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Seller's Guide

A Step By Step Guide To Sell Your Home!

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compliments of:

Rachel Jones

SKD Real Estate

The Rachel Jones Team

Cell: (401) 663-6162

Email: [email protected]

Hello!

Congratulations on making the decision to sell your home! This is one of the most important, most profitable decisions you will make in your entire life! It is also the smartest decision one can make, especially with the current market we are in. In this packet you will find valuable information that will help you prepare for the sale of your home.

On the last page, you will find references that I have used in the past for various stages of the selling and buying process, please feel free to contact them, and make sure they know I sent you! Please do not hesitate to contact me if you have any questions! Thank you for letting me be part of this exciting time for you and your family!

Sincerely,

Rachel Jones

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How to Start the Process:

Once we have our in-home consultation, should you decide to engage SKD Real Estate as your listing broker, there will be a series of documents we must execute in order to move forward. These documents include and are not limited to:

  • Listing Agreement
  • Recommendation Form
  • Mandatory Relationship Disclosure
  • Lead Based Paint Disclosure
  • Sales Disclosure
  • Data Form
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Getting Your Home Market Ready:

This is the most important step of the process! Our ultimate goal here is the get the most enticing photos possible to get people in the door to view your home!

General Tips:

  1. Declutter as much as possible, it is OK to have a messy closet, garage, or storage room if necessary, we will not be photographing those areas

  2. All countertops, vanities, dressers, and bureau’s should be empty or 1 item on them for decoration

  3. Staging - We do have light decorative staging items we can bring over and display. Additionally we can help arrange furniture, rooms, etc. If you would like to have the main rooms of your home fully staged we have a staging partner who will help you!
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Pre- Marketing Your Home:

If we are able to list within 2-3 weeks of our meeting, and we have enough time to get all marketing in, we should be able to Pre-Market your home! This is a great way to “hype” up the interest in your home to pre-market we will take the following actions:

  • Enter your listing into MLS early with all marketing & pricing
  • Put a sign in the yard with a “Coming Soon” Rider

Let the Showings Begin!

Once your home is ready to go, we will post the Open House times in MLS and do a Deferred Showing form which lets all prospective buyers and agents know that the first showing will be held at the open house. Your best weekend and highest potential for profitability will be your first weekend on the market!

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Offer Deadline:

Once all showings cease, if we have or are expecting multiple offers on your home, we will contact every person that attended the open house and let them know we are posting a deadline, for example, “Tuesday at 6:00 p.m.”.

Selecting an Offer:

Right now, we are in a multi offer environment, if we price your home right, we should be receiving multiple offers, which can be overwhelming to choose which is the best with all the working parts, there is more to an offer than the price.

Once all offers are in, I will create a spreadsheet and enter all pertinent information about the offer that will help you make the best decision possible.

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Negotiations:

When an offer is submitted not in a “highest and best” situation, and you would like to counter offer, we may do so.

Counter Offer

  • You have received the buyers offer, however you are going to request some changes to their initial offer, such as a different price, closing date, etc.

Denied Offer

  • You felt that the offer was not good enough, and did not want to counteroffer. At this point, buyers may submit another offer, which should be your “highest and best” (your strongest offer).

Accepted Offer

  • Both parties sign a Purchase and Sales Agreement, and the Earnest Money. Deposit is due within 24-48 hours (wired is best when possible) which means both parties are now officially under contract. Once we receive the executed contract, the buyers inspection period begins and they will reach out to me to schedule.
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Inspections:

If your buyer is doing a home inspection, they must be completed 10 business days (exclusive of weekends and holidays) from the date of the last signature on the fully executed Purchase and Sales Agreement. There are a few different kinds of inspections the buyer may choose to do:

Common Types of Inspections:

  • Well Inspection
  • Septic Inspection
  • Radon Inspection
  • Lead Paint Inspection
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Repair Request:

Once all inspections are complete, the buyer will submit a formal request for repairs or closing cost credit in lieu of repairs if any.

