Set a Viewing

There is no substitute for an in-person tour. Being able to walk through your home will allow us to give a real estate of value. During this time we can discuss the selling features of your home and formulate a strategy to list and sell your home.

Comparing the Comps

After viewing your home, we will compare it with similar homes currently listed for sale and also with ones that have sold in the recent past. This will allow us to finalize what we feel the best list price is based on viewing your home and comparing market data.

Signing the Listing Agreement

After we agree on a list price, you will best asked to sign a listing agreement that will outline the terms of our working relationship. It will also spell out the responsibilities/liabilities of all parties involved in the transaction. This is a standard part of every real estate transaction.

Prep Home for Photos

At this point, we need to prepare the home for photos and potential showings. We want your home to look and show its best. This is a key part in marking and ultimately selling your home. It can be tempting to leave the home “as is” and just snap a few quick photos on your home and call it good. However, this great disservice to yourself. We, the listing broker, will pay for professional photographers to shoot your home. This gives it the best look and exposure to a large market of potential buyers.

We List Your Home

With a professional photo shoot and evaluation of your home, we will take this data and list your home on the CRMLS. This is the biggest and most widely used MLS in all of CA. Listing your home in the MLS will allow it to filter out to 3rd party sites such as Zillow and Realtor.com. This allows for maximum market exposure.

We Show Your Home

Once listed on the MLS, we will start receiving calls for showings. Other agents will want to walk through the home with their buyers. For this part, we ask that you as the owners, if still living in the home, not be present for this. Buyers feel most at ease when they are allowed to view the home in private. However, this does not mean strangers will be in your home unsupervised. At all times buyers will be accompanied by a real estate professional.

We Market & Negotiate for You

During the showing process, we are working to negotiate on your behalf and talk to agents to sell them on your home and encourage the best potential offer. After a reasonable amount of showings, answering agent and buyer questions, we will likely receive an offer/offers on your home.

Evaluating & Accepting an Offer

If multiple offers are received, an evaluation will be made to determine the offer that best suits the needs of you, the seller. After we have decided, we will sign the offer and return it to the buyers, thus, accepting the offer.

Opening Escrow

After both the buyer and seller have come to an agreement on price and terms, escrow will be opened and executed according to the terms of the accepted offer. During escrow which is usually 30 days (but may be shorter or longer), the buyer will have a chance to do their “due diligence”. This means, perform any inspections and requesting any repairs be made if any.

Removing Contingencies & Closing

After the buyer performs inspections and any repairs are completed, the buyer will be asked to remove all contingencies. This means they will no longer be able to back out of the sale without risking losing their initial deposit. When a buyer does this, they are “all in” so to speak. Not long after this escrow can be closed and all parties involved can receive their funds or home.

Communicating with Your Agent

We need to have a clear understanding of exactly what you are looking for. What you do and don't like. What you must have and what you can live without. Meeting in person is best. This usually starts with us setting a few showings for you. Walking through a home together we can discuss your ideal home.

Viewing Homes

Usually, it takes buyers seeing at least 4-5 homes before they have a good idea of what they are looking for. We will gladly show you any homes you desire to see. Every viewing is a positive thing. It helps us narrow the field on exactly what you want in a home.

The Right Home & Submitting an Offer

Once we have selected the right home for you, we will submit an offer. This involves you, the buyer, signing an agency agreement that outlines our working relationship and the responsibilities/liabilities of all parties involved. The offer agreement will state the offer price/terms the buyer is happy with. Once signed by the buyer, the offer will then be forwarded to the seller for their consideration.

Negotiating the Offer

The seller may have multiple offers to consider. This is where our expertise as an office will really serve the buyer well. Part of our job is to help you write the most attractive offer that will give you the best chance at getting an accepted offer. We may receive back a counteroffer and will have to consider that accordingly. Especially during this phase, our office expertise will help advise you on the best course of action.

Accepted Offer & Opening Escrow

If your offer is accepted, escrow will then be opened and executed according to the terms of the offer agreement. The buyer will be asked to make an initial deposit within 3-5 days after the date of acceptance.

Due Diligence

After opening escrow, the buyer will usually have 17 days (this may be shorter or longer) to perform their “due diligence”. This means we will conduct inspections of the interior/exterior to make sure you as the buyer are fully aware of any and all material facts. This may include damages to the home, broken appliances, etc.

Request for Repairs

While conducting our inspections, the buyer may become aware of some issues that concern them. It is at this point the buyer has the option to make a formal “request for repairs” to the seller. That is, formally requesting in writing that the seller fix X, Y, and Z before the close of escrow. Sometimes, in place of actual repairs, the buyer may choose to receive a credit from the seller in the amount of the repairs costs at the close of escrow. Or in the end, regardless of any damages, the buyer may choose to accept the home “as is” and make no request for repairs.

Buyer Contingency Removal

Usually after 17 days (can be shorter or longer), the buyer will be asked by the seller to remove any and all contingencies. Once the buyer does this, they have given up their right to back out of the sale without any repercussions. I.e. losing their initial deposit. A buyer who has removed all contingencies can be said to be “all in” on the transaction.

Close of Escrow

After removing all contingencies, and funding has been received by escrow from either the lender or the buyer, escrow can be closed. This will complete and close the transaction and you will be handed the keys to your new home!

Determining Approx. Down Payment/Loan Amount

Initially, you will want to have a good idea of how much money you can afford to “put down” on a piece of real estate. This will help you determine how much you will need to borrow from a lender, and ultimately the price range of the home you can afford.

Vetting Lenders

Usually contacting 2 or 3 lenders is a good idea. Every lender works a little differently and offers different lending products which suit specific financial needs. Not to mention one lender may be able to get you a better rate than another. A simple phone call or quick meeting in person can help you as the barrow understand what products the lender offers and if any would best suit your needs. Whichever lender you choose, they should be trustworthy, communicate clearly and honestly, and you should feel comfortable calling them as you will likely have many questions throughout the process.

Selecting a Lender & the App

Once you select a lender, they will ask you to fill out a loan application. This may be done in person or some may have you fill out the app online. They will inquire about your financial background such as annual income, debts, assets, etc. The lender will all of this to determine if you qualify for the loan amount you have requested. The lender may also do perform a “soft pull” on your credit. This should not affect your score. However, if the lender decides to do a “hard pull”, this can affect your credit score. Be sure to ask your lender which type of pull they are doing and why.

Again, repeating this process with another lender may be advantageous as one lender may be able to approve you over another simply because they may better specialize in lending to your specific lending needs.

Pre-Approved

If the lender determines you qualify for a loan, they will likely write you a “pre-approval” letter stating the amount you are approved to borrow. This letter is key in the real estate transaction. Shopping for a home without such a letter doesn’t serve the buyer well because the buyer really doesn’t know if they can purchase the home they’re looking at.

Some lenders will write a general letter that simply states how much you as the buyer are approved to borrow. Other lenders will only write “property-specific” letters. General letters are preferred as they can be presented on any potential purchase as proof that the buyer has the funds to complete the purchase. Whereas “property-specific” letters will need to be recreated for each home the buyer wants to make an offer on. This can take valuable time in the tight time frame of a real estate transaction.

The Offer

Once the buyer identifies a home they want to make an offer on, this pre-approval letter will be submitted along with the offer to show the seller proof you as the buyer have the needed funds to complete the purchase.

Full Loan Approval & Funding

After an accepted offer and all inspections have been completed and approved, the time will come for the lender to fund the transaction. To do this the lender will likely review the loan again in its entirety and then give “full loan approval”. Once this has happened, they can fund the loan. I.e. send the funds to escrow. This would complete the loan process and close the real estate transaction.