Jenny Rollins, Author at Semya-Moya https://semya-moya.ru/authors/jenny-rollins/ Tue, 19 Dec 2023 09:44:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 https://semya-moya.ru/wp-content/uploads/2023/05/icon-96x96-1.png Jenny Rollins, Author at Semya-Moya https://semya-moya.ru/authors/jenny-rollins/ 32 32 Can I Legally Sell a Rental Property with Tenants? https://semya-moya.ru/real-estate-blog/can-i-legally-sell-a-rental-property-with-tenants/ Tue, 03 Oct 2023 16:20:10 +0000 https://semya-moya.ru/can-i-legally-sell-a-rental-property-with-tenants/ Many landlords have the same question, "Can I sell a rental property with tenants?" Yes. But there are a few extra steps you have to take.

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renting out condo

Should I sell a property with tenants? | How to sell a property with tenants

Selling a house with tenants is possible and legal. Most cash buyers and some real estate investors will buy properties with tenants. But you need to know and respect your tenants’ rights under state law and the terms of your lease.

How you go about selling a property with tenants depends on the local law, the lease terms, and the landlord-tenant relationship.

Should I sell a rental property with tenants?

Yes, you can sell your house with tenants in it. But that doesn’t necessarily mean that it’s the right option or the right time for you.

Selling a property with tenants is great for:

  • Landlords who want to cash in on their investments
  • Landlords whose property has low occupancy
  • Landlords who don’t want to be landlords anymore
  • Landlords who are moving and don’t want to manage their property long-distance
  • Landlords whose tenants are neat, cooperative, and okay with the sale
  • Landlords whose tenants want to buy
  • Landlords who don’t want to pay a mortgage for an unoccupied property
  • Landlords whose potential buyer wants tenants
  • Landlords who don’t want to stage a property

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Selling a property with tenants is not as good for:

  • Landlords who don’t want to coordinate showings around tenants
  • Landlords who want to stage their own property for showings
  • Landlords whose tenants want to stay until their lease expires
  • Landlords whose buyers  don’t want tenants or want to live there themselves
  • Landlords whose properties are rent-controlled
  • Landlords whose tenants aren’t current on rent
  • Landlords whose tenants are messy or unresponsive

How do I sell my house with tenants in it?

You can sell a house with tenants in six steps:

  1. Get an attorney
  2. Review local laws
  3. Review lease terms
  4. Consider the landlord-tenant relationship
  5. Give notice
  6. Find a cash buyer or real estate agent

1. Get an attorney

We can give you well-researched information, but only attorneys are qualified to give you formal legal advice. We recommend hiring a real estate attorney to help you, especially if you’re new to selling real estate.
» Get a pro in your corner: Find a local real estate attorney

2. Review local laws

Tenant rights vary by state, so you’ll want to check out your local property laws before selling your rental property.

For example, most states allow long-term tenants to live on the property for the length of the lease. All states require landlords to give tenants advance notice of the sale. That notice period varies from state to state. You can check your state’s timeline here.

3. Review lease terms

To legally sell a property that has tenants living in it, you need to look at the lease terms to make sure you’re honoring your tenants’ rights. Most landlords use two types of rental agreements: month-to-month and fixed-term.

Month-to-month leases

Month-to-month agreements are leases that go from month to month without any promise of long-term rental. You can usually terminate month-to-month leases with no cause. You just need to give renters advance notice that you’re going to sell (usually a minimum of 30 days before they need to vacate).

Fixed-term leases

A fixed-term lease is a long-term rental agreement for a specified period. These leases are not as flexible as month-to-month leases. But there are still ways to sell property with long-term tenants, like:

  • Checking for an early termination clause
  • Selling to a cash buyer
  • Selling to the tenant
  • Offering cash for keys
  • Waiting until the lease expires

Check for an early termination clause

Some leases include an early termination clause. This clause states that the landlord may end the lease in certain circumstances. The clause must appear in the original lease and be agreed upon by both parties.

Most early termination clauses say that a landlord can end the lease if the tenant violates it. Some examples of lease violations include:

  • Consistently late rent payment
  • Illegal activities
  • Noise
  • Property damage
  • Unsanitary conditions
  • Unauthorized guests
  • Unauthorized pets
  • Unauthorized renovations or decor

Sell to a cash buyer

Many cash buyers and investors will buy property as-is, even with tenants. Keep in mind that leases don’t end when you sell the property. The buyer has to be okay with taking over as landlord and honor the contract you made.

