Home Seller Guide 2022

Helping you

find Home

Sellers’ Guide

PRESENTED BY CARLY DORENDORF

“

I have had the pleasure of working with one of the most professional and competent Realtors I have ever met. Recommended to me by a close friend, Carly had simultaneously sold my friends their new home and the home they were leaving, each closing the same day! Carly provided sound advice for preparing and listing my two rental properties (at the same time!), actively seeking and working with potential buyers, and ultimately closing on both listings in the most expeditious manner one could possibly wish for. She was cordial with everyone involved, able to provide the lockbox code promptly even on short notice and odd hours for Realtors, workers, and delivery personnel. I truly enjoyed every moment working with Carly Dorendorf and recommend her highly for your next real estate endeavor.

Nancy U. Homes Sold in 92071 2019

”

Carly Dorendorf REALTOR® | DRE #01955730 Pacific Sotheby’s International Realty

Your Step-by-Step Guide to

The Home Selling Process Selling a home in today’s market can potentially be stressful and confusing, and it’s possible to leave thousands of dollars on the table. The contracts, marketing, negotiations, familiarizing yourself with the current market and pricing trends are some of the complications you will face when selling.

Your home is one of the biggest investments of your life, and you deserve the best service to feel confident and comfortable during this monumental step towards your new chapter.

The next section will outline the steps involved in this process, helping you understand what to expect when selling your home.

The Home Selling Process

1

FIND THE RIGHT REALTOR Selling a home is a complex process.

An experienced real estate agent will assist you every step of the way, answering your questions and acting in your best interests.

2

5

When offers are received your agent will review them with you and help decide on the best response. Having a professional, knowledgeable Realtor negotiating on your behalf will be critical during the offer phase.

• Offers may be negotiated.

• Multiple offers may be received.

• Seller can send a multiple counter-offer to the best offers.

Choosing the right pricing strategy is crucial in order to get those most qualified buyers to write offers on your home.

Once a pricing strategy is chosen, your Realtor will discuss a marketing plan to give your home maximum exposure. Your agent should be positioning and presenting the home in such a way that will portray the value of the property.

Hiring a knowledgeable, committed real estate professional will help ensure you have a great experience and that you do not leave any money on the table.

OFFER(S) PRESENTED/ RECIEVED

PRICING STRATEGY AND MARKETING PLAN

6

OFFER IS ACCEPTED The offer is accepted once all parties, buyer and seller, have signed the offer. It then becomes a legally binding agreement. The day the offer is accepted is considered “Day 0” for all the timelines in the contract.

A copy of the offer/purchase agreement is then sent to the escrow company – a neutral third party that ensures the purchase contract is executed and also handles the monetary aspects of the transaction.

3

PREPARE YOUR HOME FOR SALE Your Realtor should offer suggestions on how to enhance the value of your home and maximize its appeal to today’s buyers. This can include staging, cleaning, repairs, and/or upgrades.

4

Photographs of the property will be taken once the home is ready.

LISTING, MARKETING, & SHOWING YOUR HOME Once you home is listed for sale, marketing will commence – this may include print advertising, digital marketing, and/or posts on social media. An experienced agent will also take advantage of networking opportunities in order to provide optimum exposure for your home.

There will be showings and open houses. Your Realtor should keep you informed on how the showings go and provide feedback from other agents and potential buyers.

7

ESCROW OPENS The escrow process is typically 30-45 days, during which your Realtor will communicate with the buyers’ agent, escrow, title, the buyers’ lender, and other parties to ensure everything is on track.

The buyers will schedule an appraisal and a home inspection. Your Realtor will help you prepare for these important steps.

If a repair request is submitted by the buyer, your Realtor will go over how this can effect the sale and negotiate on your behalf.

You will provide disclosures, title will provide a title report, and the buyer(s) loan will be processed.

8

CLOSING Escrow will close on the date agreed upon between buyer and seller in the purchase contract.

The lender will provide a final loan approval to the buyer(s). Once the loan funds and the new title records, escrow will be closed and your home will officially be sold.

