Sell your home at the Top of the Market

There are many steps in the sale process and we are here to help educate and walk you through the process to make it less stressful. Here’s a breakdown of the process. 

 

• First we will fill out some documents before listing your home: 

1. Exclusive Right to Sell (ER)  - This form indicates all parties involved, property being sold, the listing price and terms, compensation, personal property included, our responsibility as your agent, your responsibilities as the seller, and your authorization to list the property.

2. Real Estate Agency Disclosures and Elections - This document elects that you are hiring us as your agent. 

3. Seller’s Property Disclosure Statement (SPDS) - This is your opportunity to disclose all aspects of the home. Including ownership, condition, damages and repairs, etc.

4. MLS Printout - Before listing the home you will review the document that will be published on the MLS for agents to see your listing. 

5. Wire Fraud Advisory - This document explains how to protect yourself from wire fraud.

6. Insurance Claims History Report (CLUE)  - You will need to contact your home insurance company and request this documentation. 

7. HOA Addendum (If Applicable) - States the Home Owner’s Association dues, transfer fees, and services provided. 

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• Once your home is listed and we have received purchase offers, the following documents will be involved:

  1. Purchase Contract  - This document will discuss all the terms of the sale including the purchase price, close of escrow date, financing, down payment, escrow deposit, inspection period, etc. 

  2. Prequalification Form or Proof of Funds - This form will prove to us the buyer’s ability to purchase the home. 

 

• Once we have an accepted contract we will open escrow with a title company. This is the process of transferring the title from seller to buyer. The title company’s responsibilities are:

  1. Collect Earnest Money. This is money the buyer’s deposit in good faith that they will purchase the home. Typically, it is 1% of the sale and due within 3 days of an accepted contract. 

  2. Order the Preliminary Title Report, which provides any items of public record that were discovered in the initial title search. These items, if any, will be addressed through the escrow process and will be completed prior to close of escrow. 

  3. The Title Company may request documents from you at this time. 

 

• The inspection period starts the day after all parties have signed the contract. The standard inspection period is 10 days. During this time the buyers will have access to the property to schedule a professional home inspector, termite inspector, etc. After this time period they will submit to us the Buyer Inspection Notice and Seller's Response (BINSR). This form is the buyer's opportunity to request to have us fix any items found by the inspector. We will have the option to reply with the following options:

  1. Fix the requested items;

  2. Offer to fix some items or provide a monetary discount on the house price;

  3. Refuse to make repairs 

• At this point the buyers will have the option to accept our reply or cancel the contract and receive their earnest money deposit back in full.   

 

• The appraisal will typically be ordered after the inspection period. If the buyers are getting a loan, the property must appraise for at least the purchase price. The appraisal typically takes 5-10 days to be completed. 

 

• Now is the time to schedule movers and cleaners so we can properly hand over your home by the closing date. You should make sure utilities are scheduled to be transferred or shut off.  We will Collect all keys, garage door openers, and necessary paperwork for appliances, etc. 

 

• The Title Company will send you a Preliminary Settlement Statement. This form will break down all the fees associated with the process and indicate who will be paying each fee. They will also schedule a time for you to sign all final documents with a notary. 

 

• The buyers will walk the home one or two days before the final closing date to ensure no damage has happened since the contract was originated.  

 

• Payday! Finally we have reached the Close of Escrow (COE) date. The Title Company will coordinate with the bank to transfer funds to you and record the transfer of deed to the new owners.