Sell to the tenant

If you want to sell the property you’re renting out, you can always offer it to the tenant. The tenant can either buy it with a traditional mortgage or you could set up a rent-to-own option.

>> Learn more: How do rent-to-own homes work?

If the tenant decides to buy the property, you might not have to pay for a realtor or pay a mortgage without a renter.

But there are some things to consider. For instance, you might not get as much for the property as you would on the open market. You will also have to handle negotiations and closing paperwork yourself, which might be difficult if you don’t have much experience.

Offer cash for keys

If the previous options don’t work, you can always pay a tenant to leave the property early, also known as “cash for keys.” Cash for keys is legal nationwide. The lessee doesn’t have to accept the offer, so you might have to negotiate.

Some local laws might require you to pay for some of these things, but if not, you can still offer to pay for:

  • Relocation costs (if applicable)
  • The difference between your rent and the rent at a new place for the remainder of the lease period (if applicable)
  • The security deposit for their new place

How much you pay depends on how badly you want the tenant to move out and end the lease.  Landlords usually pay between half a month’s rent and a full month’s rent, plus the security deposit.

Wait until the lease expires

The easiest way to sell property that has long-term tenants is to wait to sell until their lease expires. Then, once the tenants have moved out, you can easily sell the property.

4. Consider the landlord-tenant relationship

Before you decide to sell your property with tenants, you’ll want to think about the relationship you have with your tenant. Here are some questions to ask yourself:

  • How long does your tenant have left on their lease?
  • Are they willing to negotiate to leave earlier?
  • Are they willing to switch landlords?
  • Are they responsive? Will you be able to reach them to schedule showings?
  • Are they clean? Will the property be presentable for showings?
  • Are they willing to allow a cleaning service?
  • Have they violated the lease terms in any way in the past?
  • Are they up to date with their rent payments?

If your tenant is clean, happy, willing to negotiate, responsive, and up-to-date on rent, it will be much easier to sell your property. If your tenant is messy, negative, unresponsive, or behind on rent, it will be much harder to sell with them living there. In that case, you may want to wait out their lease in order to sell or sell to a cash buyer who will take on the role of landlord.

5. Give notice

In most states, landlords must give tenants 30–60 days of written notice before selling the property. Try to be compassionate and thoughtful in your notice. After all, you own the property, but the tenants made it their home.

You’ll want to include:

  • A rough timeline, including inspections and the first property showings
  • A timeline to get tenants up-to-date on their rent if they’ve fallen behind
  • Any details about the new landlord (if applicable)
  • Any offers or details for cleaning or groundskeeping services for showings
  • Any openings in nearby housing you have noticed

You also legally need to give them at least 24 hours' notice before a showing. Let them know not to be present during that time. State laws usually require you to schedule showings at convenient, reasonable times.

6. Find a cash buyer or a real estate agent

The easiest way to sell a property with tenants is to use a cash buyer or investor who will buy the property as is. You also won’t need to worry about home inspections, repairs, or buyer financing.

Cash buyers are also a great option if you need to sell property fast. Selling to a cash buyer usually takes 2–3 weeks. Selling on the traditional market generally takes several months. 

But investors do usually pay less than fair market value. So if you don’t mind waiting out a lease and making the necessary repairs, you might make more by selling on the traditional market.

Platforms like Clever Offers can connect you to local, regional, and national cash buyers. Clever’s network will maximize your chances of getting competitive offers. 

» LEARN: Why Clever Offers is a legit home sale option 

Or you can find a real estate agent with experience selling property with tenants.

Semya-Moya will match you with top local agents willing to work for a discount. It’s totally free with no obligation.

Related links

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Selling a House Checklist: 12 Steps for a Successful Sale https://semya-moya.ru/real-estate-blog/selling-house-checklist/ Tue, 23 May 2023 19:34:34 +0000 https://semya-moya.ru/selling-house-checklist/ Getting ready to sell a house? This checklist for selling a house will walk you through every stage of the selling journey.

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Getting ready to sell a house | Marketing your home | Closing on your home sale

Selling a House Checklist

Selling a home is a massive undertaking with lots of steps and moving parts.

To help you stay organized, we’ve put together a home seller checklist. Our guide will help get you from finding an agent all the way to closing.

