Serving Santa Clara County, California for over 30 years
Offices in Saratoga and Los Gatos, California

An overview of the home selling process:

1. Selling your home

Making the decision to move? There are a lot of things to think about: your new location, the status of your current loan and home equity, not to mention moving a family! Deciding that you definitely need to sell your home is the first big step in the process. Don't worry, I'll be here to help you along and answer your questions as they come up.

Have you thought of selling your home on your own?

Many people do, in the hopes of saving the costs of an agent's commission. Unfortunately, buyers who know that you aren't using an agent will often offer less money for your home.

In addition, placing ads and dealing with calls and visits from buyers at all hours can be costly, inconvenient, and time-intensive. Using a professional to help you sell your home can make the experience less stressful and more profitable.

2. Signing the listing agreement

Signing a listing agreement is the first step in allowing me to successfully market and sell your home. When we sign the listing agreement, we will need to indicate the asking price for your home. To arrive at that amount, we'll analyze past sales and the current competition by creating a Competitive Market Analysis (CMA). The CMA will help us determine the best price and terms to place on your home to get it sold promptly. Competitive and accurate pricing and terms are the most crucial things we can do to get your home sold in the time frame you want.

Most buyer activity occurs in the first 10 days after your home goes on the market. Buyers and agents will not take serious interest in an over-priced listing. In fact, an over-priced home can be used to make a similar, more competitively-priced property look more attractive. It could work against you and help your competition. We'll make sure that doesn't happen by continuing to reassess the market on a weekly basis.

3. Aggressively marketing your home

Exposure, exposure, exposure! I use an extensive and effective, multi-media marketing plan to get your home sold. This plan, combined with traditional marketing, effective pricing, and preparation will help us get your home sold promptly.

In today's market, buyers expect information around the clock, and many do a lot of their research on the Web.

The plan we come up with will be customized based on the target audience for your home.

I will also help you see your home through a buyer's eyes, and give you tips on how to set the stage professionally and effectively to improve the value of your home and improve your ability to generate full-price offers.

Contact me if you are interested in hearing my proposed plan in full - we can set up an appointment at our mutual convenience.

4. Receiving and accepting offers

The price was right and the marketing effective, and now we begin to receive offers. Offers should not be accepted or rejected based on price alone. I will go over the offers with you and we'll discuss the best strategy based on price, terms, and the qualifications of the buyers. All of these issues are important to the success of the transaction and must be carefully reviewed if we are to determine whether to accept, reject, or counter-offer.

5. Managing the escrow process

Escrow is a crucial stage of the transaction. The procedure can be complex, so timing and strict process management are imperative. Who does what? Who pays for what? When should each action item take place? And where does all this paperwork go?! During escrow, I will work closely with you, the buyer and his or her agent, and the Escrow Officer to make sure we take care of everything efficiently, and effectively. Nothing will slip through the cracks.

The Escrow process

After an offer is made and accepted, escrow is opened through a Title Insurance company. For first time buyers and even for seasoned investors, escrow can be a confusing stage of the process. "Escrow" is the holding of buyer and seller funds by a neutral third party until all requirements have been met by both parties. After all contingencies to the sale have been removed, the Escrow Officer releases the appropriate, prorated funds to both the buyer and the seller, confirms the recording of the transaction documents, and declares escrow to be closed.

Let's look at the high-level events of a typical escrow. This timeline will vary according to the specifications of the contract.

week 1: the offer

The offer is made and accepted.

Escrow is opened at a title company and the good faith deposit from the buyer is delivered to the Escrow Officer.

The buyer and buyer's agent review and sign disclosures, order inspections, and notify the lender of the purchase.

week 2 and 3: inspections

The buyer receives inspection reports and finishes reviewing disclosures. If any additional work needs to be done to fulfill the requirements of the contract, it is usually done at this time. In addition, the buyer generally increases the good faith deposit (often from 1% to 3% of the purchase price).

week 4 and 5: approvals and paperwork

The buyer and the buyer's agent do a final walk-through of the home for verification that contract terms are met.

Around this time, the loan is approved and the buyer signs the paperwork for the new loan and title transfer.

The remaining funds to complete the sale need to be wired, or a cashier's check mailed overnight or hand-delivered to the title company.

The lender funds the loan and the new deed is recorded at the County Recorder's office. The escrow officer releases the funds to the seller as necessary, and escrow is closed.

Why purchase Title Insurance?

In Northern California, Title Insurance companies hold most escrows, and buying title insurance is part of every escrow process. Title insurance came about to protect buyers and lenders from problems relating to the title to a property. Since the home you are buying may have changed owners several times, and the land may have gone through many more owners than that, there may be unpaid real estate taxes, liens, or mechanic's liens from many years ago. In the event that something like that comes up, it is necessary to have title insurance to protect yourself and your lender.

6. Congratulations!

Selling a home is quite a task, but we did it, and we got the best terms possible. Now you can concentrate on the new adventure that lies ahead.

You can be assured that I'll be here for you, ready to answer any future questions you may have and looking forward to the next time we work together.