So are you thinking about selling your home here in Central Florida? And you’re perhaps thinking of doing it all by yourself, without an agent? This is not a good idea!
What might be a good example of how the process should work? See below:
1. You may speak with us at Guzman Group for professional advice on selling your home. After all, selling your home is a big decision. You need to make sure that you get the best advice to help you with selling, what is for most people, their largest asset.
2. Set a Price – Pricing your home is a blend of science and art! We have access to the most up to date and current market data. We will consider recent sales in your neighborhood, current inventory demands, prevailing market trends — all in an effort to get your home sold quickly, and for the most money! It is important to remember that if your home is priced too high, you may not garner as much interest. If you price too low, you might not get maximum value and return on your investment. Pricing your home just right will create interest and demand for people to look at your property.
3. Listing Agreement – Once you have decided on the price (as well as other details of the sale), a listing agreement is signed. It includes a beginning and termination date of the agreement, the price of the property, what personal items are included within the sale of the home (furniture etc), as well as the compensation to the real estate broker. Please ask your agent if you are unsure about any details of this agreement. We pride ourselves on taking all the time necessary to ensure our client’s are needs are met and their expectations exceeded.
4. Home Inspection – Many of our clients wonder why it is a good idea for a seller to have a home inspection prior to listing the time. After, the buyer and their lender will commission one anyway. To answer that concern directly, we feel it is best to know ahead of time what issues may be discovered during the buyer’s inspection. By planning ahead in this manner, you as the seller will be in better shape to combat any objections regarding possible repairs, price, or any other obstacle that may arise as a result of the inspection. In addition, should you decided to invest in resolving the issues, you are on your own budget and time table, not the buyer’s.
5. “Showing Your Home” – This can be the fun part for those who enjoy playing interior designer! It can be difficult to sell a home full of clutter or disorganized items; staging your home is a great way of ensuring that it is shown in it’s best light. For example, one excellent method of staging a home is to minimize the amount of personal items displayed (photographs, mail, etc) in the property. Research has indicated this allows potential buyers to see themselves living there, as opposed to viewing the property solely as a visitor. Making changes in this regard can create curb appeal for your home, which is critical to the selling process.
6. Receiving offers from potential buyers – Receiving offers on your home can be exciting! You have the options to accept the offer, reject it, or suggest changes and send it back to the buyer. The buyer can then accept your counter offer, reject it, or come back with another counter offer. This process can continue until both parties reach an agreement, or conversely, decide to call off any deal. Each offer will come with an irrevocable date by which the other party must agree to terms; during this time, our agents can help advise you with the negotiating process. Once agreed, buyers will then likely order their home inspection immediately, as sales contracts typically are contingent on inspection. No reason to worry, however, as you were no doubt a pro-active seller, and already performed one yourself ahead of time!
7. Appraisal – This report is commissioned by the buyer’s lender, for the benefit of both the buyer and lender, in an effort to ensure the purchase price accurately reflects the value of the property. Most appraisals are usually not an issue, however if there is problem, there are four options – a) the buyer purchases at the contracted price and makes up the difference with a larger down payment. b) the buyer purchases the home somewhere in between the appraised price and the contract price. c) the buyer purchases at the appraised price d) the contract is cancelled by the parties and the home is put back active to the market.
8. Final Walk Through & Closing – Once the paperwork is done, the buyer undertakes a final walk through of the home before closing. This is so that the buyer can make sure that the home is in the same, or better state of repair, than when the contract was agreed upon, as well as to ensure that all items that were conveyed in the sale are still present. Typically, the walk through is undertaken the day of, or the day before, the actual closing
Closing itself is the final step of the process. All parties will typically meet at the previously determined Title Company or Attorney’s office to sign all paperwork. This can include the deed, closing papers, and loan related documents. The closing representative will explain all the documents prior to them being signed. After all items are signed, a check is given to the seller for the proceeds on the sale and the property is conveyed to the new home owner.
Throughout the entire process, we will be with you to answer any questions and provide our professional advice.