If you’re thinking about selling your home, you’re probably wondering how long it will take. After all, if you’re like most home sellers, you’ve got bigger and better things to move onto. Whether you’re moving into a bigger home to accommodate a growing family or downsizing to save money, the sooner the better.
So, how long does the home selling process take? Should you expect it to take weeks, months, or longer?
It might surprise you to learn that the time it takes to sell a home is completely in your control. Based on your decisions, it can take as little as a week or several months.
Keep reading for everything you need to know.
Prepping Your House for the Market
If you want to know “How long does it take to sell a house?” the answer depends on your home’s condition. How much work does it need to be ready for the market?
The average homeowner spends over $21,000 making repairs and renovations. These renovations, of course, take time.
Big projects can take several days to several weeks. It also depends on the contractors you hire.
However, some people choose to sell their house as-is. In this case, you won’t need to spend any time or money on repairs or updates.
Home Inspections and Home Appraisals
In most cases, sellers must have their homes inspected and appraised. The buyer’s lender will likely demand it in order to back their offer.
While the inspection and appraisal processes don’t take long, they’re often scheduled several weeks out. This part of the home selling process can be frustrating, as you’re simply waiting on other people.
Giving Tours and Open Houses
Learning how to sell your home traditionally means listing it on the market and giving tours. Most home sellers also choose to host open houses.
Once it’s listed, selling a house becomes a waiting game. Essentially, you’re waiting for interested buyers to tour your home and decide whether or not they want to place an offer.
In a seller’s market, all of this can happen in a single day. In a buyer’s market, you can wait weeks before receiving a legitimate offer.
Receiving Offers and Negotiating With Buyers
A major part of the home selling process is sifting through offers from potential buyers. However, when selling a home, you’ll receive a ton of low-ball offers from buyers looking to get your house for next to nothing. This is when the negotiating starts.
The negotiation process can take a few days or several weeks, depending on what the buyer is asking for and what you’re willing to accommodate. For example, if they’re asking for a bunch of repairs or renovations, it can add weeks to the process.
Closing on the Sale
Finally, once you and the buyer agree to terms, you can begin the closing of the sale. This is where the bank begins its underwriting process to verify all the details of the sale, as well as the buyer’s financial credibility.
This process typically takes anywhere from four to six weeks. However, it can also take longer.
Additionally, if something is discovered during the process that disqualifies the buyer, the whole process will be null and void. You will be back at square one.
However, if you work with a professional home buyer, you can save time and money. They guarantee to close and it can be completed in as little as one or two weeks.
Want to Learn More About the Home Selling Process?
Clearly, the home selling process can vary greatly, depending on how you decide to move forward. If you want to sell your home as fast as possible, selling your house to a professional home buyer is your best bet. Otherwise, consider how you want to proceed with each step of the process.
And if you’re looking for more home selling tips or real estate advice, stick around. Browse through some of our other articles to find more excellent content. Our blog was created to provide our readers with the information they need to succeed.