EDUCATE YOU IN YOUR HOME SELLING PROCESS
I believe that knowledge is power and I’m always happy to share my knowledge with my clients. You should be aware of every step in the home-selling process so that you never have to wonder what happens next. There’s more to selling a home than taking pictures, putting the house on the market, and showing it to potential buyers.
It starts with listing your home. Do you know what happens after you sign the listing agreement, and what is expected of you during this time period? Let’s go over them together:
The listing agent will open a title order to review the property prelim. The agent will then look over the title to identify liens, taxes, judgments, sub-standards, and anything else affecting the property.
Escrow will prepare a seller’s net-sheet disclosing all seller’s expenses, commissions, payments, and seller’s net proceeds.
The agent’s transaction coordinator will prepare all seller’s disclosures and will provide via DocuSign to the seller to complete and sign.
The seller is to complete all escrow instructions, sign grant deed, and provide all disclosures related to the transaction.
The Seller must then make the property available for buyers to perform inspections and investigations during the contingency period.
At closing, the buyer will perform a final walk-through. The property is to be ready to be delivered vacant unless otherwise agreed.
Sellers commonly pay the following at the closing:
- Mortgage balance & pre-payments (if applicable)
- Any claims against property
- Property taxes & liens
- Unpaid special assessments
- HOA transfer dues
- Real estate agencies commissions
- Legal fee or title insurance premium
Keep all closing statements and home improvement receipts for tax purposes.