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The first thing to do when selling a house is to collect information and not rush to make important decisions. Why? Because, thanks to seller-friendly home sale innovations, you may have better options than the traditional, expensive way of selling your home with an agent.

 

Important things to research and consider:

 

- **Does it make sense to list with an agent or list [for sale by owner](https://www.offermarket.us/real-estate-glossary/fsbo)?** Are you willing to give a zero commission, low cost home sale platform like OfferMarket a shot?
- **What is the state of your local market?** How much inventory is there, what have similar homes sold for recently? (see [comps](https://www.offermarket.us/real-estate-glossary/comps))
- **What net proceeds are you looking to receive from your sale?** After all of your costs and loan payoff, what amount do you think is feasible? How much with a zero commission home sale contribute to your net proceeds?
- **How much is is going to cost to sell a house the traditional way with a broker or agent?** This includes 5-6% commissions, closing costs, repairs, staging, concessions, etc.

 

Our mission is to empower everyone to sell their house without agents or commissions. Let us know if you have any questions!

The first thing to do when selling a house is to collect information and not rush to make important decisions. There's more to learn at OfferMarket.

What is the first thing to do when selling a house?

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What is the first thing to do when selling a house? - OfferMarket FAQs

If you're reading this article, asking yourself *should I sell my house?*, we hope you know that whatever the reason for selling may be, you are not alone, and you have options. We are here to help you make the best decision and - if you do decide to sell - get the highest net proceeds for your house.

 

We believe that owning residential real estate is a powerful tool for long term wealth creation and - in an ideal world - you would never need to sell your house. In reality, however, owning and holding on to real estate is not always the right decision.

 

The most important thing is to make the best decision for yourself and your family. If after thinking through the ideas in this article, you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell.

> If you decide to sell, your goal should be to sell for the highest net proceeds possible within the timeframe you need to sell, with the lowest level of stress.

 

## Things to consider:

 

## Why are you considering selling your house?

 

Understanding why you are thinking about selling your house is the foundation upon which a sound decision can be made.

 

The most common reasons people decide to sell:

 

- Financial issues
- Moving out-of-state
- Upgrading, need money for a down payment
- Health issues
- Don't want to deal with managing a rental property
- Inherited and would prefer the cash
- Retirement
- Downsizing

 

### Where are you at in life?

 

If you're approaching retirement age:

 

- are you looking to upgrade, downgrade or move to a warmer climate?
- would living in a single level home be more comfortable than climbing stairs?
- do you plan on traveling for long periods of time and not want to be stressed about maintaining and carrying a vacant property?

 

If you answered yes to any of these questions, then selling your home for the best possible net proceeds makes good sense.

 

## How much [equity](https://offermarket.us/real-estate-glossary/equity) do you have in your house?

 

Your [equity](https://offermarket.us/real-estate-glossary/equity) is the value of your house minus the loan you have on your house. If your house is worth $100,000 and you owe $50,000 to the bank for your mortgage loan, then your equity is $50,000.

 

Getting your [equity](https://offermarket.us/real-estate-glossary/equity) out of your house does not necessarily mean you need to sell. You can do a cash-out refinance which means your bank implements a new mortgage loan of let's say 75% of the value of your home ($75,000) amortized over 30 years, and returns $25,000 of your equity (minus fees) to you. Depending on current interest rates, your monthly payment amount may change. Moving forward you will continue paying down your mortgage but the clock has now reset and you have less equity in your home.

 

Getting [equity](https://offermarket.us/real-estate-glossary/equity) out of your house incurs transaction fees. Whether you're selling your house or cash-out refinancing, you will pay transaction fees that eat into your net proceeds. Being aware of these fees and eliminating and minimizing them wherever possible is a best practice. It's also why OfferMarket exists. 

 

## What are your goals?

 

Does owning a house align with your goals in life? If your goal is to travel the world and work remotely in the near future, then being responsible for owning a house might not be ideal. 

