Selling your home is a potentially lengthy process, typically made up of 17 different steps. Some of these steps involve waiting for the buyer to complete an obligation, and some require more attention. Bonnie Spindler has over 20 years of experience helping clients sell their homes in record time at extraordinary prices. She’ll make these 17 steps feel like a breeze.
Below, you will find all 17 of the steps explained so you may get a feel for the entire process. Once you begin, it can be helpful to use this guide as a checklist to keep tabs on your progress.
You Decide to Sell Property
Easy enough! Let’s get to work.
Select Bonnie Spindler as Your Real Estate Agent
Bonnie will help you with the entire process. She and her team can help with listings, exposure, scheduling and hosting home tours, and with all of the legal paperwork, negotiations, and contracts.
We’ll help you decide how much you want to list the house for and how quickly you would like to aim for the process to be completed.
Prepare Home for Marketing
You will clean the house, fix any obvious flaws that need repair, and possibly have it staged and styled for marketing photographs and home tours. We can put you in touch with some of the best stagers and contractors and oversee any projects with you.
Marketing, Marketing, and More Marketing!
We will list the home on the Internet, print out flyers, and post signs to advertise the sale of the home.
Accept, Reject, or Counter Offer
Once a buyer has made an offer, you can choose to accept the offer if it meets your needs, reject it if the offer is outrageous (or if you got something better), or counter the offer.
The buyer made an offer you could not refuse, but the sale is not complete just yet. The offer will include certain contingencies, including the next two steps: the loan and the inspection(s).
If the buyer is unable to pay full price up front, which is more than likely to happen, they will have to apply for a mortgage loan with their financial institution.
The buyer will request certain home inspections, depending on their personal concerns and on the requirements of the bank loan. These inspections will include evaluations of the property itself, the foundation, plumbing/electrical systems, and more.
This step involves searching public records to determine whether the seller has the authority to sell the property.
The buyer’s financial institution will require an appraisal before they can approve the loan. A certified, state-licensed professional will examine the house to determine the actual value. If the amount of their pre-qualified loan exceeds the actual value of the home, the loan may not be approved and the sale will not go through.
If all goes well with the inspection, title search, and appraisal, the bank should approve the buyer for the requested loan amount.
Closing Papers Signed
One of the last steps of the home selling process includes you, Bonnie, the buyer, and their real estate agent. Bonnie will advise you on reviewing and signing legal documents. These will include the bill of sale, transfer tax declarations, the house deed, and buyer/seller settlement statements.
This step makes the home purchase a public record. The title company delivers the purchase documents to the county courthouse to make the sale official.
Funds Available to Seller
Typically, funds will be available to the seller on the same day that the sale is finalized. Although, the exact date will depend upon the buyer’s financial institution.
Seller Moves Out
You must vacate the property by the date agreed upon between both parties.
Buyer Moves in
Finally, the buyer will get to move into their new home.