The home selling process varies from state to state. However the basic process is the same. Homeowners in Georgia must decide whether to hire a listing agent or sell their homes FSBO (for sale by owner).
Choose your agent
A listing agent should guide you through the home selling process and be your advocate. It is recommended that you interview at least 3 agents and negotiate your listing agreement.
Prepare to sell
- Ask and use advice from your real estate agent on staging and arranging your home
- De-clutter and clean from the outside in
- Make repairs before listing the property
- If you have pets, make arrangements for them when showing
Determine sales price
- Do not overprice the property, have a pre-listing appraisal completed.
- Use a comparative market analysis to determine market value.
- Don’t forget to also consider the market movement and discount for slow times.
- If using an agent, approve the copy and pictures that will be used.
- Check the home in advertising sources in print and online.
- If you are a FSBO, check out sources to sell your home.
- Get professional photos taken
- Have a professional floor plan completed
- Make sure your home is ready for showing at all times.
- Get feedback from buyers for adjustments in condition or price.
Receive offers and negotiate
- Your agents should check required offer paperwork and pre-approval status of buyer.
- Counter offer even lowball offers that come in.
- If there is a contingency on the offer, ask for a kickoff clause.
Escrow and acceptance
- Your agent or buyer’s agent will deposit escrow check
- You will receive a copy of contract
- Check off or select a closing date and chosen attorney
- Get a receipt for Ernest money deposit
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- Make sure property is in best condition before appointment
- Appraisers are independent, trust your appraiser as much as you did when you qualified him/her before hiring
- If appraisal is low, ask your appraiser about his/her resources
- If appraisal price is lower than offer, purchaser may cancel
Home inspections are typically done within 10 days of the contract acceptance date. The inspector will need access to the attic and crawlspace. There will be a final walkthrough inspection so be prepared for that as well.
Other Inspections may be required
Buyers can do additional inspections as they wish. These include inspections such
as roof, termite, sewer, engineering, mold, etc.
- Sellers must complete a disclosure and should be honest about material facts.
- There may be a lead based paint disclosure on older homes
- Title companies should take care of CC&R’s.
- There may be additional information needed on some homeowners associations.
- Sellers are not required to accept a buyer’s repair request, however this can negotiated.
- If buyer’s request repairs, then the seller is entitled to the home inspection report.
- If a seller does not want to make repairs, the price of repairs can be a closing credit.
- The timeframes may vary state to state on these items, but they are required.
- Sign escrow documents.
- Seller must bring a valid picture ID.
- Property deed, deed of trust and conveyance record in public records.
- Title will be recorded.
- You may be required to move out before closing day, be prepared.
The home selling process is not a grueling feat with realtor guidance. If you are selling your home by owner, consult with your closing attorney for guidelines for your state and location.
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