Buying or selling real estate (your home, condo, or land) is a long and intricate process. Most people only do it a few times in their lives, and so they are nervous when it’s time to buy or sell again.
Don’t worry – we’ll come to your rescue!
The Real Estate Outline
Here is a list of what happens as you proceed through buying and selling real estate, so that you know what to expect.
|Decide they want to buy a home||Decide to sell their home|
||Prepare Your Home:
|Start your search for a home. Determine the location & features you want & need.||Determine pricing and other points of negotiation, complete legal requirements for disclosure of defects, deed restrictions, etc.|
|Collect information on the top homes to determine the best fit and best pricing.||Market the property to attract buyers.|
|Make an offer and negotiate terms.||Receive an offer and negotiate terms.|
|Bring in professional home inspectors.||Choose a closing agent.|
|Do not make any other large purchases that may affect your credit until after closing!(Don’t put a new living room set on your credit card)||Wait…|
|Follow time line defined in contract:
||Keep an eye on the contract timeline and help keep things on track as needed…
|Review the closing statement to be sure the contract terms are reflected there correctly.||Review the closing statement to be sure the contract terms are reflected there correctly.|
|Bring a bank or cashier’s check to closing to cover the balance due.||Collect all house keys, garage door openers, manuals, and codes for access or security systems.DO NOT PACK THESE!|
|Sign paperwork – if you are getting a mortgage this will take a while.
||Sign paperwork – there are only a few papers to sign.
|Collect all house keys, garage door openers, manuals, and codes for access or security systems.||Wait and wait while the buyer signs a mountain of paperwork and their lender approves it.|
|Be prepared to feel some anxiety before or after signing the paperwork. This is normal for many people.||Be prepared to feel some anxiety before or after signing the paperwork. This is normal for many people.|
|Congratulations! Pop open the bubbly & celebrate.||Congratulations! Go put the check in the bank, then celebrate.|
|Be sure to apply for your homestead exemption with the county tax office. Also apply for Save Our Homes portability if you qualify. These can save you a lot of money in taxes each year.||If this was your homestead you may qualify for Save Our Homes portability, which can give you be a significant tax savings each year. This moves your SOH deduction from your old home to your next home, but you have to file the right paperwork – talk to the local property appraiser.|
|Make sure the home owner’s association knows you own the home now.|
|Re-key the doors, and change any access codes.|