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FSBO - What
To Expect
You are now ready to list your home on the MLS with our flat rate MLS listing
company. What happens next?
To Read our "Getting
Ready To Sell Guide":
The Listing
Process:
Once we receive your
listing web submission we will place your listing in the MLS system
usually the same business day!
Realtors® may begin to call you the
very same day you are listed in the
MLS. This is because the
MLS system is instantaneous and since Realtors® have the ability to store their buyers criteria in
the MLS, they can start calling immediately.
You may set up appointments set up to view your
home directly with Realtors®.
There is no
need to call us when setting up appointment times.
Before your first showing,
please be ready with certain forms and disclaimers to hand out to Real Estate agents
and buyers
interested in your home. One is the property Disclosure/Disclaimer
Statement. This is a mandatory form required by the state. Another
form you may be asked for is the Lead Based paint form if
your house was built before 1978. These forms and more will be available to you
in our forms library which you will have access to once listed. Be sure to print and fill out several copies
of the Disclosure/Disclaimer statement and/or Lead Based paint form and
hand it out anyone interested in your home.
There are a few things that you should
keep in mind when dealing
directly with real estate agents showing your house.
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In
general, the less you say, the better. It is sometimes difficult, if
not impossible, to keep from offering opinions or information that you
think makes the house more appealing. However, it is usually hard to
guess the factors that are important to each potential buyer.
Here are some examples of everyday subjects we recommend staying away
from and why.
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How many children there are in the neighborhood. Even if the buyer has
children, you have no way of knowing whether they would like a lot
of children or none at all in the area.
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How great your neighborhood church/synagogue is. Religion can be a touchy subject
no matter who you are speaking to!
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How quiet the neighborhood is. They may want a more social
atmosphere.
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The 'newness' of particular items in the home. The term
"New" is a relative term. What you consider new, may
be old to others. For example, an item that is 2 years old may
be new to someone who has lived in the house for 15 years, but it may be old to a buyer who thinks of new as anything
less than 6 months old.
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Information on existing warranties. They may expire before the
new owners close on the house, or they may not be
non-transferable. It may also imply that something could be
wrong with your appliances or house.
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How many showings you have had. If you have had a lot of
showings or no showings at all, buyers may wonder why no one else
is "jumping" at the home.
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You may
even want to avoid talking about little things such as the beautiful birdbath in the backyard
or the flowers that bloom every month. These things could be misinterpreted.
The buyer may not want bird "messes" or may be allergic
to flowers.
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We also suggest not offering reasons why you are selling.
The death of a family member, you've outgrown the house, the home
is too small for you, your recent divorce, etc can all be
interpreted in many different ways which may result in the loss of
a sale.
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Regarding offers, if the buyer is working with a real estate agent, the agent will
write up the offer and deliver it directly to you. If the buyer
is not working with an agent, either you or the buyer may write up the
contract offer. Once listed with us, you will have complete access to
contracts and addendums in our forms library.
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Once you have a contract offer on your
home you should decide if you
would like your contract reviewed. Any title company or closing attorney can review the contract for
you. If you plan on using that company for your closing, they
may do this free of charge. Once the title company or closing attorney is selected (usually by the buyer) simply drop off
a copy of the sales contract to them. They will do the rest.
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Once you have accepted a contract
which is signed by
all parties, you will need to notify us within 2 days by sending us a
copy of the sales contract and a completed Under Contract form
(provided to you once listed). The Under Contract form gives us vital information we
need in order to process your sale for closing. Homes remain active in
the MLS until the form and your sales contract are received, so time
is of the essence. By law,
as your listing agency, we are required to maintain all documents
related to the sale of your home for 3 years after closing.
This law applies regardless of who sells the house, you or an
agent.
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Typically a home
inspection is called for in the contract. Home inspections are
always conducted by the buyer for the benefit of the buyer. There is no reason for you to get involved. Generally, a contingency is created in the sales contract to allow the buyer and the buyer's inspector to visit your property within 3-5 days
of the signing of the contract to inspect the property for deficiencies. If any are found, an addendum with requested repairs will be provided to you and you may agree to repair certain items before
closing, decline to repair, or agree to a cash allowance. Once all contingencies are removed, you are on
your way to closing!
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Finally the day of closing has arrived, and is generally very easy for sellers. At the
closing table, the attorney will go over
your Hud-1 settlement statement with you. The Hud-1 settlement
statement is an
explanation of expenditures and distribution of proceeds for both the
buyer and the seller. After the Hud-1 is explained, you will simply sign the title. That's it!
You usually collect your money within a day or two, once the sale has been recorded.
Don't forget we will need a copy of the Hud-1 settlement statement
within 48 hours (2 days) of closing! Most closing company's are happy to
fax a copy to us at your request.
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Now relax and
enjoy the fact that you saved thousands of dollars by listing on the
MLS with our flat rate listing service, Carolina Listing Express.com.
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