Home Seller Guide

Appraisal

• Buyer pays for the appraisal

• The appraisal normally occurs after the home inspection period has ended

• The buyer's lender hires an independent appraiser to evaluate the property ensuring the value of the property is sufficient to the loan amount

• The appraisal takes less than an hour. The appraiser will need access into the home The appraiser will call me directly to set up a time

• There is a chance the appraisal could come in lower than the asking price

Prepare to Close

• Escrow received all necessary documents from agents and lenders The title company issues a title policy ensuring a clear and free title The owners title policy is paid by the seller

• The escrow company prepares all documents for signing

• I work closely with the buyer’s agent and escrow officer to monitor all documents arrive in a timely manner

Signing

You will sign all documents at the escrow office Signing usually scheduled 2-3 days before closing Signing and closing rarely occur on the same day

Closing

Closing is when the sale is recorded with the county and the funds are deposited Why does a closing get delayed?

Closing Costs

• The sellers pay closing costs

• Closing costs are based upon your sales price. The closing cost includes escrow fees, owners title policy, recording fees, and taxes (payment or refund, depending on the time of year).

• There could be other nominal fees as well.

• Escrow can prepare for you a Seller’s Net Sheet, which will lay out most of the fees.

Commission

• The Seller pays the Real Estate Commission on both sides The listing commission fee is 6%

• The commission is divided between the listing agent and the buyer’s agent.

• From each agent’s commission a fee is paid to their brokerage firm and then their brokerage pays the agent.

Listing Contract

As part of the listing contract the following language will be included:

If seller terminates this contact within 30 days of the active/listing date, the seller shall reimburse the listing agent marketing cost. Not to exceed $2,000.