Home Selling Process
- Decide on where you will go next and whether you will be renting or buying.
- Decide if you will be using an attorney to represent you on the sale of your property.
- Choose an agent to help you sell property and possibly help to find you a new home.
- If you don’t have your deed available, go on the registry of deeds website and get a copy.
- Identify the amount of down payment that you have available and make sure to equate for closing costs and pre-pays, if buying a new property.
- Get pre-approved through a mortgage lender or bank to find out the amount you are qualified to borrow so that you can shop within your price range/ask for closing estimate.
- Ask the lender if you’ll be able to own two properties or if you need a bridge loan, or need to sell one property first before purchasing the second. If you have to sell your current home to buy a new one then you will be shopping with a home sale contingency.
- Upon first meeting with any real estate agent to talk about a specific property review and sign the Agency Disclosure Form
- Meet to allow agent to perform Comparative Market Analysis to find the current market value of your property.
- After the analysis, determine the listing price and details.
- Review the agent’s marketing plan for your property and determine if it is right for you.
- Sign listing agreement and decide if you would agree to dual agency or not.
- Begin the process of getting the home ready to be on the market by decluttering cleaning, painting, organizing, tree and bush trimming, and so on.
- Perform any staging if that is going to be done in order to show buyers the best use of the space.
- If the property is built pre 1978 then you will need to fill out lead paint disclosure form.
- Fill out the seller’s disclosure form, if you are using one.
- If property is served by a septic system then you will need to order a title V or make sure a copy is on hand.
- Always have home in showing ready condition for scheduled home showing requests.
- Upon receipt of an offer or many offers work to decide if the offer is the right choice for you (the most money is not always the safest bet).
- Accept an offer, collect the first deposit, start drafting a purchase and sales agreement, and schedule a home inspection.
- Buyers will visit the property to have a home inspection. If there are any issues this will be a time to renegotiate or fix any items with issues.
- Let both attorney’s review the purchase and sales agreement, if applicable.
- Then you will be signing the purchase and sales agreement and the second deposit will be collected and held in an escrow account.
- Schedule the fire department conduct a smoke inspection which will be valid for 60 days.
- Call in for final reading for water, gas, electric, and all private utilities.
- Hire a trusted moving company or have people help you move out of the property.
- Broom clean home and make sure it is in good order for closing and transfer.
- Attend the closing and make sure to bring your identification, check book, and be prepared to pay a transfer tax (it may already be part of the closing, but just make sure to check in with the attorney handling the closing).
CONGRATULATIONS! Your property is officially SOLD!
Don’t forget to recommend your agent to your friends and family.
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