>MORE: How Do I Sell My House? Everything You Need to Know

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Getting ready to sell a house

Find a good listing agent

Unless you’re selling your home yourself, your home selling journey will begin with finding a listing agent. A listing agent is a licensed real estate professional who represents you in your home sale. Your agent will help you set the right price, market your home, and navigate negotiations and contracts.

We recommend finding an agent through a free matching service, like Semya-Moya. Clever matches you with top local agents from well-known brokerages like Berkshire Hathaway and Keller Williams.

Clever also pre-negotiates a 1.5% listing fee, potentially saving you thousands on commissions. On average, sellers who list with Clever save $9,600 on closing costs.

» MORE: Semya-Moya can help you save up to 50% on commission (learn how)

Add a real estate lawyer to your team

Some states legally require sellers to hire a real estate lawyer. But even if it’s not required, you might want to add one to your team. A real estate lawyer can help you navigate the legal side of house selling, like contracts.

You'll definitely need a realtor if you're dealing with foreclosure, divorce, boundary disputes, or title liens. A real estate lawyer typically costs $150–$350 per hour — around $800–$5,000 for the entire home sale.

Get a pre-listing appraisal

Your buyer will probably order an appraisal during the buying process, especially if they’re financing with a mortgage. But you should consider getting an appraisal before even listing. Why?

A pre-listing appraisal can help you set a good listing price. An accurate listing price makes it less likely that the buyer will lower their offer after their own appraisal. If their appraisal comes back lower than the selling price, then you can get into long renegotiations and potentially miss out on money.

Budget for closing costs

Home sellers pay 6–9% of the home sale in closing costs (even less with a low-commission agent). You might be able to negotiate some of these costs with the buyer, especially if there’s fierce competition over your home, but you’ll have to pay most of them.

Type of Closing CostAmount
Title search$300 (national average)
Conveyance fee0.05–2.2% of sale price
Recording fees$118 (national average)
Courier fee$50–75
Prorated property taxesVaries by area
HOA fees$200–300
Show more

Minor repairs

Most buyers don't want to buy homes that need lots of work. Before listing your home, fix any small, necessary issues. Here are some things you might want to do before listing your home:

  • Fix any broken internal systems like the HVAC or plumbing.
  • Paint any bright walls a neutral color.
  • Replace broken blinds and shutters.
  • Tightening door knobs and hardware.
  • Deep cleaning the carpets.

>MORE: 18 Easy Ways to Get Your House Ready to Sell

🏡 Which home improvements have the highest resale value? Installing wooden floors, replacing both your garage and front doors, re-siding your house, and finishing minor kitchen and bathroom renovations have high resale value. Choose home improvement projects carefully. Not all of them will have a good return on investment.
Show more

Stage the interior

Staging is the delicate art of rearranging and redecorating your home to bring out its most impressive features. On average, professionally staged homes sell for 17% more than non-staged ones. And 95% of staged homes sold within 11 days.

If you’re working with an agent, you already have an expert to help make your space come to life. Many agents know which staging techniques work best for your area. They might even use software for virtual staging, too.

>MORE: Steps to Sell Your House: Everything You Need to Know

Marketing your home

List your home for sale

It's important to get your home's listing price just right. Price it too high, and you’ll turn off too many buyers. Price it too low, and you might end up leaving money on the table.

This is where having a good real estate agent is crucial. Your agent will do a comparative market analysis (CMA) to figure out a good competitive price. A CMA involves finding homes like yours that have recently sold in your area. An agent with a deep, local knowledge of your market will be able to get you an accurate CMA.

Prepare your home for showings (and keep it clean!)

Once you list your home, your agent will start scheduling showings and walkthroughs for potential buyers.

Some buyers will schedule walkthroughs a few days in advance. And others might show up and still expect to see your home at its best. That means you’ll have to keep your home exceptionally clean, even when you’re not expecting anyone.

It can be exhausting and might feel as if you’re always preparing for a guest that never comes, but it can pay off. Here’s a list of some daily tasks you should do to keep your house showing ready:

  • Take out the trash.
  • Clean the bathrooms and the kitchen.
  • Sweep the floors.
  • Vacuum the carpet and rugs.
  • Clean up any litter boxes and pick up any dog poop.
  • Put away any clutter or personal items.
  • Put away any valuables in a safe place.
  • Make the beds.

