This is a continuation from last month’s article. It is important to qualify the buyers which prevents unqualified buyers from wasting everyone’s time, including the Seller.
The Realtor should verify:
- Homeowners Association information and copies of restrictions and bylaws, fees and payment procedures
- Utility company information and average monthly bills is for the past 12 months
- Properties amenities and upgrades. Permits are researched through the municipality’s website.
The importance of offering a one-year home warranty for Buyers may make the home more attractive. Some companies offer Sellers coverage during the listing period.
The Seller Disclosure should be filled out and uploaded as an MLS attachment, along with the survey, floor plan or blueprints and any instructions to the Buyers’ agent.
Other duties include:
- Recommending staging to help showcase the home
- Hiring a professional photographer and videographer
- Verifying data entered into the MLS
- Showing instructions for buyers’ agents
- Placement of the appropriate yard sign
- Designing custom brochures for e-mail and print distribution
- Designing custom “Just Listed” cards for the subject neighborhood, and
- Accommodating and coordinating showings with any buyers and/or buyers’ agents.
Depending on the property and its location, your agent will schedule open houses and broker’s opens for additional local exposures.
Your Realtor will:
- Present all offers
- Explain all terms
- Negotiate all offers on behalf of the seller and
- Get all changes initialed for the fully executed “signed, sealed and delivered” contract and
- Submit any counteroffers to Buyer’s agent with a set deadline for his response.
Regarding the financing, your Realtor will:
- Obtain a copy of the buyer’s pre-approval letter
- Verify the approval with the lender through the buyer’s agent
- Request and receive a copy of the earnest-money check and
- Verify that those funds have cleared escrow.
The listing will be marked “pending” and let the inspections begin. Your Realtor will accommodate the buyers’ agent regarding the entry into the home for inspections and appraisal.
Repair request will be addressed and negotiated on behalf of the seller – of course, if the offer was presented and negotiated on the FR-BAR AS-IS, then there may not be any repair issues to discuss. However, the Seller may wish to fix items or issue a credit at closing rather than have the Buyer cancel the contract before the end of the inspection period because of repairs.
Other duties include:
- Making sure the Appraisal has been ordered
- Providing past sales, floor plans, surveys, and documents that assist the appraiser
- Delivering information to Seller if the appraisal comes in lower than the sales price and
- Renegotiating the sales price if the parties want to proceed with the contract.
The Closing Agent will coordinate the closing time pursuant to the date agreed upon in the Purchase Agreement. Your agent will follow up to verify that all documents have been received, schedule a final walk-through, and attend the Closing.
As you can see, there is more to getting your home sold than meets the eye. That’s why a proven checklist and an experienced agent is critical when selling and closing your home.