The Selling Process

house money

 

DECIDE TO SELL

Decided to sell your house?  Before anything else it's a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.

 

 

  • Why Sell?  Why do you want to sell your house?  Do you intend to simply find a larger home, or do you plan on moving to another neighborhood, school district, city or state?  You might think your reasons are obvious, but it would do well to consider the implications of each option for your family's life opportunities and finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, life and real estate goals.
  • When Should I Sell?  You should immediately establish your time frame for selling. If you need to sell quickly, you can speed up the process by hiring an experienced agent as opposed to selling it yourself. If there's no pressing need to sell immediately, you can sit down with an expert real estate team to thoroughly review the current market conditions and find the most favorable time to sell.
  • What's The Market Like?  When you work with me, you can be sure that you'll have my knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms.  I'll keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties.  With me, you'll know exactly how to price and when to sell your dream home.
  • How Do I Optimize My Finances?  Deciding to sell your home in Jonesboro demands a serious consideration of your current financial situation and future possibilities. With the my help, you'll be able to effectively assess the cumulative impact of these changes, estimate potential proceeds of selling your home, and plan effective tax savings and estate planning strategies. I will ensure that you not only take control of your finances, but use them to their fullest potential.

 For more information and for any additional questions, please feel free to contact Sheila at any time.


SELECT AN AGENT AND A PRICE

Why trust Sheila Conkling?  You may opt to sell your house independently. There are many good reasons, however, why you should choose me to assist you in this important undertaking. I’ll ensure that you maximize your opportunities in the current real estate market. With my extensive Realtor and contact networks, I’ll employ the most effective marketing and advertising strategies for your Jonesboro property.   I will also guide you through the complicated paperwork involved, from the initial agreement to the final documents.

What to Look For In An Agent
Here are a couple of factors to keep in mind when looking for a listing agent:

  1. Experience and Expertise.  You want a full-time agent who's familiar with your area in Jonesboro and with the type of property you intend to sell. Does he or she employ a diverse range of marketing and advertising strategies? How tech-savvy is your agent? How many similar properties has he/she been able to sell in the past?
  2. Availability and Commitment.  Your agent should be capable of prompt and decisive action during the course of selling your home. Does he/she make it a point to keep in touch with you constantly? Can he/she easily be contacted in case of emergencies or even for the simplest questions?
  3. Rapport.  Does he/she take the time out to listen to your goals and clarify your needs? Can he/she understand your unique situation and be genuinely concerned about the outcome of the process? Your listing agent will be your guide and partner in this crucial decision, so it's important to find one you can get along with.


What Is Your Home Worth?  Without a professional agent, most independent home sellers tend to over estimate the value of their home.  You can avoid this pitfall by consulting with an experienced Real Estate listing agent.

For more information and for any additional questions, please feel free to contact me at any time.


PREPARE TO SELL
You can do a lot to increase the appeal of your dream home and create a lasting impact on potential buyers.

  1. Curb Appeal.  Keeping your landscape pristine, and adding creative touches to your yard such as colorful annuals, will create an immediate impact on passers-by and potential buyers.
  2. House Repairs.  Simple upgrades such as window repairs, polishing the doorknobs, and a fresh lick of paint in the most frequently used rooms instantly brighten up your home.
  3. Cleanliness and Staging.  Keep your home uncluttered, sweet-smelling and will-lit from top to bottom.  Pay attention to details:  put away the kitty litter, place a vase of fresh flowers in the hall, pop a batch of cinnamon rolls or cookies in the oven, have your carpets cleaned.  Let your agent check the house before you accept any potential buyers to see how you can improve the staging further.
  4. Disclosures and Inspections.  I am very familiar with the legal procedures involved in disclosures and am ready to help you develop a thorough disclosure statement beneficial to both you and the buyer, as well as suggest home improvement measures before placing your property on the market (such as termite and pest inspections).
  5. Showtime.  Presenting your home to potential buyers is a job that I will take care of for you.  Buyers feel more comfortable discussing the property with the agent if you're not there.  Moreover, your agent will know what information will be most useful in representing your interest when speaking with prospective buyers.

For more information and for any additional questions, please feel free to contact me at any time.


