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Selling Proces Overview

So you want to sell your house.  It is a process that will take some time and money to accomplish but Anderson Real Estate Group specializes in selling.  We have an outline to give you a road map of sorts, but  every house is unique in specifics, so consider this a general explanation with details to be determined.

 

First lets talk about you.

  1. Why are you selling?
  2. Where are you moving to?
  3. Have you started the buying process?
  4. Do you have a firm or flexible date for the move?
  5. Soul searching question…  What is your biggest fear in selling your house?

Most agents do not start the selling process with these questions but this is essential to a smooth transaction.  A rule of thumb is;

                 If it is a buyer’s market, then you should start the selling process first.

                 If it is a seller’s market, you should start the Buying process first.

                 But the process overlaps in either case.

But be sure to have a full review of both by AREG so your strategy is well planned.

 

Selling process

  • Hire a listing Broker.  I know that sounds a bit self-serving but take it from us, selling your own home is a painful process even if you are a broker.  Our Listing Booklet will detail the myriad of services that AREG provides.  We position houses so they sell for the most money, in the least amount of time and inconvenience, and orchestrated to take a smooth predictable path to closing. You do not want to drag out the selling time.  It is not good for the house history or the final sales price and it is VERY painful for you.
  • Take a walk through with Your Listing Broker.  Preparing your house to sell is one of the most important things you can do to sell.  For details go to Preparing your house to Sell.
  • Set a timeline and a budget to complete any work needed.  AREG has developed a list of quality, economical suppliers to aid you in this process.  ONLY perform work that an inspector will call out or that will increase the value and / or salability of your house.
  • Make an extra key for your Broker.  If there is an alarm, indicate how to turn it off.  Make sure the front door does not stick and the lock works smoothly.
  • Have AREG come in a help you stage your home.  This is a service that comes with the AREG listing package.  The only part you pay for is the renting of furniture if it is needed to augment your furniture.  This is different than decorating a place to live in.  This is to help highlight your houses features.  
  • Allow time for setting up the listing. AREG will also put the key box on, take professional photographs, put up the sign, and custom rider.   This can take 2-3 days as the house may need to be photographed in various different times of the day. All photos will be High Definition with descriptions. A customized 1-800# rider with be added to the sign so buyers have 24/7 access to house details without bothering you.
  • Work with your broker to determine a selling price. For details go to How to Price Your Home to Sell.
  • Print and Fill out the Listing Input Sheet and provide to your broker.
  • Decide when you will let your home be shown.  Showing times; need to be as convenient and easy as possible.  You rarely get a 2nd chance with a buyer so take advantage of them.  And if you need notice, keep it as short as possible. 
  • Be prepared to leave the premises. Have some places where you can hang out for a while.  Unless an agent is doing a preview, you should always leave so a buyer can picture themselves moving in.  
  • Pets should be taken with you or put into crates.  I know, Fluffy wouldn’t hurt a fly, but what if the buyer is allergic to Fluffy, or scared…it is not a gamble you should make with such an important transaction.
  • Only if you are selling a rental property. Showing with a tenant in the property is the trickiest situation of all.  So much can and does go wrong with all but the rare fabulous tenants.  If they are neat and tidy anyway, then a little decrease in their rent will often motivate them to cooperate.  If they are messy or mad at you for selling…better to give them notice.
  • If you haven’t already, Start to separate yourself from your home.  Think about the new adventure of moving someplace different.
  • Dive in with gusto planning your move you will be moving in 30-60 days. If you want moving referrals let AREG know. 
  • Field Offers.  This is what you have been waiting for.  We will take you through it step by step.  Remember, the Real Estate Market can be quick moving and a Comparable Market Analysis changes as houses sell and the economy does it’s thing.  In the end, the market determines the price.  These two articles will assist in the process Choosing the Best Offer & 6 Reasons to Reduce Your Home Price
  • Negotiation is part of the process.  Depending on what is going on this can vary. Here are two very normal processes;

                       Process 1                                          

            1. Offer review and response                                          

            2. If accept offer as is, Sign and return                   

            3. Mutual Acceptance and move to                         

            4. Inspection                                                           

            5. Inspection response accepted as is*      

                * If inspection yields work that is needed, we would negotiate that first,

                   then sign it around and go into Mutual          

            6. Mutual and proceed to other Contingencies      

            7. Septic, Finance, Title are most common             

            8.Closing                                                                

                                                                           

                      Process 2 

            1. Offer review and response

            2. Or reply with counter on price or/and terms

            3. Counteroffer is sent to Buyer

            4. Counter offer is accepted and signed

            5. Mutual Acceptance and proceed to Inspection 

            6. Inspection Response accepted as is*

                * If inspection yields work that is needed, we would negotiate that first,

                  then sign it around and go back into Mutual

            7. Mutual and proceed to other contingencies

            8. Septic, Finance, Title are most common

            9. Closing

 

  • The standard closing time is 30 days.  This can be affected by the Buyer’s lender close time and by the time it takes for you to move.  This is part of the negotiation and is negotiated during the first phase but can also be changed if necessary.  Note that once in Mutual Agreement, Asking to change anything can jeopardize the contract.  It must be done very carefully.
  • The movers, friends, family ascend on you and you move.
  • You go back and do a move out clean, or you hire a cleaning crew to prepare the house for the new buyers.  
  • You see your Proceeds in your bank account.
  • Usually, you use those proceeds to close on your new house. Knowing that moving is emotional is the first step to dealing with this very human emotion of attachment.  I find it helps to find your next home sooner than later.  It is easier to disconnect when you have a place to re- connect to

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