💻 Consider adding a virtual 3-D tour. Your agent may offer a 360-degree tour of your home, as an add-on to their marketing package. These tours typically cost around $200. And they can be well worth the money, because they differentiate your listing from similar homes.
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Closing on your home sale

Look into buyer contingencies

A buyer contingency is a clause in your contract that lets buyers walk away from a deal if conditions aren’t met. For example, a mortgage contingency lets a buyer back out of a purchase agreement if the lender doesn't approve their mortgage application.

You don't technically have to agree to buyer contingencies. Many sellers do as an act of good faith. But if you're in a competitive market and trying to close quickly, it might be in your best interest to leave contingencies out. Talk it over with your agent before agreeing to anything.

Get ready for the final walkthrough

The buyer will usually walk through the home one last time before they sign the final contract. During this final walk-through, buyers will make sure you completed any pre-negotiated repairs. They'll also check that you left furniture and appliances that you agreed to leave behind.

Request a final reading of your utility meters

Utility companies can hold a lien on your home for unpaid bills. So, you’ll need to show a buyer and their attorney that you’ve paid off your utilities, closed all accounts, and taken your name off services. You can bring a final statement from your utility companies to verify this.

Take the buyer to closing

Closing day takes only a few hours, but you’ll need to bring some essential paperwork to the table.

  • A valid form of ID (like a driver's license)
  • The purchase agreement
  • The deed to your home
  • The final utility bill

The utility bill will prove that you’ve paid the utilities and closed your account.

>MORE: 12 Key Documents Required to Sell a Property

FAQ

What should I to do my house before selling?

Before you sell your house, work on essential repairs that will probably come up during a home inspection, like the HVAC. You should also clean and stage your home to make a good impression on buyers. Professionally staged homes typically sell for more than unstaged ones. Prepare for your sale with this home seller checklist.

What should I remove from my home when selling?

When you're selling a home, it's a good idea to remove any visible personal items, like family photos, laundry, toiletries, and clutter. This allows potential buyers to better envision themselves living in your space.

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What Not to Fix When Selling a House: 7 Projects to Avoid https://semya-moya.ru/real-estate-blog/what-not-to-fix-when-selling-a-house/ Thu, 23 Mar 2023 20:03:03 +0000 https://semya-moya.ru/what-not-to-fix-when-selling-a-house/ Don’t break the bank making costly home repairs with an unlikely financial return. Review the repairs you should skip when prepping your house for sale.

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An illustration of three contractors fixing various things around a house.

Minor plumbing and wiring issues | Paint | Windows | Outdated styles | Unfinished projects | Superficial stains and cracks | Appliances

In 2022, 71% of homeowners reported finishing at least one improvement project before selling their homes. Even though home repairs are a popular way to add value to a home, they are not all created equal. Many repairs cost more than the value they add to your home.

Before you make any costly repairs, you need to know what not to fix when selling a house. We'll help you avoid making expensive repairs that won't add much value (or even cost you) when you sell.

You can work with your realtor to determine which projects you should prioritize and what you can skip. The new owner may redo your aesthetic projects anyway, making your efforts a waste of time and money.

🔎Find the perfect agent to sell your house

Clever matches you with top local agents. Compare great options, choose the best fit. Free with no obligation.

What not to fix when selling a house

Minor issues with plumbing or wiring

Unless you plan to sell your house "as is," you should fix major issues in plumbing and electrical wiring. You can leave minor flaws alone. Don’t worry about repairing that leaky faucet or a faulty light switch.

When in doubt, you can consult with a professional to assess the situation. They can tell you the major and minor issues and help you decide what’s worth tackling.

Paint

Painting isn’t always necessary. Look at your walls. If the paint is a particularly bright color, you might want to paint with a neutral color. If not, you’re probably fine to leave it as it is.

Chances are good the new owners will repaint the walls a color they like anyway. So, if your home’s interior is crying out for a paint job, consider offering a seller concession. A concession is essentially a discount on the house to help pay for repairs. That way the buyer can choose their own paint colors when they buy the house.

Windows

Don’t spend thousands of dollars to install new windows if you're planning to sell. New windows can make your home look more appealing, but homeowners typically only recover 63–67% of the cost to replace windows.

Windows are also rarely the deciding factor when buyers are looking at a home. Instead, make sure the windows are clean, functioning, and free of cracks.

