Selling A Home
Regardless of if this is your first time selling a home, it can be very intimidating. That is why with my help, we can move together the process as partners who work together from the beginning to the end! I laid out an outline of what to typically expect in the home selling process from the beginning to end but other things can come up and that is what I am here to assist you with!
1. Deciding To Sell – Where To Start
For Sale By Owner
This is one option that you have when you decide to sell. This is an attractive option because it looks like it will save you money upfront but be careful when choosing this option. You are going to have to put in a lot of your own time and money to advertise, show, negotiate contracts and more to get your sale closed.
Listing With A REALTOR
- Of course, I am biased towards this option as a Realtor but here are some of the benefits that I provide to my clients:
- Hands off service. When working with me, you have some decisions and sign documents but you are hands off in advertising, showing and more!
- Having your home in the MLS (Multiple Listing Service). This is a system only available to Realtors and allows other Realtors to see all of the information about your home but more importantly, it exports your home to a multitude of websites including Zillow, Realtor.com, Trulia and more. This gets your home in front of as many buyers as possible!
- Let others show your home. You will not have to be present to show your home (you can be if you would like). Also, other Realtors are going to suggest your home to their clients, expanding its reach among more buyers!
- One of the services that I like to provide is placing the home in additional places beyond the traditional MLS exports. I put homes on Facebook Marketplace, Craigslist, my social media feeds and other places.
- Professional quality photos and 3D virtual tour.
- Ready made forms and contracts to cover almost every scenario that you could imagine.
- Professional negotiating as well as knowledge of the buying and selling processes and resources to ensure that the transaction goes quickly and smoothly!
What Financing To Accept
- Mortgages – This is the most common way that people buy homes. The buyers will secure a mortgage and at closing, you will walk away with any proceeds from the sale minus paying off any loans that you have on the property.
- Contract Sale / Rent To Own – This option is a way for you to sell your home and pass maintenance and upkeep responsibilities off to another but you get paid monthly for the sale. This is a great option for properties that may not qualify for a mortgage but does come with risks and you do not get your money all upfront.
- Assumption Of Existing Mortgage – This option is not used often but is where you need out of a home and sell it to another by having your existing mortgage transferred to them.
- Cash Sale – This is the best sale but does not come around often. This is when you find a buyer that can provide you with cash for the sale and removes the need to deal with a mortgage company.
- There are other sales methods that can take place but are less common but if you have any questions on them, I am happy to discuss those with you!
- Will you need to find and close on another home before you can close on your current home?
- How long will you need to move out of your current home if you are still living there?
- Are there any repairs that you know need to be made to your home or that you would like to make?
- Do you have a dollar amount that you must get out of your home with the sale?
2. Listing Your Home
- This is a very simple process. I will collect some basic details from your home and can provide you with a competitive market analysis to get an idea on the value.
- We will meet to see the home and decide on a final price. We will go through the fine print details and you will sign the listing agreement. At this point, I will take the lead.
- I will get photos and a virtual tour taken, I will install a lockbox with keys to the home, and I will get it listed and start marketing the home!
3. Showing Your Home
- You will not have to be present for showings and typically, it seems that potential buyers are more comfortable if you are not but you do want to be ready for showings if you are still living in the home. I will contact you before to confirm the showings.Things to be aware of:
- Try to have it as tidy as possible. Beds made, trash picked up, kids toys put away, etc. This will make the home more appealing as first impressions are often lasting.
- Put away any valuables. While theft does not often happen during showings, it’s better to be on the safe side. Do not leave cash, firearms, prescription medications or other valuables out where they can be easily pocketed. Also, if you have breakable items that are valuable to you, it’s always a good idea to secure those as accidents can happen.
- If you have any pets in the home, make sure that they are secured. I am sure they are friendly but it is really for their own safety. They could get stepped on or kicked accidently or worse, run out a door and not be willing to come back to strangers.
4. Getting An Offer On Your Home
- It can be exciting when you finally get an offer on your home. There are several pages on conditions to the sale and we will go through each one ensuring you know exactly what it entails.
- A few things covered in the offer:
- The type of financing that the buyer is using.
- If the buyer wants to have inspections done.
- This is important because if they choose to have inspections done, they may return and ask you for repairs to the home. We will discuss this later.
- An anticipated date to close the transaction.
- Who is ordering title work and who is paying closing costs.
- When the buyer would like possession of the home.
- How much earnest money the buyer is providing as part of the offer.
- Many more!
- When you get an offer, you can do a few things:
- Accept it as it is written.
- Make a counter-offer to change the terms.
- Reject the offer.
- Ignore the offer and let it expire.
- If you get multiple competing offers, you can actually ask everyone to resent their best and final offers and pick from there.
5. After Accepting An Offer (Now A Purchase Agreement)
- The offer and any counter offers will lay out exactly how the transaction will go forward. Things we will mainly be focused on:
- Ensuring that the buyer meets their deadlines for things such as being approved for financing, inspection reports, etc.
- Responding to their inspection response. If the buyer chooses to have a professional home inspection completed, after they get the report, they will send us a response, asking for certain items to be repaired or a price reduction. You can choose if you want to meet their ask, counter with another option or reject the ask outright. If an agreement cannot be met, there is a way to end the agreement.
- Make plans to move. The purchase agreement will outline when you must provide possession to the home. Make sure you will be moved out by that date as there is a cost outlined in the agreement for each day beyond that you are late turning over possession.
- Quickly respond to any questions or requests for information. The faster we can get responses back, the faster we can make it to the closing table!
6. The Day Of Closing
- The buyer will have the option to do a final walk-through of the home. The agreement states that the home should be in a similar condition as when you made an offer with the exception of normal wear and tear. It is important to ensure that the home remains this way to avoid any complications.
- The closing will be scheduled at a time that the buyer and seller, their agents and the title company are all available. Typically a closing will take place at the title company’s place of business but can vary.
- At closing, you will sign all of the relevant documents to the transaction including mortgage release documents, title transfer documents and more. There will be assistance with all of this.
- If the home that you are selling gives the buyer possession on the day of closing, you will provide them with the keys. If you will be giving possession after a set amount of time, that will be arranged as well.
7. Enjoy The Next Chapter Of Your Life!
After a sale, it is time to begin the next chapter of your life, regardless of what you are planning.
Want a FREE Competitive Market Analysis?
Complete a simple form and I will work with you to put together a free Competitive Market Analysis.
Let’s Schedule A Time To Talk!
Select an appointment time and how you would like to meet and we can have a chat to see how I can best serve you!
Have A Question? Contact Me!