The Selling Process

The process of selling your home can be a daunting and emotional project. It helps to understand the stages of the process to be better prepared for the roller coaster ride!

Preparing to Sell

Once you decide to sell your property, you should prepare the property to go “on the market.” Consult with your Realtor to create a customized preparation plan for your property. Action items may include:

  • Making repairs to the property.
  • Making the property appealing to buyers by painting, decluttering, landscaping, etc.
  • Obtaining inspections. While typically done by the Buyer, your Realtor may recommend that certain inspections be conducted if conditions warrant it.
  • Staging the home. Staging is anticipated by most buyers in today’s market and has a great cost benefit.

Establishing a Marketing Plan

Once you are ready to go on the market, your Realtor should present their marketing strategy for your property. This will often include having the interior and exterior professionally photographed and then listing the property on the Multiple Listing Service (MLS). The plan may also include:

  • Creating a brochure or flyer
  • Hosting an open house for agents
  • Hosting one or several public and/or neighborhood open houses
  • Advertising (magazines, social media, e-mail campaigns)
  • Targeting out-of-area markets (e.g. Bay Area)

Providing Seller Disclosures

Early on, your Realtor should provide you with Seller Disclosure forms to complete and sign. These documents offer the Seller an opportunity to share important information about the condition of the property to the Buyer. It is critical to complete the disclosures honestly and thoroughly.

Accepting an Offer

You and your Realtor should review any offers and work together to negotiate terms. Once you accept an offer, your Realtor should “open” escrow with a Title company. You will work with your Realtor and Escrow Officer at the Title company as you move through escrow. Your Realtor should provide you with an escrow timeline, which shows key contractual dates, including what date escrow will close. These due dates and closing date were agreed to in negotiation of the sale and are documented in the Purchase Agreement. 

Moving Through Escrow

Usually, the first action as escrow begins is for the Buyer to pay the Earnest Money Deposit. For the Seller, the first action is usually to provide the Seller Disclosures. 

Next, the Buyer has inspections conducted (e.g. home, pest). As the Seller, you must grant access to the property for these inspections. If applicable, the Buyer’s Realtor will present a Request for Repairs to the

Seller based on inspection results and disclosures. Your Realtor should assist you in negotiating any requests. Each situation is unique – your Realtor should guide you regarding your particular situation.

If the purchase is financed, you can expect an appraisal may be done to determine market value. Per the escrow timeline, the Buyer should remove contingencies for Inspections, Appraisal, Loan and any other documented terms. Within 5 days of the close of escrow, the Buyer and their Realtor generally conduct a final walkthrough of the property.

Your Escrow Officer should contact you to schedule to sign the closing documents. Once both parties have signed closing documents, the Title company works to get the funds transferred to the Seller. Once complete, the property is recorded with the county. Escrow is now closed, and you have SOLD your property!

Debbie Austin is a realtor associate (DRE# 01429175) with Keller Williams, Roseville and has been helping clients buy and sell property in the area for over 15 years. If you have a specific real estate question you wish to see addressed, contact Debbie at debbieaustin@kw.com or visit debbieaustingroup.com.