What’s Your Intention?
- Is it because of a job relocation?
- Do you want to down size?
- Do you want a bigger home?
- Are you having a tough time making your mortgage payment?
- Do you want to cash out and just see where the market goes?
It’s important that you build the foundation of this process with what your intention and reason is for selling your home.
This step must be accomplished before moving forward because, essentially, the majority of the decisions made with reflect your intention and reason for selling.
What is the listing price going to be?
This step is crucial in selling your home for the most amount this market will allow and in the quickest amount of time. As your real estate source, we will carefully analyze your property in comparison to the local market. We will review the comparable properties that have recently sold, the properties that are currently under contract, and the properties that your home will be in direct competition with. Also, we will take into consideration the condition of your home and everything that it has to offer a potential buyer.
As the seller you have the right to order an appraisal upfront, before the property goes onto the market, and the cost is between $300-$550. This will give the most accurate current market value of your home. By doing all of the research prior to placing it on the market, you as a homeowner will know exactly what the value of your home is in today’s market. So remember that if you over price your home, this could delay and potentially ruin your plan and over all intention.
How can I best prepare my home?
- Make sure that you minimize any clutter
- Put away any personal photos in the home so that the focus of a buyer is on the property
- If it’s not already done, paint the walls with neutral colors
- Make sure the property is clean all the time
- Turn on all lights prior to the arrival of a potential buyer
- Have a list of the “Features” attached to the property flyer
Making sure that your home shows the absolute best it can is a huge factor in maximizing what you can get for it. Here are some tips on getting it ready for selling condition:
How will my property be marketed?
- Google (SEO AND SEM Marketing)
It’s a national and local statistic that over 92% of real estate consumers go to the Internet first when searching for anything regarding local real estate. With this being said, I market all over the world wide web and here are a few of the following sources and methods:
This website generates over 200-300 unique visitors daily(these are brand new visitors that have never been on my site). This is over 6,000-9,000 real estate consumers per month that are in search of properties in Orange County alone. Also along with this we will hold open houses, broker open houses, market to over 250 agents in our office alone, market to the top agents in Orange County (who we are doing business with daily), and much more.
What happens when we receive an offer?
- Spelling of the names of all parties involved
- Offer price
- Down payment
- Financing arrangements
- List of fees and who will pay them
- Deposit amount
- Inspection rights and possible repair allowances
- Method of conveying the title and who will handle the closing
- Appliances and furnishings that will stay with the home
- Closing date
- Contingencies and removal of them
Once we receive an offer from a qualified buyer, we as a team will review every aspect of the offer including but not limited to:
How will we negotiate?
- Closing costs
- What’s included
- Credit for any upgrades
- Occupancy time frame
The majority of the offers you will receive will not be perfect the first time you see them. So it is important to thoroughly understand every aspect of it, and counter offer some of the following items:
Remember what your intention and reason for selling this property are. This will help you and us negotiate a win win deal for you and the potential buyer. Once both the buyer and seller have mutually agreed on all terms, then the offer will be executed and prepared to be sent to escrow.
Once we have an accepted offer, then what?
Once you accept an offer to sell your house you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Depending on the specifics reached during the negotiations, you may pay for all, some or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home, the terms set forth in the contract will dictate your next step. Depending on the contract, you or the buyer may decide to walk away, open a new round of negotiations or close.
What will happen when we are close to closing?
A few days before the closing we will contact the escrow company that is closing the transaction and make sure the necessary documents are going to be ready to sign on the appropriate date. It would be a shame to get this close to selling and have the deal fall through because of missing forms. Begin to make arrangements for your upcoming move if you have not done so. Let us know if you need any of our resources to assist you with your move.
We are closing escrow today, how will the day look?
As the seller, you will need to be prepared to hand over any necessary documentation regarding the property and, depending on the arrangements made during negotiations; you may be required to have completed any repairs prior to closing.
If the buyer is getting a mortgage, then typically this is the day the mortgage will fund and escrow will receive all the funds to officially close this transaction. In Orange County, title can “special record”, meaning that the legal transfer of ownership can occur on the same day the mortgage is funded. This usually happens between 4:00pm-5:00pm Monday – Friday (excluding holidays). Once this happens the buyer is the new official owner of your property.
What happens after the closing of escrow?
You collect your check!!
Now that you have closed, prepare to vacate your home in the time frame agreed upon. You should make a list of all the items you will need to do to turn the property over to the new owners. For example, make sure to cancel electricity, gas, lawn care, cable, etc., or if the new owner is going to retain some of the services, change the name on the account. The home and all items specified by the contract should be prepared appropriately for the new owners.