SELLING PROCESS: A BASIC OVERVIEW
This breakdown of the selling process is a basic overview and will help you with some of the major steps.
A. CHOOSE REAL RESTATE AGENT
1. Choosing the right agent to represent your needs.
2. Asking for a comprehensive market analysis (C.M.A.) on your home.
3. Ask for an estimate of net proceeds.
B. How to SELL YOUR HOUSE
1. Signing the listing agreement with your agent. Confirming commission rate and other terms.
2. Preparing your home to be ready for sale.
C. MARKET YOUR HOUSE
1. Usually there are many viable and affordable ways to market your property, such as through mail, Internet advertisement, flyers, open house, etc.
2. Ask your Realtor for a presentation of their complete marketing plan for your property.
D. CONSIDER BUYER'S OFFER
1. Comparing different terms of offers. Choose the most matching prospect.
2. Sell has the option to accept to counter or refuse buyer's offer.
E. OFFER ACCEPTED
1. Once the seller accepts the buyer's offer, escrow should be opened. The selected escrow company begins the transaction process.
F. PREPARE REQUIRED DOCUMENTS
1. Seller provides the "Seller's Disclosure" and orders the "Natural Hazard Disclosure Statement and Disclosure Report", or other reports as required by the terms of purchase and sale agreement.
G. REPLY BUYER'S REQUEST OF REPAIR
1. After home inspection, the buyer usually requests seller repairs or corrects some faults. According to inspection report, some must be done by law, others can be decided upon by a mutual agreement between the seller and buyer.
H. TERMITE INSPECTION AND CLEARANCE REPORT
1. According to CA law, all properties must get a termite inspection and necessary corrections done.
I. SELECT HOME WARRANTY PLAN
1. The Seller usually buys a 1 year warranty for the buyer to protect the buyer from expenses required for repairing anything related to this property.
J. SIGN GRAND DEED
1. The seller should sign a Grand Deed to the buyer.
K. CLOSE ESCROW AND GET MONEY
1. Fulfill all required terms then close escrow, the seller recieves net proceeds.
L. MOVE OUT AND TURN OVER KEYS
1. The seller should vacate the property and turn over all keys before the possession date by the terms of the agreement.