Carlos & Olga Arce
The steps in the Selling process listed below may vary with different localities, but they provide a good guide for the things to look for, when you decide to sell a property in the real estate market. This is followed by a section on the steps to follow after the sale is completed in a contract closing, which are also important.
We provide this information free of charge to clients, other realtors and the public at large as a voluntary public service.
Steps in the Selling Process
- Make a final family decision to sell.
- Select a realtor to work with you.
- Secure financing from a mortgage lender.
- Interview realtors and choose one to represent you.
- List your house with the chosen real estate agency.
- Prepare your property for public presentation.
- Pre-inspect your property (recommended).
- Make necessary post-inspection repairs.
- Receive and negotiate a buyer's offer.
- Verify the buyer's credit worthiness with the loan officer.
- In condo sales, make available to buyer the condo documents.
- Verify the second deposit by the buyer in the escrow amount.
- Verify the complete mortgage loan application by the buyer.
- Monitor the timeliness of the buyer's property inspection.
- Possible negotiation over the result of the inspection.
- Possible negotiation over the results of the property appraisal.
- Verify buyer's home owners association application.
- Verify purchase of a home owners insurance policy by the buyer.
- Purchase or rent your new home.
- Make final arrangements with a moving company.
- Make arrangements for any use of "power of attorney" docs.
- Make final arrangements for any use of "mail away" closing.
- Make arrangements to have funds wire transfer to your account.
- Complete all packing for moving.
- Have property cleaned and swept for the walk-through inspection.
- Participate in the walk-through inspection, if possible.
- Make baby-sitting arrangements for the closing.
- Bring driver's license or other picture identification to the closing.
- Have workable contingency plans ready, for any last minute delay in the closing date.
Things to Do After Selling
- Verify wire transfer, or rush to deposit check.
- Disconnect electric and water service.
- Report change of address to post office.
- Redirect subscription, other regular mailing.
- Cancel home services: landscaping, extermination,
- Inform relatives and friends of new address.
- Relax and go have a good dinner.