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
