The Selling Process
Selling a home can be a stressful process and selling a home without representation can be a very costly mistake. Understanding the steps of the selling process upfront, however, can help to ease your fears so that you can focus on getting the most value out of your house!
1. Get Your Home Prepared
The process begins with getting your home ship/shape and ready to market. The better your home appears in photos and in person the more showings you will get and the more value you can expect to realize!
- If you have deferred maintenance projects, take care of them now! A meticulously maintained home shows better and generates more buyer interest. In addition, a buyer will ultimately discover deferred maintenance issues during the inspection, so it’s best to take care of the issues upfront when you’re in control of the budget, contractor-selection and timeline.
- Meet with Red Door Properties’ professional stager to de-personalize, de-clutter, arrange and accessorize. A well merchandised home will generate the most amount of buyer traffic through your home.
- Get your home cleaned including windows and ensure everything is in its place for a professional photography shoot. Red Door Properties will hire the photographer and use the photos to create both print and online marketing materials.
2. Determine Your List Price
A home’s market price is not based on what you need or want for it. Nor is it based on your County assessement, your Zillow Zestimate or what your neighbor thinks you should get for it. Home prices are based on the market and what a buyer will actually pay for it! Your job is to review all of the data, graphs and analyses produced by Red Door Properties to determine what the market will yield. We will be by your side during this process.
- Review Red Door Properties’ quantitative analyses and check your qualitative gut to determine a list price. The list price will be your decision (with our guidance, of course) and we will provide you with the information you need to make the right decision.
- Discuss non-price related terms such as inclusions, exclusions, desired timeline, etc.
3. Get Ready for Showings
Once your home is listed, buyers’ brokers will contact the Red Door Properties showing desk to set up showings. Your job during showings is to make sure that the house is “show ready” and then to leave!
- You will receive notice of showings and will have the ability to approve or reject each showing although the more showings you have, the more potential for offers, so we don’t like to decline showings unless there is a very good reason. Allowing access is extremely important!
- Get the house “show ready” by tidying up, turning on all lights, making arrangements for pets and children, putting down toilet seats, etc.
- Once the house is ready for the showing, find something fun to do during the showing window so that the buyer has time to properly view your home without you hovering!
4. Receive an Offer & Negotiate
Sometimes offers are simply accepted, but in most cases a little back-and-forth can be expected between you and the buyer.
- Receive an offer from a buyer. Review the offer and the key details in a Red Door Properties contract abstract. Are the price and terms what you want/need to sell and inline with the market? Do you want to counter, accept or reject?
- Red Door Properties will work with you to determine a negotiation strategy to arrive at the most ideal price, terms, dates, inclusions, exclusions, etc. that are acceptable to both parties.
5. Prepare for Buyer Due Diligence
In Colorado, real estate contracts are written to protect the buyer. They will have ample time to conduct inspections, review documents and work with their lender to ensure that the transaction can be completed to their satisfaction.
- The buyer will be spending a long time in your home during their inspection, so it is imperative that you get the home “show ready” again for the inspection to ensure that the buyer loves it as much as the first time they saw it!
- The buyer will hire an independent appraiser to provide their lender with an appraised value the home. The appraised value typically needs to be at or above the contract price. Again, it is imperative that you get the home “show ready” for the appraisal. Appraisers are people, too and merchandising your home properly for an appraisal can help increase the value determination.
- Prepare for your move!
6. Attend Closing
Once we have successfully moved through the buyer’s due diligence phase and they have received both a title commitment and a loan commitment, you’re ready to close!
- Ensure your home is clean and ready for the buyer. Collect keys and garage door openers and leave them in an organized fashion. Remove all trash and stuff from the home (the buyer doesn’t want your old gardening tools or dusty carpet remnants!)
- Bring a valid photo ID to closing. At the closing, you, the buyer, brokers on both sides and the closing agent will sign a ton of documents. The closer will facilitate the closing process.
That’s it! It’s that easy!