Sellers

Questions Before Selling

Answers to all your seller questions

Manage Showings

Once you’ve chosen your Keller Williams agent, and together have prepped your house for sale and set a price, you’re ready for the public to see your home.

What is a showing?

  • A showing takes place either at an open house, which is a scheduled session when anyone can come by without an appointment, or during an appointment scheduled with you or your listing agent.

How do I prepare my house for a showing?

  • Clean deeply.
  • Paint some or all of your house.
  • Do minor repairs such as caulking tubs and windows.
  • Make major repairs – if needed and in your budget, such as replacing your counters or appliances.
  • Stage your furniture to showcase your home’s best features.
  • Remove personal items such as family photos.
  • Declutter every surface and storage space.
  • Reorganize your closets and pack excess items.
  • Eliminate odors by cleaning the fireplace or pulling out musty rugs.
  • Add a color scheme with rugs or pillows if needed to warm up your home.
  • Upgrade your lighting or light bulbs to make your rooms brighter.
  • Spruce up the landscaping.
  • Power-wash your decks and sidewalks if needed.

What can I expect when showing my house?

  • Leave when your house is being shown. Buyers prefer to look at homes when they can move around freely and the owners aren’t there.
  • Make your house as available as possible. While it may be inconvenient to show your home at dinnertime or on weekends, buyers who can’t see a property when they’re eager may cross it off their list.
  • Listen to any feedback from buyers or agents about ways you can make your home more appealing.

Review Offers

Congratulations! You received a message from your agent that you have an offer on your home. Now you need to evaluate that offer and decide how to respond.

What is an offer?

  • The amount of the offer
  • An explanation of how the buyers will pay, such as cash or a pre-approval for financing
  • The terms – such as a request for closing cost help or contingencies such as the sale of the buyers’ house, a final mortgage approval, a satisfactory home inspection and an appraisal
  • Earnest money deposit – your agent can advise you about how big your deposit should be based on local customs and current conditions
  • Request for final walk-through
  • Time limit for the offer

How do I evaluate each offer?

  • The amount offered
  • Whether the buyer has included or waived contingencies
  • Where the funds are coming from, such as all-cash, a reputable local lender, a well-known online lender, or an unknown out-of-town lender
  • The proposed closing date and date of possession of the house to see if it aligns with your needs
  • Any special requests for items to convey or for special inspections

What happens if I receive multiple offers?

  • Accept the best offer. If one offer stands out above the rest, you can accept that one right away. But be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer hasn’t explained a plan for a possible low appraisal.
  • Counter all the offers to get a better price and terms. You can ask all potential buyers to give you their best offer by a certain deadline.
  • · Counter one offer that’s close to what you want. If you like one offer but think the buyers could do a little better, you can send them a counteroffer to see if they’ll accept it.

Prepare for Inspection

Most buyers request a home inspection as a condition of their offer. While a home inspector will dig more deeply into your home than a buyer, the preparation you made before your first showing should help you get ready for the inspection. Your Keller Williams agent can give you personalized advice, too.

What is a home inspection?

  • A home inspection is a thorough review of your home’s structure and systems by a professional home inspector. Buyers can use the inspection report to decide to rescind their offer if a major issue is uncovered or to request repairs if the contract is contingent on a satisfactory report. In some cases, a home inspection is solely for the buyers’ information and can’t be used to negotiate.

How is my house appraised?

  • Structural conditions such as the foundation, beams and floors
  • Roof condition
  • Mechanical systems such as heat and air conditioning
  • Appliances – to make sure they’re working, although some inspectors skip appliances that are not built-in
  • Plumbing – for leaks, rust and water pressure
  • Electrical systems such as grounded outlets and code violations
  • Safety issues such as stairs, handrails, mold or chimney maintenance

What’s not looked at during a home inspection?

  • Septic systems
  • Wells
  • Underground pipes and sprinkler systems
  • Swimming pools and spas
  • Playground equipment

How should I prepare for an inspection?

  • Clean your house.
  • Remove or crate your pets.
  • Make sure all your light bulbs work.
  • Empty your washing machine, dryer, oven, and dishwasher – in case they are inspected.
  • Make sure everything is accessible, including your attic, a crawlspace, your garage and any sheds.
  • Leave a note if anything doesn’t work and explain that you’re getting it fixed.
  • Provide documents about maintenance and repairs.
  • Leave your cell phone number for the inspector.
  • Leave the house.

Prepare for Appraisal

As you near the end of your home sale journey, you will need to pass one more test: an appraisal. Your agent can help you gather materials and prepare for the appraiser’s visit.

What is an appraisal?

  • An appraisal is an objective valuation of your property that serves as a safeguard for the buyer and the buyer’s lender. While the buyer pays for an appraisal, the appraiser actually works for the lender. While an appraiser may look at some of the same things as a home inspector, the result is an appraised value of your property rather than a condition report.

How is my house appraised?

Appraisers use as many measurable pieces of data available to provide an accurate value of your property, including:

  • Comparable properties in your area that are of similar size, age and condition
  • The condition of your home’s systems and structure
  • The square feet of your property
  • The number of bedrooms and bathrooms
  • Your location
  • The quality of your flooring, plumbing and electrical systems

Appraisers use as many measurable pieces of data available to provide an accurate value of your property, including:

How should I prepare for an appraisal?

Preparing for an appraisal is similar to prepping for an inspection. You should:

  • Provide a list of all major improvements to the home and the age and condition of your roof, heating and air conditioning system, and appliances.
  • Provide any permits required for home improvements.
  • Clean your house.
  • Provide full access to all rooms and spaces, including the garage, sheds, attic and crawlspace
  • Remove or crate your pets.
  • Leave the house, or at least stay out of the appraiser’s way.

How can an appraisal affect my home sale?

An appraisal could require a renegotiation if the property value comes in lower than the sales price. The appraised value dictates the maximum amount the lender will allow the buyers to borrow, minus their down payment. Depending on how the contract was written, if the appraisal is low, you can:

  • Ask the buyer to come up with extra cash to make up the difference between the loan amount and the purchase price.
  • Reduce your price to the appraised value.
  • Split the difference with the buyer.
  • Cancel the contract.

Close

While it’s tempting to focus on your next move, your Keller Williams agent is likely to remind you that until the closing is over, you have some final responsibilities as a seller.

What should I do before the closing?

  • Take care of repairs required by the contract.
  • Keep all receipts and invoices and before-and-after photos of repairs.
  • Gather all appliance manuals and warranties for your buyers.
  • Hire a mover.
  • Cancel all utilities for the day after you move.
  • Change your address.
  • Review all settlement documents, especially the settlement statement.
  • Clean the house.
  • Prepare for the buyers’ final walk-through

What’s included on a home inspection?

Sellers may or may not attend the closing, so you should consult your agent and the settlement company to decide what’s best. You can sign all documents before the official closing. Sellers’ expenses, which are deducted from the proceeds of the sale, include:

  • Final balance on your mortgage
  • Real estate commissions
  • Prorated property taxes, utility bills, homeowner’s insurance, and homeowners association dues

What’s next?

  • Receive the proceeds from the sale, usually by wire transfer.
  • Cancel your homeowner’s insurance “post-close” – to make sure you’re covered on that day.
  • Save your closing documents and home improvement records for taxes.
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