If we cannot come to terms regarding inspection, the buyer may back out of the sale and get their full deposit back if we are still within the inspection period.

Appraisal:

If your buyer is using a mortgage, once inspections are complete, the buyer's bank will send an appraiser to provide their opinion of the value of your home.

Mortgage Commitment Letter:

Once the appraisal is accepted and completed, the bank will then issue a mortgage commitment letter, the date this contingency must be met is outlined on the Purchase and Sales Agreement.

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Closing Attorney:

Choose a closing attorney of your choice to represent you and prepare your seller documents. I work with a team that does an amazing job and can recommend them to you.

What are your costs?

This list may vary from seller to seller, prior to listing we can request a Seller Net Sheet from an attorney to provide you with estimated costs and proceeds.

  • Fire Coding - for every sale the local fire marshal must come and test the fire alarms as well as check placement and age
  • REALTORS® Commission
  • Prorated Property Tax and Utilities
  • Attorney Document Prep Fee
  • Stamp Tax
  • Non-Resident Withholding Tax if your are not a RI Resident at the time of the sale
  • Capital Gains if this is a sale of an investment or your primary residence in less than 2 years

Final Walkthrough

This should be done as close to the closing as possible, even the morning of closing it is your responsibility to ensure the home has been cleaned out and all items in the negotiation of the sale remain intact and working condition as promised, contractually it should be in “broom swept condition”.

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What Can I Do as the Seller to Ensure We Make It to the Closing Table?

  • If you are not sure why something is happening, please ask!
  • If you choose a buyer that is using a mortgage or a VA mortgage especially, there is a chance your home may not appraise, OR the bank will require certain repairs (i.e. peeling paint, termite treatment, etc.) Please remain flexible when needed in these situations as they are requirements by the bank for this property to be financed by the bank and enable us to close.
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Closing 101

The closing process finalizes the sale of your home and makes everything official. You must bring a copy of your photo id. The closing, also known as settlement, is when your buyer pays for the home in full with either cash or a mortgage, you sign all of your seller documents, and once we are on record the buyer's attorney will be able to release your proceeds to you, if not the same day, it will be the next business day.

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Here are a few things you need to leave for the buyer the day of closing:

  • House keys
  • Garage door opener(s)
  • Letter to new owners with any nuances about the house, trash day, etc.

What can you expect?

The closing agent will look over the purchase contract and identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer's title is recorded; and ensure that you receive any monies due to you.

After the closing, make sure you keep the following for tax purposes:

  • Copies of all closing documents

Moving Checklist

New Telephone Number:
New Address:

Before you move, you should contact the following companies and service providers:

Utilities:

Electric
Telephone
Water
Cable
Gas

Professional Services:

Broker
Accountant
Doctor
Dentist
Lawyer

Government:

Internal Revenue Service
Post Office
Schools
State Licensing
Library
Veterans Administration

Clubs:

Health and Fitness
Country Club

Insurance Companies:

Accidental
Auto
Health
Home/Renters
Life

Business Accounts:

Banks
Cellular Phones
Department Stores
Finance Companies/Credit Cards

Subscriptions:

Magazines
Newspapers

Miscellaneous:

Business Associates
House of Worship
Drugstore
Dry Cleaner
Hairstylist

Above and Beyond

To me, providing exceptional service involves more than just making your real estate dreams come true. It requires taking the next logical step: helping you through the details after you officially own your home.

I have worked with the following service professionals and highly recommend them to my clients:

Home Search

Home Valuation

Buyer's Guide

Work With Us

Ready to make your next real estate move? Let SKD Real Estate guide you through the Tri-State market, with experience, expertise, and personalized service every step of the way.
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Contact Details

SKD Real Estate

Phone

(401) 663-6162

Email

[email protected]

Address

35 Congdon Hill Rd Saunderstown, RI 02874

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