Outdated styles

Out-of-style flooring, hardware, and house fixtures may scream "dated" to you. But replacing them with the latest trend could cost you a lot and still not be what the buyer wants. It’s better to save your money and have a clean slate for the buyer.

Let the buyer choose the patterns, styles, colors, and décor once the house is theirs. Instead, concentrate on scrubbing, polishing, and keeping those existing features clean for showings.

Unfinished remodeling projects

Now is not the time to tackle a renovation project you never got to. If you’ve put it off this long, you’re probably not going to finish before you list the home. Besides, buyers can picture redesigning a room that needs work, but they might not want to finish a project someone else began. So, skip that DIY room addition or bathroom remodel.

Superficial cracks or stains

Minor cracks, floor scuffs, and carpet stains are typical. There’s no need to fix every minor mark, but be careful of mistaking a major issue for everyday wear and tear. For example, don’t assume a huge crack in the basement wall or a large carpet stain is minor. They may be a sign of foundation issues.

An experienced, knowledgeable realtor can help. Ask your agent whether to bring in an expert to assess any potential problems.

🏡 Talk to a top local agent in your area.Clever’s free agent matching service has helped thousands of homeowners find the perfect real estate agent to sell their homes.
No cost. No pressure. Just good, helpful advice.
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Appliances

If your appliances work, don’t replace them. Change out any broken appliances, but don’t go overboard. There’s no need to buy a high-dollar appliance that won’t add any value to the home. In fact, you may be better off purchasing a used appliance.

» MORE How to sell a home in poor condition

What to fix up when selling a house

When selling your home, the goal is to present a welcoming, livable space with no major problems or issues. Normal wear and tear are acceptable and expected. Also, the buyer should be able to personalize the home with their own colors, designs, and style. So, neutral choices are preferable when determining what to fix or update.

Data from the National Association of REALTORS® shows that sellers get the best return-on-investment by installing wood flooring, upgrading insulation, and putting in a new roof and garage doors. When in doubt, discuss the issue with your realtor to determine the most strategic move. An experienced agent can help you assess how buyers might feel about a proposed repair.

FAQ

What renovations are worth doing before selling?

Wood flooring, new roofing and garage doors, and upgraded insulation are the renovations worth doing before selling, according to data from the National Association of REALTORS®. We recommend consulting a real estate agent to decide the best options for you. Learn more about what not to fix when selling a house.

Is it worth replacing flooring before selling a house?

Yes, if you pick the right material, it's worth it to replace old floors before you sell a house. Adding new hardwood flooring or refinishing an existing wood floor is a solid investment, with a 118–147% return in home value. But something cheaper like new carpet or linoleum won't be worth it.

Is it better to sell a house as is or fix it up?

If you want to get the most money out of your home when you sell, then it's best to fix major issues. Even in a hot seller's market, selling a home as is will earn a lower price. If buyers have the market advantage, they may not consider fixer-uppers at all.

Related Articles

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8 Steps to Selling a House in Utah https://semya-moya.ru/real-estate-blog/8-steps-to-selling-a-house-in-utah/ Thu, 05 Jan 2023 03:44:09 +0000 https://semya-moya.ru/8-steps-to-selling-a-house-in-utah/ Selling your house in Utah? Our in-depth guide breaks down the process into 8 easy-to-understand steps, from listing through closing.

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Getting ready to sell your house in Utah? Our in-depth guide breaks the entire process down into 8 simple steps. Learn how to find a great agent, price your home, negotiate with buyers, breeze through closing, and more!

Here’s everything you need to know about the home selling process in Utah, from finding a realtor to seller’s disclosures, broken down in an eight step process.

What's Clever? We're a free resource dedicated to helping you make smart decisions, sell fast, and save money — check us out and read our reviews here.

Now is a good time to be selling a house in Utah! According to Zillow Research, property values in the Beehive State rose 4.85% in 2019, and are projected to rise a further 3.76% over the next year.

Of course, even the best Utah properties will struggle to sell if you don’t price the home properly, do a poor job of marketing it, or don’t know how to handle the negotiations.

Read on to learn the eight steps to successfully selling your home in Utah!

» MORE: Get a free, instant home value estimate now!

JUMP TO SECTION

1. Finding a Utah realtor

Selling a home isn’t easy. It’s a high-stakes, complex transaction and requires a considerable amount of time and expertise to get a good outcome. If you’re looking to sell your Utah home for the best price — and minimize stress along the way — you need to find a top-rated real estate agent in your area.

