The Selling Process

Sellers,

A home is more than a couple of walls and a roof. It represents memories and milestones. Selling a home is a big deal and it can be a very emotional process. There are all sorts of reasons people sell their homes…. downsizing, upsizing, moving closer to family, moving away for a job, and even sometimes for the fun of it! Arguably the most important part of selling your home is knowing your WHY and keeping true to that.

Where to Begin?

1. Schedule a listing appointment.

Our first step in selling your home is this very important meeting. We will cover a lot of ground during this time. So set aside an hour or two to go through everything. We will start with a tour of the whole house. This is the best time for me to get all the info of your house down on paper so show me everything! I want to know about what you love, hate, just renovated, what just broke, and even the crazy neighbors. Then we will go through the packet I put together for your home. Topics we will cover in there…..

Public/tax information on your home that anyone can look up.
Sold houses in the area around your home that are comparable to yours.
Pricing strategies.
Net sheets
Contracts
Showing strategies
Decide on a time frame

At the very end I will measure your home so we can be confident in the correct square footage of your home.

2. List your home on MLS

1.Take pictures.

I have a professional photographer that will come take pictures and edit them to make your house stand out online! All you need to do is let me know when you will have the house ready and I’ll get it scheduled.

2.Decide on a price.

The price of your home ultimately is decided on by you. At this point, we will have talked through strategies, price points, comparables and marketing. BUT! If you still have questions or concerns, let’s talk about them!

3.Disclosures.

You will definitely be filling out a Seller’s Property Disclosure and an extra info sheet. Depending on the age of your home you might also have to sign a Lead Based Paint Disclosure. It is best if we get all this done on the front end so they can be attached to the listing for other agents to show prospective buyers.

5. Any other info.

Any other information you have about your home is very valuable. Things like house plans, Bill of Assurance, booklets about the sprinkler system, list of service providers, or anything else you can think of goes a long way with buyers. I will put together a binder of all that info for buyers to see when they come to look at your house!

3. Get Ready for Showings

I will set you up with a showing request service called CSS. Through this program, you will be able to confirm or deny showing requests via text, email, or phone. When it comes to preparing your home, there are a million tips and tricks to make sure your house puts its best foot forward. In my opinion the most important tips for any home are…..

1. Make sure the area around the front door is absolutely perfect.

2. Remove any pets from the home during showings.

3. Declutter your home before doing any costly projects

4. Allow as many showings as possible

4. Write up an Offer

Since the pandemic started, the Real Estate Market has gone through many changes. Before the pandemic, multi-offer situations came around once or so a month. Now they are much more common. Regardless if you get 1 or 1,000,000 offers. We will talk through and analyze each one so that you have the most accurate and up-to-date information to help make your decision. We will also talk through your options of taking back-up offers.

5. Inspection

Shortly after you accept a contract, the buyers will schedule an inspection. Expect an inspection to take around 3 or 4 hours. Plan to be gone during that time and take any pets along with you. The inspector will need access to attics, crawl spaces, and any out buildings on the property. They will also inspect all appliances (including HVAC, fireplaces etc...) in the house so make sure that all utilities are on and they are all easily accessible. After the inspection, the buyer will have the ability to ask for items to be repaired, replaced, or ask for money instead of repairs. The contract does give the buyer the ability to terminate the contract if they are not “satisfied” with the inspection.

6. Appraisal

The appraisal usually happens after the inspection period is over. If the buyer is getting a loan, their bank will order an appraisal to be done. The appraiser will connect with me to schedule what time they will come out. This process is very easy. You do not have to leave the house and it only takes about 30 minutes. The report will take a few days after that to be finalized. Here are some things to keep in mind when the final report comes in.

If the appraisal figure is MORE than the sale price we keep rolling on to closing.
If the appraisal figure is LESS than the sales price one of two things happens

to a lower amount (Less common outcome)
1. Lower the sales price to match appraisal figure (Most common outcome)
2. Buyer brings cash to cover the gap of original sales price or negotiate sales price
If the buyer is getting an FHA loan, the appraisal will be done by FHA standards and will be given a case number. That appraisal will be filed and stick with the house for 6 months. The bitter-sweet appraisal outcome

~The Bitter-Sweet Appraisal Outcome~

It is always disappointing when the appraisal comes back short. BUT, if it does come back short, that means that the appraisal figure is the absolute highest price the market supports your house selling for right now.

7. Start Packing

My general advice for moving is to not get too ahead of yourself. There is a long road from contract to close so start slow. The buyers will schedule an inspection within the first 10 business days after going under contract. The first step in moving is to make sure that when the inspector comes they can get around to see everything, reach outlets, get around in the attic, etc.... After the inspection is done, start ramping up the moving. You will need to be all moved out by the date of which the possession is changing (either day of closing or if you received delayed occupancy)

Be sure to have utilities and insurance on the home until you are all the way moved out AND closed!

8. Closing Time

You have finally made it to closing week! A lot happens this week!
1. Finish packing and make sure you are all the way out at the time possession changes to

the buyer.
2.Buyer’s will schedule a final walk-through on or a day or two before closing

3. Verify Utilities are scheduled to stay on until the day you move out. 4. Verify home insurance is active until the day AFTER you move out.

5. Together we will schedule closing time with Title Company

9. Get Your Money

Here are a few possible scenarios and how it affects when you get your money!

Buyer closes in the morning + Seller closes in the afternoon + Everyone closes at the same Title Company = Check is ready at closing

Seller closes in the morning + Buyer closes in the afternoon + Everyone closes at the same Title Company = Check is ready a few hours after buyer closes or next business day

Buyer and Seller close at different title companies = Check is ready next business day

Buyer or Seller close out of state or paperwork has to be mailed out = Check is ready 1-3 business days

Seller closes on the purchase of home on the same day as the sale of their home = Title Company will calculate the net figure between the buying costs and selling proceeds.

Jonathan Dixon Realtor