Step by Step to Selling a Home
Are you ready to sell your home? Although the process may seem scary and confusing, I will map out exactly what this process includes with a step by step guide to selling a home...
Step 1: Choose the realtor that you would like to work with. Building a solid relationship is very important, you will be working closely with your realtor throughout the entire process, and want to ensure that they will take the proper steps to marketing your home.
Step 2: Meet with your realtor, and go over the comparative market analysis he/she has provided you. Decide on a listing price, and terms of the agreement, and sign listing paperwork.
Step 3: Your realtor will gather all the little details about your home, and will send a professional photographer out to take beautiful pictures of your home, to truly show buyers how special it really is.
Step 4: Your realtor will then put your home on the market. Be prepared to show your home at all times, you never know when someone is going to call and want to see it. (See the Important Information tab above for more information on this topic.)
Step 5: Once offers start to come in, depending on the market, your realtor will present the offers at hand, and you can either make a decision to accept, counter, or reject the offer(s). Once mutual agreement has occurred between you and a buyer, your realtor will open escrow.
Step 6: Now that escrow has been opened, (it is customary for the seller/sellers agent to chose the escrow and title companies) the buyers contingency period has began, in which they will need to complete the following;
- Surrender their earnest money deposit
- Obtain a home inspection report
- Obtain a termite report
- Obtain an appraisal report
- Obtain loan approval
- Review & approve your transfer disclosure statement
- Review & approve the preliminary report
Step 7: Now that the contingency period has ended, we are on the home stretch. Your escrow officer will arrange an appointment for you to meet with a notary to sign over your deed to the property.
Step 8: At the close of escrow, your lender and escrow officer will ensure all needs have been met, and all aspects of the contract have been fulfilled, in which the buyer's lender will fund their loan. Once funding has taken place, your title company will file with the county to record the change in ownership.
Step 9: From here, escrow will use the funds received, and disburse them accordingly. This includes; payoff of your existing loan, closing costs, commission costs, and any escrow fees.
Step 10: You have officially sold your home, and may now receive your check from escrow for the equity profits you have earned on your home.