Welcome to the exciting journey of selling your home! To ensure we navigate the selling process with confidence, let’s explore a Step-by-Step Guide to Selling Your Home:
Step 1: Preparing Your Home for the Marketing Team
Before we showcase your home to potential buyers, it’s crucial to put our best foot forward. Declutter, deep clean, and create an inviting yet neutral atmosphere that appeals to a wide audience.
I’ll coordinate with our professional photographer and videographer to capture high-quality images that showcase your home’s unique features leaving a lasting first impression.
Step 2: Offers and Contracts
Once we start receiving offers, we will review each offer together. We’ll look at the earnest money, loan timeline (if applicable), closing date, and closing costs. Typically, we will have 24 hours to respond. After selecting the winning offer, we’ll sign the agreement and officially be under contract!
Step 3: Contingencies
Buyers often have contingencies in their offers to protect their own interests. The most common contingencies we may encounter are:
- Inspection Contingency: This contingency protects the buyer’s interests by giving them the opportunity to identify any potential issues or defects with the property before proceeding with the purchase.
- Financing Contingency: A financing contingency is a clause in a home purchase offer that protects the buyer by making the offer contingent on their ability to secure financing for the property.
- Appraisal Contingency: Appraisal Contingency is a clause in that protects the buyer’s interests by allowing them to back out or renegotiate the price if the property’s appraised value comes in lower than the agreed-upon purchase price.
Step 4: Buyer Responsibilities
Buyers have specific responsibilities and deadlines throughout the process. They will need to complete their loan application usually within five days, have inspections (typically lasting 7-10 days), order the appraisal and await loan approval (which usually takes around 24 days). Always refer to the purchase agreement for exact specifics.
My transaction coordinator and I will keep a close eye on the Buyers timeline and standings keeping you informed throughout our selling journey.
Step 5: Title Company/Attorney
The title company/attorney plays a vital role in the selling process. They conduct searches for any open liens, collect funds, verify HOA fees, calculate closing costs, and facilitate the signing of all closing documents.
Step 6: Final Walkthrough
The final walkthrough (typically scheduled within 24 hours of closing), ensures that the property is in the agreed-upon condition. It’s essential to have utilities turned on and the property clear of trash. The buyer will verify that everything specified in the purchase agreement such as appliances and fixtures are in place.
Step 7: Closing Day – CONGRATULATIONS!
Closing is the final step of the home selling process. The title company will oversee the distribution of funds and all parties will sign necessary documents. Don’t forget to bring house keys, passes, mailbox keys and any relevant information for the new owner. Once all documents are signed and funds distributed the sale is complete!
I hope this step-by-step guide has provided you with valuable insights into the home selling process. I’ll be with you every step of the way making this experience as smooth and rewarding as possible!
Curious about your home value? Find out more below or text “Champion” to 41024 to capture your value today.
