Seller's Guide

So you have decided to sell your property. You have come to the right place! Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.

Below is an overview of our services and how they benefit you.

Our Services

• Explain the basic real estate paperwork
• Do a Comparative Market Analysis to help determine your home’s value
• Help determine the right selling price in today’s market
• Assist you in preparing your home for sale by connecting you with trusted local professionals
• Market your home to buyers and other agents
• List your home on NancyJenkins.com, Zillow, Realtor.com and the MLS along with other real estate websites
• Extensively advertise your home locally
• Keep you up-to-date on current market activity
• Provide you with feedback from showings
• Negotiate and assist you with the purchase and sale agreement
• Negotiate on your behalf throughout the course of the transaction
• Our Closing Coordinator is in the office ready to answer any questions
  
• We work with the attorneys and lenders to ensure all documents are in order
• We attend your closing

Your Benefits

• Be more likely to get the highest return on your investment
• Decrease your days on market
• Understand all the terms, processes and paperwork involved
• Have exposure to more buyers and agents with qualified buyers
  
• Have current market information to make informed decisions
  
• Have a skilled and experienced negotiator on your side
  
• Have peace of mind that the details are being handled
  

You have control over:

• Price
• Terms of Sale
• Condition of Property
  

But you cannot control:

• Location
• Competition
• Market Conditions

Dangers of pricing above market value:

• True target buyers may not see your property because it’s listed out of their price range
  
• Buyers in the higher price point may compare your home to other homes at that price and consider it a bad value
  
• It may sit on the market longer and sell for less than asking price. MLS statistics show that the longer a home is on the market, the lower the sales price.
  

Here's how we will price and position your property for the highest return:

• Analyze current market conditions and sales prices of comparable properties
  
• Discuss your goals and needs
  
• Advise you about ways to make your property more attractive to buyers
  
• Create a comprehensive marketing plan targeting the most likely buyers
  
• Market your property to agents
  
• Keep you up-to-date on sales activity and market conditions
  

The Price Is Not Always Right.

“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position.

Negotiating The Right Way.

We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find an agreement that work for all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agents, we will guarantee a thorough and objective assessment of each offer to help you make the right choice.

The Initial Agreement and Deposit.

A Real Estate Contract is a legal agreement between a potential purchaser and the property’s seller. Laws vary from state to state, but in order to be a legally, binding agreement, the agreement may require consideration. The deposit is held in the closing agent’s escrow account pending the fulfillment of conditions or contingencies in the effective agreement.

Some important tips to keep in mind to streamline the process even further:

• Keep written records of everything.
  The state of Vermont requires all contracts to be in writing. All verbal agreements including counter-offers and addendums will be converted to written agreements to be signed by both parties. We will assist you in drafting all the paperwork for your sale and make sure that you have copies of everything.
• Stick to the schedule.
  Now that you have chosen your offer, you and the buyer will need to be aware of all timelines that mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process our team will keep you constantly updated so you will always be prepared for the next step.

Inspections and Appraisals

Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.

The Closing Agent

Either the buyer’s attorney or the bank will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.

Contingencies

A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.

Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These often include:

• Obtaining financing and insurance;
  
• Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
  
• Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.
  

Depending on the outcome of these inspections, one of two things may happen:

1. Either each milestone is successfully closed and the contingencies will be satisfied, bringing you one step closer to the closing; or
   
2. The buyer, after reviewing the property and the papers, requests a renegotiation of the terms or price of contract.
   
3. They may cancel due to an unsatisfactory inspection.
   

How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when your professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, we guarantee our expertise and total commitment to every customer, no matter what their situation is.

Loan Approval and Appraisal

We suggest that you accept buyers who have a pre-qualification from a lending institute. Those who have a lender’s pre-approval, approval letter, or written loan commitment is a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.

Closing Day

If you have come this far, this means that it is almost time for a congratulations, but not yet. Do not forget to tie up these loose ends:

• Final Walk-Through: More of a formality than anything else, the final walk-through takes place the day before, or the day of the closing. The buyer visits the property to verify that the property is clear of occupants and their belongings. They will check that everything is the same as when they last viewed the property, and that there are no extra items left behind.
  
• Cancel Home Services and Utilities: Before closing we will provide a list of useful numbers for the transfer of home services and utilities.
• Be Prepared: We are ready to assist you should an unforeseen glitch pop up, even at this last stage. If something at the property breaks down or the buyers’ loan does not pull through on time, there is no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a stress-free manner.