 

Accordingly, the equity house might help you achieve your goals. Being able to put that equity towards achieving your goals, so long as the money is allocated diligently, can deliver powerful liberating effects and hopefully provide you with happiness.

 

## What is the property worth?

 

Before we get too far along with the *should I sell my house?* question, let's consider how much your house is currently worth. If you bought your house 5 years ago for $100,000, and it's now worth $200,000 and you think that is over-valued, the timing may be right to sell your house. You will walk away with considerable financial gains thanks to appreciation and mortgage debt pay down.

 

If, however, you bought your house for $100,000 5 years ago and it would be difficult to sell it for more than $100,000, you're looking at two core options:

 

1. does it make sense to incur transaction costs to sell my house at this point?
2. could I achieve higher returns on my investment if I sell this house and invest the proceeds in something else?

 

## What is the outlook for my local housing market?

 

Real estate is hyper local. Different neighborhoods in the same city may be on very different trajectories as far as median home values are concerned.

 

## Am I able to comfortably carry the costs of owning my house?

 

**If we're talking about your primary residence:**

 

If the costs of owning your primary residence are well within your means, and you are happy living where you are, then it doesn't make sense to sell. 

 

**If we're talking about a rental property you own:**

 

If you are consistently earning [free cash flow](https://offermarket.us/real-estate-glossary/free-cash-flow) on a monthly and annual basis and therefore not "bleeding" money, then it would be hard to justify selling unless you can confidently invest your capital in an asset that will have higher returns.

 

## What other options do I have?

 

## It never makes sense to sell un an uncompetitive process

 

The keys to optimizing your net proceeds:

 

- **high** buyer competition
- **low** transaction fees

Should I sell my house? Thousands of homeowners are asking this important question. Learn our insights to help you make the right decision for you and your family.

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Should I sell my house? - FAQs - OfferMarket

Should I sell my house?

## Wondering who pays for staging a house -- the seller or the agent? 

 

It depends. Some agents will pay for a portion of staging costs, other agents will not. In rare cases the agent will pay for all staging costs.

 

## Before you go ahead staging your house there are a few important things we think you should know:

 

- Staging consultation fees can run between $250 and $500
- Staging fees can run from $400 to $600 per room per month
- [Virtual staging](https://www.offermarket.us/real-estate-glossary/virtual-staging) costs less than $25 per photo!

 

Traditional staging will cost roughly $2,000 - $2,500 per month for a 2,000 Sq Ft property. So, if you're like us and you believe unnecessary costs should be eliminated from the real estate transactions, you may want to opt for virtual staging or no staging.

Wondering who pays for staging a house? It depends. Some agents will pay for a portion of staging costs, other agents will not. There's more to learn at OfferMarket.

Who pays for staging a house? OfferMarket FAQs

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Who pays for staging a house? - OfferMarket FAQs

Who pays for staging a house?

Our mission is to transform the way real estate is discovered, transacted and managed. In order to accomplish our mission, we must be vigilant about listing authenticity to make sure that buyers and sellers have an excellent experience using our real estate marketplace. 

 

Accordingly, we take trust and safety very seriously and feel it is important to share with you our process for listing verification.

 

## Listing verification process

 

## ✅ Step 1: Manual Review

 

Our Trust and Safety team manually reviews every listing that is published on OfferMarket. We check state and local tax assessor databases and cross reference listing websites.

 

## ✅ Step 2: Request For Proof Of Ownership

 

If we are unable to verify home ownership or authorized representation (i.e. property manager), a member of our team will reach out to the phone number associated with the listing to request additional information to confirm the listing.

 

1. Valid government issued identification (i.e. drivers license, passport)
2. Copy of the deed
3. If representing the owner, we will request the owner's contact information and follow up to receive their consent to list

 

## Questions or concerns? Please call or text 443-492-9941.

We take listing verification seriously to ensure trust, safety and authenticity of all listings on our marketplace. Learn more about our listing verification process.

What is the first thing to do when selling a house?

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