The best Utah listing agents know exactly what local buyers want and how to reach them. They’ll offer expert advice, guidance, and support every step of the way, from the initial listing all the way through closing.

In fact, sellers who work with real estate agents net 33% more, on average, than those who list on their own. For a $342,975 home — the median home value in Utah, according to Zillow — that’s a premium of $113,182. In other words, hiring an agent is well worth the investment.

Editor's Note: In a standard real estate transaction, realtor commission fees can represent up to 50% (or more) of your total home selling costs. Luckily, they're also negotiable. Here's how we can help you work with a top agent and lock in a lower rate up front.

2. Deciding when to sell

Nationwide, the best time to sell is the first half of May, as you could get a $1,600 price premium on your home’s selling price. It’s also the best time to sell a house in Utah because you can count on decent weather for showings.

But remember that larger economic factors such as unemployment will impact your home’s value, but you should also look at local trends when deciding when to list.

When the Federal Reserve raises its borrowing rate, it impacts mortgage rates. The higher the interest rate, the fewer buyers will want to lock themselves into a payment at that rate. Keep an eye on interest rates if you’re trying to decide when to sell your home.

Best time to sell a house across the U.S.

Best Time to Sell a House

Source: 2019 Redfin Data Center

Can't wait on the market? You don't have to — sell when you're ready. Learn how to sell fast (and for full value) whenever the timing’s right for you.

Best time to sell a house in Utah

Best Month to Sell for Speed in Utah May 18 days on market 12 days faster than average
Best Month to Sell for Price in Utah June $329,000 median sale price 4% faster than average

Unemployment in Utah is around 3.0%. A growing population and more jobs increase demand for housing and drive up home values. Utah topped the nation in job growth several months in 2018 and has continued to add jobs into 2019.

Families prefer to move before school starts rather than force their kids to move during the school year, so spring and summer are hot buying seasons. Bad weather and lower inventory on the market causes the market to slow in the late fall and winter.

Learn More: The Best Time to Sell a Home in Utah

3. Pricing your home

Pricing your home to compete with other local properties is crucial for a fast sale. If your property takes too long to sell, potential buyers might worry that it has hidden issues. You want to avoid a situation where you have to lower your price to sell.

Picking a competitive price for your home increases your odds that interested buyers will want to schedule a showing. If your price is widely outside the range of the prices on comparable properties, buyers might not even tour your home. When you work with a Clever Partner Agent they’ll prepare a free comparative market analysis to help you pick the best price.

A Comparative Market Analysis takes all the data from recent real estate transactions in your neighborhood and summarizes and analyzes it to identify trends. It looks at recent sales, including foreclosures, but also includes information on how quickly those homes sold and if the sellers had to lower their asking price.

But if you're earlier in the process and just want a general idea of what your house is worth, a free online home value estimator is a great place to start. Enter your address below to see your estimated sale price, as well as useful local real estate market trends. Find out how much your house is worth now!

💰 How much is your home worth?

Discover the true value of your home with our Home Value Estimator!

Find My Home's Value

4. Preparing, marketing, and showing your home

Build at least two months into your schedule for repairs and preparing your house to go on the market. After an initial visit, your agent will suggest repairs and improvements to make prior to listing. While they’ll address quick fixes, such as touching up the front door’s trim, they’ll also suggest more costly repairs that would help your home sell faster and for maximum value.

After your home is ready to list, your agent must market it properly. They could suggest that you hire a staging company, and they should have a professional photographer take pictures for the listing.

The listing description should be written to emphasize items that appeal to your target buyer, whether it’s the local school system or the neighborhood’s walkability. In Utah’s climate, buyers are concerned about drainage and dry rot, so make sure you’ve addressed any of these problems.

Technology has gained importance when selling homes and can matter more than word-of-mouth. Ask potential realtors how they market online and what tools they use. MLS and social media, listing portals and realtor websites, what do they do to increase your home’s visibility to target buyers?

There are basic rules once you reach the stage of open houses and showings. Keep your home clean at all times. Check that the key in the lockbox works. Above all else, listen to feedback after showings and make adjustments.

