The Selling Process

While there’s no such thing as a typical homesale – each has a character and a flow of its own –
there are certain aspects you can expect. While local real estate practices may vary, here are
the basic activities that occur during the transaction, from receiving an offer to closing escrow.

Here are the steps for selling a home:
1) Choose a Listing Agent
    A listing agent will represent you and have a fiduciary responsibility to look out for your best interests.
  
2) Get Home Ready for Sale
    Prepare your home for sale by cleaning, decluttering and improving curb appeal.
    Hire a professional stager to stage your home, or ask your real estate agent for help in staging.
    Make repairs before selling.
 
3) Figure Out How Much Your Home is Worth
    A seller's biggest mistake is to overprice.
    Price your home in line with sold homes identified in a comparative market analysis report.
    Consider whether your market is hot, cold or neutral, and price according to the market temperature.

4) Market Your Home
    Your agent should identify the sizzling selling points & choose advertising words to sell.
    Approve your agent's marketing campaign to advertise your house for sale yourself.
    Take quality photographs
    Post internet listings online

5) Show Your Home
    If you're wondering about lockbox vs. appointments, you'll get more showings if you let agents use a lockbox.
    You've got only one chance (sometimes only 3 seconds) to make a good first impression.
    Prepare for an open house

6) Receive Purchase Offers and Negotiate
    Even if you receive a lowball offer, negotiate by issuing a counter offer.
    Consider making a counter offer contingent on buying a home, if market conditions warrant.
    Don't be afraid to make a full-price counter offer, if you are priced competitively.
    If you are priced right, prepare yourself for multiple offers.

7) Open Escrow / Order Title
    Your agent open escrow and order a title policy.
    Select a date to close based on when the buyer's loan will fund.
    Ask for a receipt for the buyer's earnest money deposit.

8) Schedule Appraiser Appointment
    Clean the house the day before the appraiser arrives.
    If you receive a low appraisal, ask your agent about alternatives.
    You are not entitled to receive a copy of the appraisal because you did not pay for it.
    If the buyer decides to cancel the contract based on an appraisal, ask your agent about your rights.

9) Cooperate with Home Inspection
    Get ready for the home inspector.
    Ask your agent to provide you with a home inspection checklist so you will know which items an inspector will want to see.
    Expect that the inspector will want access for an attic inspection and will look for a wet basement; prepare those areas for inspection.
    Prepare as well for the final walk-through inspection.

10) Obtain Seller-Required Inspections
    States that allow for termite / pest inspections make these reports public records.
    The fees for all inspection reports, even if seller-mandated, are negotiable.

11) Delivery Seller Disclosures
    All homes in the US are subject to lead-based paint disclosures.
    If you are aware of material facts, disclose them.
    Your title company should provide CC&Rs, but if you belong to a homeowner association, additional documentation will be required.

12) Negotiate Request for Repair
    Ordinarily, sellers do not need to accept a buyer's request for repair; however, buyers can generally then cancel.
    You are entitled to a copy of the home inspection report, if the buyers request repairs.
    If you do not choose to make repairs, a buyer might instead accept a closing cost credit.

13) Ask Buyer to Release Contingencies
    In California, contracts default to 17 days and the buyer must release contingencies.
    If you do not demand a release, buyers are not obligated to provide it.
    If buyers do not provide a release, in CA, sellers have the right to cancel.

14) Sign Title / Escrow Documents
    In northern California, you will sign escrow documents near closing.
    Bring a valid picture ID.

15) Close Escrow
    Your property deed, reconveyance & deed of trust will record in the public records.
    Title will notify you & your agent when it records.
    Depending on buyer's possession rights specified in the contract, you may be required to move on the day it closes.