When we schedule to meet in person, we will discuss A LOT! We go over paperwork, pricing, marketing, staging, and the process from that very day up until closing. Here is an outline of what we will discuss (minus the marketing) That is WAY too much to go over here. If you would like a copy of that you can download that HERE
Pre-Listing Period –
Paperwork – Before your home officially goes on the market, there are several documents we will need to go over first –
Working w/ Real Estate Agents
Exclusive Right to Sell Agreement
Property Disclosures
Mineral, Oil, & Gas Rights Disclosure
Affiliated Business Disclosure
Coming Soon Form (if applicable)
Staging Your Home – Depending on the market we are currently in is what will dictate how much or how little needs to be done to get your home “show ready”. Decluttering (which sometimes includes extra large furniture), cleaning, and touch up paint goes a long way.
Professional Photography – ALL listings get professional photos, video, and a professionally drawn up floor plan. This will typically be done a few days before the home goes on the market.
Pricing Your Home – One of the most important part of the selling process is making sure your home is priced correctly. There’s a fine line between overpricing (causing the home to sit, and ultimately netting you less), and leaving money on the table. Not only will we look at past sales, we will also look at what is currently on the market to ensure your home will compete well with the other listings.
Coming Soon Status – often times, I will put the home in the MLS as “coming soon” to create a buzz, and allow agents to start scheduling. This is also helpful because it may give us an idea as to how many showings you will get. In Coming Soon, buyers can see the home online and agents can schedule showings for the date it becomes active. However, we are NOT allowed to physically show the home.
Pre-Listing Inspection – Now that the dust has settled from the frenzy market of 2020-2022, it is extremely important that your home is the most attractive on the market – and I’m not talking about cosmetics. I’m talking about buyers feeling comfortable that they are purchasing a good, stable home. If you have lived in your home for more than 3 years, I will ask you if you’d like a complimentary pre-listing inspection performed. We will go into details as to how that process works.
Listing Is Live!! –
We use a 3rd party service called “Showing Time”. Your contact information will not be anywhere. No buyer or agent will contact you directly. You will receive a text message, stating the date and time someone would like to see your home. You will reply with a “Y” or “N”. Obviously we want to be as flexible as we can. If a specific time does not work, please let me know before saying no and I will contact the agent.
Contract to Close Terms-
Earnest Money and Due Diligence – of course sales price is important, but many sellers are also looking at these two terms very closely. Especially the Due Diligence Fee. What’s the difference? The Due Diligence Fee is a deposit given directly to YOU as opposed to the closing attorney to be held in escrow. Should a buyer back out for any or no reason at all, you get to keep this money. You credit it back to them at closing. They are entitled to receive their Earnest Money back, so long as they back out within the Due Diligence Period.
Inspections – Per the contract, you are obligated to make your home available for any and all inspections the buyer would like to have. This is typically done within the first week of being under contract. They will most likely send either a “repair request” or ask for a credit. Just know that in NC’s Offer to Purchase contract, it states that a buyer is purchasing a home “as is” and the seller is not obligated to make repairs. We will go through the list, and see what, if any, items you are willing to repair. I work closely with a company called SpekWo, where I will pay them to get a quote on all items.
Appraisal – Along with inspections, if buyers are obtaining a loan, chances are the bank will require an appraisal (some banks will waive it if the buyer is putting down a significant amount of money down). While I always confidently price my listings, crazy things do happen. I’ve had homes that I was worried about it appraising and it did, and I’ve had homes where I wasn’t worried, yet the appraisal came in low. You just never know. If by chance it does come in low, we will discuss our options which are – 1) ask for a reconsideration 2) come down to appraised value 3) stick to the offered price (buyers may have to back out because they can’t come up with the difference), or 4) meeting in the middle
Closing
The typical timeframe between offer acceptance and closing is anywhere between 30-45 days. Most buyer’s agents will ask when the seller prefers to close, so long as they are flexible, so we will discuss that upfront. The buyer chooses the closing attorney, and they will prepare all the documents. You do have the right to hire your own Real Estate attorney. However, in NC all they are doing is handling the paperwork so it’s a lot more expensive to hire your own. 99.9% of sellers just go with the buyer’s attorney for the sake of expenses and added work. But it is your right. I would just need to know ahead of time. Once everyone has signed on closing day, there is still a gap of time that the home is still technically yours. In NC, it is not officially “closed” until the deed has been recorded. This usually takes 2-3 hours after signing. Once the deed is recorded, the attorney will pay off your mortgage, and will wire your proceeds.