Starting with Choosing an Agent
who gives you a professional partner and
counselor to manage the entire transaction, provide
options and resources, and represent your best interests
from beginning to end so that no important elements are
overlooked. Bringing this person in at the very
beginning, even before the point of your selling
decision, provides for nothing to be omitted or
Valuation will give you the evidence of value “as is”
and what the return on your investment would look like
if you make some improvements prior to marketing. This
information makes it possible to establish your
Marketing Price and estimate your closing Proceeds.
Preparation. This step
allows you and your Agent an opportunity to come on the
market at your most attractive and prepared, having
performed any improvements to the property, verified any
unsure information, completed marketing materials, and
staged an impact opening, rather than drip campaign.
Consider very seriously that a savvy “staging” is much
less expensive than a Price Reduction! Another very
important step is assembling all the information a buyer
may wish to have or need to make their decision,
including carefully completed disclosures. “Unknowns”
create unsure and hesitation and lowers price offers.
Marketing is the
confluence of all efforts to sell, including what is
said and not said, and the creation of a sense of
desirability about the property and respect for the
We do not have a “pat” system, since beyond the basics
of Multiple Listing, Online Presentations and
Cooperating Agent Campaigns, different products call for
their own unique focus.
Offer(s) and Negotiation. Management of
offers to yield you your best price also includes
managing relations with all parties concerned so that
emotional issues and assumptions do not interfere with
the best result.
Inspections and Contingency
Resolutions vary with the degree of complication
of the property and the transaction. Using reliable and
respected resources during this time gives credibility
and protection to the parties. Most Agreements have a
17-day inspection contingency period, and 4 more days
for lender confirmation during which buyer’s deposit is
NOT at risk.
Escrow and Closing is the
process of administration of the Purchase Agreement, and
is as long as the lender, title and any other issues
require to achieve the terms of the Agreement. In
Southern California, most transactions do not require
attorneys to effect the transfer, but are managed by
licensed “third parties” called generally “escrow” who
coordinate all the pieces to effect the contract. There
is no general meeting between buyer and seller.
Basically upon acceptance the buyer will initiate their
hiring of professional inspections to answer any
questions, including general property inspectors and
usually termite inspections, and will add soils
inspections, plumbing and electrical experts, roofing
and/or other specific contractors to determine condition
and costs, and lenders will send appraisers to confirm
that the value meets agreed price. Sometimes during this
period amendments are made to the contract and escrow.
Once the transaction has all contingencies released,
buyer and seller are ready to make final repairs, if any
agreed, pack and make final moving plans and transfer
all utilities and other services agreed.
The “closing” occurs when the escrow receives
confirmation of everyone’s final satisfaction, receipts
and distributes the buyer and lender’s funds and records
the deed. Possession is delivered as agreed in the
contract from the point of recording “confirmation.”