Home Selling Timeline

So, I've heard that you are thinking about selling your home. Is that correct? Well, welcome, and congratulations—this is a big step in your life! Selling your home can be a complicated process that can take a while or a week. In this blog, we will go through the timeline of selling your home, from the first thought to the last signature. Let's jump right in. 

Pre-Listing Stage

Tour Home 

During the touring process, we will tour your home. No need to have it perfect quite yet! We will discuss the current market conditions and the timeframe you are looking at, whether you need to sell asap or have time. Sometimes, we may identify ways to improve some aspect of your home to maximize the value of your return. 

Prepare Comparative Market Analysis (CMA)

We begin by looking at homes similar to yours in your neighborhood that have sold within the last six months. While we aim to find three or four comparable properties, remember that no two homes are the same. This is where the math comes in. We assign a value to different features of your home. By calculating and comparing your property this way, we arrive at an accurate, competitive price for your home based on the surrounding listings.

Complete Listing Todo List

Preparing your home for listing can feel like a monumental task, but a well-organized approach can simplify the process. A clean and clutter-free space not only attracts Buyers but also highlights your home's best features. Use this comprehensive checklist to guide you through the steps of decluttering, cleaning, and finalizing your home to ensure it shines in photographs. Here is the link! 

Schedule Photos 

It's time for your home to shine! Our photographer will come over and shoot beautiful photos of your home with the best lighting. Our photographer is talented on the inside and out. After that, it's to the studio for a little editing!

Locate 

This section of the timeline is all about you and the items that will be transferred to the new owner of your home. You will need to find your abstract, all keys, and garage openers. Anything that is used to access your home that is for sale. 

List Your Home 

Sign Paperwork 

This is where you will have to put a lot of your John Hancocks on a lot of papers. We will fill out our listing packet which has all the different required documents to sell your home in Iowa. We will fill out an Estimate of Proceeds, a Seller's Disclosure, and a Lead-Based Paint Disclosure to name a few. 

Post your home! 

Posting your home for sale is the first time it can be seen by the masses. We will use the photos, and add a nice description that describes the best aspects of your home and the neighborhood. Then we'll post it on the Multiple Listing Services and send you the listing so you can track everything. 

Marketing 

The marketing aspect of the timeline is where we can gather a lot of views and attention on your home. We will post the home to every website like Zillow, Realtor, and Homes.com. We will also start posting on all of our social media and start running some advertisements to attract more people to your home. If desired, we host open houses to drive the neighborhood traffic to your home.

Manage 

We will let you know when showings are and what you should be before these showings. Feedback is hard sometimes to get back from the party that showed your home. Once feedback is shared, we determine if anything can be adjusted to accommodate their concern or minimize any issues for the next showings.

Negotiate Offers 

This is where we shine! We review the offers, give our opinion on the terms, and determine what your bottom line will be for each offer. If negotiations are needed, we work with you on the best counter for the best possible outcome. Purchase price, earnest money, approval letter, closing costs, closing date, and property included are the major points of an offer. 

Offer Accepted 

Sign Offer 

Congratulations you made it past the negotiations and you are ready to sign an offer. There are about 5-7 different agreements that you will need to sign or initial. After a fully signed purchase agreement, the Buyer will submit their earnest money within three days. 

Order Inspections 

Inspections are the biggest speed bump to get over through the closing process. The Buyer will order a general home inspection and a septic inspection if needed. This is to make sure they know everything that is at fault with your home. They will then take this information they gathered and negotiate with us if they want anything fixed or price reduced if it's a major fault. 

Sold Sign 

Once all contingencies are resolved and the closing date is set, we will add a sold sign to the yard sign. This is a celebration of all the hard work we went through and to let everyone know that you had a successful sale in your neighborhood. 

Bank Appraisal 

The Buyer's lender will order an appraisal to confirm the home value matches the loan amount. Before closing you will also receive a settlement statement outlining all costs and credits of the property, review this carefully. 

Final Prep

Clean your home thoroughly before handing over the keys. A clean home leaves a good impression for the new Buyers. Also leave all keys, garage door openers, and anything else related to your home. You can give them all passcodes to systems and leave them a list of the providers of those systems. You will also transfer utilities to the new owner, call your providers, and let them know what date you will be closing. 

Sign Documents 

This is the last and final stage of selling your home. You will sit down at the Attorney's office and sign all the paperwork involved with selling your home. This will be the deed, settlement statement, and all required disclosures. Your agent will normally attend the closing to answer any questions you may have about the closing. Also, contact the post office, utilities, and any subscriptions that you have that your mailing address is changing. Never “turn off” the utilities but rather ask for a “transfer” so that nothing breaks when utilities are trying to turn off water. 

Receive Proceeds 

After all documents are signed and funds are disbursed, your agent will deliver the proceeds from the sale or make arrangements to pick up at our office. Check with your financial institution if funds will be available. Some banks will place a hold on the check for a few days..

Conclusion 

Again, congratulations! Selling your home is a major life event that can be exciting and have its challenges. You are already heading in the right direction by reading through the timeline and process to understand every aspect. Remember that preparation is key to ensure a smooth and successful listing and sale. As you transition to this new chapter in your life remember to celebrate. Whether you're moving to a new home, exploring investing opportunities, or downsizing, selling your home marks the beginning of an exciting new journey.