The Home Selling Process-What to Expect

You have decided to sell your home! Whether you’re downsizing, upgrading, or relocating, selling your home can offer many opportunities.  But what is the process that you must go through? Maybe this is your first move and you’re completely lost, or you have moved many times. Whatever it is, every move is different and having an Agent by your side to think about all the moving pieces can help you feel less stressed. 

So where do you start? Here is what the selling process typically looks like. 

LISTING PRESENTATION

This is where I come tour your home. Viewing the home is very important because it will tell me how your home compares to other homes that have recently sold. Without being able to walk inside the home, an Agent can’t tell if you have updated the kitchen, refinished the flooring, added another bathroom, or finished the basement. All of which can change the value of your home. During a listing presentation I will learn your goals for the move, what you want to get out of it, and what we can list it for. This does not cost anything for me to come and answer questions so you can decide if selling is the best option for you. Once you have decided to move forward we will talk about specific preparations so that your house is listed competitively in the market.

PREP YOUR HOME FOR SHOWINGS

During this time period decluttering the home, catching up on any home maintenance you have neglected, cleaning, and possibly getting a stager will get your home ready for showings. Cleaning up the front and landscaping could increase the curb appeal of your home as well. If you need any contractors, renovators, or decorators I can get them in contact with you. 

Somethings you can do could include:

·      Painting walls

·      Caulking tubs and windows

·      Cleaning gutters and landscaping

·      Updating bathrooms/kitchen

·      Remove personal items, and decluttering surfaces

·      Reorganize closets

·      Eliminate odors, cleaning carpet and rugs

·      Power-washing decks, driveways or walkways

Once you have cleaned and decluttered you will be ready to list your house for the public to see. Right before you list, I will schedule pictures and come take measurements of each room. Lastly, I will take a key for the lockbox and place a for sale sign in your yard.

LISTING YOUR HOME FOR SALE

This is when showings will take place. Other agents will schedule showing with their clients to come walk through your home. You will want to leave during this time, maybe stay a day to two at a nice hotel (staycation) or take a family day trip.

REVIEW OFFERS

You can choose to look at offers as they come in or set a deadline and time to go over any and all offers on a certain date. I will take the offers and organize them based on your priorities. Then we can go through the offer(s) and decide which is the best for you. Each offer is a sales contract signed by the buyer that will have the purchase price, finance options, contingencies, close date, possession date, and any other special requests. You can then decide if you want to accept an offer, counter an offer, or decline. I will negotiate all of this for you by leveraging my expertise to work on your behalf. 

UNDER CONTRACT/INSPECTIONS

You accept an offer, Congratulations! The next step is the buyer’s inspection period. They will have 10-15 days (whatever was negotiated in the contract) to perform all inspections. A home inspection is a thorough review of your home. They will check foundation, roof, appliances, plumbing, electrical, and safety issues in your home. A buyer can use the inspection to as for fixes, take your property “as is”, or cancel. 

To prepare for an inspection: 

·      Make sure everything can be accessed

·      Remove trash

·      Empty dishwasher, dryer/washing machines, and ovens

·      Make sure home is clean

·      Check lightbulbs

·      Provide documents about past maintenance and repairs (if possible)

APPRAISAL

The next step is the appraisal, it’s one of the last step before closing. If a home is being financed an appraisal is usually needed. An appraiser will come out to your home and make sure it is priced correctly for the market. This is paid for by the buyer and the appraiser works for the lender. They may require certain things to be done for your home to meet certain requirements of a loan. 

An appraiser will look at the following to determine the price of your home. 

·       Comparable properties in the area that are most similar to your home

·       The size of your home/land

·       The condition of your home

·       Number or rooms and bathrooms

·       The location of your home

The appraiser can then say that the price the home is under contract for is acceptable, too high, or is worth more. As a seller you will only know if it was priced right or if it is under contract for more than what the appraiser thinks the homes is worth. If the home is appraised at contract price you will move to closing. If it comes in low, we have 5 days to renegotiate with the buyers to agree on new price. You can ask buyers to come up with the difference in cash, split the difference, or you can come down to the appraised price. If no new price is agreed to, after 5 days, either party can cancel. 

PREPARING TO MOVE

During this time, here are some things you want to start doing:

·      Packing

·      Taking care of any repair requests that the buyer has requested from the inspection period

·      Gather all appliance manuals and warranties for the buyers

·      Cancel all utilities for the day after you move/closing day

·      Change your address

·      Review all closing documents

·      Clean the house for buyers final walkthrough

·      Hire a mover!

Scroll back up to my Sellers Guide to get recommendations for movers, cleaners, and more.  

FINAL WALKTHROUGH

For the final walkthrough we ask you to leave so the buyers can walk through the home a day or two before closing. This is when they check to make sure everything is in order and check to see if all repairs have been completed (if they had asked for any). 

CLOSING DAY

WOOHOO! You have made it to closing day! On this day you will sign all the closing documents, the loan will process, and funds will be distributed (usually by a wire transfer).

Cancel your homeowners’ insurance and save all documents for your tax records.

Make sure to keep in touch with me for all your future real estate needs. If you or a friend ever decided down the road to buy or sell, I will be here and ready to make it happen!