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Penny L. Ray
702-658-8153
pennyray@cox.net

CalBRE# 01297075
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Penny L. Ray
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702-658-8153
pennyray@cox.net

CalBRE# 01297075
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HOME SELLING GUIDE – STEP BY STEP PROCESS

If you’re like most people selling a home is an adventure that can be exciting, but at times also be a stressful experience. Whether you have bought and sold many homes in the past, it is always a good idea to seek the help of a professional. That’s where I come in. My job in this journey is to help you sell your home for the best possible price and terms and to guide you through the entire home selling process from beginning to end, making the experience as pleasant and efficient as possible.

STEP 1)     SELECT A REALTOR / ESTABLISH A TRUSTING RELATIONSHIP

I’m an experienced full time professional Realtor, Certified Residential Specialist and Seller Representative Specialist with extensive market knowledge. We will work together to sell your home. Selling real estate is a complex matter, there are many factors to consider, unique opportunities and potential pitfalls, no two transactions are alike. All the more reason to choose an experienced Realtor with an excellent track record to help you navigate through the process.

STEP 2)    INITIAL CONSULTATION WITH REALTOR TO DEFINE YOUR HOME SELLING GOALS

We will meet to discuss your needs, research your options and develop a plan to sell your home that is right for you. It is very important for you to educate and prepare yourself as much as possible in advance to achieve your home selling goals.  This means clearly determining reasons for selling and what your plan is after your home sells.

STEP 3)     ANALYZE THE MARKET AND ESTABLISH A FAIR MARKET PRICE

There are certain factors that are within our control and some factors beyond our control when it comes to setting the price. It’s important to focus on those within our control, pricing and preparation and accept factors that are beyond our control. A property priced at market value will attract more buyers than a home priced above market value and opportunity for a quicker sale. When establishing price a general rule of thumb is the higher the price, the slower the sale.

Before determining your price ask yourself the following questions:

1) How much do you currently owe on your home, is there a prepay penalty on your loan?

2) What are market conditions in your community, are prices rising, falling or stable?

3) If moving out of the area, how quickly do you need to move?

4) What are costs involved in selling property, realtor commission and normal sellers fees.

STEP 4)    PREPARING YOUR HOME TO SELL

Clean Homes with Great Curb appeal will sell. Buyers want to visualize themselves living in home.

1) Kitchens and Baths must be in pristine condition for showings.

2) Freshen up paint, front door and hardware, keep the porch free of debris.

3) Clean windows and blinds, make sure light fixtures are working.

4) Depersonalize your home, remove clutter, limit the decorations.

5) Organize closets and kitchen pantry, remove items you no longer want.

6) Remove weeds, plant a few flowers/shrubs, irrigation systems working.

7) Pools and spas, sparkling clean and functioning properly.

8) Make sure all pet food is put away before showings.

 

STEP 5)    MARKETING YOUR PROPERTY

Utilize multiple marketing techniques that will give your property maximum exposure, such as virtual tour and picture publication to multiple real estate websites (Zillow, Facebook,Realtor.com etc.) For Sale sign, property flyers, post cards, open houses, electronic lockbox.

STEP 6)    RECEIVING AND NEGOTIATING THE OFFER

When an offer is presented the pertinent terms of your offer need to be analyzed,such as: price, earnest money deposit, loan type and terms, closing date, possession, inspections, various contingencies and clauses within the contract.  You will have three options, you can accept the buyers offer, reject it, or counter it to initiate the negotiations then successive counter offers with deadlines for responding will be exchanged between you and the buyer until a mutually-satisfactory agreement is reached.  While negotiating, remember your priorities and respect the buyer’s, don’t let small things get in the way of your better judgment. In reality most negotiations proceed without much problem. Even if there are difficulties, if you are committed to selling the home, where there’s a will there’s a  way.

STEP 7)    MANAGE THE ESCROW PROCESS

After the purchase agreement and any counter offers and/or addendums are signed by all parties,  escrow is opened. At this time the Buyers earnest money must be deposited in escrow. Title company orders a title search and prepares a preliminary title report. The escrow company will order all demands associated with Home Owner Associations, Taxes, Special Assessments, Sewer and Trash. Escrow will hold and disburse all funds associated with the sale.

STEP 8)    THE CONTINGENCY PERIOD

Once you have a pending agreement the contingency period begins for both seller and buyer. This is the time allowed per purchase agreement terms to satisfy any contingencies to which your purchase is subject, such as the appraisal of property, buyer’s home inspections and negotiations of any repairs, providing buyer seller disclosures for review and approval, review preliminary title report, buyer final loan approval, and satisfy any other contingencies to which your purchase is subject.

STEP 9)     CLOSE OF ESCROW

After all the conditions of the purchase agreement have been met, the buyer will have a chance to do a final walk through of property to make sure any/all repairs were made and property condition acceptable. You will meet with the escrow officer, review your net proceeds estimate and sign the escrow closing paperwork.  The Buyer’s lender will deposit the loan funds into escrow. At this point in transaction you must vacate the property and leave all keys, garage remotes and gate transponders at the property. The Grant deed will then be recorded at the county recorder’s office and ownership of the property transferred to Buyer. 

 

I hope the information I’ve provided has given you a better understanding of the basic home selling process. If and when you decide to sell your property, please consider my real estate services. I would sincerely appreciate the opportunity to represent you and protect your best interest.

PENNY RAY, Realtor, CRS-Certified Residential Specialist, SRS-Seller Representative Specialist