⌂ The Home Selling Process - What to Expect

1) The Right Realtor

●  Choosing the right Realtor involves weighing many skills. The best agents likely won't be the ones on the bus bench or the ones that have been in the business for 40 years.

●  A good agent in today's market will be extremely tech savvy because marketing is all digital and buyers will require modern forms of communication including texting, smart phone apps, and electronic signatures.

●  You also want an agent that won't just tell you what you want to hear to get the listing. A good agent wants to SELL your house, not just LIST it.

2) Determine Your Home's Current Market Value

●  Your Realtor will provide a Comparative Market Analysis or "Comps" based on recent sales of comparable homes in your area within the past 3-12 months.

●  You will also review homes currently on the market nearby to learn what your direct competition is doing. If your home is overpriced compared to these homes, buyers will see it and avoid your home.

●  You may even want to price it slightly lower than the competition to increase excitement and induce multiple offers and possibly a bidding war which will push the pricing up further.

3) Preparing Your Home

●  If you'd like to get the highest possible price for your home, you should prepare it for the market. This will include sprucing up the curb appeal, clearing all clutter and personal photos, and repairing any items in the home that are broken or malfunctioning. An inspection will be done by the buyer and it will expose any items in disrepair which will cause them to request repairs or a credit.

●  A fresh coat of paint is the most cost-effective way to increase value, as well as placing clutter in storage for best showing condition, and finally, a deep cleaning.

4) The Listing Contract

●  The contract specifies the length of the listing, compensation to your Realtor and cooperating agent who ultimately is the one who brings the buyer, and other details such as items excluded in the sale.

5) Showings

●  Your home should have maximum exposure for maximum benefit. This includes a large "For Sale" sign in the front yard and a lockbox to give access to agents with interested buyers. Availability is also critical. This means that you should make every effort to make the home available and spotless at all times from 9am-8pm, 7 days per week for potential showings.

●  Do not let just anyone in off the street though. For your safety, require that anyone who enters must come with a licensed agent and give them your agent's card. This also ensures the "buyers" have actually been vetted and are qualified to purchase a home in your price range.

●  Your Realtor should do at least 1 or 2 major open houses where they advertise on all major real estate websites and social media, as well as to every homeowner within a few blocks of your home.

6) Offers

●  Your Realtor should communicate with you about interested potential buyers and any talk of offers coming in. If priced right during a stable market, your home should receive an offer in less than a month. The offer should be reviewed with you carefully and terms should be explained. Price is not the only detail you should review within the offer. The buyer's mortgage pre-approval, contingencies, down-payment, closing timeline, and many other terms are to be carefully scrutinized.

7) Escrow

●  Once an offer is accepted and signed by both parties, it is a binding contract. Escrow will then be opened and earnest money will be deposited by the buyer. At this point, the buyer should be given reasonable access to the home to bring a certified physical inspector, pest inspector, appraiser, surveyor, and any other professional necessary to do their due diligence.

●  You will be required to disclose known material facts to the buyer about the home. Your Realtor will provide the necessary state mandated documents to complete and provide to the buyer.

●  A title search will be done by the selected title company to confirm title to the property is clear.

●  Within the contractually agreed upon number of days, the buyer is required to clear contingencies, request an extension, or back out of the offer if buyer and seller can't reach agreement about repairs.

●  Once contingencies are cleared, we proceed to closing. A few days before close of escrow, buyers will do a final walk-through to confirm the home is in the same condition it was when they made an offer, along with any repairs.

●  Upon recording of the sale, the keys are transferred to buyer.

Planning to sell your home within the next few months?

Contact Award Winning Realtor: Media Fettinger

Mobile: (619) 634-8445

Email: Fettinger@outlook.com