Seller’s Transaction Timeline

Hi Friends!

This year I have been working with a lot of sellers so I thought I’d fill you in on what a typical timeline looks like from the seller’s end of a transaction.

1. Select a Realtor

2. Initial Consultation
-Review market analysis and comparable homes
-Establish listing price
-Sign listing agreement

3. Home Preparation
-Declutter
-Clean up
-Stage

4. Work with Realtor
-List and market the home
-Schedule showing and open houses
-Review offers
-Negotiate terms

5. Fully Executed Sales Contract
-Open escrow
-Buyer to deposit earnest money 

6. Prepare, Review, and Sign Documents
-Disclosures to be filled out and signed
-Escrow instructions to be filled out and delivered back to escrow

7. Grant Buyer’s Access to Home for Inspections
-Review and negotiate request for Repairs (if applicable)
-Request buyers to remove inspection contingencies 

8. Request Buyer’s to Remove All Other Contingencies
-Appraisal contingency
-Loan contingency

9. Sign Final Documents

10. Grant Buyer’s Access to Home for Final Walk Through
(if applicable)

11. Lender to Fund the Loan

12. Title Transfer to New Owners

13. Close Escrow!
-Buyers receive keys

14. Receive Final Check and Closing Package from Escrow

Your agent’s job is to help keep you on track every step of the way so you wont have to memorize this process. They should be aware of the deadlines for the buyer to remove their contingencies and for when your paperwork is due. They will also help you coordinate appointments with the buyers as well as handle any new negotiations that may arise during the escrow period. Hopefully this timeline has given you a snap shot of what to expect when selling your home and the general order of the process. As always, if you have any questions or if you are thinking of buyer or selling your home, don’t hesitate to contact me! cell: 310.387.4693 or email: laurenw@hmsold.com

How is the Real Estate Market Doing?

A lot of people have been talking about how interest rates are at a “historical low” so I wanted to expand on how amazing it really is to purchase a house in today’s market. Just a couple years ago, in 2012, the average rate for a 30 year fixed loan reached an all time low of 3.35%. The last time we saw anything close to this was back in 1951 when rates were averaging 4%. Fast forward to today we are looking at interest rates around 4.5% which is incredibly low and not half bad considering they have once reached a historic high of 18.5% back in 1981.

Because rates are so low we are seeing a surplus in buyers, unfortunately the main challenge these buyers face is the lack of inventory.  We are definitely in a “sellers market” where sellers hold the advantage between the two parties. If a home is listed at a good price, it is expected to get multiple offers, sell within the first week, and probably above asking price.  There is definitely a demand for homes and with home prices on the rise you can get top dollar with a fairly short turn around time if listed and marketed correctly.

So over all I would say the real estate market is doing great! We are in a time where it is not only beneficial to buy but it is also a good time to sell. How amazing is that?

As always, the market is continuously changing but I am here to be your local expert and keep you informed and up to date on the latest trends and news. Feel free to ask me any questions. Hope you are having a fabulous Weber Weekly Wednesday!

You can check out the interest rate trends here to get a better glimpse of where rates have been since 1971.

3 Top things to consider when selling your home

1. Curb appeal
It’s all about first impressions and the exterior of your home is the first thing buyers will see. At the very least, make sure your grass is trimmed and plant some fresh flowers to give it that extra pop of color.
2. Clear out all the clutter
A clean house is a happy house and buyers want to see that the past owner has taken good care of their home. Less is more and in some cases I would recommend my clients to get a storage space to have as minimal items in the house as possible. Put away all toiletries in bathrooms and make sure even your drawers, cabinets, and closets are organized. Buyers want to get a feel for the house and often will take a peek inside these spaces.
3. Hire a good agent to best present your home
Open houses are an important aspect to marketing your home for it’s highest value. Some things that I offer to my clients when holding an open house are:
-Tell all the neighbors that your home is for sale and send them a personal invitation to a private viewing 1 hour before open house to public. This encourages them to be your best advocates and spread the word to their friends and family that might be in the market to buy.
-Make the house as inviting as possible. The little things count like turning on all the lights in the house and playing some tasteful music. Another personal touch I like to add is baking cookies during the open house. People always comment on how nice the house smells when they first walk in. And who doesn’t like fresh baked cookies straight out of the oven?
-Marketing the open house with visible signs and of course on the internet. Most of the people that come through my open house have found it online. Some sights that lists open houses are: Trullia, Zillow, Redfin, MLS, etc.
-It is a policy of mine to have all guests sign in due to security reasons. This also allows for me to follow up with those that expressed some interest.

Here is a video of an open house I held last weekend in Redondo Beach. It is currently listed at $875,000 and accepting offers. Please contact me if you have any questions or would like more details on this home. 310.387.4693

Thanks for reading and happy Weber Weekly Wednesday!

https://vimeo.com/86466764