Step 1 of The Selling Process: Contact us for a complimentary market analysis.
A market analysis will supply you with current and relevant information about home value, based on recent comparable property sales. Your Realtor will discuss with you what your home could sell for in the current market.
Step 2: Interview and Hire a Realtor®.
We recommend interviewing several real estate agents to get a clear idea of what each Realtor® will do to list and market your property.
Step 3: Sign the Listing Documents.
- Listing Contract (between you and your Realtor®)
- Data Input form (the specific information to be published in the Multiple Listing Service )
- Disclosed Limited Agency (Representation of you by your Realtor® according to the Oregon Real Estate Agency)
- Property Disclosures (4 pages of questions regarding any and all information you need to disclose to the Buyer purchasing your home)
- Siding Disclosure (Required by the OREA)
- Smoke Alarm Disclosure (Required by the OREA)
- Lead-Based Paint Disclosure (only required if your home was built prior to 1978)
Step 4: Begin the Marketing Process.
Your Realtor® will extensively photograph your house and property. Preparing marketing materials for to promote your home is time-intensive, but it’s very important to present your home at its best to the purchasing public. Keep in mind that the marketing process is one that will continue until your property is sold.
Step 5: Receive an Offer for Purchase.
Once you have a willing and able buyer for your property, the negotiations begin. Upon mutual acceptance, your Realtor® will submit property disclosures to the buyer.
Step 6: Talk to Your Realtor® About Relocation Plans.
Your Realtor® can assist whether you are relocating locally, in state, or across the country. Be sure to ask how he or she can make the transition simplified and seamless for you.
Step 7: Negotiate Repairs.
Based on the inspection report, the buyer has the option to submit a Repair Addendum. This brings buyer & seller (and their Realtors®) back to the negotiations table to come to an agreement regarding any concessions or repairs.
Step 8: Perform Repairs Agreed Upon.
Keep in mind: though many repairs seem simple to the do-it-yourself-er, because you are in a real estate transaction, they may be required to be performed by a licensed contractor. Ask your Realtor® if you have any questions about what can be finished by you. Keep your receipts! The buyer may ask for them.
Step 9: Appointment to Sign at Escrow.
You will be contacted by the escrow officer of the title company where the transfer of title and funds will take place to schedule an appointment to come in and sign the final documentation.
Step 10: Pack Up! You’ve Sold Your Home!
Though nothing is finalized until the transaction has funded and recorded, it’s not a bad idea to begin the moving process. The contract between you and the buyer will specify how many days after closing you have to move out. (Sometimes it’s the day of closing, though!)
Step 11: Closing.
Closing officially occurs the day funding is released and the documentation is recorded with the county courthouse.
Published on: Nov 30, 2012