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The
Selling Process
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While
almost 100,000 existing
homes are sold each week
nationally, the process
is not as easy for
sellers as it was five
or 10 years ago.
Surviving in today's
real estate world
requires experience and
training in such fields
as real estate
marketing, financing,
negotiating, networking
and closing. |
| While
part of the
"getting
ready" phase
relates to repairs,
painting and other home
improvements, this is a
good time to ask
yourself why you want to
sell. Outlined below are
important steps in the
selling process. The
home selling process
typically starts months
before a property is
made available for sale.
It is necessary to look
at a home through the
eyes of a prospective
buyer and determine what
needs to be cleaned,
painted, repaired, or
discarded. |
- THE
DECISION TO SELL
Selling a home is a significant
matter. There should be good
reasons for the decision, such
as a job change to a new
community or the need for more
space. Your reason for selling
can impact the negotiating
process so it is important to
discuss your needs and wants
privately.
- SET
THE PRICE - CREATE A MARKETING
PLAN - REVIEW SELLER'S
DISCLOSURE STATEMENT
Many factors affect the price of
a home: location, condition, and
amenities of a home, supply and
demand, and real estate
conditions in the local
marketplace. To find out
what your property is worth CLICK
HERE!
- FIND
THE RIGHT BUYER
- PREPARE
FOR THE SHOWINGS
A house that
"sparkles" on the
surface will sell faster than
one which is shabby, even though
both are in the same
neighborhood and structurally
sound. Additionally, buyers feel
more comfortable purchasing a
well cared for home. It gives
them confidence that the owner
has performed careful
maintenance on what cannot be
seen during a showing as well as
what can. In preparing your
house for sale, consider how
much you should spend to enhance
the exterior of the home for
curb appeal and the interior for
appearance.
- THE
PRESENTATION AND NEGOTIATION
OF OFFERS
At times, in an extremely
competitive market, a multiple
offer situation can arise.
Typically, multiple offers can
be presented to you all at once,
and then a blanket counter offer
can be made. At that time your
agent will review strategy,
price terms, conditions, closing
date, inclusions/exclusions and
other pertinent issues in the
offer. In addition, at this time
it is extremely important to
review the buyers' Mortgage
pre-approval, or other
pre-approval, to determine that
they can afford to purchase your
home.
Once a meeting of the minds has
occurred between all parties,
the official signing of the
contract proceeds..
- THE
CONTRACT
It is typical to provide a $500
or more earnest money deposit
with an offer. Original copies
are normally available for the
buyer, the buyer's closing
agent, the seller and seller's
closing agent, and both real
estate sales associates.
- REVIEW
AND ACCEPTANCE
Review is considered to be one
to three business days.
- HOME
INSPECTIONS - 2ND DEPOSIT -
FOLLOW-UP MORTGAGE APPROVAL
AND CONTINGENCIES
Home inspections and a second
deposit should now be provided
according to the terms of the
contract. Home inspections are
typically ordered within 10
business days. Any issues that
arise as a result of the home
inspection should be discussed.
A written mortgage commitment
for the buyers takes
approximately 30 to 45 days.
- THE
WALK-THROUGH - THE CLOSING
The buyers, along with their
agent, will perform a "walk
through" of the home to
ascertain that it has been left
in "broom-swept
condition" and that items
were not left behind that should
have been removed and that items
agreed to in the contract have
remained in place. Refer to your
contract of sale for specifics.
The closing typically occurs at
the buyer's closing agent's
office.
- THE
MOVE -
Before, during and after the
sale you will have a Relocation
services available to you.
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