Selling Process
Here are the steps for selling a home:
1) “Hiring” a Listing Agent
- In selecting an Agent think of them as a paid Professional working for YOU.
- A listing agent will be representing your needs and wants and should be communicating your best interests.
- Hold interviews with different agents from multiple agencies.
- Discuss their listing agreements and negotiate your terms.
2) Prepare your home for selling.
- Clean, de-clutter, wash, and prepare your home for maximum curb appeal.
- Ask your real estate agent for staging advice for targeted market.
- Finish Repairs and remodeling projects before listing.
- Remove all personal items. i.e. checkbooks, photo’s, heirloom items.
- Design a plan to show your home. Pets away, reschedule meal times and etc.
3) Calculate Home Value
- Finding the right price for you home and market.
- Have your real estate agent do a comparative Sold analysis.
- Understanding how robust your market is performing.
4) Marketing your home.
- What are the key features of your home and WOW factor.
- Discuss marketing strategy with Realtor. How can you help to market your home.
- Try to provide photos and videos for home buyers.
- Review marketing strategies throughout selling process.
- Use the power of the internet to list and advertise your home.
5) Showing your home
- Use a lockbox for ease of access with realtors.
- Plan for seasonal changes and how to better list during the different seasons.
- Remember – First impression is the ONLY impression.
- Schedule an open house.
- Ask for feedback from realtors and potential buyers.
6) Receive Purchase Offers
- Understand the Purchase offer agreements
- When you receive an offer, negotiate if offer is not what you desire.
- Always have a contingency plan, or kick out clause in every agreement.
- Never ignore and offer, counter offer.
7) Escrow / Title search
- Keep apprised of selling process.
- Maintain contact with all parties involved.
- Be realistic in selling timeline.
- Ask for a receipt for the buyer’s earnest money deposit.
Schedule Appraisal
- Prepare your home for the Appraisal. Research what appraisals are looking for.
- If your appraisal is lower than expected, ask your realtor for different options.
- Remember the seller is ordering the appraisal and they will receive all of the documents.
- If the appraisal is the cause of the seller backing out, ask realtor about your rights.
9) Cooperate with Home Inspection
- Prepare for a lengthy home inspection (2-5 hours)
- Ask your agent to provide you with a home inspection checklist so you will know which items an inspector will want to see.
- Prepare all areas of your property for inspection – Attic, basement, garages and etc.
- Arrange and schedule for a final walk through.
10) Required Inspections
- If your contract calls for a roof inspection, hire a reputable company to conduct the inspection.
- Some states will require a termite/pest inspection.
- All inspections costs are negotiable.
- Some homes will be required to have a sewer inspection if before 1950.
11) Seller Disclosures
- Every home must provide a lead-base paint disclosure.
- To not be held liable disclose all know problems.
- Your title company should provide CC&Rs, but if you belong to a homeowner association, additional documentation will be required.
12) Contingencies
- If you do not request a release, buyers are not obligated to provide it.
- If you do not receive a release, you may be able to cancel the contract.
13) Close Escrow
- Your property deed, reconveyance and deed of trust will record in the public records.
- Title will notify you and your agent when it records.
- Prepare for moving day.
