Now that you’ve decided to sell your home, what happens next? The following steps are an overview of what you can expect during the home-selling process.
1. Representation
Finding the right agent. My job is to represent your best interests through every step of the sales process.
2. Price
Determining the right price is hands-down the most important part of achieving the highest return in the least amount of time. In order to determine pricing, I will provide a comprehensive comparable market analysis which walks you through what your home is worth – and why.
3. Prep Work
First impressions are key when selling a home, so before the ‘For Sale’ sign goes up, put in the time to make sure the property is in top shape. This will also help you net the highest return. I will walk through your home with you and help determine the best use of your time and resources.
4. Putting Your Home On The Market / Marketing Your Home
Creating a plan to market your home will help attract the right buyer. My comprehensive marketing schedule ensures your property is getting maximum market exposure.
5. Showings
If you occupy your property, showings can be an inconvenient, but are a necessary part of the home selling process. When your home is on the market it has the potential to be shown at any time, so it's important to maintain a certain level of cleanliness. It’s also best to vacate your home for showings.
6. Receiving Offers / Purchase and Sale Agreement
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is signed by both parties.
7. Inspection
Now, a home inspector is hired (by the buyers) to investigate every nook and cranny to determine if the home is in need of any repairs. An inspector will check items such as the roof, foundation, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with you to cover the costs of certain repairs or to ask for concessions.
8. Closing Preparations
After any necessary repairs have been negotiated, I help schedule repairs and will coordinate the completion of all required forms until the transaction is complete. Further, if the buyer is obtaining a loan to purchase the property, the lending institution will require an appraisal on your home to determine the value. Prior to closing, the buyer may also request a final walk-through of the property to ensure all repairs were completed and that the home is in acceptable condition.
9. Closing
At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded. Prior to closing, you'll receive a settlement statement outlining any fees which may apply to you.