How Long Does It Take to Sell a House?
How long it takes to sell a house depends on various factors including local market conditions, demand, the decisions you make about your home, and how you approach the selling process.
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Hire a Real Estate Agent
A real estate agent can help you sell the house if you don’t have the time and effort. A realtor will provide a clear picture of the current trends in the local market and will guide you in market analysis. The agent should communicate clearly about the market value of your home, the process of selling, and what to expect.
Prepare the House For Sale
Prepare your house to be listed on the market this will be helpful for you to find the potential buyers. Complete all the maintenance and repair works before you market your house. If your house is appealing to the buyers they will definitely buy it. Make your house presentable this will lead to quicker sales.
List and Show the Property
Once everything is prepped, fix the price of your home and list it on the market. If the listing is done, your real estate agent can schedule showings and invite potential buyers when they visit the property. The home sits on the market for about 22 days normally but it can vary also. January, November, and December are the slowest months for selling a property.
Accept an Offer
If the offer is received, the response time may depend on the contract. Some contracts set offer time limits – 24, 48, or 72 hours – to see how long each party has to respond. Once it expires, the contract will be closed and a new offer must be submitted.
Appraisal and Inspection
After accepting an offer, the buyer’s mortgage lender will check the appraisal of the property to determine the fair market value. The time for the appraisal process depends on the complexity of the appraisal as well as the appraiser’s schedule and workload. It can few days to a few weeks. Before closing, the inspection must be done which takes 7 to 10 days.
If there’s an appraisal or inspection contingency in the contract, the buyer can negotiate repairs or they can skip your deal if there are any problems.
Finally, both buyer and seller should sign a contract.