Phase 1–On the Market

  • You will have showings… or you won’t.
  • Expect a phone call from the showing agent so you can be prepared for the visit.
  • Have the home in showing condition every day.
  • Place your valuable items in a safe place.
  • Pets must be contained.
  • Lights should be on, blinds and curtains open, thermostat set at a comfortable temperature for the season, all rooms must be accessible.
  • If a problem occurs call me immediately at 703-726-3409 to report any problems.
  • Review the electronic updates about showing activity and market activity. Call me with your questions.

Phase 2–Measuring the Activity

  • Showing agents will automatically receive an email asking for feedback and interest.
  • You will receive a copy of the request email and a copy of the feedback email. We will discuss this feedback on our update calls.
  • According to NAR statistics, if you have many showings and no offers in the first two weeks on the market your home is overpriced by 5% and needs a price adjustment to prompt the sale.
  • If there are few or no showings in that time frame, a 10% reduction is necessary in order to realign the property with the competition and prompt buyer interest in the home.
  • My job is to keep you informed, updated, and focused on selling the home for the best price the market will deliver.
  • This will happen within the first 30 days or your home will become stigmatized and eventually sell for less.

Phase 3–The Offer

  • Think of your property as a product rather than your home.
  • When an offer is presented, analyze its merits as they relate to your goals.
  • Don’t feel “offended” by a legitimate attempt to negotiate a win-win sale for all parties.
  • Place yourself in the buyers’ shoes; based on the recent economic news wouldn’t you want to make certain you don’t overpay for your next home?

Phase 4–From Contract to Closing

Home Inspection

  • Allow access to the property for the home inspection.
  • Expect there to be issues of which you are not aware.
  • Consider the buyer’s response from the standpoint of moving the sale forward.
  • Either correct the issues requested or offer a monetary credit where appropriate.
  • Now that you are aware of a problem you must either fix it OR disclose it to the next buyer
    One in eight sales are cancelled as a result of the findings on home inspections

Appraisal

  • This is an independent valuation of the property required by the lender for financing approval.
  • If there is financing involved the contract will be contingent upon an appraisal.
  • If the appraised value is at the contract price or higher we can all breathe a sigh of relief.
  • If it is lower than the contract price there is a chance that the buyers will ask you to lower your price to the appraised value, to negotiate a middle point between the contract price and appraised value, or the buyers may cancel the contract if a satisfactory agreement cannot be reached on the price.
  • One in seven sales are cancelled as a result of low property appraisals.

Other important steps

  • Termite inspection
  • Title Search
  • Closing
  • Disbursement of your proceeds

Moving Checklist

  • Receive contact from Home Service Connections representative to provide vendor information.
  • Interview and schedule moving company.
  • Coordinate utilities transfer.
  • Distribute Change of Address information to family, friends, accounts.
  • Obtain transcripts of children’s school records.
  • Update driver’s license, voter registration, etc.

If you have any questions at all please call us at 703-726-3409 or email me at pamela.jones@longandfoster.com .

Phase 5

Congratulations! Your Home is SOLD!