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Seller's Guide

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Seller's Checklist

  • Hire stagers

  • 9A with signatures sent to escrow

  • What is mortgage owed

  • What is Zillow value

  • What is Redfin value

  • Pull prelim

  • Pull permits

  • Pull school zone

  • Listing agreement fully executed

  • Photography

  • Create Coming Soon

  • Send listing to email address

  • Execute all disclosures

  • Pre-inspection

  • Termite report

  • Fully executed contract/all addendums

  • Sales memo

  • Seller review escrow packet

  • Create offer guideline for all offers

  • Has buyer shown seller all taxes etc.

  • Do they have offers out

  • Have you worked with lender before

  • Submit reimbursement for any work

  • Notify office when contingencies removed

  • Appraisal ordered

  • Home warranty ordered?

  • Collect keys and codes to house

  • Broker updates commissions based on change in credit

  • Update MLS to pending

  • Schedule movers or notify stagers of end of escrow

  • Final walk through and value p

  • Termite work before close

  • Update MLS to just sold

  • Review all files for complete docs

  • Flash drive with all closing docs, reports, photos, etc.

  • Reviews/testimonials on Yelp & Zillow

  • Update contact with new address & phone number

  • Claim sale

Let’s Talk

01

Meet with me to discuss your plans and goals, trends in the current marketplace, and assess your property’s qualities and characteristics. I will analyze comparable property sales, assess the competition, work with you to determine pricing strategy, and outline a strategic plan to achieve the best possible result for you as a seller.

Setting the Stage

02

From applying a fresh coat of paint to rearranging furniture, your / I will ensure that the property is visually ready for showing. I will schedule a professional photoshoot, commission an illustrative floor plan, and prepare a listing description. At this time, we should also sit down and complete the Seller Disclosure documents that will be necessary.

Going Live

03

The listing is broadcast on Compass.com and sent across our 100+ partner sites for the duration of the selling process.

Spreading the Word

04

The Compass marketing team produces beautiful print collateral to strategically showcase your property. We’ll develop and execute an intelligent, effective paid marketing plan in relevant publications. Eye-catching property signs are produced and placed outside.

Making Connections

05

I will continuously leverage professional contacts and the Compass Network Tool to find ideal buyer brokers. Open houses are hosted for both brokers and clients.

Building a Strategy

06

I’ll conduct an assessment of the market response within the first 30 days of your listing going live. Feedback from agents and buyers is aggregated, and the listing strategy revised if needed.

Communication

07

We will establish the best method and frequency of communicating as the process unfolds. I’ll provide you with regular feedback and will keep you updated with continuous traffic metrics and information from the market.

Negotiations

08

Once we receive an offer, I’ll contact you to review the terms of the offer and analyze the pros and cons. Together we’ll decide how to respond to the buyer in one of several ways: by accepting the offer, rejecting the offer, or making a counter offer.

Escrow

09

Once a contract has been agreed to and signed by all parties, an escrow will be opened and the buyer’s contingency period will begin. Timelines for the completion of buyer and seller responsibilities will be listed in the purchase contract and adhered to in the escrow. I will keep a close eye on the timelines and ensure that you are in compliance with your responsibilities, while also holding the buyer’s side to task to keep the process moving.

Closing

10

I will monitor and coordinate all the details necessary to get you to the finish line. Once the buyer has performed their inspections, removed their contingencies, and the loan (if any) is ready to fund, I’ll arrange the final walk-through. At or near this time the escrow will close, payment will be made, and the keys will be handed over to the buyer.

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The Process of Purchasing a Home

  • Are you a first-time buyer or current homeowner who will sell a property before purchasing another?
  • Talk to a mortgage broker to evaluate your credit and secure a pre-approval letter which will help you when you ready to make an offer. Make sure you ask about all costs of the loan.
  • Hold off on large purchases such as a new cars, as it will impact your rate.
  • Budget
    1. Closing costs are a one time charge, you can estimate about 1 to 1.5% of the purchase price
    2. Property taxes will be 1.25% (LA County) of your purchase price, payable annually
    3. If you purchase a condo there are monthly “HOAs” which are non-tax deductible home owners association dues
    4. All properties require maintenance and you should make allowances for it
    5. Home Owners Insurance is required by the lender and will vary depending on size, location, proximity to an earthquake, flood or fire hazard zone, your assets, etc)
  • It is advisable to always be represented by your own agent to help protect your best interests. It costs you nothing to take
    advantage of their expertise, market knowledge and negotiating skills. They do not get paid (by the seller) until the close of escrow, so once you have decided on an agent, trust and be loyal to them as they are professionals providing you an invaluable service.
  • Write as strong an offer as possible, given market conditions, with your agent.

Include

  • A 3% initial deposit (of purchase price) which will need to be wired to escrow as soon as the offer is accepted
  • A pre-approval letter from lender of loan amount
  • A statement of funds demonstrating that you have the assets for the full down payment
  • A introduction letter to personalize offer and appeal to seller and seller’s agent.

Timeline

  1. After acceptance, you have 3 days to provide initial deposit to escrow (usually 3% of your purchase price) as well as the remainder of down payment (ie. 7% on 10% down; 17% on 20% down)
  2. Have the home appraised for the loan (the lender will usually arrange this)
  3. Initiate loan process get formal approval
  4. Perform inspections with agent and remove contingencies (loan, inspection and appraisal) upon satisfaction of these terms
  5. Sign lots of paperwork with escrow
  6. Fund loan (cash goes into escrow account via wire transfer) usually the day before escrow closes
  7. Final day: deed is recorded, title is transferred to you and escrow close. You now own a home!
  • Have friends bring the goods because initially you’ll be broke but happy :)

Let’s Find Your Dream Home

Get assistance in determining the current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.

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