You have decided to sell your Newport Beach home, and there are many considerations to take into account with the sale of the home.
The first consideration is your timing: when are you planning on moving; do your children need to be in a certain area by a certain time frame to begin school; is there is a new career beginning? These are just a few things to think about when you are going to be selling your home.
Hire Your Realtor
One of the most important considerations when selling your home is selecting your Realtor.
When you are considering hiring a Real Estate agent professional, what criteria do you consider when you are selecting that Real Estate Agent. Do you talk to friends and family about who they used? A referral is always a good way to find a Realtor. Are you looking for a neighborhood specialist? Are you considering hiring a relative out of obligation . . .
Keep in mind, it is a business transaction from start to finish. Although it can be emotional when purchasing or selling a home, an experienced Real Estate agent can guide you through the process. You can always Google your neighborhood for the neighborhood specialist.
Do Your Research
It is imperative to do your research. Make sure that you talk to your friends and family for a good referral. Inquire about the experience. When you called to speak to the Realtor you are considering, did they return your phone calls in a timely manner? Inquire about how they will communicate their marketing activities to you if you are selling. Real Estate transactions are a two-way process. It is important for the Real Estate agent to adapt to their client’s expectations . . . some may prefer to receive communication via email or text, or weekly phone calls. These are all important considerations. Try and establish the parameters, in the beginning, to avoid any misunderstandings once you are working together.
Importance of Marketing
Another consideration is how your Realtor going to market your home. What is important to you as a Newport Beach home seller? Did your Realtor provide a detailed marketing plan? What is in the plan, are there press releases, open houses, and an important consideration in today's times is internet presence. That should be part of any professional in today's market.
Prepare Your Home to Sell
Once you have selected your Realtor, then it is important to prepare your home to sell. Listen to your the advice of your Real Estate professional on how your property will be shown to prospective agents, and buyers. Having a neat and orderly home, and provide some touch-up and maintenance items before listing it for sale.
The Realtor will put the listing in the MLS as this gives it the most amount of exposure.
Once you receive an offer on the property, your Realtor will present it to you, and you will decide if the terms of the offer are acceptable, or if you want to counter any of the terms. For example, some of the terms may include the length of escrow, contingency period, amount of earnest deposit, amount of down payment, loan terms (if applicable) and purchase price.
Once you have reached an agreement, then your Realtor will open Escrow. The buyers will deposit their earnest money into escrow, and the Escrow company is the neutral holding party.
Typically, the buyers will have their inspections done including a home inspection. The licensed home inspector inspects the home and provides a detailed home inspection report to the buyer. After this step, the buyers may have a Request for Repair. These are all negotiable items.
The inspections occur during the contingency period. In California, the language defaults to 17 days, however that can be changed and is a negotiable item.
Your Realtor is also responsible for ordering the termite inspection and any repairs, as this may be a condition of purchase and the buyer's loan.
If I can answer any questions about the selling process, please contact me.
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