The Selling Process
In general, all home sellers approach the task with the same two goals in mind: get the best possible price for their home and sell it within a reasonable time frame. While the details of the process may vary according to the type of home and local market conditions, the prospect of success is increased by following the steps below and enhanced by the pricing, marketing, negotiating strategies, marketplace insights and deep resources that I bring to help you list and sell your home.
Determine Value of Your Current Home
- Provide market analysis of recently sold properties, properties under agreement and those currently available as a basis for pricing
- Offer informed advice for pricing your home strategically and in line with comparable properties sold recently in your neighborhood to yield the best possible price in today’s market
Prepare Home for Sale
- Identify those important details that can make a big difference in how quickly—and profitably—you sell your home, including recommended repairs or cosmetic work that will significantly enhance the salability of your property
- Provide guidelines around cleaning, de-cluttering and straightening and arranging that will improve the all-important first impression
- Guide you on the installation of (plug-in) carbon monoxide detectors, required by Mass law
- Advise on Title V requirements if you’re selling a home on a septic system
- Ensure the following condominium documents and financials are gathered and submitted prior to listing: master deed, by laws, articles of trust, rules and regulations and meeting minutes
- Complete Property Transfer Notification Certification (Lead Paint Disclosure)
Market Your Property
I will create a customized marketing plan that communicates the right messages (key selling features) about your property and uses appropriate strategies and tactics to reach your target audience:
- Identify key selling features, any exclusions from sale and disclosures of material facts
- Bring in professional photographer to represent property in the best possible light
- Prepare MLS and LINK listings
- Create professional/architectural floor plan
- Develop marketing package that may include sales brochure, insert, floor plan, website, landing page, slide show and virtual tour
- Prepare and place ads (print and online)
- Post sign on property, if permitted
- Conduct broker open houses to introduce property to brokerage community
- Schedule public open houses on frequent basis, such as weekly or bi-weekly
- Permit and accommodate broker-accompanied showings with reasonable notice
- Provide ongoing communications – feedback on showings, market updates, marketing initiatives, etc.
- Work collaboratively and in partnership
Throughout the process of marketing your property, you can expect me to work with you collaboratively while always being accessible, pro-active and responsive. Click here for more information on my comprehensive property marketing services.
Manage Offers/Negotiation
I’ll work with you to objectively evaluate every buyer’s offer without compromising your market position:
- Ensure all offers are complete and in writing, and submitted in a timely manner
- Entertain all written offers (considering price, contingencies, timing)
- Submit counter offer
- Counsel you in situations with multiple offers and employ strategies for best and final offers
- Prepare you to respond quickly due to time sensitive process
- Assure accepted offer is signed by buyers and sellers, and accompanied by $1000 deposit to bind offer, which gets deposited in listing brokerage firm’s escrow account
Once the offer is accepted, I will be at your service to support and guide you through the next stages of the transaction.
Conduct Home/Building Inspection
- At buyer’s expense, a home/building inspection will be conducted, within five to seven days of accepted offer (sooner is better so you know where you stand)
- Inspection may include different types of inspections: building/home, pest, lead, radon which will be indentified in inspection contingency as part of offer
- Expect inspectors to check the following: building exterior, roof, systems, common spaces and interior spaces, including windows, air conditioning, electrical panel, dishwasher, washer/dryer, water pressure and temperatures, etc.
- Prepare to allow inspector access to basement, roof, and wherever systems are housed
- Prepare to hear from Buyer within a few days of inspection regarding issues that he/she wants you to address as part of the Purchase & Sale Agreement or back out of deal as a result of inspection
- Prepare and respond to Buyer requests for you to pay for items that need to be fixed or extend a credit against the agreed upon purchase price
- Request a copy of the inspection report before responding (as necessary)
Hire Real Estate Attorney
- Once offer accepted, hire attorney to draft Purchase & Sale Agreement and handle all legal aspects of the transaction. Seller’s attorney submits draft P&S to Buyer’s attorney and may negotiate on behalf of Seller
- Discuss with attorney items that arose in the inspection and if/how issues will be addressed
- Seller should discuss with attorney items that arose in the inspection and if/how he/she plans to address them
- Decide and direct who will negotiate inspection items. Seller’s attorney may negotiate with Buyer’s attorney (or negotiations can take place between Seller’s and Buyer’s real estate brokers/agents or some combination
- Request your attorney to review/walk through the legal process and costs associated with the sale of property and discharge of any mortgage or other liens
Execute Purchase & Sale Agreement (P&S)
- Purchase & Sale Agreement, most often drafted by Seller’s attorney, typically signed by all parties within 8-10 days of an accepted written offer (although it can be sooner); includes all details, terms and conditions of sale
- Accompanied by deposit (typically 5% of the purchase price, including $1000 deposit at the time of offer)
- All monies are held in listing brokerage firm’s escrow account until completion of the transaction
- Accompanied by deposit (typically 5% of the purchase price, including $1000 deposit at the time of offer)
- All monies are held in listing brokerage firm’s escrow account until completion of the transaction
- Remainder of funds owed are delivered by Buyer at the closing
Appraisal & Financing
- Buyer’s lender will send an appraiser to the property
- Explore financing/bridge loan at start of process if you want to buy another property before you sell your current property
Escrow Account
- Set up by listing brokerage firm
- Listing brokerage firm holds all clients monies in escrow account until closing/transaction complete
Closing/Settlement
- Seller is responsible for Smoke/Carbon Monoxide testing by local fire department who issues certificate. Broker will provide update on any new pertinent laws
- Smoke/Carbon Monoxide Certificate from the local fire department must be provided to attorney for closing
- Seller’s broker/agent will set up inspection with local fire department within 60 days of closing
- Seller must request 6D Certificate from condo association, indicating Seller is up to date on payment of condo fees; must submit to attorney prior to closing
- Prior to closing, attorney will prepare HUD settlement which provides detailed accounting of what buyers and sellers owe in the transaction; discuss details with attorney
Please call me at 617.759.4828 for expert guidance and insights in selling your home, or click here to request a complimentary market analysis, providing an informed opinion of your home’s value in today’s market