Step 1: Choose Your Professional Representation
When selecting your agent to represent you, make sure that they are well qualified to fit your needs including Knowledge on the area, past sales, experience, ability, availability, commitment, strong communication skills, and good rapport/reviews.
Grodzicki Group will maximize your properties opportunities in today's real estate market, utilizing our extensive international and national network that we have developed. We will use the most effective marketing and advertising strategies for your property to make sure that we receive the highest price possible for your property, in the shortest period, while upholding the highest level of communication, customer service, 24/7 availability, honesty, integrity, and our white-glove service.
Lastly, we will walk you through all the complicated paperwork, starting from the executed agreement to the last documents.
Step 2: Set Property Price
We will find the highest price of today's market will support by completing an in-depth comparative market analysis. Most independent sellers waste a lot of days on market time by overpricing their properties, causing the properties to become stale on the market and buyers to be uninterested in the property, feeling that the seller is unrealistic. We will set the price appropriately from Day 1, saving a lot of time and energy.
Step 3: Prepare To Sell
Ensure the property's curb appeal, complete any necessary property repairs, make sure the property is well cleaned and staged if needed, and prepare the necessary seller disclosure documents.
Step 4: List Property
It is now time to list the property and make it "go live". When we say this, it indicates that all of our prepared marketing and advertising will now go into full effect to start developing potential buyers for your property.
Step 5: Showings, Open Houses & Broker Opens
After the listing is live, we will now begin to receive showing requests, hold open houses and broker opens. Open houses are meant for the public and we hold them every weekend. Broker opens are meant for agents only and are held during the week. It is important to have brokers see the property too, as they have many clients that they can share the property with. The more exposure the better.
Step 6: Receive & Negotiate Offers
Now that you are receiving offers, it is time to negotiate the price/terms to come to an agreement. Please keep your emotions out of this, as it is not helpful. If you come off too eager, this could lower the price you could ultimately end up getting for the property. If you come off angry, the buyer may react back and ego could get involved resulting in them selecting a different property. Please do not take it personally. Work with the offers you got and try to reach an agreement. All buyers want the house for as cheap as they can and all sellers want to sell the house for as most as they can. The goal here is to get both parties to agree and feel it is a win-win.
Step 7: Property Inspection
Once you accepted their offer, the buyer will have a licensed property inspector to inspect the property within the agreed-upon time frame in the accepted contract. The home inspection will find existing structural, electrical, or plumbing issues with the home.
After the inspection report is complete and reviewed, 1, 2 or 3 will occur:
1. It went well and the buyer is ready to move forward in the process.
2. It didn't go well and the buyer requests a renegotiation of the terms in the contract. This usually means negotiating a lower purchase price or asking you to have the issues professional fixed with a form of proof/receipt before closing. If you can't agree on new terms, the buyer may decide to still move forward or have the contract voided and begin their search again.
3. It went very bad and there are major issues with the home and the buyer decides that they no longer want to move forward or try to renegotiate the terms of the contract. At this point, the buyer may choose to void the contract and begin their home search again.
If the inspection results in 2 or 3, keep in mind that any buyer is going to run into the same inspection issues with your property. Please consider addressing these issues if you really want to sell your home for that price or consider lowering the price to show the issues.
Step 8: Appraisal & Loan Approval
This step is only necessary if the contract is contingent upon the buyer receiving financing. If this is the case, then a licensed third-party appraiser will decide the value for the lender. This is done so that the lending institution can verify/prove their investment in your property and make sure that the property is not being overpaid for.
We suggest that you only work with buyers that have a pre-approval, approval letter, or a written loan commitment. This will save you time and frustration.
Step 9: Final Walk-Through
A final walk-through will be scheduled for the week of the closing, usually the day before or the day of closing. This is used to reconfirmed any agreements that were made on the contract such as any items or fixtures that were supposed to stay or leave, as well as, to look for any potential outstanding issues that were supposed to be completed and addressed since the inspection. Lastly, this time is used to look for any potential new issues and to confirm the property is in the shape/condition that it was agreed upon to be in before closing.
Step 10: Closing
At this point, the closing agent will offer all parties involved with a settlement statement/closing disclosure. This statement provides a summary, as well as, details about all the financial transactions happening in the process. You, the buyer, and the closing agent will sign this statement to certify its accuracy. If you are not able to attend the closing in person, alternative arrangements can be made depending on the circumstances and if all parties are given enough notice of time. Lastly, you should have all pertinent information for the buyer at closing, including the property keys.