 is anything like 2020 was, though, houses will continue to sell faster than usual.
Did you find this article on the timeline for selling a house interesting? If so, be sure to check out the rest of our blog for more fascinating and informative content!