I like to explain the Home Selling Process here in Middle Tennessee. Over the years, the buying and selling process has really changed. When I first started selling homes, we had a 2 page contract and that was it. Now, it can be as much as 25-30 pages. The process has also changed a lot over the years. Here are so of the processes that a seller might deal with.
Step 1: Home Preparation
In this step, you will want to take care of any deferred maintenance, declutter the home, and also de-personalize it.
Step 2: Choose a REALTOR®
Some things to keep in mind when you’re looking for an agent are the level of marketing that they use including the level and quality of the Photography. Also whether or not they and or their company market listings through their social media networks. Not all agents are a like.
Step 3: Determine the Listing Details
These include the listing price determined from a comparative market analysis done using nearby homes that have recently been listed and/or sold. Also, you will determine what will be included with the house and what is going to be excluded. These include things like appliances, fixtures, and other items sold with the home. When you will need to move, do you need to say past the closing date and much more.
Step 4: Multiple Listing Service Details
These include finished photos, room sizes, tax information, school district information, and the Seller’s Real Estate Condition Report along with lead base, agency disclosures.
Step 5: Showings Begin
Here agents representing a buyer will be showing your home using secure entry that only licensed agents can access. They will be given specific instructions applicable to your home and they will provide you with feedback.
Step 6: Receive Offers
Depending on the market you could get multiple offers, offers at, above or below asking, with contingencies, or offers without any contingencies. With the help of your agent, you will decide which offer is best and negotiate agreeable terms for the sale.
Step 7: Inspection Period
This is a 7 to 15 day period when the potential buyers will have a general home inspection of your property, usually including radon testing. From this, the buyers may determine if they need any follow-up inspections and/or contract renegotiations. At this point, you will have to renegotiate your contract, deciding how the repairs will be handled
Step 8: Path to Closing
This is where you work with your title company on the details of passing ownership to the buyers in exchange for the sale price. During this period, the appraisal will occur; the buyers will work out the details of their loan process as well. Near the end of this period, you will receive closing disclosure documents for verification, and the buyer will conduct a final walkthrough to verify everything in the contract is completed. The last day will be the closing day where documents are signed and the keys are turned over.
The Home Selling Process
That summarizes the home selling process here in Middle Tennessee. There is so much more that go into the selling process that only a great Realtor can help you through the full process. If you would like more information on buying or selling a home, I am your Realtor. I have over 30 years of experience and can help you make it to the end as smooth as possible.