Step by step to getting your Home Sold Fast and for more
Step 1 – Competitive Market Analysis
Once you have made the decision it’s time to sell your home, you will need to decide which agent you would like to represent you during the selling process. The first step is to request a Competitive Market Analysis (CMA) from a reputable Realtor. A Realtor is any licensed real estate agent registered with the National Association of Realtors. The CMA will help you determine the current market value of your home.
Step 2 – Listing Contract
Your Realtor will act as your representative and advocate on your behalf during the selling period. The listing contract between you and your Realtor states the asking price of the home and the length of time the listing will be active in the Multiple Listing Service (MLS).
Step 3 – Purchase a Home Warranty
Your agent will ask you if you would like to purchase a home warranty or home protection plan. This type of insurance coverage helps attract homebuyers and will reduce the seller’s liability if something breaks during the listing period and up to two years after closing. Many plans cost merely a couple hundred dollars and could save you thousands in the repair of broken appliances and systems such as plumbing. (Consult the home warranty application for details on cost, deductibles, length of coverage and systems/appliances covered).
For more information, Click Here to visit the First American Home Buyers Protection Corporation website.
Step 4 – Advertising and Marketing
Once your home is listed with the MLS, your Realtor with develop a strategy to create the maximum amount of exposure to reach the perfect pool of buyers. With an Allegiance Properties Company yard sign drawing attention, prospective buyers will recognize the brand that stands for high quality of service, experience, and professionalism.
All properties listed with Allegiance Properties are posted on our website. Your property will also receive regional exposure on the MLS and national exposure on Realtor.com.
The highest quality photos and flyers will be created and ads will be placed in appropriate print and on-line publications. Your Realtor will advise you on virtual tours, open houses, and how to prepare your home for showings.
With the proper representation your home will sell in the least amount of time for the highest price possible. You have important things in your life to attend to, let the professional Realtors of Allegiance Properties ease your mind and take care of business.
Step 5 – Purchase and Sales Agreement
Once you receive an offer on your home the negotiations begin. Your Realtor will advise you on sales price, closing date, and contingencies. When mutual acceptance is achieved your buyer will provide an earnest money check to be deposited in an escrow account. If your buyer is working with a mortgage officer, a loan approval will be provided.
Step 6 – Inspection
During the inspection process, the buyer will have the opportunity to review any problem areas of the house and ask you to correct the issues prior to closing. Being prepared in advance and knowing potential problem areas will help you to avoid delays in the inspection and closing process.
Step 7 – Appraisal
The buyer’s lender will schedule an appraisal of the property to assure the sales price is not above the appraised value of the home. The appraiser will verify the square footage, amenities, the condition of the home and its neighborhood and provide the lender with comparable properties in the area. Appraisals protect lenders from loans that exceed the value of a home and rarely match the taxed assessed value.
Step 8 – Title Insurance
A title company researches the history of the property looking for outstanding liens and judgments. The title insurance policy the buyer purchases will protect their rights of ownership.
Step 9 – Escrow
An escrow company is a third party who carries out instructions for both the buyer and seller and handles the distribution of the funds. Once the escrow officer verifies all documents are in order, your closing will be scheduled.
Step 10 – Closing & Recording Deed with County
At closing you will sign to authorize transfer of title to the buyer. Once funds are transferred, the deed with the new owner’s name is recorded with the county and the owner can take possession of the property.