Are you preparing to sell your house? You might wonder how long the process takes. This depends on several factors, including location, market trends, your home’s condition, the time of year you list your home, and how you choose to sell.

Recent data from the Central Ohio Housing Report shows that homes spent an average of just 18 days on the market in September 2022. Even though this is up from 14 days in September 2021, it is still far below the national average of 50 days on the market. To clarify, this metric tracks the time between when a house is listed to when it goes under contract. But you must also consider the time spent preparing the house for the market and the time to close.

Preparing a House to Sell

Between when you decide to move and when your listing goes live, you must complete the following steps:

  • Make repairs or complete renovations (optional)
  • Hire a real estate agent
  • Clean up the house and remove personal belongings
  • Stage the house for showings
  • Take photos, write a list description, and set up a 3D tour

This process could take a few months if you need to repair or renovate the house. Otherwise, you could have it ready to list within two to five days.

Waiting for an Offer

Once your house is listed, you’re at the mercy of the market. Fortunately, Columbus is one of the healthiest housing markets in the country, still reeling in benefits despite a shifting market and rising interest rates. However, things will likely cool down this fall, so sellers must have more patience. Inventory is also on the rise, giving buyers a larger selection and a bit more negotiating power.

Closing on a House

Closing on a cash offer can take as little as a week, while mortgage transactions can take a couple of months. Here’s why closing can take so long:

  • You accept an offer and sign a purchase agreement (1 to 3 days)
  • Money is placed in escrow until both parties meet certain contractual conditions (about 30 days, occurring simultaneously with other steps)
  • A home inspector completes their report (5 to 15 days)
  • An appraiser visits the property and submits details to the buyer’s lender (7 to 14 days)
  • The lender completes the underwriting process (30 to 60 days)
  • You and the buyer amend negotiations based on the home inspection and appraisal (1 to 2 days)
  • A final walkthrough takes place (less than 1 day)
  • You sign the paperwork and hand over the keys (less than 1 day)

At Vutech | Ruff, Corcoran Global Living, we aim to make every real estate transaction as fast and simple as possible. Our award-winning agents have years of experience providing outstanding real estate services throughout the Greater Columbus area. Let us help you prepare to sell your home, negotiate offers, and navigate the closing process. To speak with a knowledgeable Ohio real estate agent about selling your home, please call 614-897-0618 or contact us online today.