Home Buying Lingo
Published | Posted by Dennis Mark Interdonato
Are you planning to sell your home? Regardless if this is your first time as a home seller or you’ve sold many homes, understanding the selling process can assure you that things are going smoothly. Successful transactions don’t just happen. It takes experience and professionals to navigate from staging to closing.
Who Are the Experts?
Real Estate Agent
Before you start, do your homework and find an experienced listing agent in your area.
Escrow Officer
Your escrow officer is a neutral third party. They take the terms agreed to by the parties and ensure they are fulfilled properly.
Timeline for Your Home Sale
Meeting With Your Agent
Your agent will tour your home and discuss your market value (including a comparative market analysis), timing, and financial goals in order to create a custom plan for selling your home.
Preparing Your Home for Sale
Typically, even a dated home can be spruced up with small changes in furniture placement, fresh paint, new lighting, and/or minor repairs.
Listing Your House
Once your home is ready for buyers, you will list your home and your agent will implement their marketing plan.
Offers
Once you receive offers, you will meet with your agent to review them together and determine how to respond.
Escrow Process for Sellers
The buyers will complete funding requirements, obtain an appraisal, and conduct a home inspection. As the seller, you will also complete any conditions you’ve agreed to, such as repairs or termite work.
Closing
Once all conditions have been completed, you will close the sale and receive the proceeds.
The sales process is a series of steps that you and your agent will take together.
Knowing what to expect, and when, can alleviate the uncertainty you might feel as a seller.
