The Process of Selling Your Property
I introduce myself and my qualifications and those of Jameson/Sotheby’s:
- We will review the marketing plan.
- Complete listing agreement and appropriate riders and disclosures.
- Explain sale process as follows:
- You will be notified before every showing with a minimum of one days’ notice unless otherwise agreed.
- Either I or my assistant will do all showings unless otherwise agreed.
- You will receive feedback regarding the showings – ideally the showing agent will provide us with thorough feedback from their client.
- Periodically we will review status and make any necessary adjustments.
- Answer any questions you may have regarding my qualifications, marketing, and the process itself.
Upon the receipt of an offer, the process is as follows:
- You will be contacted that we have received an offer.
- We will either then meet or discuss over the phone the terms of this offer.
- We will again review the comps and market situation in comparison to the terms of the offer to determine if and what our counter will be.
- I will contact the buyer’s broker to negotiate the counter offer. We may negotiate back and forth multiple times.They may or may not accept our counter offer. At that time we will again discuss our next step.
Once everyone involved agrees on the terms of the offer:
- The contract is signed by the seller and everyone receives a copy. Time is of the essence.
- Sellers and buyers contact their attorneys.
- Acceptance is when the buyer, their agent, or their attorney receives the signed contract. At which time the “clock starts ticking”.
- Copies of the contract are forwarded to the attorneys for their review as outlined in purchase contract – the attorney approval period generally lasts 5-7 business days.
- Copies of the contract are forwarded to the lenders and condo associations, if applicable.
- Buyers may or may not do an inspection as outlined in purchase contract, generally 5-7 business days after acceptance as this time frame runs with the attorney approval. After which, items of inspection are negotiated between seller and buyer through their respective attorneys.
- Buyer contacts their lender/mortgage broker and proceeds with loan application as outlined in purchase agreement.
- Listing agent coordinates any requirements by condo association, if applicable.
- Listing agent obtains certificate of insurance and paid assessment letter for condo, if applicable.
- Listing agent provides attorney with any additional documents.
- As outlined in purchase agreement, terms of attorney’s approval, property inspection and mortgage requirement are met in a timely matter.
- 24-48 hours prior to close of escrow buyer may opt to do final walk-thru.
- Close of escrow takes place and moneys are distributed.
Note: Is important that all terms of the purchase agreement are met in a timely and responsible manner otherwise it may constitute a breach of contract.