PROPERTY SEARCH ABOUT US CONTACT HOME BUYING SELLING HERITAGE HOME REALTY Karen LaBar Baucum over 1,500 homes sold 30 years of experience you can count on DRE#00642806 OFFICE: (760) 931-9398
 
Karen LaBar Baucum
                          Owner/Broker •  Home to buy smart •  Home selling path from A to Z •  Top 10 home showing tips •  Home selling mistakes
 
Heritage Home Realty • Karen LaBar Baucum (Owner / Broker)  • Office/Fax: (760) 931-9398
Home Selling Path A to Z
The Complete Home Selling Process
By Elizabeth Weintraub,  About.com
 
Whether you are selling for sale by owner as a FSBO or hiring a listing agent, the home selling process is identical. It may vary slightly from state to state, but since California tends to set the standard for much of the country, this format will address how homes are sold in California.
The main differences for you may be whether you hire a real estate lawyer and whether buyers submit intent offers prior to executing a  purchase contract, but the basic procedures remain the same.
Here are the steps for selling a home:
 
1) Choose a Listing Agent
• A listing agent will represent you and have a fiduciary responsibility to look out for your best interests.
•  Interview agents and meet with at least three neighborhood specialists.
•    Negotiate your listing agreement, including term.
 
2) Get Home Ready for Sale
• Prepare your home for sale by cleaning, decluttering and improving
improving curb appeal.
•    Hire a professional stager to stage your home or ask your real estate
agent for help in staging.
•    Make repairs before selling.
• Protect your privacy while your home is on the market.
•    If you're selling a home where pets live, make alternate plans for your pets.
 
3) Figure Out How Much Your Home is Worth
• A sellers biggest mistake is to overprice.
•    Price your home in line with sold homes identified in a estate
comparative market analysis report.
•    Consider whether your market is hot, cold or neutral, and price
according to the market temperature.
 
4) Market Your Home
• You or your agent should identify the sizzling selling points and choose advertising words to sell.
• Approve your agent's marketing campaign or figure out how to advertise your house for sale yourself.
•    Follow the top 10 home marketing tips for selling your home.
•    Hire a virtual tour company to take quality photographs and put a 360
degree virtual tour online.
•    Tweak marketing to increase traffic and showings.
• Post internet listings online. Your agent or you should saturate the
internet with photographs and description of your home.
 
5) Show Your Home
• If you're wondering about lockbox vs. appointments, you'll get more showings if you let agents use a lockbox.
• Your home will show better if you are selling in spring than selling in
winter.
• Selling during the holidays will likely result in a lower sales price,
regardless of what agents tell you.
•    Follow the top 10 home showing tips. You've got only one chance -- and
sometimes only 3 seconds -- to make a good first impression.
• Prepare for an open house and use the approach sparingly.
•    Ask for buyer feedback so you can adjust your price, condition or
marketing campaigns accordingly.
 
6) Receive Purchase Offers and Negotiate
•    Make certain that buyers use the right form for writing a purchase offer.
•    Even if you receive a lowball offer negotiate by issuing a counter offer.
Don't ignore offers.
• Ask for a kick-out clause or first right of refusal if the buyer's offer is
contingent on selling a home.
• Consider making a counter offer contingent on buying a home, if market
conditions warrant.
• Don't be afraid to make a full-price counter offer, if you are priced
competitively.
•    If you are priced right, prepare yourself for multiple offers.
 
7) Open Escrow / Order Title
•    Your agent or transaction coordinator will open escrow and order a title
policy.
• Write down the contact information for the closing agent.
•    Select a date to close based on when the buyer's loan will fund.
•    Ask for a receipt for the buyer's earnest money deposit.
 
8) Schedule Appraiser Appointment
•    Clean the house the day before the appraiser arrives.
•    If you receive a low appraisal, ask your agent about alternatives.
•    You are not entitled to receive a copy of the appraisal because you did
not pay for it.
•    If the buyer decides to cancel the contract based on an appraisal, ask
your agent or lawyer about your rights.
 
9) Cooperate with Home Inspection
•    Ask your agent to provide you with a home inspection checklist so you
will know which items an inspector will want to see.
•    Expect that the inspector will want access for an attic inspection  and will
look for a wet basement; prepare those areas for inspection.
•    Prepare as well for the final walk-through inspection.
 
10) Obtain Seller-Required Inspection
•    If your contract calls for a roof certification, hire a reputable company to
conduct the inspection.
•    States that allow for termite / pest inpections make these reports public
records.
•    The fees for all inspection reports, even if seller-mandated, are
negotiable.
•    If your home was built before 1950, a sewer inspection might call for a
new sewer line, but trenchless sewers are less expensive to install.
 
11) Delivery Seller Disclosures
•    All homes in the US are subject to lead based paint disclosures.
•    If you are aware of material facts, disclose them.
•    Your title company should provide CC&Rs, but if you belong to a
homeowner association, additional documentation will be required.
 
12) Negotiate Request for Repair
•    Ordinarily, sellers do not need to accept a buyer's request for repair;
however, buyers can generally then cancel.
•    You are entitled to a copy of the home inspection report, if the buyers
request repairs.
•    If you do not choose to make repairs, a buyer might instead accept a
closing cost credit.
 
13) Ask Buyer to Release Contingencies
•    In California, for example, contracts default to 17 days, at which time,
the buyer must release contingencies.
•    If you don’t demand a release, buyers are not obligated to provide it.
•    If buyers do not provide a release, in CA, sellers have the right to
cancel.
 
14) Sign Title / Escrow Documents
• In southern California, you will sign escrow documents shortly after opening escrow.
• In northern California, you will sign escrow documents near closing.
•    Bring a valid picture ID.
 
15) Close Escrow
•    Your property deed, reconveyance and dead of trust will record in the
public records.
•    Title will notify you and your agent when it records.
•    Depending on buyer’s possession rights specified in the contract, you may be required to move on the day it closes.