Selling a House in California: The Complete Guide
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If it’s lowering the price of your home or holding more tours and open houses, you’ll want to discuss this with your agent and agree on the next steps in case your house isn’t seeing any offers. Every seller in the state of California has a legal obligation to share a lot of information with buyers. This includes intel about the condition of the property, the potential for additional taxes and the natural hazards that could impact it. You will need to complete a lengthy transfer disclosure statement that informs the buyer about a broad range of questions. Now that you’ve hired the best real estate agent for the job, it’s showtime. Stop thinking about the house as yours and start treating it like a product on display for the world to see.
Decide how to price your home.
San Francisco – Listing your home between April 16th through the 30th can result in up to a $15,000 higher closing price with an average selling timeframe of 6 days faster. This guide will walk you through the ins and outs of selling a house in California, making sure you don’t get hit with any major surprises along the way. From working with a listing agent to legally required disclosures, we’ve got you covered. Perhaps the kids have moved out and it’s time to downsize, or maybe you’ve outgrown your first starter home and are looking to expand to accommodate your growing family. No matter the reason, selling a house in California can be a complicated process with a number of legal and other considerations to contend with. The Golden State may be known for a laid-back lifestyle, but selling a home here doesn’t have to feel like waiting for the perfect wave.
What Is Mortgage Insurance and When Do You Need It?
Whether it’s the location — such as moving closer to family, outside of the city or for a new job — or the home features, every item on your list of must-haves will make finding your next home a greater challenge. If anything gets delivered to your house once the new owners are moved in, you may never get it back. It’s recommended to change your address at least two weeks before moving day. Ideally, your utilities are never shut off — as can happen when you don’t pay the bill — the accounts are rather transferred to the new owner. Once you turn off your utilities, turning them back can take hours minimum for some companies. A technician may need to come to your home to physically get things back up and running.
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Mortgage
In moderate and more temperate climates (such as Southern California), weather plays a lesser role in the timing necessary when selling a house. However, Northern California has very clearly defined seasons, making the weather a significant factor in those areas. If you opt for a traditional, agent-assisted sale, be sure to think about these questions as you get started.
So, before we run any numbers, we’ll actually ask you 7 simple questions to understand your home type and what makes your property unique. We then combine your answers with data from multiple trusted sources to come up with a real-world valuation. Using this method, we can predict your home’s current value with far greater accuracy.
For example, geography might influence how long your house lingers on the market or how high of a list price you can get away with. In locations where competition is hot and inventory is low, odds are you’ll sell faster and command a higher price. Conversely, in places where home sales have cooled, you will likely have to work harder to attract the right buyer. The offers that appear on this site are from companies that compensate us.
Though this list is not entirely comprehensive, here’s a breakdown of common fees encountered in a home sale — and who typically pays for what. A great agent will step in and help you get the job done no matter the work involved. If you don’t have enough free space in storage areas of the home, you could always rent out a climate controlled unit for some extra breathing room in staging the home. Now would also be a good time to line up a dumpster rental if you have lots of old furniture or accumulated junk to toss.
No matter where you live or what kind of shape your home is in, this guide on how to sell a house will help you navigate the entire process. Head over to Redfin's First-Time Homebuyer Center and learn the ins and outs of homebuying today. Learn how to buy and sell a home with articles, videos, and tips from local Redfin Agents.
Close the sale and move out
That’s why these tools are considered to be a good starting point, though not the end-all-be-all for pricing your home. The good news is that you may not owe the IRS taxes on your profits from the sale. It depends on whether it was your primary residence, how long you lived there and how much you make on the sale.
Single-family homes are in high demand, so selling now means you’ll sell faster and for a higher price than you would under other conditions. Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money. Plus, these improvements may not be necessary to sell your home for top dollar, particularly if inventory levels are low in your area (which they are in most areas these days). A good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.
Looking at comparables, often called comps, of recently sold homes in your area will also help you settle on a price. These homes should be similar in size, location, and sold within the last few months. Instead of lumping the price of your house in with other comps in the area, strategize your pricing based on your home’s selling features.
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