WHAT TO EXPECT WHEN SELLING YOUR HOME
Unless you’re the rare home owner who gets multiple offers above the asking price days after listing, the sales process can be emotionally challenging.
Here is what to expect once you sign a listing agreement…
Listings, Lockbox, and Signs
We will place your home in the local Multiple Listing Service (MLS). This notifies all other agents in the area that your home is for sale. Your house will also appear on Zillow.com, realtor.com, Trulia.com and many other websites that pull from our MLS.
A For Sale sign will be put in the yard and lockbox attached to your house. Soon, a for-sale sign will appear in the yard and a electronic lockbox will be attached to your house. This lets us know who and when someone has entered your home.
We will hold an open house as soon as possible. Traditionally held on Saturday or Sunday.
Nosey Neighbor open house. In some neighborhoods where homes are custom or different this will draw in those neighbors who are curious and help promote your home.
A brokers’ open house may be scheduled during the work week, so that area agents with clients looking to buy can see the property.
It is best if you are not present during open houses, because buyers want the freedom to look in closets and make comments without offending the seller.
Many sellers incorrectly think that multiple open houses are needed to sell a house. In fact, few homes are sold at open houses, but there are many good reasons to have one for the public and another for agents.
You should get the most traffic in the first two to three weeks after your house is listed. Anyone looking for a house like yours will want to see it. Don’t fret when the traffic dies down.
The average days on market (DOM) differs with price and the market. Any offers, even those you consider “lowball” are a chance to begin negotiating and a possible sale.
Keeping it Neat & Clean
Keeping your house in tip-top shape, especially if you have kids and pets, is one of the more difficult parts of selling your home. But remember: Buyers will walk into your house and try to picture living there. Most people don’t have the vision to look past toys scattered throughout the house, dishes in the sink or pet food spilled on the floor. It doesn’t matter that they probably live the same way.
After Accepting a Offer
- Buyers will schedule to have home inspections done. Usually 7 – 10 days after acceptance depending on what was agreed upon.
- Once the buyers are satisfied with the home inspection an appraisal will be ordered through the lender. It usually takes the appraiser 30 – 60 minutes to appraise the property and 7-14 days to get it back to the lender. You will normally not know the results unless it came back lower than the purchase price or repairs are being required. At this point you can negotiate the price and make any repairs as soon as possible.
- Home Warranties will be ordered if agreed upon in the contract
- Time to start packing and calling to transfer utilities out of your name
- Title company will be contacting you to sign all required documents to transfer the deed to the buyer and pay off any existing mortgages or liens on the property.