Select an Agent
and Price

CHOOSING YOUR LISTING AND REAL ESTATE AGENTS

Picking the right listing agent will help you start off your selling process on the right foot. Make sure you research an agent’s track record of original listing prices compared with final sale numbers – not just who has the highest original listing price and lowest commission. After choosing which agent will represent you, aim to meet with at least several real estate agents and choose yours while taking their experience into mind.

PRICING YOUR HOME ACCORDINGLY

Don’t make the error of overpricing your home – find out how much it is truly worth. A Comparative Market Analysis report is free and can provide you with your home’s value as related to like homes that have already sold. You might have come across a CMA in the past from postcards or direct mail letters and can ask your agent about where to find your relative CMA. Remember that your home is an investment, so evaluate if your market is hot, cold, or neutral and price accordingly.

Prepare
to sell

Get your property ready for sale by cleaning, decluttering, and improving curb appeal. Hiring a professional stager or having your real estate agent do the staging will make your home much more appealing to buyers – sometimes you will even be able to use your own furniture. Remember to make repairs and have your pets stay somewhere else during this period.

To increase buyer traffic to your property, an online presence is necessary. Well-lit professional photos and appealing, explanatory descriptions will make a huge difference in outside perception. Get ready for an open house and decide if you want your agent to stick to appointments only or use a lockbox to which will allow for more showings. Request buyer feedback, then change your pricing, condition, and marketing plan in response.

Accepting
an Offer

Plan for more than one offer if your property is priced accordingly and make sure buyers use the correct form to write a purchase offer. Reply to each offer, even the lower ones, which you can negotiate with a higher counter offer. If your pricing is logical and viable in the market, don’t be afraid of making a full-price counter offer. You can contemplate making a counter offer that is conditional with buying a home, if the market conditions permit it.

Escrow Inspections
and Appraisals

Your agent or transaction coordinator will be who opens escrow and orders the title policy. Ask for the contact info for the closing agent to keep in your own records. Think about when your buyer’s mortgage loan will fund (dependent on all loan documents being signed and all funding conditions being met) and choose a following a date accordingly. Decide upon an earnest money deposit (basically a good faith deposit) and request a receipt. This is not the same as a down payment, but it is a part of the down payment process.

Make an appraiser appointment and clean the house the day before his or her arrival. You can ask your agent about alternatives if you receive an appraisal lower than you were expecting. Remember, you are not entitled to collect a copy of the appraisal because you did not pay for it. In the case of a buyer pitching a renegotiation or withdrawing a contract based on an appraisal, you can ask about your rights from your attorney or agent.

Close of
Escrow

Get ready for the home inspector’s visit and ask your agent for a home inspection checklist to know exactly what the inspector will request to see, including the basement and the attic. Also, prepare for the final walk-through inspection to take happen a few days before or the morning of closing. Acquire seller-required inspections (like roof, termite, and sewer) and communicate seller disclosures, like lead-based paint disclosures and other material particulars. Don’t be afraid of negotiating the pricing and necessities of the inspections and repair requests.

If you don’t ask your buyer to release contingencies, he or she is not obligated to provide it and may have the right to cancel the contract. When signing the title and escrow documents, make sure you have a valid photo identification on you. Upon closing escrow, your property deed, conveyance, and deed of trust will be put into public records. Contingent on the contract’s specified buyer possession rights, you may be required to move the day the home closes (or even the day before) – so make sure you are ready.