If you’re in the market to sell, it’s probably time to clean house. Literally. Selling a home requires preparation, patience, and in most cases, good-old-fashioned elbow grease. From list to closing, we’ll walk you through the most important steps and terminology.
The job of a full-service real estate salesperson/agent is to represent your best interests through every step of the sales process. Your agent should listen to your needs and understand the market in which you are selling a home. They should be experts in marketing, negotiation, transaction forms, and finance options, as well as have an understanding of technology and how it can enhance the marketing of your home. The experienced ML Property Sales Team not only makes themselves readily available and easy accessible to a seller’s questions and needs, but will show your home to prospective buyers at any time (so long as its convenient for you).
Determining the right price is hands-down the most important part of achieving the highest return in the least amount of time. There are a lot of factors that go into determining a home’s market value, such as the sales price of nearby homes that have recently sold, the listing price of similar homes that are currently on the market, as well as the condition and location of a home. In order to determine pricing, Matt or one of his team agents will provide a comparable market analysis which walks you through what your home is worth – and why. It’s also important to remember that just because that home down the block may be listed at a specific price point, it does not mean that it is the correct price point for that type of home. This is where our expertise plays heavily in pricing your home properly to be attractive to the public.
The Prep Work
First impressions are key when selling a home, so before the ‘for sale’ sign goes up, put in the time to make sure it’s in as best shape as possible. Simple things such as fresh paint, clean closets, minor landscaping and even pleasant interior smells can go a long way with potential buyers – there’s really a lot you can do to make even the most humble of abodes look like a million bucks. Check out our Get Ready To Sell checklist for a list of ideas and tips.
Marketing Your Home
We will create a plan to market your home that will help attract the interest of the right buyer. Today, the vast majority of home buyers use the internet in their home search, so your marketing plan will include focused online activities, in addition to print advertising and open houses.
Home Showings & Open Houses
Showings are an inconvenient, yet necessary part of the home selling process. When your home is on the market it has the potential to be shown at any time, so it’s important to maintain a certain level of cleanliness; clear dishes from the sink, make beds, put away dirty laundry, and vacuum and dust regularly. While not necessary, if your ML Property Sales agent is showing the home or present for another agent’s showing, it could be in your best interest to clear out for a short time.
When it comes to open houses, you’ll definitely want to plan for a few hours out of the house. Your agent will be there the entire time and keeping a watchful eye on your home and your possessions; so even with a busy open house, there’s no need to worry. Additionally, while not always a standard practice for many other agents, Matt and his team make it a point to ensure every guest is greeted at your front door and personally walked to the guest registration form. From there, we walk buyers through your home as to not only ensure any and all questions are answered, but that everything remains where it should be. Depending on the size of the home, we will sometimes equip the open houses with portable surveillance systems so that there is always “someone watching.”
Offer Presentation and Sales Agreement
Once an offer on a property has been made by a buyer and accepted by the seller, the race to the closing table will begin. However, prior to acceptance, all prospective buyers are properly vetted by our team. Offers will only be considered when the ability to actually purchase your home is provided with it. For mortgages, we are firm about receiving a mortgage pre-approval to ensure that the buyer is both serious and eligible for an actual mortgage. For cash buyers, we require financial documentation and other proof of funds. All offers and documentation will be reviewed with you and together we will determine the strongest and best offer for your home. Once we are all comfortable, we will notify the buyer of your acceptance and proceed to having contracts written up for the sale of your home. Matt or any of his team members can happily connect you with one of our trusted attorneys!
Whether you’re a buyer or a seller, negotiation is the key to getting the best deal. Negotiations can involve everything from settling on a sales price to concessions and financing. ML Property Sales agents are expert negotiators whose job it is to represent your interests during the give and take of a real estate transaction.
Inspection and Escrow
Once a buyer and seller reach mutual acceptance on a property, a home inspector is hired to investigate every nook and cranny to determine if the home is in need of any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
Your agent will ensure that the buyer schedules his or her home inspection in a reasonable amount of time and that they get to their attorney as quickly as possible with their deposit so that your home can be placed into contract. It is out job to recognize potential problems or delays on a buyer’s behalf that could threaten the sale of your home or result in the loss of other prospective buyers. The ML Property Sales Team has an excellent record of monitoring and resolving potential deal problems.
Tracking the progress of a transaction is possibly one of the most important facets of the sale of a home. All too many agents have failed in this industry due to…well…sheer laziness. Whether representing a seller or a buyer, they feel once a deal has been negotiated all that remains is meeting their client at the closing table some time later. FALSE! As you’ve probably already read elsewhere on our website, there are many things that can go wrong from contract signing to close, and it is the experience and expertise of our team that prevent such things from happening.
We closely monitor every step of the home’s sale and keep in touch with all parties involved including lenders, attorneys, or anyone else who could cause a hiccup in the sale of your home. We in turn keep you abreast of all details of the sale. Rest assured, the sale of you home will be as stress free as possible with Matt or any one of his ML Property Sales agents.
At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded. This is also where you’ll be handing over the keys to the new owners. Prior to closing, you’ll receive a settlement statement outlining any fees which may apply to you.
Also expect a home walk through by the buyers before that closing takes place; this can occur even hours before. Its important to leave your home in good condition and at least broom swept; try not to leave garbage on the curb either especially if it could result in fines. Anything that is damaged or missing will most likely be documented by the buyers and the buying agent and will result in further negotiations at the closing table (sometimes this could be credits back to the buyer or funds left in escrow until the problem or problems are rectified). Do yourself a favor and leave your home in the condition that you would expect to receive it in – it will only make things simpler and help your closing to wrap up quicker!