Showings, Negotiations And Now It’s SOLD!
You are now ready for the next phase of the sale process. Already so much has happened … packing, cleaning, photos, and video. All of that has led to the opening of your doors and inviting Buyers in.
By now the listing documents have been signed and together we have developed a marketing plan. The sign is in the yard, and the word is out. Now the time has come for the showings to start.
But first, ARE YOU READY? Do you have a plan for getting everyone out of the house? Having a strategy for getting everything organized and every one out of the house quickly will east the tension and allow you to accept those last minute showing requests. Somedays you may not feel like letting them in, however, ideally, you want to take advantage of EVERY Buyer who shows interest and wants to tour the property in person. Preparing your children, your pets and yourself before the showings begin will allow you to stay calm and focused throughout the process.
It is important to remember:
- Make your property easy to show. Be open to last-minute showings. Buyers want to look when it’s convenient for them.
- Ensure your house is neat and clean. Beds made, sinks clear from dishes, and daily clutter removed.
- If possible, remove your pets. You can take them for a walk, or to a local pet sitting service or kennel.
- Find a place to go during the showing such as a park or shopping mall. Buyers are more comfortable if they can view the property without you there.
- Ensure the walkway leading up to your house is clear.
The Offer and Negotiations
Your vibrant listing has led to an offer. Yay! Now what?
When selling your house, there are few things more exciting than receiving an offer. That means someone is interested in your property and has prepared a formal offer to buy it.
What is an offer, exactly?
It is simply a legal document that shows the price the buyer is proposing to pay, which may or may not be the same as your listing price. An offer will include other details, such as the requested closing date, and may also include one or more conditions, such as “contingent on the property passing a home inspection.”
Typically the Buyers Agent will ask to present the offer to you in person or send the offer to me for presenting. Either way will result in you and I reviewing the offer and discussing the financial aspects of the offer. If the offer is not acceptable to you, we simply draft a counter offer and deliver it to the Selling Agent.
I realize this may sound complicated. Don’t worry. As your real estate professional, I WILL take care of all the details. For example, I will:
- Review the offer with you and explain everything clearly.
- Give you my professional assessment as to the quality of the offer. If there are things that concern me, I’ll point them out to you.
- Advise you on whether to accept the offer, reject the offer, or make a counter-offer.
- Prepare a counter-offer, if necessary, that gets you a better deal, without risking the sale slipping through your fingers.
- Skillfully negotiate with the Buyer on your behalf, so you sell your house for the highest price possible.
- Prepare all the necessary documents, and work closely with the Buyer and his or her agent, to make sure the transaction goes smoothly.
- Communicate with you throughout the entire process. You are never in the dark when you work with me.
Selling your house for the best price possible is my expertise, especially in our local market.
Once the Buyer and Seller are satisfied with the terms of the offer and sign the document, you have a contract. This is now a legal document binding for both parties. This is when the review process begins.
The Review Process consists of two main factors. If either factor fails the review process, the sale will not move forward.
- The Property
- The Buyers
The first part of the Property review process is called “Inspections”. It is the Buyers full duty to inspect the house to ensure that it is in acceptable condition. Any item found to be “unacceptable” is addressed in an “Addendum”. The Addendum to the contract is submitted in the same way the original offer was presented. Either the Selling Agent will present it directly to the Seller, or they will send to me and I will present to you.
Each item on the addendum is discussed and addressed from the financial aspect. You can accept the Buyers request, reject the Buyers request, or you can counter the Buyers request. Ultimately you want to come to an agreement with the Buyers and move forward with the sale of the home.
The second part of the property review process is called “Appraisal”. After the mortgage meltdown of 2008, the lender/appraiser relationship changed. No longer is the lender, or Buyer, allowed to hand-pick an appraiser. In today’s mortgage world, this process must be conducted at arms’ length in order for the report to be fair and unbiased.
All appointments to review the home will come to me and you the Seller will have the opportunity to approve the time when they are requested to occur.
The third part of the review process is the Buyers Underwriting. This is done to ensure the Buyer has the means and meet the criteria required to obtain the loan. Once the step is finalized for the Buyer, they will receive a “clear to close” which is wonderful news for you the Seller.
On to Closing
There are few things I enjoy more than telling a client, “Your house is sold.” That means I have found them a qualified buyer and negotiated a great deal. It doesn’t mean my work is finished. Far from it.
I’ll also be there for you, as your real estate expert, up to the day you move – and beyond. I provide you with the names of recommended lawyers, contractors, movers, etc. from my network of reputable professionals and companies. I’ll also clearly explain what to expect leading up to closing day and give you advice as to how to prepare.
My goal is simple: To make your house sale and move a positive experience.
Closing the transaction is the final step. “Closing” refers to a meeting of the individuals involved (Seller, Sellers’ Agent, Buyers, Buyers’ Agent, Buyers Mortgage Lender and Attorney entrusted to process the documents), and the sale documents are signed. This is often called the Transfer of Keys.
What to bring to closing:
- Valid photo ID/drivers license
- House keys for every lock
- Garage door opener/s
- Knowledge of various service providers (trash, recycling, etc.) and their weekly schedule.
Want to learn more about how I can help you sell your property, for a top price, while making the process easy for you? Please submit the form below or call or email me to schedule a no-obligation Personal Consultation.