After you have made the decision to sell your property and have selected your Realtorâ there are a few more steps before the closing.  We have outlined the selling process below so that you will know what to expect. 

Showings

Your agent will market your property in several different ways.  Your home will be listed in the MLS computer system to make it available to other agents searching for properties to show their buyers.  Sometimes your home may be included in a caravan where a group of agents will tour your home and be made aware of its special features.  Your agent may hire someone to create a virtual tour of your home so that it can be viewed on-line or via e-mail.  Additionally, your agent will probably utilize traditional means of advertising such as the newspaper, direct mail and open houses. 

These efforts will stimulate interest in your property and subsequently showings will be scheduled.  You will want to make sure that your home is uncluttered and tidy for all showings.  If you haven’t already read “preparing your home for sale” click here to do so.  And you will want to follow these guidelines to help ensure that showings go as smoothly as possible: 

• If you are home during your showing try to busy yourself and your family outside or in another part of the house.  Too many people present during the showing will distract potential buyers. 

• Try to keep noise such as radio and television to a minimum so that the buyer and his Realtor can hear each other.  Chatting with the buyer may also serve as a distraction. 

• Keep pets outside or in another room during the appointment.  Some prospects maybe intimidated by your pet. 

• Do not discuss price or terms directly with the potential buyer or his agent.  Your agent is most qualified to handle negations. 

Paperwork

By now you have survived the showings and have received an offer.  Luckily you have an experienced listing Realtor to guide you through the paperwork that is generated between now and the closing.  First things first, you and your agent will decide whether to accept the offer or whether to counter offer.  Your agent will go over the sales contract with you and prepare the counter offer.  Once the final contract has been accepted and executed by all parties, the buyer will choose a title company or attorney to handle the closing.  If there is a mortgage contingency that will usually be satisfied in 45 to 60 days.  You should keep your property in showable condition in case the buyer’s financing falls through.  

During the mortgage contingency period the mortgage company will order an appraisal to make sure the property is adequate security for the loan amount.  Finally when the loan is approved the mortgage company will prepare a loan commitment document.  After the loan approval is received, the listing and buyer’s agent will coordinate the closing date. 

If you would like more information about the paperwork involved in the sale of home, click here to view our sample contracts page. 

Inspection Process

Before you close on the sale of your home, the buyer’s agent or mortgage company will schedule several inspections.  Usually a termite inspection is required by the mortgage company.  Additionally, the buyer may hire a traditional home inspector to inspect the appliances, foundation, roof, air conditioner and general condition of the home.  Click here to read more about the Inspection Process. 

Closing

• Finally, closing day is here!  Here is a checklist to help you prepare for the big day: 

• Gather equipment warranties and instructions and bring to the closing or leave in your home. 

• Find out what your seller closing costs will be – click here to use our estimator 

• Make sure all final walk thru deficiencies have been resolved. 

• The attorney/closing agent will search the title. 

• At the closing the attorney/closing agent will explain the settlement statement and deed and obtain seller signatures. 

• Closing costs will be deducted from your proceeds. 

• Finally, bring your keys!  Keys will be given to the buyer at the closing. 

• Funds will be disbursed by the attorney or closing agent after all checks have cleared the escrow account.