EARNEST MONEY DEPOSIT

CONTINGENCY

(Buyer) These funds are a part of the offer and need to be in the escrow holder’s account within 3 business days after the offer is accepted.

A contingency is a clause in a contract that sets the conditions under which the contract can be voided and the deposit returned to the buyer. Contingencies are negotiable.

DISCLOSURE

TITLE

Most states require sellers to complete a form that tells buyers what they know about their property. California sellers must disclose anything that affects the ‘value and desirability’ of the property.

An Owner’s Policy fully protects the buyer should a covered title problem arise with the title. The Owner’s Policy protects the owner for as long as the owner or their heirs have an interest in the property.

ESCROW

NET SHEET

Escrow is handled by a title company or an escrow company. The escrow company will pay off all the liens on the property after settlement and will record the transaction at the local county recorder’s office.

To have a better understanding of the approximate net proceeds at close of escrow, your Realtor can help put together an estimated net sheet. This will give a breakdown of many of the costs associated with selling a home.

ALL ABOUT

Pricing, Valuation & Negotiation Pricing strategy, property valuation, and effective negotiation are all crucial elements in the successful sale of your home.

Intelligent Pricing & Timing Pricing a home for sale is as much art as science,

Generally, fair market value can be estimated

but there are a few truisms that never change:

by considering the comparables - other similar homes that have sold or are currently for sale

• Fair market value attracts buyers,

in the same area.

overpricing never does.

Sellers often view their homes as special, • The first two weeks of marketing are crucial.

• The market never lies, but it can change its mind.

which tempts them to put a higher price on it, believing they can always come down later, but that’s a serious mistake.

Fair market value is what a willing buyer and a

Overpricing prevents the very buyers

willing seller agree by contract is a fair price

who are eligible to buy the home from ever

for the home.

seeing it. Most buyers shop by price range

Values can be impacted by a wide range of

and look for the best value in that range.

reasons, but the two biggest are location and condition.

Sales Price vs. Initial Price Properties that are overpriced initially may ultimately sell for the lowest price

Online

Valuation Tools

Many sellers have utilized automated home

estimate of value for what a home could be

valuation tools. Sometimes sellers are pleased

worth. Zillow has dubbed their version of

when the values appear higher than they

this automated valuation a”Zestimate”. They

expected, but many online instant valuations

disclose on their site that depending on where

come in far lower.

the home is located, their Zestimate could be off by as much as 40%.

Estimating a home’s market value is far from an exact science. These tools attempt to

Algorithms can’t make adjustments to reflect

provide greater transparency in home prices to

whether or not a home has been updated, how

homebuyers and sellers.

well it’s maintained, or esoteric values such as curb appeal and views.

How do they do it? By using data from: Online valuations should be used only as one of • Public records

many tools to estimate a home’s value.

• Title companies • County tax roll data

Ask your real estate professional for a

• Local multiple listing services

comparative market analysis, or CMA. Your Realtor can show you the most recent

Using this data, home valuation sites apply their own algorithm to come up with an instant

listings and sold comparables.

CMA vs Appraisal Establishing a home’s market value is equally important to buyers, sellers, lenders and real estate professionals.

CMA A real estate professional may prepare a comparative market analysis (CMA) to help sellers establish a listing price. The CMA includes recently sold homes and homes for sale in the seller’s neighborhood that are most similar to the seller’s home in appearance, features, and general price range.

appraisal is completed by a licensed appraiser, using guidelines established by the Federal Housing Finance Agency, which regulates federal housing loan guarantors such as FHA, VA and housing loan purchasers Fannie Mae and Freddie Mac.

APPRAISAL

An appraisal is a comprehensive look at a home’s location, condition, and eligibility for federal guarantees. Appraisers use the same data in their market research to find comparable homes as real estate agents.

Appraisers have additional guidelines from the lender to follow that minimize risk to the lender. They will take into consideration – and can adjust values to reflect – the speed of the market and whether prices are rising or falling.

If the buyer is receiving financing through a lender, the lender will order an appraisal.

