The Home Selling Process

First, we get together to discuss what is important:

• Your time frame.

• What needs to be done to sell the home at the best possible price.

• Pricing itself: I prepare a comparative market analysis based on the condition go the home and recent comparable sales. Then I make a pricing suggestion and the seller makes the final decision at which price to list the home. 

• We will also discuss the costs of listing a home, the cost of overpricing, and how much you can get out of the sale at certain price points.

• I also present a marketing plan.

• We will sign a listing agreement. 

 

Once we decided on a plan, price and time frame, it is time to get the home ready for the market. Often, some repairs are needed, de-cluttering and sometimes a new coat of paint or touch ups. The yard might need a tune up as well. Generally, the better the home looks and the better shape it is in, the faster it sells. We can also get it professionally staged.

 

Prior to putting the home on the market, a professional photographer will take photos to present the home at its best. 

 

Once you receive an offer or several offers, I will prepare a net sheet for each offer and we will discuss the pros and cons and whether it is an acceptable offer for you or not. Once you accepted an offer, the title company will start working on the title and other documents (for example the HOA docs if applicable).

 

The buyers normally pay an earnest money to the title company which holds it in an escrow account until closing. In Texas, the buyers have a so called option period in which they can terminate the contract without losing the earnest money. For that, they pay a so called option fee. They pay the option fee to the seller. During the option period, the buyer normally gets a home inspection done and may negotiate necessary repairs. In the background, the buyer’s lender starts finalizing the loan. The lender might send an appraiser to the property to make sure it has the value that the buyer agreed to pay. If it doesn’t, there might be another round of negotiations.

 

Once the buyer received his clear to close and all the title documents have been issued, it is time to sign, hand over the keys and start into your next chapter.