Seller’s Order of Operations

Thank you! I’m delighted to work with you as your Listing Agent.
I’m here to assist you in preparing your home for sale at the highest price in the shortest amount of time!

Staging your home is usually essential.


Here are the steps to complete the listing process for ‘Selling Your Home’.

First Steps:
• Signing the Listing Agreement
• Approving the GSMLS input sheet
• Discussing Agency Relationship
• Agree on a Listing Price- after careful study of the Market
• Lead Paint and Sellers Disclosure Statement completed
• Professional Photos taken-Glossy Brochures created
• Listing launched when entered into the GSMLS
• Keybox placed (for brokers use) on front door or nearby
• “For Sale” signs ordered and installed on property away from utility feed-lines
• ‘Listing’ is entered into ~20 websites with interior and exterior brochure photos
• Broker and Public Open Houses + Target Marketing will bring you to the next step in the process.

Your First Offer
• Your First Offer is frequently your best offer!
Many buyers have been dutifully studying your local Real Estate market and often know their preferences.
The initial offer that you receive in the form of a signed contract is often ‘to get the ball rolling’.

You’ll be presented with a contract that will include:
• Purchase price,
• Initial deposit and the date of the 2nd deposit,
• Amount of cash,
• Type and amount of the mortgage and ‘contingency’ date,
• Mortgage commitment date,
• Home inspection timetable,
• Closing date.
The above 7 items are ‘terms’ of your offer.

Contingencies:
• The mortgage and home inspection are contingencies.
• Frequently, the purchase of a home is ‘contingent upon’ the buyer obtaining a mortgage.
• Sometimes the buyers’ contingency will include needing to sell their present home.
• Settling of home inspection issues are frequently another contingency.

Negotiating to an ‘Accepted Offer’:
• Rarely, is a buyers’ initial offer 100% acceptable- usually the seller replies with counter offer(s).
• Discussing, negotiating and compromising on the terms of the offer with the buyer and seller through their Real Estate Agent are essential.
• All of the ‘terms’ become acceptable
• You’ll reach an agreement and once you’ve signed the updated contract, you’ll have an Accepted Offer.

Attorney Review:
• Attorney Review begins once you’ve agreed to the terms, have signed the contract, now have a Fully Signed Contract.
• Attorney Review can last 3 days or less if the terms are simple- or longer than 3 days if the attorneys need to iron out complicated details of the contract.
• When the attorneys discuss the contract and terms are agreed, Attorney Review is complete- both parties are legally bound to the contract, you’re Under Contract.

Inspections:
• Buyers schedule their Home Inspection.
• The buyer’s Home Inspector and their Realtor will meet at your house.
• They’ll evaluate the structure and integral systems of the home.
• The Inspection Reports are quickly forwarded your attorney.
• There’s usually a 10 day to 2 week window for the buyers to request repairs from you, the sellers.
• From the report, you and your attorney will discuss and then strategize which repairs (if necessary) require further negotiation –
The inspection is often used to negotiate repairs or monetary credits which are given at closing. When repairs are made, it’s essential to forward the paid invoices to your attorney for proof of completion.

Under Contract:
• You’re ‘Under Contract’ when Attorney Review is complete – The 2nd deposit has been put into one of the attorney’s (escrow) trust accounts
• If your buyers are paying cash and you’ve seen their ‘proof of funds’ documents, you won’t need to concern yourself with a ‘Mortgage Commitment Date’.
• For most buyers, ‘The Mortgage Commitment Date’ is when the contingency for their mortgage (which will finance most of the house) expires.
• We monitor the progress of the mortgage commitment, paying attention to the appraisal, and all other documents that are ‘conditions’ for your buyer attaining the mortgage from their lender.
• Obtaining Homeowners Insurance ( and flood insurance etc.) is one of the biggest conditions.
• Maintaining: great ‘credit’ and proof of employment are other important conditions that their Lenders’ Underwriting department will have to approve.
• The Certificate of Occupancy and a Fire Inspection certificate will need to be ordered, paid for, scheduled, and delivered for the closing.
• Packing and Movers have been scheduled.
• Home Inspection repairs are completed.

The Closing:
• The walk through is scheduled by the buyers’ realtor just prior to the closing.
• During the pre-closing walk through the buyers are checking to make sure that the house is delivered as expected – in clean condition with all of your personal belongings removed from the house – the vacant house should be delivered to your buyers in “Broom Clean Condition”.
• Preparations for the transfer of the utilities to the buyers’ names should be complete.
• At the closing or before the closing, your attorney will review all of the pertinent documents with you.
• The exact closing costs will be determined right before the closing- the detailed itemization of your closing costs, transfer fees, exit taxes if necessary, commissions, and the balancing of the homes’ expenses are presented to you for your review in the form of a HUD- RESPA statement.

In the final moments of the closing you’ll transfer the title and the keys to your buyers for their new house. You’ll also receive (if applicable) the remaining proceeds from the sale!

© 2022 Jen Lieberman | 973.477.2301 | Email Jen | Website by TesslerDesigns