You have gained the experience in buying a home, and now it's time to sell. You may be ready to upgrade to a larger home, maybe you need to downsize, or maybe you need to relocate to another area. Whatever your situation, we are here to help you through that emotional process. Below maps out a brief overview of the home selling process.
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Begin making any repairs
If you know there are repairs that are needed to your home, it is best to have them completed prior to putting it on the market. This will help in our negotiating during the due diligence period. We always need to keep in mind that the buyer can back out for any reason during the due diligence period. By completing repairs prior to putting the home on the market, it gives less reason for the buyer to back out of the sale. |
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Staging your home
When selling your home, you want to put its best foot forward. Did you know 47% of REALTOR®s feel that staging will get your home sold sooner? And to do that we want to keep it de-cluttered and staged. It is recommended to have a professional stager but there are times when the owner can do it on their own. The important thing to remember is the key is to remove many, if not ALL personal items from the home. This is where the phrase "a little goes a long way" comes into play. Staging allows the home to be clutter free and allows the buyer to picture themselves and their belongings in the home. When de-cluttering and staging your home, also ensure that all valuables are removed from the property. The buyers are with their REALTOR®s at all times, but leaving valuables out during showings is a liability. Renting a storage unit is a good idea if you have a lot of extra furniture and belongings.
Staging also includes your landscaping and curb appeal. The outside of the home is the first thing that the buyer will see, not only when the pull up to the home, but as the first picture in any advertising. Make their first impression catch their attention in a good way! |
Listing your Home
Its time to officially put your home on the market for all to see! This can often be a stressful time for home owners because the few days, and sometimes weeks, of the home being listed is the busiest time for home showings. This requires the family to not only keep the home spic and span at all times, but also be free to leave the home at any time throughout the day. Many time homes are shown between 8am and 8pm. This could pose as an inconvenience to the homeowners if they have small children, or work from home. There are times when a buyer and their REALTOR® is outside of the home wanting to view it immediately. So, make sure that you are prepared for this personal inconvenience. This will also be the time your REALTOR® hosts an open house if you decide on one. During showings and during an open house you want to also make sure that your pets are put away or removed from the property. Pets can put a negative light on the property if a buyer if allergic or afraid.
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Due Diligence Period
Once you have decided to accept an offer, you have now entered the due diligence period of the closing process. This is time in which the buyer has bought from you to keep the home off of the market while they perform their "due diligence" on the home. This is the time where the buyers will need availability into your home to have a home inspection, pest inspection, septic inspection, review covenants, property survey, and appraisal. After their inspections they are able to come back with a repair request on their findings. The seller the has the choice to make some or all of the repair requests or not. If none of the buyers requests are made they are able to walk away at any time during this period and only have to forfeit their due diligence money. However, once this period has expired, the buyer is now bound by all agreements in the contract.
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The Waiting Game
Once the due diligence period is over, it will seem like a waiting game. But just because it is fairly quiet this is the time to ensure that your getting packed and ensuring that the movers are confirmed. There will also be various activities behind the scenes that will be taking place between the buyer and their lender and REALTOR®. Your lender will be preparing your payoff and you will be signing your deed. Your realtor is ensuring that the lender and attorney are all on schedule and ensure that any hiccups are handled. An average closing period, beginning when the contract has been accepted to the closing date can vary between 30 - 60 days. Once your closing period is up, it's time to move out and move into your new home!
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Time to Close!
Once your Due Diligence period has passed, all loan documents have been completed and underwritten and all title searches have been completed, it is time to close. This will happen within about 30-45 days from contract acceptance. Your attorney and REALTOR® will be with you at closing. During your closing appointment you will sign the deed and deliver the keys to your REALTOR®. You will not receive your settlement funds quite yet. The newly signed deed must be recorded first and checks must be cut. In some instances it may take three to five business days. At this point you are ready to move into your new home!
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