MEET WITH A REAL STATE PROFESSIONAL
Ther's no commitment required on your part for the initial meeting. It will be educational and help help you indentify your next steps.
ESTABLISH A PRICE
A Comparative Market Analysis (CMA) is the strongest tool we use when estimating the potential selling price for your home. As a member of the Board of REALTORS® with access to the Multiple Listing Service, we can prepare a report that analyzes comparable homes in your area. Using this valuable information, we can assist you in determining an attractive, yet realistic price for your home.
A Comparative Market Analysis highlights similar homes in your area that are:
Active Listings - Homes that are currently competing with yours for the attention of buyers.
We can see what comparable asking prices are, but remember these homes have not yet received an acceptable offer.
Under Contract - Homes that have received and accepted an offer and give a good indication of realistic pricing.
Sold - Looking at the prices paid for recently sold homes provides the best foundation in determining your home's most accurate market value. Once adjustments are made for square footage and features, we can make a qualified recommendation for the asking price of your home.
Expired - Homes that have gone through the duration of a listing period, but failed to sell.Many factors could be responsible such as lack of marketing or the home’s condition, but most often it is simply because the home was priced too high.
PREPARE YOUR HOME
View your home through the eyes of the buyer and ask yourself what you'd expect. Your agent, Suzie will offer some useful suggestions.Scorecard - Revelation Real Estate
LIST IT FOR SALE
When everything is in place Your agent, Suzie will put your home on the open market. It's critical you make it as easy as possible for potential buyers to view your home.
Potential buyers may ask to see your home on short notice. It's best if you can accomodate these requests, you never want to miss a potential sale.
OFFERS AND NEGOTIATIONEvaluation of an Offer - Does it meet your needs?
An offer for your home will come in the form of a Real Estate Purchase Contract (REPC) - a state approved form that is used to present an offer. The REPC should be thoroughly read and reviewed before any decisions are made. Once we receive an offer for your home, we will carefully review all terms of the offer with you. All accepted terms of the REPC must be carried through the life of the contract. The signed, accepted REPC (with all addenda & counter offers) is a LEGALLY BINDING CONTRACT.
Below are some of the items that we will need to pay close attention to:
Purchase Price - Be sure to factor in all the terms of the offer before getting excited or disappointed.
Included Items - What is included - Refrigerator, Washer & Dryer, Hot Tub, Furniture, Artwork, etc.?
Excluded Items - What is excluded - Refrigerator, Washer & Dryer, Hot Tub, Furniture, Artwork, etc.?
Water Rights - Do they apply? You may need to employ the services of a Water Lawyer.
Earnest Money - This is the initial deposit. The importance of this item is often overlooked.
Method of Payment - Is this a cash sale, conventional mortgage or seller financing? How much down payment?
Special Assessments - Are there any outstanding or upcoming HOA assessments? Who pays, Buyer or Seller?
Possession - When does the property legally change ownership? (Buyer receives keys and moves in)
Seller Disclosures - What information about the property is the Buyer asking for? Do we have it ready?
Due Diligence Condition - What "outs" will the Buyer have?
Appraisal Condition - Is the sale contingent on the home's appraisal amount?
Financing Condition - Is the sale contingent on the Buyer securing financing?
Additional Earnest Money - Will the Buyer offer an additional deposit of earnest money?
Additional Addenda - Are there any additional terms or addenda attached to the offer?
Home Warranty - Is the Buyer asking for a home warranty? Are they asking for you to pay for it?
Mediation - If a dispute arises, how are you and the Buyer directed to handle it?
Seller Disclosure Deadline - What is the deadline date for you to provide all seller disclosures?
Due Diligence Deadline - What is the deadline date for the Buyer to complete due diligence?
Financing & Appraisal Deadline - What is the deadline date for the Buyer to cancel based on loan denial?
Settlement Deadline - What is the deadline date for you and the Buyer to complete closing?
Response Deadline - How long do you have to respond to the offer, or counteroffer?
Multiple Offers - As great as it is to have multiple buyers for your home, we need to negotiate strategically.
After considering all terms... Do you Accept, Counteroffer, or Reject the Buyer's Offer?
At this point, you and the buyer have agreed to all of the terms of the offer and both parties have signed the agreements.
FINAL DETAILSProving the Seller’s Disclosure
- Seller Property Condition Disclosure - filled out, signed and dated from Seller.
- Commitment for the policy of Title Insurance, showing easements, encroachments and liens.
- HOA information, budget, minutes, assessments, CC&R's, and survey, water rights if applicable.
- Copy of any leases, rental, and property management affecting the property not expiring prior to closing.
- Notice of any claims/conditions relating to environmental problems & building or zoning code violations.
Buyer's Due Diligence (Evaluations and Inspections)
- The Buyer will carefully review all items provided in the Seller's Disclosures.
- The Buyer may schedule physical condition inspections, tests and evaluations of the property.
- The Buyer will review the costs, terms and availability of homeowner's insurance for the property.
Buyer's Right to Cancel or Resolve Objections
- No later than the Due Diligence Deadline, cancel the contract by written notice to Seller.
- Or no later than the Due Diligence Deadline, resolve in writing any objections.
Remaining Contingencies and Financing
- Is the sale contingent upon an appraisal? At what amount did the property appraise?
- How is the Buyer's financing going? Are there any last minute issues for securing their mortgage?
- Was the sale contingent upon the Buyer selling their previous home?
- Final pre-settlement walk-through inspection.
- Buyer and Seller have signed all documents required by REPC, Title, Lender, etc.
- Any monies required to be paid have been delivered by Buyer and/or Seller.
- Proceeds of the loan have been "funded", then all closing docs are "recorded" at the County Recorder.
- Hand off keys, garage door openers, manuals, warranties.
- Help you to find a new home in this area or offer relocation assistance.