Step 1: Before you put the house on the market

• Meet with your realtor to discuss timeline, expectations, & marketing of the home sale.

• Review comparable market activity in the area to determine pricing strategy.

• Gather all necessary information and documents including current mortgage account information, HOA documents, and utilities accounts.

• Go over the estimated net proceeds sheet with all charges/fees and total net amount.

• Complete the required property disclosure form.

• Sign a listing agreement with your realtor.

• Consider ordering a pre-inspection to find possible issues with the house.

• Prepare the house for the sale. Clean, de-clutter, paint, make necessary repairs, etc.

• Have pictures and/or video taken of the home and property. Pictures and videos, especially those online, are the first impression for interested buyers.

 

Step 2: Putting the house on the market

• Put a for sale sign in the yard and a lockbox on the door.

• List the house on the local BLC and all other home listing resources.

• Keep the house as clean as possible for all showings. This is very important.

• Be as flexible as you can with showing schedules. You want people to see the house.

• Determine if your location is good to host an open house.

 

Step 3: Receiving an offer

• Review the entire offer including purchase price and any seller concessions.

• Remember that the offer is ultimately one big pot of money.

• Make sure the buyer is qualified with a pre-qualification letter or proof of funds.

• Look at comparable market activity in the area to determine value.

• You have 3 options – accept, counter, or reject. Negotiate with buyer as needed.

• With an accepted agreement the buyer will submit earnest money - typically 1%.

 

Step 4: Directly following accepted offer

• Earnest money check delivered to the listing agent’s office and held until closing.

• The buyer will schedule an inspection and/or survey for the house, if applicable.

• Determine the desired closing date.

 

Step 5: Before closing

• Review buyer’s inspection response and negotiate any requested repairs as needed.

• The mortgage lender will schedule an appraisal on the house, if applicable.

• Schedule the time and location of the closing.

• Make any repairs agreed to for the buyer’s inspection response.

• Make sure finances are in order if you will be bringing money to the closing.

• Call the utility companies to take the utilities out of your name effective the closing date.

• Secure certified check or money wire for total amount needed to close.

• Get everything out of the house before the date of closing/possession.

• Buyers will schedule a final walk through the day/week before closing to verify repairs.

• Verify the closing documents for the correct charges/credits for closing.

 

Step 6: At closing

• Bring all funds needed for closing, if applicable.

• Bring a valid driver’s license or legal ID.

• Bring any keys, garage door openers, etc for the buyer.

• Congratulations! Your house is sold!

 

Step 7: After closing

• The title company will send the amount owed to your current mortgage company.

• After receiving the payment, your mortgage lender will send you a release of mortgage.

• Keep all closing documents for tax information.