Home Selling Process
Home Selling Process
You’re ready to sell your home!
Your first step is to have your Realtor assist you with practical ideas on how to successfully prepare your house for sale.
This is also a good time to gather all your paperwork that you will need to expedite the closing once you have an acceptable offer. Your Realtor can provide you with a list of these items. In addition, you may wish to begin the process of selecting a local Real Estate attorney to represent you once you have an accepted offer on your home. If needed, your Realtor can provide you with a list of local attorneys that specialize in real estate.
What should I list my home for?
There are many factors that affect the list price of a home: location, condition, amenities, supply and demand, and local and global market conditions. Your Realtor will assist you by providing a thorough market analysis of your home so you will be able to come up with a realistic, competitive pricing strategy on your home.
What is the Property Condition Disclosure Form?
Most sellers of single- and multi-family residential homes are required to provide potential buyers with a completed and signed property condition disclosure form.
Disclosure statements, which can come in a variety of forms, are the buyer’s opportunity to learn as much as they can about the property and the seller’s experience in it.
Potential seller disclosures range from knowledge of leaky windows to loud neighbors to information about a major construction or development project nearby. Not only do disclosure documents serve to inform buyers, they can protect the sellers from future legal action. It is the seller’s chance to lay out anything that can negatively affect the value, usefulness or enjoyment of the property.
My goal is to not simply sell your house, but help you realize the best price obtainable for your property. During the market analysis presentation your Realtor will explain every aspect of the selling process to you.
The relationship between you and your Realtor is the key to the successful sale of your home. Your home and your needs are unique; therefore your Realtor won’t use a pre-designed plan to sell your property. Your Realtor will listen to your goals, address your concerns, and use his or her knowledge and experience to create a custom plan that will effectively result in a sale.
A Buyer is Ready to Present an Offer!
When an offer is presented, your Realtor will advise and help you to obtain the best possible price and terms. Understanding the standard forms and the many transactional issues is key to negotiating the best terms to meet your individual needs. Making sure buyers are pre-qualified is of utmost importance in negotiating a successful sale. Your Realtor will promote your interests and assist in developing a clear and binding transaction.
Again, because the offer procedure and paperwork varies within the Tri-State area, please consult with your Realtor who will review the specific procedures followed in your area.
Typically an offer is initiated by the buyer through their Realtor and includes the following information:
You have an Acceptable Offer!
Between Contract and Closing
Throughout the transaction, you will need to closely monitor the progress of all contingencies to make certain that all deadlines are met. On the day of closing, the buyer will have a “final walkthrough” to make certain that the house is left in “broom clean” condition and has been thoroughly vacated.
What to expect at the Closing
The closing is a formal process where all parties sign all of the necessary paperwork needed to complete the transaction. Title to the property is transferred from you to the buyer. The buyer receives the house-keys and you receive payment for the house! From the amount credited to you, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and ultimately filed with local property record office.
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