The Selling Process
Begin the Selling Process by reviewing “How To Prepare Your Home For Sale”.
Before your home is ready for the market, if you have a mortgage or any type of loan on your property, it is imperative to talk to your lender about any applicable payout penalties that you should be aware of.
Now that your home is ready for the market, the following simplified steps are what goes into the sale process from start to finish.
1. Initial walk-through.
• Take me for a tour through your property as if I am a buyer and you are selling your property to me. It is important to point out any changes or upgrades you have made in order for me to better assess the market value in it’s current state.
• I would also love to hear all of the reasons you have enjoyed living in the property or any specific details worthy of mentioning that may assist me in properly marketing your home.
2. Establish fair market value.
• I will prepare a formal market evaluation on your property. In order for me to establish the fair market value of your property I will study the comparable listings currently for sale in your area and more importantly, the comparable listings that have sold within a reasonable time frame relevant to the current market conditions. We will then mutually agree upon a fair asking price and prepare the listing documents.
3. Preparation of listing.
• We will sit down together to go through all of the mandatory forms for listing your home for sale and answer any questions regarding forms.
• We will discuss the applicable commissions.
• I will take structure measurements inside and out.
• Take photos for the online marketing. Interior photos of your home will only be posted online following your consent.
• I will ask for your contact information and how you would like to be notified for showing requests. It will be helpful for you to provide me with any of the documentation you have in regards to your home (surveyor’s certificate, utility statements, receipts from any applicable upgrades, etc.).
• I will need a spare set of keys to go in the lockbox in which Realtors® showing your property will use to gain access.
4. Your listing goes viral.
• Beginning on the date agreed upon in the listing agreement, your property will be listed ‘active’ on the MLS® and all of the other online marketing sites we utilize.
• A new listing typically generates the most interest with prospective buyers so be prepared to begin receiving notification of showing requests as soon as your property becomes an active listing.
• Either myself or my office administrator will communicate with you by way of your choice (call or text) for all showings to confirm that the date and time works for you.
• I ask that you would leave the property vacant during showings if possible. Realtors® will access the lockbox for the keys, then once they have finished they will put the keys back in the lockbox after locking up.
5. We have an offer!
• Once we receive an offer on your home, I will contact you at the earliest available opportunity.
After discussing the details of the offer with you, we have three response options:
1. We can accept the offer in it’s entirety.
2. Counter offer any specific details (price, terms, possession, etc.).
3. Decline the offer all together.
• It is important to note that in order for an acceptance or counter offer to be a legally binding agreement, it must be in writing with signatures from both the buyer(s) and seller(s).
6. Offer has been accepted.
• Once negotiations are complete and both you and the buyer(s) have agreed in writing, if the offer has any conditions attached to it your home is now considered conditionally sold. In most cases, it is common to see buyers have conditions in their offer which can take anywhere from 1 to 2 weeks to satisfy unless the buyers have to sell their own property in which case could take much longer. We will discuss your options based on the offer we receive.
• I will then notify you of the date and time of any applicable inspections the buyers have requested to make in the offer to purchase agreement. If the buyers have requested a home inspection, it is standard and recommended for you to vacate the property during the inspection so that the home inspectors can diligently do their job (count on approx 4 hours).
7. Removal of conditions.
• As soon as the buyers have satisfied all of their conditions in writing (for condominiums this will include the Schedule “C” documents expiration time) your property is now officially SOLD!
• The sold sign will now go up in the yard if applicable and your listing will be marked as sold on all associated websites including the MLS®.
• I will remove the lockbox and keep the keys at my office until possession day.
8. Possession day.
• On the day of possession, once your lawyer has notified me that the buyer’s lawyer has sent over the sale money in trust, I will contact you to ensure you have fully moved out of the property.
• You can leave all spare keys, garage remotes, codes,etc. on the kitchen counter along with any instructions for the buyers regarding mailbox, door codes, etc.
• I will then contact the buyer’s agent to notify them that the keys are now releasable and make arrangements to hand over the keys.
• The transaction has now completed and you can expect the sale proceeds from your lawyer’s office to be delivered to you typically within the next week of the possession date.
The only thing left to do now is tell all of your friends and family what a great Realtor® you have! ;)