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SELLER


Steps In Selling Your Home

If this is the first time you will be selling a home, or if it has been a while since your last real estate transaction, a quick list of the typical steps can help you know what is coming next. If you have any questions, please feel free to contact us.

You're thinking of selling.

You've pondered, you've reflected, you've just plain decided that you are going to sell your home.

Decide where you are moving.

Are you going to buy another home? In the same area? Different area? Bigger house? Smaller house? Condo? More land? Less land? Rent for a while? Or are you open to several alternatives?

Contact Rion Real Estate for a Market Analysis.

Before you do anything else, you need to know how much you will realize from the sale of your current home. The amount you have to put towards your next home is often dictated by how much you net.

A sound Market Analysis will take a look at homes in your area that are on the market or have recently sold. Based on that information, it will provide a value (often a range of values) that buyers are paying for homes like yours. Request one now.

Get your home ready to go on the market.

There are a number of things that you can do to make sure your home shows as well as it possibly can - de-clutter, organize, paint if necessary, clean, etc. If you're like most homeowners, you probably have a small home improvement project or two that you have been meaning to complete. We can help you determine if that project has good "bang for the buck".

There are some improvements that almost always pay you back, sometimes at a profit, and there are some projects that do not add as much value as they cost. Part of our market analysis will include suggestions, and of course you are always welcome to ask specific questions. In the mean time, we'll take care of all the leg-work as far as gathering information about your home, ordering a title pre-commitment, taking photos, designing top-notch marketing materials, etc.

Accommodate showings.

It's no secret, showings can be inconvenient. Buyers may request last-minute showings while you're in the middle of laundry, cooking dinner, or watching a movie. You should, however, make it as easy as possible for buyers to take a look at your home when they request.

It may be tempting, especially if your home is getting a lot of showings, to ask buyers to change the appointment time they request or specify only certain times that your home may be shown. It is not in your best interest to do so. If setting an appointment to show your home is too difficult, some buyers or agents may decide it is not worth the trouble.

In many cases, when a buyer has requested a showing they are looking at a number of homes. Their agenda may only allow them to be available to see your home within a certain time frame when they are in your area. It is in your best interest to have as many potential buyers see your home as possible. Making it easy for buyers to come through can be bothersome, but it is worth it.

Negotiate with the buyer.

You have received an offer! Congratulations! There is more to negotiating an offer than just the sales price. We work to make sure that the other terms of the offer (like the closing date, timeline for inspections, financing approval, etc.) are compatible with your situation. We make sure that you get the best deal possible.

The purchase agreement.

Once everyone has signed the offer, a copy will be distributed to all parties involved in the transaction.

Title work.

The title company springs in to action! As part of the closing process, the title company will update their commitment for title insurance. The escrow company, which is sometimes the same company as the title company, will work on obtaining payoff information and making sure that you are passing clear title on to the buyer.

Property inspection and other contingencies.

If the purchaser of your home has elected to conduct a property inspection, pest inspection, or other type of inspection, they will have a limited number of days to do so. A typical property inspection takes several hours and it is preferable that you be absent. In fact, the buyer may even request that you are not there. In the event the inspection is satisfactory to the buyer, they will send a written notice called a contingency removal.

In the event that the property inspection is not satisfactory to the buyer, they can do one of two things. (1) They can request that concessions be made. For example, the buyer may request repairs or a reduction in the purchase price. Concessions can be negotiated. (2) Alternatively, they may withdraw their offer to purchase your home. The same process is following for all contingencies on the sale of your home. For example, if they have requested a pest inspection, an inspector will visit your home.

The inspector will give the results to the buyer. The buyer decides if the results are satisfactory. If they are, a written contingency removal follows. If not, a concession request or a withdrawal of offer will be presented.

Appraisal.

In most cases, the purchaser's lender will require an appraisal to receive final approval for the buyer's mortgage. They will contact our office and we will set an appointment with you to let an appraiser view your home. Typically, an appraiser will only take 15-30 minutes in your home. Sometimes they may only need to view the exterior of your home.

Financing approval.

If the purchase agreement you signed includes a financing contingency, there is a date in the contract by which time the purchaser's financing needs to be secured. We'll keep you updated, and forward a contingency removal form to you when that requirement is met.

Tracking.

From the time you receive the purchase agreement, we are in contact with the other agent, title company...any other parties involved in the transaction. We will keep you updated on any matters that require your attention, so you always know what is going on.

Closing and beyond.

We are there to represent you while we work towards closing, at the closing, and after the closing.