Learn More: The Best Paint Colors For Selling A House

5. Fielding offers and negotiations

Once an interested party is ready to make an offer, their agent will likely talk to your agent to see if you’d be receptive to the price they want to offer. If your realtor thinks it’s an acceptable price, the buyer’s agent will prepare the paperwork and send over the earnest money check.

The dollar amount is an offer’s starting point. Buyers often specify which appliances are to be left with the house or ask for a certain move-in date. Negotiations may take a while, and while you’ll hopefully reach an agreement there could be a deal-breaker that stops the potential sale.

If everything is agreed upon and nailed down, the buyer’s agent will write it up in a formal purchase agreement.

Learn More: Real Estate Counter Offer Etiquette

What's in a real estate purchase agreement?

6. Appraisal and inspections

Unless you live in an incredibly hot seller’s market and a buyer is willing to take their chances, the offer will likely have an inspection contingency. Buyers pay for independent home inspectors to examine your property for any current or future problems. Depending on what they find, they can either cancel or revise the offer after the inspection.

In Utah, inspectors often find homes that have old Polybutylene pipes, which have low bursting pressure and deteriorate faster than copper. They’ll recommend replacing them. Ductwork and leaking air is another concern, given the extremely hot summers in some parts of Utah.

The buyer will have time after the home inspection to review its results and come back with requests. They may ask for you to fix some issues before the closing, they may want cash back at closing to pay for a major repair, or they could request that you lower your price. It helps to prepare for a home inspection and know what the inspector will look for, but it’s extremely common for there to be negotiations after a home inspection.

Learn More: Can the Seller Back Out of Contract Before Closing?

7. Paperwork and required Utah disclosures

Seller disclosures are forms that you complete that tell a buyer about any known issues and problems in your house.

The only disclosure required by law in Utah is if your home has been used to store or manufacture methamphetamines. Sellers still often chose to, and should, disclose more information to protect themselves. Any known issues with a major system; electrical, heating, plumbing, should be disclosed. Also consider telling the buyer apart major repairs, outstanding liens against the property, or any current or past pest infestations.

You’re required by law throughout the United States to include information on potential lead-based paint in your home. If you haven’t had lead abated, or don’t know if your home contains lead-based paint, the buyer can request that your house be tested. If you’ve had the testing done or the paint remediated in the past, just include the certificate in your documents.

If you have any questions when filling out your seller’s disclosure or gathering any other legal documents, talk to your realtor or attorney. It is not a good idea to lie on your seller’s disclosure. If your buyer finds a problem that you concealed, either shortly after moving in or years later, it can lead to lawsuits.

Forms and Documents for Selling a House in Utah

Required for All Real Estate Sales in Utah

  • 2 Forms of ID
  • Copy of Purchase Agreement and Any Addendums
  • Closing Statement
  • Signed Deed
  • Bill of Sale
  • Affidavit of Title

Possible Additional Documents

  • Loan Payoff Information
  • HOA Forms and Guidelines
  • Survey Results or Survey Affidavits
  • Home Inspection Results
  • Proof of Repairs or Renovations
  • Home Warranty Information
  • Copies of Relevant Wills, Trusts, or Power of Attorney Letters
  • Relevant Affidavits (Name Affidavits, Non-Foreign Affidavit Under IRC 1445, etc.)
  • Closing Disclosure (for certain seller concessions)
  • Correction Statement and Agreement

Utah Disclosure Forms

  • Seller’s Property Condition Disclosure
  • Flood Zone Statement
  • Lead-Based Paint Disclosure
  • Buyer Due Diligence Checklist

Learn More: Disclosure Requirements in Utah

8. The closing process

Closing dates depend on the title company’s availability, whether or not you’re pre-approved for a mortgage, and if any problems are found with the title. Expect to have a closing season further out if you’re closing during the spring and summer.

A day or two before you close the buyer will walk through the home and confirm that you’ve made any repairs agreed upon after the inspection. In Utah, the seller pays for the policy of title insurance.

There is a lot of paperwork and administrative details to track you close on a house. If something isn’t signed or initialed properly, or you miss a deadline, the whole process can stall. It’s part of your realtor’s job to monitor all the moving pieces and keep your home sale on track.

Learn More: How Much Are Closing Costs for the Seller?

Next steps: Sell your Utah home and save thousands

Whether you’re looking to list your Utah home immediately or 6-12 months from now, it’s never too early to start looking for an agent, getting advice, and making a plan.

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Top ways to sell your home in Utah

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