A lender’s appraisal is a professional determination of a home’s value. The

When the appraisal is finished, the lender makes the decision on whether to fund the loan.

Although the CMA is used to help determine current market value, it does not establish the seller’s home value. The CMA is merely a guide to help the seller learn what’s happening in their local market.

When you get an offer(s) on your home, your Realtor will explain to you each point of what the buyers have offered. This includes:

Negotiating

with Buyers

• The offer price • The type of financing • Any closing cost credits • The amount of the earnest money deposit • The closing date they have proposed • Any inspections they are requesting • Contingencies of the sale • Any additional considerations If all terms are acceptable to you, you can sign and accept the offer and it becomes a ratified contract. If any terms are not acceptable to you, you can ‘counter’ their offer with edits to the conditions that you would like to change.

There could be a series of these back-and-forth counter offers until both you and your buyers agree to all terms or decide to withdraw or reject the offer.

When you are in the middle of back-and-forth negotiations, your agent is your best resource for keeping a perspective on how each item fits into the overall picture of the offer. Speculating on why a buyer may be requesting something is rarely helpful; they are trying to get the most favorable deal for the home, just as you are trying to have the most favorable outcome as a seller.

Once the offer is ratified, contingency timelines will begin for inspections, appraisal, and/or financing and you’ll start moving towards your closing date.

LOCATION

The Value of

Your Home

In a neighborhood of similar homes, why is one worth more than another?

That’s the question sellers have asked for ages, but the answer is simple: Every home is different.

When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price.

That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:

What is desirable or not desirable about where the home is located.

SIZE The square footage of the home impacts home value. The lot size. Number of bedrooms and baths. The quality and aesthetic of features and finishes.

CONDITION The more up-to-date a home is the more attractive it may be to buyers. Homes that are not updated or in poor repair sell for less as purchasers’ factor in the cost of updating and eventually replacing appliances and systems.

CURB APPEAL From the street, the home looks clean, fresh, and inviting. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.

Always be

PREPARED From showings to inspections, preparation is key. These six lists will help you get your home ready for what comes next.

Preparing Your Home

TO SELL

Preparing your home to sell will ensure a smoother sales process.

Home Selling Preparation 1.

Ensure all non-functional fixtures are in working order including: plumbing, electrical, garage doors, appliances, etc.

2. Make sure all lights are working and bulbs are replaced.

3. Check for any leaks at plumbing fixtures and correct as needed.

4. Ensure water heater is double strapped.

5. Have working smoke detectors in each bedroom and outside of all sleeping areas. Have carbon monoxide detectors outside of sleeping areas and one on each level of the home.

6. Organize closets and cabinets.

7.

Organize the garage.

8. Have any attic and crawl spaces accessible.

9. Box up/remove non-essentials.

10. Cut back any landscaping that is touching the house. Tidy up landscaping. Remove debris from yard.

11. Check that handrails, deck boards, stairs, etc. are secure.

12. Deep clean home interior. Have carpets cleaned as needed.

Preparing Your Home for

PHOTOS Having your home photo-ready is vital to creating a positive first impression to potential buyers.

Photo Shoot Checklist 1.

Turn on ALL lights and open window

5. Have all beds made.

shades/blinds. (Turn off ceiling fans) 6. Have yard and landscape tidy. Roll up any 2. Put toilet lids down, close closet doors, open doors to all rooms.

3. Remove items on counters in kitchen and

hoses, pick up pet waste, remove any toys and miscellaneous items.

7. Remove any pets from the property if possible.

bathrooms. Remove any magnets, etc. on refrigerator.

8. Have all areas of the home and any detached structures accessible that will be

4. Put all personal belongings away

photographed.

including: clothing, purses, backpacks, shoes, mail, paperwork, kid’s toys, pet food/water, pet toys, pet beds.

9. Sweep floors and vacuum carpets. Dust as needed and clean mirrors.

Preparing Your Home for

AN OPEN HOUSE Having your home ready for an open house is important to creating a positive experience for potential buyers.

