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Home Selling

Understand the Home Sale Process

Selling your property is an important transaction.

A home sale includes multiple third party involvement, even if you don't use an agent. Understanding all of their roles is important to ensure a smooth transaction. 

Professional Involved:

Realtor

The 1st Step to the home selling process is to find a listing agent that will serve your best interest. A good listing agent will be prepared to present a Competitive Market Analysis, and a provide marketing strategy. If you choose to work with the Realtor, you will sign a Listing Agreement.

Professional Involved:

Realtor

The 2nd step occurs after you sign a listing agreement where you to select a listing price. Your Realtor can help you decide the right pricing strategy and to calculate your proceeds for different prices. But, at the end of the day, it is your home and you can select the price.

Professional Involved:

Realtor

The 3rd step involves you and your Realtor coming up with a plan to market your property. This is where you will decide if you'd like professional photography, videography, 3D tour, and where your listing will be displayed (i.e. Zillow, Realtor.com, etc.)

Professionals Involved:

Realtor

The 4th Step is your responsibility. Your Realtor can provide you with guidelines and details to help your property achieve a sellable look. Preparations include cleaning the exterior/interior, touch-up paint, removing personal decorations, eliminating pet odors, etc.

Professionals Involved:

Realtor

The 5th Step is where buyers will come and see your home. Most showings are conducted by your Realtor or the buyer's Realtor. Your Realtor will likely use a lockbox to allow the Buyer's Realtors access. You are in control of the scheduling. 

Professionals Involved:

Your Realtor

Buyer's Realtor

The 6th Step occurs when a Buyer submits an Offer. Your Realtor will help guide you on how to negotiate the price. They will be the liaison to negotiate on your behalf. In this step, you will also negotiate the contingencies for the contract. 

Professionals Involved:

Realtor

Mortgage Professional

Real Estate Attorney

Title Company

The 7th Step occurs after the offer is accepted. The buyer's earnest money will be placed into an escrow account and your realtor will order a title search

Professionals Involved:

Realtor

Mortgage Professional

Appraiser

The 8th Step is when the mortgage appraiser schedules an appointment with you to appraise the value of the property. The buyer is entitled to back out if appraisal results are negative.

Professionals Involved:

Realtor

Home Inspector

Real Estate Attorney

The 9th Step is where the home inspector conducts a home inspection. You may need be prepared to negotiate with the buyer if there are issues that need to be addressed because of the contingencies in the contract.

Professionals Involved:

Realtor

Real Estate Attorney

Mortgage Professional

Title Company

The 10th step is the closing. Your agent will walk you through the documentation. The title company will transfer the property deed and finalize the documents and cut the checks to the respective parties.

Have A Question?
Contact Us Today

If you have any questions about your situation, message us for answers to your specific questions.

 

We're happy to help anyway we can.

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HomeSalesTeam@PadScouts.com
312-312-7115

PadScouts, Inc.

4245 N Knox Ave

Chicago, IL 60641

© 2020 by PadScouts
Illinois Real Estate Company: 478027115