Seller's Guide

You made the big decision to sell your property – before anything else, it’s a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.

Why Sell?
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.

When Should I Sell?
You should immediately establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals. If there is no pressing need to sell immediately, you can sit down with one of our expert real estate agents to thoroughly review current market conditions and find the most favorable time to sell.

What Is The Market Like?
When you work with Theo & Partners, you can be sure that you will have our knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. We will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties.

How Do I Optimize My Finances?
Deciding to sell your property demands a serious consideration of your current financial situation and future possibilities. With our help, you will be able to effectively assess the cumulative impact of these changes, estimate potential proceeds of selling your property, and plan effective tax savings and estate planning strategies with the appropriate consultants.

Why Should You Choose Theo & Partners?
There are many excellent reasons, however, why you should choose us to assist you in this important undertaking. We will ensure that you maximize your opportunities in the current real estate market. With our extensive contact networks through Sotheby’s International Realty, as well as our current and past clients, we will employ the most effective marketing and advertising strategies for your property. We will also guide you through the paperwork involved, from the initial agreement to the final documents.

What To Look For In An Agent

The following are a couple of factors to keep in mind when looking for a listing agent:

1. Education. The most important factor in choosing a real estate professional is their background and education in the real estate industry. Our team members have advanced training and education, with prestigious designations in the various fields of real estate. Specialist Designations include CIPS – Certified International Property Specialist, SRS – Seller Representative Specialist and ABR – Accredited Buyer Representative.

2. Experience and Expertise. You will want a full-time agent who is familiar with your area and with the type of property you intend to sell. Does he or she employ a diverse range of marketing and advertising strategies? How creative is your agent in positioning your home, so it stands out from the many properties on the market. How tech-savvy is your agent?

3. Availability and Commitment. Your agent should be capable of prompt and decisive action during the course of selling your property. Does your agent make it a point to keep in touch with you regularly? Can your agent easily be contacted in case of emergencies or even for the simplest questions? Is your agent available on the weekends or in the evenings when most buyers are out looking?

4. Rapport. Does your agent take the time to listen to your goals and clarify your needs? Can your agent understand your situation and identify with the unique characteristics of your home? Your listing agent will be your guide and partner throughout the sales process, so it is important to find one with whom you can get along and can trust. The marketing of your home is a collaborative process and we will be with you every step of the way.

What Is Your Property Worth?
Without a professional agent, most independent property sellers tend to overestimate the value of their property. You can avoid this pricing pitfall by consulting with an experienced real estate listing agent.

You can do a lot to increase the appeal of your property and to create a lasting impact on potential buyers. Our team has a creative approach and extensive experience with preparing a home for sale. We will offer advice on staging, lighting, paint color selections, minor renovations and landscaping. We will work closely with contractors, painters, stagers and photographers to present your home in the best possible way. These services are provided at no additional cost to the homeowner.

What To Do To Prepare:
The following are a few factors to keep in mind when listing your property for sale:

1. Curb Appeal
Keeping your landscape pristine, and adding creative touches to your yard, such as colorful annuals, will create an immediate impact on passers-by and potential buyers.

2. Property Repairs
Simple upgrades such as window repairs, polishing the doorknobs, and a fresh coat of paint in the most frequently used rooms will instantly brighten up the property.

3. Cleanliness and Staging
Keep your property uncluttered, sweet-smelling and well-lit from top-to-bottom. Pay attention to details: put away the kitty litter, place a vase of fresh flowers near the entryway, pop a batch of cinnamon rolls in the oven, have your carpets cleaned. Your agent will scan the property before it is listed for sale to see how you can improve the staging of your home.

4. Showtime
Presenting your property to potential buyers is a job that we will take care of for you. Buyers feel more comfortable discussing the property with the agent, if you are not there. Moreover, your agent will know what information will be most useful in representing your interests when speaking with prospective buyers.

The Price is Only One factor in Considering an Offer:
“The higher the price, the better the offer.” is a popular misconception. Price is not always the determining factor when accepting an offer – there are a number of terms and conditions that may influence the strength of the offer. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position.

Negotiating The Right Way:
We take seriously the ethical responsibility of fairly negotiating contractual terms. It is our job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – as your agents, we will offer a thorough and objective assessment of each offer to help you make the right choice.

The Initial Agreement and Deposit:
A sales contract is a legal arrangement between a potential purchaser and the property’s seller. In order to be a legally binding agreement, a cash deposit is required when the offer is presented. This consideration (Earnest Money Deposit) will be held in the title company’s escrow account pending the fulfillment of conditions/contingencies in the contract.

Some important tips to keep in mind to streamline the process even further:

• Keep written records of everything.
  For the sake of clarity, it will be useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. We will assist you in drafting all the paperwork for your sale.
• The goal is for all parties to stick to the schedule.
  Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of contract conditions. During the process we will keep you regularly updated so you will always be prepared for the next step.

Inspections and Appraisals:
Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the sales contract. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific areas. If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution. This is done so that the lending institution can confirm their investment in your property is accurate.

The Closing Agent:
A title company, whose role is to examine and insure clear title to real estate, will be selected by the buyer. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.

Loan Approval and Appraisal:
We suggest you only consider buyers who have a lender’s pre-approval, approval letter, or written loan commitment, which is a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.

Closing Day:
If you have come this far, this means that it is almost time for a congratulations, but there are a few final steps before closing.

Final Walk-Through Inspection – Terminate Home Services and Utilities:
More of a formality than anything else, the final inspection takes place the day before, or the day of the closing. The buyer visits the property to verify that all is in working order, everything is the same as when the buyer last viewed the property, and that there are no extra items left behind.

Closing:
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. The buyer(s) will sign this statement and then you will sign as well as the closing agent, certifying its accuracy. If you are unable to attend the scheduled closing, then arrangements can be made for a remote closing, depending on the circumstances and the notice that we receive. If you are receiving funds from the transaction, you can elect to either have the funds wired electronically to an account at your financial institution, or have a check issued to you at the closing. The seller should arrange to have all property keys and any other important information for the new purchaser at the closing, so that the purchaser may receive these items at the closing table.