ACCEPT AN OFFER

  1. The Price Isn't Always Right.   "The higher the price, the better the offer."  Don't let yourself be fooled by this popular misconception. Price isn't always the determining factor in choosing among multiple offers, for several important reasons: the initial offer is never final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust Sheila Conkling to help you thoroughly evaluate every proposal without compromising your marketing position.
  2. Negotiating The Right Way.  I take the ethical responsibility of fairly negotiating contractual terms very seriously.  It's my job to find a win-win agreement that's beneficial to all parties involved. Oftentimes you will have to deal with multiple offers before ratifying the one you judge to be the most suitable for you - and as your agent I'll guarantee a thorough and objective assessment of these offers to help you make the right choice.
  3. Escrow:  The Initial Agreement and Deposit.  An escrow is a legal arrangement whereby an asset (such as a home buyer's initial deposit) is delivered to a third party (an escrow holder) to be held in trust pending the fulfillment of conditions or contingencies in a contract.  Once an offer is ratified, the home seller and buyer will agree upon the amount for the good faith deposit and set up an escrow account. This reflects the buyer's intention to purchase your property and ensures that no funds or property will change hands until all instructions in the transaction are followed.

Some Importantant Tips.  Keep these tips in mind to streamline the process even further:

  • Keep written records of everything.  For the sake of clarity, it will be extremely useful to transcribe all verbal agreements of everything from counter-offers and addendums, and convert them to written agreements to be signed by both parties.  I will assist you in drafting addendums in your contract to ensure you've got all the bases covered. 
  • Stick to the schedule.  Now that you've chosen your offer, you and the buyer will be given a timetable to mark every stage in the process of closing the real estate contract.  Meeting the requirements on time ensures a smoother flow of negotiations.  During the process I'll keep you constantly updated so you'll always be prepared for the next step.


ESCROW INSPECTIONS AND APPRAISAL
Your escrow began when you accepted a buyer's purchase offer and earnest money deposit.  What follows is the inspection and appraisal of your Jonesboro home and the loan origination process.

  • The Title Company.  The buyer & seller select a title company, whose job it is to examine and insure title to real estate. After researching the complete recorded history of your property, they'll certify that 1.) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions) by the date of closing, and 2.) all new encumbrances are duly included in the title. They'll draw up a preliminary report at the end of the process, which your listing agent will go over with you in detail.
  • Contingencies.  A contingency is a condition that must be met before a contract becomes legally binding. For instance, a home buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.

Before completing his or her purchase of your Jonesboro property, the home buyer goes over every aspect of the property, as provided for by purchase agreements. These include:

  1. Obtaining financing and insurance,
  2. Reviewing all pertinent documents, such as preliminary title reports and disclosure documents, and
  3. Inspecting the property.  The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist or mold.

Depending on the outcome of these inspections, one of two things may happen:

  • Either each milestone is successfully closed and the contingencies will be removed, bring you one step closer to the close, or
  • The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).

How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? 
This when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, I guarantee my expertise and total commitment to every client, no matter what their situation.

Loan Approval and Appraisal.  We suggest that you accept buyers who have a lender's pre-approval letter, which is a better guarantee of loan approval than a pre-qualification. Expect an appraiser from the lender's company to review your Jonesboro property and verify that the sales price is appropriate.

Ready to Go?  Don't pack your bags just yet.  Something unexpected might happen-a buyer's offer fails to push through, or new buyers come by to visit right when your house is in chaos. There's a proper time to start preparations for moving, and given my previous experience with these transactions, I'll help you determine when that time will be.


CLOSE OF ESCROW
If you've come this far, then this means only one thing: congratulations, you've successfully sold your home! Don't forget to tie up these loose ends:

  • Final Walk-Through Inspection.  More of a formality than anything else, the final inspection takes place a few days before the transaction is closed.  The buyer visits your Jonesboro property to verify that all is in working order.  You'll be signing the papers certifying that the property was sold in satisfactory condition.
  • Cancel Home Services and Utilities.  We'll provide a list of useful numbers for the termination of home services and utilities as of the date of the close of escrow.
  • Be Prepared.  Sheila Conkling is ready to assist you should an unforeseen glitch pop-up, even at this last stage.  Something at the house breaks down, the buyers' loan doesn't pull through on time - no need to worry.  I've encountered these problems before so we know how to handle these problems efficiently.
  • Close of Escrow.  The title company furnishes the principals with a closing statement, which summarizes all the financial transactions enacted in the process.  On the closing day, you'll sign the final documents for the title company.  They'll record the transaction for you and the buyer at the County Recorder's Office.  You'll the receive your proceeds, and the buyer will become the new owner.
  • Keys.  I'll arrange the delivery of your keys to your buyer once the deed has recorded at the County Assessor's Office.


For more information and for any additional questions, please feel free to contact me at any time.

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