At Marvin Gardens, we know selling your home involves some of the most important financial decisions in your life, and that these decisions can affect you and your family profoundly. We put together a blog post to help first-time home sellers better understand what is involved in the home selling process.

 

At a listing presentation, a great agent will find out your needs in selling your home, share estimates of closing costs, and timelines, and show you how their marketing plan will get your home sold. Since everyone brings their best work to a listing presentation, it would behoove you to do a quick google search of the agent to get a better idea of their marketing materials.

 

Choosing the right agent can make all the difference in a successful home sale. Your agent should be a local professional with direct experience in your neighborhood. You should have a good rapport and feel comfortable with the agent you choose. Your agent should be able to articulate their strategy for your home sale, present you with a professionally written market analysis, and be able to provide references from satisfied clients.

 

The comparative market analysis prepared by your agent provides the background data on which to base your list price decision. Depending on the current market, you and your agent will weigh the pros and cons of listing within the high or low ends of your range, with the goal to get you the most for your home in the shortest period of time.

 

During this time, you may be asked to sign a listing agreement contract with your agent which outlines the listing price, any commissions, and the duration of the agreement.

 

Your agent will manage all the marketing efforts for your home, including marketing your home across the web and in print media, and in addition, scheduling tours and placing yard signs. When your home is entered into the Multiple Listing Service (MLS), it is shared with 10 other local MLS’s including San Francisco, Marin, San Jose, Santa Cruz, and covers 80% of California. An IDX feed distributes your home to the websites of all the individual real estate companies and agents in the area. After your agent enters your home into the MLS, buyers will be able to see it across 30 other real estate websites, including Zillow, Trulia, Redfin, Realtor.com, Homes.com, Relola, and HomeFinder to name a few.

 

Preparing your home for sale includes making quick repairs, repainting, and deep cleaning. In addition, staging your home is highly recommended. Home staging highlights the strengths of your home, normalizes its quirks, hides its weaknesses, and helps potential buyers better envision themselves living there. Read more about home staging tips for first-time home sellers.

 

Your agent will set a date after a period of public open houses when offers will be reviewed. This process allows for ample time to expose the property to potential buyers. It also sets up the possibility of obtaining multiple offers, which can increase the selling price of the home.

 

Your agent will meet with you to hear the terms of the offer from the buyer’s representative. Your agent will help you understand the offer’s terms. The buyer’s agent will be excused and you will have an opportunity to create a counter-offer if needed. When there are multiple offers, your agent may arrange to hear them on the same day so you can accept the best offer.

 

When you accept an offer, and upon obtaining a ratified contract, escrow will be opened and the buyer’s deposit will be given to the escrow company. A preliminary title report will be ordered as well. All contingency time periods will begin (inspections, loan, title and close of escrow).

 

Your agent will monitor the buyer’s progress throughout this time to make sure everyone is performing according to the contract, and that contingencies are removed within the time periods specified. As the closing date approaches, your agent will confirm that the escrow holder has received the buyer’s funds for closing the escrow, that the loan payoffs have been ordered, and the necessary terms and instructions have been delivered to the escrow company for closing.

 

On the day of closing, the buyer will have a final walkthrough to make certain that the house is in good condition, with all required repairs made. All the final paperwork will be signed and the title of the property is transferred from you to the new homeowner. This is the big day for the buyer as they now have the keys to their new home!

 

The title representative will subtract the funds from the buyer to pay off the outstanding mortgage. Deeds and associated documents will be prepared, signed, and filed with the local record office.

 

A local East Bay real estate agent has the market knowledge and experience to give you the best home selling experience imaginable. Learn why you should list your home with Marvin Gardens.