About the Selling Process

Many people believe selling their home will be simple. That they can, in effect, just put an ad in the newspaper and expect to sell the home. Others, however, believe there is wisdom in using a Real Estate Agent. When you use an Agent to sell your home, here is what you can expect, in terms of the sales process:

	1) The Listing - Your Agent will ask you to sign a document saying that they have the right to advertise your home, and that should your home be sold, they will be entitled to compensation. This is an excellent time to ask your Agent what they will be doing for you to earn their compensation.
	2) Presentations - Once your Agent is off and doing their job, your home will receive exposure. When this is happening, your Agent or other Agents will want to bring people by to see the house. Having your home in the best possible state (hyperlink the last fragment to the "Tips for Sellers to Improve the Value of Your Home" page) will help to ensure that your home gets the highest possible price in the shortest possible time.
	3) Open Houses - Your Agent may ask about having an Open House. In effect, the Agent will ask that you not be present for a few hours, and that they open your house to the public to come by and view. This will help with exposing your home to the largest possible audience
	4) The Purchase - With your home having been exposed to a large pool of possible buyers, you will most likely receive "Purchase Offers". These are proposals to purchase your home for a specified price, and with specified conditions. You and your Agent will work together to determine if the terms are acceptable to you, or if you would like to present a "Counteroffer", asking for a different price or terms.
	5) Escrow - Once an acceptable purchase agreement is made, and you are ready to begin the process of transferring ownership of your home, escrow will be opened. Escrow is a neutral third party that helps with the facilitation of the transaction, according to the terms of your contract.
	6) Disclosures - As a seller, you are responsible for disclosing certain legal matters to ensure that you are being forward about your property with your new buyer. Your Agent will help navigate you through this process of being sure you are meeting the legal requirements for a solid sale of your home.
	7) Inspections - A buyer normally has a right to enter the home being purchased (once a purchase agreement has been established) for the purpose of inspections. Most lenders will automatically require a termite report, a physical inspection, and an appraisal. Some buyers may also want to conduct inspections of the roof, foundation, etc (especially if the physical inspection finds a problem that might need to be addressed).
	8) Request for Repairs - After the physical inspection, you should expect to receive a Request for Repairs. This is a form the buyer uses to specify what they want repaired on the home before the purchase is completed. You must decide which repairs you are willing to complete, and the buyer needs to accept your decision, or they may have the option of canceling the purchase agreement.
	9) Funding of Loan and Close of Escrow - Once all parties have agreed to the condition the house will be in, and the lender is satisfied with the inspections and their results, escrow should be ready to close. When it does, the lender will wire the money to an escrow account, and escrow will go to the County Recorder's Office to transfer ownership of the property. You will get a check (or wire, if specified) of the money owed to you after any fees for escrow or other items you have agreed to is deducted from the total in your account.

Selling your home can be difficult. But the help of a Real Estate professional can make the experience so much easier. If you'd like more information on what I can do to help you sell your home, feel free to contact me. I'd be delighted to help you in any way that I can.

Jane Scrima
Stirling International Realty
201 E. Central Boulevard
Orlando, FL 32801
Phone:
407.581.5550
Cell Phone:
407.718.3358
Fax:
407.581.5551

jscrima@stirlingrealty.com