Steps Towards Selling Your Property

As selling your property is a significant decision, you must ensure that your goals for your investment are at the forefront of any transaction. Through a partnership of confidence and trust, your personalized plan developed by Gemma will assist you in achieving success from the listing to the closing. The following is a brief step-by-step guide encompassing the selling procedure and Gemma’s approach to a successful sale.

PREPARING YOUR PROPERTY FOR THE MARKET

Preparing your property by implementing the following tips may give you a competitive advantage resulting in a higher return on your investment and ensure a more expeditious sale.

Exterior: Present a great curb appeal by maintaining the current landscaping, adding color by planting seasonal plants, and parking vehicles in the garage. Ensure your entry is clean and welcoming. Keep windows and screens clean. It is also simple and cost effective to freshen up the exterior with a new coat of paint.

Interior: Minimize clutter in all areas including closets/garage space and rearrange furniture to promote spaciousness. Eliminate any smoking/pet odors and if needed, clean carpets to remove any stains. Ensure bathrooms are always presentable. Freshen the interior with new paint and fix any dripping faucets.

PRICING YOUR PROPERTY

Determining the correct list price for your property is important, as it will directly affect the timeliness of the sale and overall market appeal. Overpricing can discourage buyers from looking and/or making an offer. While the ultimate goal of selling is to net as much as possible, the list price should be in line with active comparable properties, recently sold properties and be considerate of the current market conditions, the buyer demand and the lure of the new home market. Your personalized plan developed by Gemma compiles and analyzes this data according to the current market to arrive at a Competitive Market Analysis (CMA). This will assist to determine your list price. An appraisal is a value of your property appointed by a licensed appraiser in consideration of recent sales of similar properties. Keeping your list price in line with comparable and recently sold property is important because your home must appraise for the sales price in order for a lender to issue a loan to the Buyer.

Ultimately it is most ideal if your property and its price are more attractive to prospective buyers than your competition.

THE LISTING PROCEDURE

When you are prepared to list your property for sale it is vital that you fully understand the listing and sale process. This includes; representation, the listing agreement, disclosure of property conditions, market conditions, the CMA, a bottom line price, seller’s estimated expenses, real estate commissions, showing procedures, the offer process,  1031 exchange procedure, the contract to close process, closing procedure, and an exit plan.During the listing presentation, Gemma will ensure that you understand these topics and will answer any questions you may have or advise you to seek further advice from an attorney or CPA. Being aware of your options will empower you as a Seller to obtain your desired results for your investment.

It is legally necessary to disclose anything that would influence a Buyer in making an offer on your property. This is documented on a Seller’s Property Disclosure Form. It is better to over-disclose than to omit an item that could cause a problem in the future. As a Seller, this is your best protection against liability after closing. A Clue Report that examines all claims that have been reported to the insurance company for a given property over a five-year period is an additional disclosure report a Seller can provide potential buyers.

Gemma’s personalized listing presentation will communicate a successful approach to selling your property. This includes innovative marketing techniques and advertising strategies customized to suit your property and needs.

SHOWINGS

Once your property is officially listed, it will be shown to all potential Buyers. Typically a lock box will be placed at the property so that with notice, other Realtors® can have easy access to showing your property to their clients. To create a desirable showing ambience, consider the following: Leave the property when it is being shown so that the buyer has the freedom to explore without feeling intrusive. Restrain pets. Open the curtains or blinds and leave the lights on. If the property is vacant do not disconnect the utilities.

NEGOTIATING AN OFFER

Receiving an offer on your property is an exciting moment. However successful negotiations must then take place in order for the terms to be agreed upon and result in an executed contract. This is where Gemma’s experience, expertise, and powerful negotiating skills help to favorably influence the negotiation process for her Seller’s best interests.

As a Seller it is important to avoid becoming emotional or insulted with a low offer or low counter offer as this typically interferes with clear and logical decisions. It is only natural that the Buyer would like to obtain the property at the most reduced cost available. If there are terms in the offer that are not acceptable, you maintain all control to give the Buyers a counter offer or reject the offer all together. In making a counter offer there should be movement by each party demonstrating willingness to compromise. With Gemma’s assistance you will understand the buyers’ motives and priorities and thus your counter offer(s) can be a tool to move forward in obtaining an executed contract. Buyers who are serious in the purchase of your property will give an earnest money deposit. Ultimately both parties should be satisfied with the terms and once agreed upon then in writing, the offer becomes an executed contract

THE CLOSING

Leading up to closing, Gemma will be working closely with you the Seller, the Closing Attorney/Title Company, the Buyer’s agent, and the Mortgage Broker to ensure all facets of the transaction are handled in a timely manner. Throughout this collaboration it is imperative that everyone involved experiences first class service.

At closing, the Seller officially transfers the ownership of the property to the Buyer. Typically the day before or the day of closing, a walk thru inspection is performed and the settlement statement (Hud-1) is reviewed. The settlement statement itemizes all charges for both the Seller and the Buyer giving a complete list of their outgoing and incoming funds.

The closing is usually attended in person, but can also be performed via mail. The closing documents (including the Hud-1 and deed and any loan documents) are reviewed and signed and the keys to the property are given to the buyer. Congratulations! We have just successfully sold your property!

POST CLOSING

After the closing remember to ensure the utilities to the property have been transferred and are no longer in your name. Notify the postal service and your service providers of your address change. It has been Gemma’s pleasure working with you to get your property sold and she looks forward to working with you on future transactions.

Seller Resources

Request a Free CMA

1031 Exchange/Reverse 1031 Exchange

Understating the Buying Process

Resourceful Seller Links

Staging

Clue Report

Hud-1 Settlement/Closing Statement