Introduction to Home Selling

Every home is unique in its features and each process may not follow the same exact path. Your Listing Specialist will help you plan for your next step and your unique home sale path; however some of the milestones and situations you can expect to encounter are outlined below.

Your Listing Agreement

Signing this document with your Listing Specialist will kick start the home sale process. The Listing Agreement outlines DDA’s commitment to market your property to qualified buyers, present you with all offers submitted and commits you, the seller, to pay the agreed commission upon completion of the sale.
 

Preparations

Your Listing Specialist will discuss with you what current buyers are seeking and what, if any, modifications you may consider prior to putting your home on the market. It is important to remember that first impressions make a big difference in today’s marketplace.
 

Marketing Preparations

Once any preparations are completed and your home is ready to be shown, our Marketing Team will begin visiting your home to take photographs, deliver brochures, install signposts and set up the Realtor lockbox.
 

Showings and Feedback

Your Listing Specialist will review with you what considerations to keep in mind when you are contacted by agents who wish to preview or show your property. Following a visit by another agent your Listing Specialist will contact you with any comments or feedback.
 

Open Houses

An Open House provides an opportunity for prospective buyers to tour your home during a few hours on the weekend. A licensed DDA representative will be on site before, during and after the Open House to set up for visitors, answer questions about your home and then return the home to its prior state for your return. Your Listing Agent will discuss with you an appropriate schedule for holding Open Houses to present the best impression to prospective buyers.

Offers and Counter-Offers

When presented with an offer to purchase your home you have the option to accept, reject or counter-offer. Your Listing Agent will discuss with you the terms and conditions of the offer and any areas you may wish to renegotiate. It is not uncommon for an offer to go through a few rounds of renegotiation before all sides agree upon the final terms.

Some of the areas your Listing Agent will discuss with you include the buyer’s financial qualifications, contingencies, and proposed settlement date. When you are happy with an offer and decide to accept it, read the terms, conditions and contingencies of the contract very carefully. Your Listing Agent is here to help clarify the implication of all contingencies and conditions of the offer.
 

Inspections

Home Inspection

§ If your contract includes a contingency for Home Inspection the buyers will arrange to have the home professionally inspected. During the inspection the home inspector may find conditions that fall into one of two categories – those that must be repaired and those where repairs are negotiable.

§ Areas that must be in working condition include major systems in the house: plumbing, electrical, heat, air conditioning, appliances and septic (if applicable).

Termite Inspection

§ As a condition of sale, your home will be inspected for any evidence of active termite activity. Your Listing Agent will review with you whether you or the buyers will pay for this inspection as well as the results of the inspection.

Appraisal

An appraisal is an estimate of the value of the home being purchased and is an integral component of nearly all mortgage processes. A professional appraiser is designated by the lender and paid for by the buyer. A professional appraiser inspects the home’s size, quality, condition and function. He or she will also compare the house to comparables in the area.

In a written report, the appraiser will evaluate all of these factors and estimate the current value of your home. The lender uses this value in determining an appropriate amount to loan the buyer for the purchase of that particular house. Your Listing Agent will discuss with you’re the appraisal process and how they are involved with ensuring the appraiser has the appropriate information on your home to conduct their calculations.

Final Walk Through

A day or two before settlement your buyer and his or her agent will take a final walk through the house to make sure the home is in the condition expected and all promised repairs have been completed. Typically, the seller is not present during the final walk through. Should questions arise, your Listing Agent will be in contact with you.

Settlement

Your contract will specify where and when settlement will take place. A title company representative, all buyers, all owners, and the listing and selling sales associates will attend the closing. Prior to settlement it is important to confirm you have provided the Title Company with any wiring instructions and payoff information your current loans and remaining funds. When attending settlement you should bring with you photo identification, all house keys, mailbox keys and garage door openers, your forwarding address.

The Settlement Agent will review all documents with you throughout the process. The paperwork you will need to sign is the agreement between you and the buyer transferring ownership of the property. At the time of closing you, the buyer and the sales associate will be provided a copy of the closing documents and closing statements. Money will change hands, the keys will be passed and your house is officially ‘Sold’.

Congratulations!