The Home Selling Process

Normally, our first meeting will take place in your home. I want to see your home and hear about its unique features. As we walk through your property, I’ll ask a lot of questions. During this visit, we will also discuss your goals for the home sale. What is your timeline? What do you want/need for net proceeds? Will you be buying another home and how does this sale affect that purchase or move? The more you share with me, the easier it will be for me to help you.

After the home tour, we will sit down and talk about the local real estate market and how it affects your property and list price. I will come prepared with a Comparative Market Analysis which will show not only the sold sales but active and pending listings. Then we will discuss how each home compares to yours and how they impact your potential sale and list price. Choosing the list price is your decision. You will be given all the data you need, and I will help you understand the turnover rate, months of inventory available, and average days on the market so that you can choose a list price that fits your needs and timeline.

Preparing your home for sale might be as simple as fresh flowers in the front yard. It’s important to think about what the buyers will see as they tour your home. This is where the professional home stager could come into play. Typically, even a dated home can be spruced up with small changes in furniture placement, fresh paint, new lighting, and/or minor repairs. A small investment can net thousands of dollars in a sales price.

Once your home is ready for homebuyers, you will list your home and I will implement our marketing plan. I use a professional photographer and provide extensive Internet exposure. The first week I will hold a Broker’s Open House to invite the local agents through the home to view its unique features. If it makes sense and you are willing to accommodate, there could also be public open houses. The goal is to get as many buyers through your home as possible.

Once you start to receive offers, we will meet to review them together and determine how to respond. Typically counteroffers reflect a change in the sales price, but they could also ask for different terms. These terms might include a higher deposit, shorter escrow period, or shortened contingency timeframe. Once you have an acceptable offer, then escrow is opened.

Much of the escrow process involves the buyer’s side of the transaction. You will provide seller disclosures to the buyer. This disclosure will notify the buyers of any problems or conditions you are aware of with the property that could be an issue….and what has been fixed. If you’ve agreed to provide anything, such as termite clearance or septic tank certification, this will be arranged during this time as well.

Once the buyer has completed all their home inspections, they might request that you make repairs or provide a credit. You are under no obligation to make these repairs. The home inspection is part of the buyer’s contingencies, however so if the parties cannot come to an agreement or if the buyer will not accept the property as–is, then they do have the right to cancel. Typically, in this heated real estate market, the requests for repairs relate to fire and safety concerns and issues.

Before the closing date, you will have signed all your documents with escrow. On the date of closing, you should have nothing to do but wait for the phone call that the title has transferred. Escrow will then balance the file and wire your proceeds. This typically takes place the following day. The sales process is a series of steps that you we will take together. Knowing what to expect, and when, can alleviate the uncertainty you might feel as a seller. Once escrow is opened, so much happens on the buyer’s side of the transaction that days can go by with no update. That’s ok, and normal! It’s my job to make sure you understand each step along the way and have all your questions answered.