First you will want to make a list of the items that need to be done to make your home presentable to the whole world. Give yourself a few weeks to get everything in order. You will need to accurately determine the value of your home. Instead of paying hundreds of dollars on an appraisal, find a Realtor that will give you a free market analysis. Realtor’s use the much of the same information as appraisers do in determining value.
Today many sellers and buyers are internet savvy. Some Realtors will let you advertise for free on their web site if you do not have a web site of your own. You will want to make sure that you advertise your home as much as possible. Make sure that you are not alone if you show your property yourself- you want to keep you and your family safe.
Whether you market your home yourself or hire a real estate professional -you need to be prepared and familiar with the process. It is important to use the right Title company. When comparing prices with different Title Companies be sure to ask what “all ” of their fees are so you don’t get any surprises at closing. Depending on how long you have lived in your home- you can receive substantial discounts from the Title company when you sell your home.
Familiarize yourself with the real estate contracts. The approved Realtor Purchase Contract is nine pages long. It is a good idea to have counter offers and addendums on hand too. You will need to have a termite inspection and the buyer will probably want to have a home inspection.
You may want to check out the home warranty programs to give the prospective buyers peace of mind that your home is in good shape when they buy it. Call around to make sure you get the best deal; but be sure to compare apples to apples (lowest price doesn’t always mean it is the best deal).
To protect yourself, you will want to fill out a disclosure form of any potential problems with the home. If you sell your home through a Realtor- they will walk you through these necessary steps.
Once you have accepted the Buyer’s Offer to Purchase- the earnest money needs to be deposited right away with the Title Company. Submit documents and information to the escrow holder, such as: addresses of lien holders, tax receipts, equipment warranties, home warranty contracts, any leases and/or rental agreements. You will need to sign the escrow instructions, grant deed and other related documents required to complete the transaction.
Now is the time to order inspections, receive clearances and approve final reports and/or repairs to the property as required by the terms of the purchase and sale agreement. Be sure to obtain the Deposit Receipt. Fulfill any remaining conditions specified in the contract and/or escrow instructions; approve the pay off demands and/or beneficiary’s statements.
Once it is all over with- go relax and take your family on a wonderful vacation. You deserve it!