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Selling

What to Expect When Listing

A detailed, step-by-step list of what to expect when listing with the Sam Team to sell your home. We strive to make this complicated process as straightforward as possible.

This will arrive via email.

Compare your home to Market Data.

Sign the Listing Agreement with Us

And establish initial Staging Consult.

Our Certified Home Marketing Specialists will help you get everything required to prepare for photographing your home.

Review MLS Data. You’ll see your home on HAR.com.

Provide property Survey, affidavit, Seller’s Disclosure, and related paperwork to the listing team manager.

Your key will be arrive via email. Login for access to market data for your home 24/7, and read “feedback from showings” on demand.

You will receive these via email. They will include scheduled showings, both online and in real life, and any feedback received.

We present any and all offers - regardless of amount - in writing for your consideration and decision. We then follow up with a phone call to discuss your options. When asked for our professional opinion is always available to you. Additionally, we provide guidance for timely responses to offers and counteroffers.

We utilize a variety of negotiation techniques. All negotiations are documented in writing. You will receive these via email before they are sent to the buyer agent.

Our goal is to create a documented ‘paper trail’ of all interactions between seller and buyer. Counterproposals are presented in writing first, then are discussed over the phone.

Offers must be accepted in writing. We utilize electronic document software to provide ease of signing. If you are in a Home Owners Association (HOA), it is at this point you may be contractually bound to obtain a resale certificate and related documents from your HOA. The HOA may charge a fee. You will also be required to sign that you agree.

A buyer has an “unrestricted right to terminate the contract” during the option period for any reason (or even without). The option period is designed for a buyer to have inspections done of the home to determine that it is in the condition they expect.

Inspections often reveal hidden issues (minor or significant) requiring repair which are then addressed during the option period. Examples of how to address repair concerns include: price adjustments, cash toward closing costs in lieu of repairs, actual repairs done by local contractors, etc. There is no way to anticipate repairs until the inspections are performed. The best approach is to “play the hand you’re dealt.” Rest assured The Same Team has worked through thousands of these issues, and we are prepared to provide the best guidance possible toward a satisfactory resolution and successful closing for you.

The commitment for title insurance will be forwarded by the title company with any deficiencies noted. This is when the title company will request documentation of your existing loan (if you have one) to obtain payoff information.

There will be a lag between the end of inspections/option period and the closing date while the lender finishes the loan documentation.
Here are some probable occurrences:

  • Loan is denied. This can happen even with preapproved loans.
  • Closing date does not occur on the estimated contract date (typically later).

Magical words to hear from the buyer’s lender! This means all lending processes are done and the file is ready to close. If there are any insurance issues, you will likely hear about them during this period.

Our Listing Management Team will schedule a time for you with the title company to appear. Typically, you will get your settlement statement prior to closing for review. At the actual closing, the title company representative will review your settlement, get you ‘signed off,’ and fund your money by check or wire transfer.

Please bring extra keys, garage door/gate openers, etc. to closing OR leave them on the kitchen counter.

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Determining the Value of Your Home

A Comparative Market Analysis (CMA) is essential to determine the value of residential property. Location and characteristics of the
property are the key elements in determining value. Therefore, the basis for valuation is similar properties in your area. The market analysis takes into account the amount received from recent sales of comparable properties and the quantity and quality of comparable properties currently on the market. The desired end result is to find a price that will attract a willing and able buyer in a reasonable time.

Once the value of your home has been determined, you can decide on an offering price that will achieve your goals. Generally, the price should not exceed the value by more than 5% or potential buyers may not even make offers. Naturally, if you want to sell quickly your asking price should be very near the value.

The following are a few things to keep in mind about pricing:

  • Realistic pricing will achieve maximum price in a reasonable time.
  • Your cost or profit desire is irrelevant; the market determines the price.
  • The cost of improvements are almost always more than the added value.
  • Houses that remain on the market for a long time do not get shown.
  • A house that is priced right from the beginning achieves the highest proceeds

The Importance of Intelligent Pricing

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Determining the best asking price for a home can be one of the most challenging aspects of selling a home. It is also one of the most important. If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwise be prime candidates to purchase your home. If you list at a price that is below market value, you will ultimately sell for a price that is not the optimum value for your home. As Figure 1 illustrates, more buyers purchase their properties at market value than above market value. The percentage increases as the price falls even further below market value. Therefore, by pricing your property at
market value, you expose it to a much greater percentage of prospective buyers. This increases your chances for a sale while ensuring a final sale price that properly reflects the market value of your home.

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Another critical factor to keep in mind when pricing your home is timing. A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed on the market (see Figure 2). Improper pricing at the initial listing misses out on this peak interest period and may result in your property languishing on the market. This may lead to a below market value sale price (see Figure 3), or, even worse, no sale at all. Therefore, your home has the highest chances for a fruitful sale when it is new on the market and the price is reasonably established.

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We can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

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As a second generation real estate agent, Sam learned early what takes to be successful helping clients achieve their real estate goals.

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