The Process of Selling
As you prepare to sell your home, we appreciate the opportunity to assist you in one of life's most important events. My exclusive Full Service Marketing System represents my ongoing reliability and service, and my commitment is to meet and exceed your expectations. I will raise the bar! Below are some of the key components of the home selling process.
You're ready to sell your home!
Your first step is to contact me to assist you in selling what is most people's greatest investment. This is great time to gather your paperwork that you will need to expedite the closing once you have an acceptable offer. You can find this information in the Seller's Homework article.
What should I list my home for?
There are many factors that affect the list price of a home: location, condition, amenities, supply and demand, and local and global market conditions. I will provide you with a thorough market analysis of your home guide you with a realistic, competitive pricing strategy for your home.
Time to make your homes presence be known!
Once a listing price is established for you home, the process of marketing begins. First, I will take beautiful photos of your home to use in all marketing. Your home will be listed into the MLS system that feeds into multiple real estate websites such as realtor.com, zillow.com, trulia.com and others. Not only will your home have a heavy Internet presence, high quality brochures, with a QR code that links to your online listing, will be placed outside your home as well as in the hands of all the local real estate offices which will stir greater awareness of your property. That same marketing brochure will be emailed out to hundreds of real estate agents that service the area.
Showing your home.
Do you need to be home to let agents and their clients in? NO! I will be listing your home with a company by the name of Centralized Showing Service (CSS). They will receive requests to show your home from the buyer's agent and they will confirm the date and time slot with you. Once you approve that showing, the buyer's agent will be able to access the blue iBox on the outside of your door that will contain the key to the property. CSS will also submit to the buyer's agent for feedback on your home and once they receive the feedback, CSS will email it to you and me to review.
Congratulations, you received an OFFER!
Once an offer is presented, I will advise and help you to obtain the highest possible price and terms. Making sure the buyers are pre-qualified is of utmost importance in negotiating a successful sale and I will require them with all offers. I will promote your interests and assist in developing a clear and binding transaction.
An offer is generally submitted by the buyer's real estate agent and will contain this information:
If the offer is not acceptable to you, further negotiations may be necessary to reach terms agreeable to both you and the buyer. Because counter-offers are common (any change in the offer can be considered a counter-offer) it is important that you remain in close contact with me during the negotiation process so that proposed changes can be reviewed and responded to quickly.
If the offer is acceptable to you, then I will ask you to initial/sign so that we can execute the contract!
Once the contract is executed, this is when the Option Period will begin and last until midnight on the number of days stated in the contract. During this time, the buyer will begin the process of the home inspection. The home inspection is scheduled through CSS so you need not be home. Keep in mind, your buyer can back out of the contract, for any reason... without even giving reason, within the designated amount of days stated in the contract. Having said this, keep up with the appearance of your home and allow your home to be shown if a showing appointment is requested.
Your Contract is at the Title Company
After a contract has been executed, the contract is sent to the title company designated in the contract. They then have five steps to go through to close your transaction.
Step One - Earnest Money
The earnest money agreed upon in the executed contract will be delivered and received by the title company. Earnest money is a deposit made by the purchaser as a sign of good intent to purchase the property. The agreement to convey (or transfer the title) starts the process once it is received at the title company along with the earnest money. Loan application is made by the buyer, and approval is usually subject to a credit check, an appraisal and, sometimes, a survey of the property.
Step Two - Tax Check
The title company then determines what taxes are owed on the property. The various assessor-collectors are contacted by the title company.
Step Three - Title Search
Copies of documents are gathered from various public records: deeds, deeds of trust, various assessments and matters of probate, heirship and divorce and bankruptcy are addressed.
Step Four -Examination
The title company now verifies the legal owner and the debts owed by the owner.
Step Five - Document Preparation
Appropriate forms are prepared for the transfer of title and settlement, or the formal transfer of ownership (commonly referred to as the closing).
This is the day you have been waiting for! The closing is a formal process where all parties sign the necessary paperwork needed to complete the transaction. Title to the property is transferred from you to the buyer. The buyer receives the house-keys and you receive payment for the house! From the amount credited to you, the title representative subtracts the funds to pay off the existing mortgage and other transaction/ closing costs. Deeds, loan papers, and other documents are prepared, signed and ultimately filed with local property record office.
Between Contract and Closing
Throughout this process I will be keeping you up-to-date as well as monitoring the progression to close. A few days before closing the buyer will have a final walk through to make certain that all repairs, replacements and servicing has been done. As a reassurance to the buyer, please save the receipts for all work and submit to me prior to close. Once all your belongings are moved out, it is expected that you leave the home clean. In some instances, professional cleaning and professional carpet and floor cleaning may be required.