Seller Guideline

Choosing the right real estate agent to sell your home to is one of the most important decisions. Depending on your broker’s choice, your home may sell in a week or not in a year. Your home is a very personal, important and valuable asset, and selling your home can be an emotional and complex endeavor. Numerous questions and concerns must be addressed, and the advice you receive can make a huge difference in your results. Subtleties of marketing, advertising, remodeling and/or upgrades, photography, internet exposure, staging, design, measurement, video shooting, timing and presentation, inspection, pre-market exposure, agent outreach and relationships, open house, pricing, etc. All of these make up the difference between a failure and a successful sale.

(1) Find out the price
It is good that the seller himself has some sense of the market price. You can also visit the Open House and compare the information on the houses sold around you to estimate the market price. However, it is said that it is really important to find a good agent because there is a limit to the seller’s ability to accurately determine the market price on his/her own.


(2) Determine a real estate agent
Finding a good real estate agent seems to be the most important thing a seller must do for a successful home sale.


(3) Fill out the Listing Agreement
As it is a contract that the seller will give the real estate agent exclusive sales rights, you should read and sign all pages. Determining the listing duration, listing price, and commission are the three most important things in a listing agreement.

It is also one of the seller’s jobs to discuss with the listing agent the sales strategy for the show, listing price, how to receive offers, when to repair the house, incentives, etc. You have to be interested in the right line and make a decision through active dialogue.

It’s not necessarily professional staging, but it’s very important to look good when selling a house. At the very least, it should be cleaned at least once. When selling a house, it is the seller’s most active interest and effort. It is also a task that requires the assistance of an experienced agent.

(1) Termite Inspection and Work
When selling a house in the United States, it is customary for the seller to do Termite Work and then sell the house (this varies by state, but the seller removes any elements that could damage the property in the future, and has an inspection certificate to show to the buyer). In the case of a condo, it is usually a few hundred dollars, but a large, old mansion can cost several thousand/tens of thousands of dollars.
Depending on the situation, this may be done before or after finding a buyer. Termite When the problem is small, it is okay to leave it to an agent to do it for you, but if the problem is severe and expensive, it is better for the seller to actively take care of it.


(2) Retrofitting (fixing a house to fit current regulations)
Smoke Detector and Water Heater Strapping are standard in all regions, and there are more state-specific requirements such as Gas Shutoff Valve and Impact Glazing. As such, each state and county has slightly different retrofitting regulations. This too, like Termite, is customary for the seller to do and then sell the house. The smoke detector can be done by the seller himself, but it is usually entrusted to a retrofitting expert. Retrofitting can also be done before or after escrow. The cost ranges from a couple hundred dollars to a few thousand dollars.


(3) Earthquake Retrofitting
In California, the Department of Building and Safety recommends that you check the condition of the Foundation up to houses built in the 1970s. Earthquake Retrofitting mainly works with Foundation Bolting and Cripple Wall Embracing, which usually costs about $2,000-$20,000 and takes 2-7 days. It is being more mandated and older homes can be a major stumbling block to selling a home without Earthquake retrofitting. This can also be done in advance or later in some cases.

(Documents from the seller giving the buyer various information about the house)
There are quite a few things that need to be disclosed. Some can be filled out by the seller before finding a buyer, while others must be ordered through different agencies after escrow is initiated.
Paperwork such as disclosure is one of the biggest reasons sellers should hire a real estate agent. A good real estate agent will guide you through everything, and should be a seasoned and meticulous agent. This is because the seller has no way of knowing whether the agent is doing the paperwork properly or not until there is a problem.

Usually, it is customary for the seller to vacate the house for Open House, Showing, Inspection, and Final Walk-Through. The inconvenience that comes with it has to be tolerated to some extent. It is recommended that you consider your home so that buyers can view the house easily and comfortably, while at least compromising safety and privacy.

When a buyer sends an offer, you have to decide whether to accept it right away or send a counter-offer. When multiple offers come in together, the decision step can be quite complicated and difficult. A good listing agent will guide you through this process for the best option possible.
Although a listing agent’s opinion is often taken into account, the final decision rests with the seller.

(1) Check and sign the escrow related documents
Escrow Instruction is a document that summarizes the important contents of the Real Estate Sales Agreement (RPA) and the basic policy of the escrow company. In addition, there are various documents that the seller must sign, such as Statement of Information and documents related to Withholding. Once the contract is signed and delivered to escrow, it is usually ready within a few days. You can have it delivered directly from the escrow, or you can go directly to the escrow and sign it later.

(2) Reply to repair requests
You must respond to the repair request sent by the buyer based on the inspection result. It is one of the biggest gateways to having a head-to-head consultation with a listing agent and a strategic response.
Here, almost all sellers lose their temper at some point because buyers usually come out stronger than they think.
Real estate bargaining must be sober from start to finish.

(3) Watch Buyer’s progress on appraisals, loans, etc.
Through the agent, you can watch with interest in whether your emotions are well and whether the buyer is progressing in the loan process. An agent who does the job right will give you an intermittent update on progress without even asking.

(4) Contingency Removal requirement
When the first seller and buyer sign a sale contract, they are not making a promise to buy and sell the house unconditionally. If there is a problem while checking the condition of the house, preparing for a loan, etc., a conditional protection clause that can terminate the contract within a set period is put in. This is called contingency. Inspection Contingency and Loan Contingency are the most representative.
However, it does not take this contingency to the end. The contingency period is usually around 2 weeks and the time specified in the contract is exactly 17 days, but it can be changed with the agreement of the seller and the buyer. When the contingency period expires, the buyer must remove the contingency. If the buyer fails to close escrow for any reason after clearing the contingency, the deposit may not be refunded.
When the contingency period has expired, when the seller requests a contingency removal from the buyer, if the buyer does not perform, the seller can rightfully terminate the contract. In this case, the down payment must be returned to the buyer immediately.

(1)Final Walk-Thru preparation (final check of house condition)
A few days before the end of escrow, the buyer’s final check of the condition of the home is called the Final Walk-Thru. Seller Take a look around the entire house in advance to avoid unnecessary trouble. During the Final Walk-Thru, sellers are encouraged to step aside.


(2) Grant Deed Notarization
It doesn’t matter when you do it, but usually you can go directly to the escrow when the buyer’s final loan document (Loan Doc = Loan Doc) comes out. If you are unable to go to escrow, you can also use Traveling Notary, which will incur an additional fee.

(3) Wiring Instructions
You need to tell Escrow in advance how you will get the remaining money from the sale of the house. Grant Deed Just let us know when notarizing.

(4) Check Estimate Closing Statement
The list of all expenses incurred during the escrow period is called the Closing Statement. You can check with the help of a listing agent to make sure there are no mistakes or overcharged items. Be sure to keep it safe as it will be used later on your tax return.

(5) Change of Services
Through the listing agent a few days before the escrow ends, ask the buyer if there is any service that the buyer wish to carry over. You should contact the utilities, cable/Internet and any other services at your home to either disconnect or transfer to the Buyer.

Once the house purchase and moving are complete, it is time to start repairing and managing the Deliver key and necessary information to buyer
Usually, through a listing agent, keys and other information that buyers need to know about the house are delivered. Therefore, it is important to clearly communicate and set a date with the buyer through the listing agent several days before escrow closes.

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