How Long Does It Take To Sell A House?

Are you planning to sell your house?

Do you want to know how long the process takes and what steps are involved? Selling a house is a big decision that involves a lot of time and effort. While the average time a house sits on the market is 22 days, it doesn’t factor in the time it takes to prepare the home for sale and everything that needs to be done after the offer is accepted. In this article, we will walk you through the typical house selling timeline and how long each step usually takes.

By the end of this article, you will have a clear understanding of what it takes to sell a house and how long the process takes. You will also know the importance of hiring a real estate agent, preparing your home for sale, and negotiating with potential buyers.

Let’s dive in!

Hire a real estate agent

If you’d rather not spend the time and effort selling the home yourself, a real estate agent can help you through every step of the home sale. The first thing you should do is contact a trusted Realtor who can give you a clear picture of what's happening in the local market and provide a market analysis of the home. They can also discuss pricing strategies and explain the sale process from start to finish.

It’s important to compare and interview agents in your area. You want an agent who will honestly communicate with you about the market value of your home, the process of selling, and what to expect. You want someone who will tell you the good, the bad, and the ugly no matter what happens.

Prepare the house for sale

Unless you decide to sell your house as is, you need to prepare your house to be listed on the market and to be shown to potential buyers. The length of time it takes to prepare the home will depend on how much maintenance and work you have already put into the property.

According to a Coldwell Banker survey, 80% of Americans say they prefer to buy a move-in-ready home over one that requires any updating. Putting in the extra effort to prepare your home makes it more marketable. Not only can you ask for a higher price, but it could also mean a faster sale.

List and show the property

Once everything is prepped, it’s time to price your home and list it on the market. After your home is listed, your real estate agent can schedule showings and greet potential buyers when they visit the property.

Although the average home sits on the market for about 22 days, it could take more time or less before you accept an offer. The days on the market can also depend on when you list your home. Research shows that November, December, January, and February are the slowest months throughout the year and may even be less profitable.

Accept an offer

After an offer is received, the response time may depend on the contract. Some contracts set offer time limits – 24, 48, or 72 hours – to dictate how long each party has to respond. Once it expires, the contract is void, and a new offer must be submitted.

If there’s no contractual time limit, most agents, buyers, and sellers follow common courtesy to respond within a few days after receiving an offer or counteroffer.

Appraisal and inspection

After accepting an offer, the buyer’s mortgage lender may require an appraisal of the property to determine the fair market value. How long the appraisal process takes depends on the complexity of the appraisal as well as the appraiser’s schedule and workload. This can take anywhere from a few days to a few weeks.

An inspection may also be required before closing and usually takes place within seven to 10 days after an offer is accepted. This typically takes a few hours and it's also worth noting that the closing process can be delayed if there are any issues with the title search or if there are any liens on the property. These issues will need to be resolved before the closing can take place.

Selling a house can be a lengthy process that involves several steps

While the average time a house sits on the market is around 22 days, this doesn't account for the time it takes to prepare the house for sale and complete all the necessary steps after accepting an offer. From hiring a real estate agent to closing, there are several factors that can impact how long it takes to sell a house. However, by following the typical timeline and working with an experienced real estate agent, homeowners can help ensure a smooth and successful sale of their property.

If you're considering selling your home and have questions about the process or would like assistance from a qualified real estate professional, don't hesitate to reach out to us today.