Find a Realtor:
Find a Realtor you can trust! A good Realtor will not only have a plan to sell your home, but also be able to navigate your wants and needs in finding your next home.
Discuss Local Market and Marketing Strategies:
Your listing agent will provide a competitive market analysis. This will help you determine the best possible pricing for your home. They will also help your listing stand out from other listing on the market.
Prepare House to be Listed with Realtors’ Guidance:
To ensure top dollar for your home, clean the interior and exterior. Discuss with your Realtor whether any touch-ups should be completed. Your Realtor will be able to give you insight into what projects will bring additional value to your home while on the market.
Execute Disclosures and Listing Agreement:
Your Realtor will provide you with an agreement to put your property on the market and ask a variety of questions about your home. Answer all of the questions to the best of your ability. These questions may come in the form of a legal Disclosure or general questions from your Realtor. This will not only help them market your property to its full potential, but will also help avoid surprises that may pop up along the way. Always remember that if you have any questions, just ask! Your Realtor is there to help YOU and you should always feel comfortable with them to ask for any clarification you want throughout any part of the process.
Place the Home on the Market:
It’s time to place your home officially on the market! Your Realtor will activate your home on the MLS (Multiple Listing Service) as well as a vast network of marketing platforms. Potential Buyers will be able to see your home immediately.
Activate Marketing Campaign, Open House and Brokers’ Open:
Now that your home is officially For Sale, your Realtor will put into action the marketing plan that you devised when you first discussed listing your home.
Realtor Presents Offers and Assists with Negotiations:
Your Realtor will present you with all of the offers that have been placed on your home. You and your Realtor will review them together and determine which is the best one for you.
Accept an Offer:
Once you find the offer that best suits your needs, you will sign the Purchase Offer.
Distribute Accepted Offer to Attorneys and Lenders:
Once the Buyer and Seller have signed an offer, it is considered “Executed” and is sent to the attorneys for each party as well as the Buyer’s Lender (when applicable). This is completed by your Realtor.
Buyer Performs Inspections:
If the Contract has any contingencies in place, you will need to abide by those requests and allow any inspections or testing to be completed. This may be (most commonly) in the form of a Home Inspection or Radon Testing.
Negotiate any Home Inspection Concerns:
If there is an inspection contingency (example: Home Inspection, Radon testing), they will need to be completed by the deadline in the contract. Once the inspection(s) is completed, you will negotiate any issues that come up during the inspection(s). This will be done with the aide of your Realtor so you are not alone in this process.
Satisfy Any Contingencies:
Any contingencies that are negotiated will need to be satisfied. Once the contingency is met, the Buyer will sign-off that they are satisfied. An example of this process would be a repair being completed that a Buyer requested and the Seller agreed to.
Buyer Submits Paperwork to Lender:
The Buyer will provide any documentation their Lender requests from them in order to be approved for a loan. Documentation may be things such as pay stubs and tax documentation. Nothing is required from the Seller during this step of the process.
The underwriting department will analyze the financial capabilities of the Buyer. Nothing is required from the Seller during this step of the process.
Mortgage Commitment Issued:
This signifies that the Buyer has been through Underwriting and the loan application has been approved. The approval of the loan will be contingent on a Bank Appraisal of the home.
Attorneys Conduct Title Work Process and Survey Updates:
The Seller’s attorney will send the title to the Buyer’s attorney who will ensure that the title is clear of any liens or judgements.
The appraiser’s job is to determine the market value based on comparable sales in the nearby neighborhood. This is to assure that the amount of money that has been requested by the Buyer for a loan is appropriate and that the house is structurally sound.
The attorneys will verify that there are no encroachments or encumbrances on the property.
Clear to Close:
This is issued by the attorneys and indicates that the title company can now start the closing disclosure.
Make Arrangements to Move:
Whether it be moving into your new home or a temporary situation until you find your next home, your move will come towards the end of the process in selling.
Final Walk Through:
The Buyer will complete one final walk through of the premise to be sure everything is in the same condition as when they made their purchase offer. This is done prior to officially closing.
Completed at the attorneys’ offices. The title is transferred from the Seller to the Buyer. At closing the Buyer receives the keys to the property and the Seller receives payment for the sale.