Open House Preparation 1.

Turn on all the lights and open window

5. Put personal belongings away.

shades/blinds.

6. Sweep floors, vacuum carpets, dust, clean 2. Put toilet lids down, close closet doors, open doors to all rooms.

3. Turn on air conditioning if hot, turn on

mirrors. Clean sinks and toilets. Have all beds made.

7. Have yard tidy.

heater if cold. Open some windows for fresh air, weather permitting.

8. Remove any pets from the property.

4. Declutter countertops in kitchen

9. Have all areas of home and detached

and bathrooms.

structures accessible for viewing.

Preparing Your Home for

A SHOWING

Having your home ready for showings is important in creating a positive experience for potential buyers.

Showing Preparation 1.

Turn on all the lights and open window shades/blinds.

2. Put toilet lids down, close closet doors, open doors to all rooms.

3. Turn on air conditioning if hot, turn on heater if cold. Open some windows for fresh air, weather permitting.

4. Declutter countertops in kitchen and bathrooms.

5. Put personal belongings away.

6. Sweep floors, vacuum carpets, dust, clean mirrors.

Clean sinks & toilets. Have all beds made.

7. Have yard tidy.

8. Remove any pets from the property.

9. Have all areas of home & detached structures accessible for viewing.

Preparing Your Home for

THE APPRAISAL

Having your home ready for the appraisal is critical to helping ensure a successful sale.

Appraisal Preparation 1.

Make sure there are no exposed wires.

2. Fix any peeling/chipping paint on the interior and exterior. (For VA and FHA purchases.)

3. Put away all personal belongings.

4. Remove pets from the property if possible.

5. Turn on all the lights, open blinds/window shades to let in natural light.

6. Ensure water heater is double strapped.

7. Have working smoke detectors in each bedroom and outside of all sleeping areas. Have carbon monoxide detectors outside of sleeping areas and one on each level of the home.

8. Have yard/landscape tidy.

9. Have all areas of the home and any detached structures accessible.

Preparing Your Home for

THE HOME INSPECTION Having your home ready for the buyer’s home inspection is critical to helping ensure a successful sale.

Home Inspection Preparation 1.

Put away all personal belongings.

areas. Have carbon monoxide detectors outside of sleeping areas and one on each level

2. Remove pets from the property.

3. Ensure all non-functional fixtures are in working order including: plumbing,

of the home.

8. Organize under sinks so the home inspector can easily view the plumbing.

electrical, garage doors, appliances, etc.

9. Have any attic and crawl spaces accessible.

4. Make sure all lights are working and bulbs are replaced.

10. Check that handrails are stable, secure deck boards, stairs, etc.

5. Check for any leaks at plumbing fixtures and correct as needed.

11. Have yard/landscape tidy. Roll up any hoses, pick up pet waste.

6. Ensure water heater is double strapped.

12. Have all areas of the home and any detached 7. Have working smoke detectors in each bedroom and outside of all sleeping

structures accessible.

About

Carly Dorendorf

“

As a native San Diegan I cannot imagine a better place to call HOME. Having a home to love and enjoy is truly priceless. I feel that HOME is the place you get to be the truest version of yourself. It’s a safe place and a representation of your lifestyle.

I also believe in the value of owning real estate. It is historically one of the safest and most profitable investments you can make.

Helping people on their real estate journey has been my greatest honor. I look forward to helping you find HOME.

”

From the minute you meet Carly you know that she is someone you can trust. She listens to your concerns, answers all of your questions, and it is obvious that she really loves her job.

We have listed and sold two homes with Carly and both transactions went very smoothly.

She is a pleasure to work with and we would definitely contact her for any future needs.

The Smiths Sold a Home in 2016 and a Condo in 2019

The Most Value.

The Best Service.

CARLY DORENDORF REALTOR® | DRE #01955730

619.277.2883 carly.dorendorf@pacificsir.com

© 2022 Pacific Sotheby’s International Realty DRE# 01767484. All rights reserved. The information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. Pacific Sotheby’s International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with its consent.