Selling a house is a lengthy process that involves a lot of work and many steps. The good news is that you’ve already completed the first step–deciding to sell the home! But there’s still a lot of work to be done before you hand over the keys to the new owner.

Selling House: Price and Stage Your Home

Setting a realistic price is an important step in selling your home. It sets the tone early—buyers are most interested in the new houses on the market, especially if they’re priced attractively. You may wish to get your home inspected before you put it on the market, or get help from a real-estate agent when setting a price.

Before you put your house on the market, you should consider “staging” it. This means that you need to turn your house into a model home and make it as attractive to buyers as possible. Thoroughly clean and “de-clutter,” then get rid of extra furniture and, if necessary, paint the walls in a neutral color.

Selling House: The Marketing Period

During the marketing period, your house gets exposure to potential buyers. This usually happens through a variety of venues, including:

• Classified ads in newspapers and magazines
• Marketing through your real-estate agent
• Neighborhood signs
• Open houses
• Online listings.

During this time, you’ll be showing your house to potential buyers, both at scheduled open houses and during private appointments during the week. Eventually, you’ll—hopefully—receive an offer on your house.

Selling House: Offers and Negotiations

When a buyer puts an offer on your house, evaluate the offer (your real estate agent or attorney should help you) and decide whether to accept it or propose a counteroffer. Negotiations for selling and buying a home typically last one to two days. Your decision to accept or reject the offer depends on many factors, including:

• Contingencies in the contract
• Size of the down payment
• Time frame and suggested closing date.

Selling House: Purchase and Sale Agreement and Closing

After you accept an offer, the buyer typically has up to two weeks to complete a home inspection. If all goes well, your attorney or real estate agent will draft a purchase and sale agreement that outlines the conditions of the sale. Both you and the buyer sign this.

Closing occurs 45-60 days after the initial offer. During closing, the seller transfers the title to the buyer, escrow money is distributed, buyer and seller complete the rest of the paperwork and the buyer receives the keys to the house.