BuyingSelling Processes.jpg

Find a Reputable Realtor

Hire a trusted, knowledgeable, and experienced real estate agent.  This is one of the crucial mistakes that many sellers make by not putting enough time and effort.  Choosing the right real estate agent will make the entire home selling process easier.  The best real estate agents don’t just list your home and find the right buyer – they help you prepare and advise you the entire way.  You’re selling your most valuable asset, so you need to make sure you do your homework.  The difference between two real estate agents can literally be tens of thousands of dollars in your pocket and the difference between a stressful home sale and an easier one.  Therefore, finding the right real estate agent is the first step to selling your home and you can’t afford to miss this step.  Find the agent that seeks to understand your needs.

 

Home Equity Analysis -

No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the home equity analysis is most useful.
 

What is a HEA?

The HEA is a side-by-side comparison of active homes for sale, expired listings, and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.

 

How is the HEA created?

HEAs are generated by using property information from the local multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate HEAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
 

How accurate are HEAs?

The HEA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions/increases, and expired listings.

As informative as the HEA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
 

Signing Listing Agreement

Completing the listing agreement paperwork will allow the agent to start marketing and selling your home, but it also serves to protect you and your assets. Here's an overview of the information the listing agreement will include

  • Basic information like your name and the address of the property we are listing for sale.

  • Mortgage lender & balance

  • Type of offers we can accept.

  • The agreed-upon list price.

  • Compensation for when property is sold.

  • Highlight what items will convey with home

  • How I handle multiple offer situations

  • Required disclosures

  • Indemnification

  • Fair housing

  • HOA details

  • Special Assignments

  • Yard Sign

  • Lockbox

  • Is the property vacant or leased, how long?

  • Tax

  • Mediation

  • Was or is the house in foreclosure

  • Has a notice of default been issued

  • State laws

  • Internet marketing permission

 

There may be other information that is tied to state or local regulations.

 

Accept and Sign Offer

Vet the buyer and their offer – identify contingencies, proof of funds, disclosures, and lending options

Negotiate with the buyer before offer will give the seller a better deal.

 

DDP – Buyer to due diligently inspect the home; obtain necessary appraisal

 

Final Walkthrough – Seller removed all property and prepared the home to welcome new homeowners.  One of the first steps of the closing process is having the buyer conduct a final walkthrough of the property before the closing date.  The purpose is for the buyer to acknowledge that the property is in the same condition as when they first saw it..

 

Closing - You’ll sign the closing documents changing the ownership of the deed from you to the buyer.  Legal photo ID and account and routing numbers of where you want your funds wired to.  The real estate attorney is there to look over the contract and final documents that will officially transfer the property to the new buyer.  DON’T FORGET SUBMIT MAIL FORWARD AND CANCEL ALL UTILITIES.