Seller Resources

SELLING YOUR HOME

Selling your home is a big decision, and at NWS Home Advisors, we are committed to making this journey as smooth and successful as possible. Whether it’s your first time selling or you’re a seasoned seller, we’ll provide expert guidance and personalized strategies to help you get the best price for your property in today’s competitive market.
“Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau

We understand that every home is unique, and so is every seller’s situation. That’s why we tailor our approach to your specific needs and goals, ensuring your home gets the attention it deserves and sells quickly at the best possible price.

SELLING PROCESS

FIND AN EXPERIENCED REAL ESTATE AGENT

Partnering with an experienced agent can make a huge difference in selling your home. They bring expertise in market trends, pricing strategies, and negotiation tactics, all of which can help you achieve the best possible outcome. They also handle the paperwork and logistics, so you can avoid common pitfalls and focus on other important aspects of your move. Overall, their support can streamline the process and help you secure a sale more efficiently and profitably.

CONSIDER REPAIRS AND IMPROVEMENTS

Your real estate agent will do a thorough walkthrough of your home and will likely make recommendations on both minor and major repairs or improvements you should consider.

Addressing both minor and major issues before listing your home can significantly boost its market value and appeal. Here’s a quick rundown of how these improvements can make a difference:

Painting: Fresh, neutral paint can make your home look clean and updated, appealing to a wider range of buyers.
Refinishing Hardwood Floors: Restoring the shine and smoothness of hardwood floors can enhance their attractiveness and value.
Roof/Siding Repairs: Fixing or replacing these can prevent potential buyers from worrying about future costs and maintenance.
New Garage/Front Door: Upgrading these can create a strong first impression and improve curb appeal.
Gardening/Landscaping: Well-maintained outdoor spaces can make your home more inviting and appealing from the outside.
HVAC System: An updated or well-maintained HVAC system ensures buyers that the home is comfortable and efficient.
Kitchen/Bathroom Repairs: Small updates like new fixtures, resurfaced cabinets, or updated countertops can modernize these spaces and make them more attractive to buyers.

Being proactive with these improvements not only helps your home stand out but can also lead to a quicker sale and potentially a higher selling price.

SET THE RIGHT PRICE

Pricing your home competitively is key to a successful sale. This will help ensure that you receive the highest rate return on your investment in the shortest amount of time. Here's how to approach it:

Comparative Market Analysis (CMA): Your real estate agent will perform a CMA to compare your home with similar properties in your area that have recently sold. This will help you gauge a realistic price range based on current market conditions.
Active Listings: Look at the prices of nearby homes currently for sale. These listings represent your competition, so pricing your home strategically in relation to these can help attract buyers.
Home Condition: Factor in the condition and features of your home. Homes in better condition or with desirable upgrades can often command a higher price, but they also need to be priced appropriately to reflect their value.
Location: Consider your home’s location relative to local amenities, schools, and overall neighborhood appeal. Homes in more desirable locations might justify a higher price.
Market Trends: Pay attention to current real estate trends in your area, including average days on market and whether prices are trending up or down.

Setting the right price from the start can help generate interest, attract serious buyers, and lead to a quicker sale. Overpricing can deter potential buyers, while underpricing might leave money on the table. Balancing these factors is crucial for achieving the best possible outcome.

PREP YOUR HOME

You've outlined a solid strategy for preparing your home for sale. Hopefully you have already begun to declutter the home and start the prepping process. Here’s a bit more detail on each step to ensure you're set up for success:

Decluttering:
Furniture and Items: Remove excess furniture and personal items to make rooms appear larger and more open. Consider donating or selling items you no longer need.
Attic/Basement/Closets: Organize and clear out these spaces. Buyers often look for storage potential, and clutter can detract from this.
Deep Cleaning:
Nooks and Crannies: Pay attention to often-overlooked areas like baseboards, window sills, and behind appliances. A clean home feels more inviting and well-maintained.
Professional Cleaning: For the best results, you might consider hiring a professional cleaning service, especially for carpets and hard-to-reach areas.
Home Staging:
Neat and Welcoming: Arrange furniture to highlight the best features of each room. Ensure that each space is functional and aesthetically pleasing.
Depersonalizing: Remove personal photos and unique décor. This helps buyers envision themselves in the space.
Accents: Add fresh touches like new towels in the bathroom or a bowl of fruit in the kitchen to create a welcoming atmosphere.
Professional Photography:
Highlight Features: Work with a photographer who specializes in real estate to capture your home’s best angles and features.
Virtual Tours: Consider adding virtual tour options to allow buyers to explore your home online.

These steps can make a significant difference in how quickly and profitably your home sells. Presentation is key, and a well-staged, clean, and attractively photographed home will stand out in the competitive real estate market.

MARKET YOUR HOME

A well-rounded marketing strategy is crucial for reaching the right buyers and achieving a successful sale. Here’s how a skilled agent leverages various resources to your advantage:

Online Listing Services:

MLS (Multiple Listing Service): Agents use MLS to list your property where it’s visible to other agents and potential buyers actively searching for homes.
Real Estate Websites: Listings are also featured on popular real estate websites like Zillow, Realtor.com, and Redfin, increasing exposure.

Print Advertising:

Brochures and Flyers: Professional-quality print materials can be distributed in targeted areas, open houses, and local businesses to attract interested buyers.
Local Publications: Ads in newspapers or real estate magazines can reach potential buyers who prefer traditional media.

Social Media:

Wide Reach: Agents often have large social media followings, which they use to promote your property through posts, stories, and targeted ads.
Engagement: Social media platforms allow for interactive content, such as virtual tours or live Q&A sessions, to engage potential buyers.

Local Agent Networks:

Agent-to-Agent Communication: Agents have connections with other real estate professionals who might have buyers looking for a home like yours.
Community Knowledge: Local agents understand the area and can tap into networks of buyers interested in the community.

Marketing Strategy:

Targeted Campaigns: A skilled agent tailors marketing efforts to the most likely buyers based on demographics, interests, and buying behaviors.
Open Houses and Private Showings: Organizing events to showcase your home can attract serious buyers and generate interest.

By employing these diverse strategies, a skilled agent can effectively market your home to a broad audience and find the right buyers, ultimately helping you sell your home faster and often at a better price. Be sure to ask your listing agent for any other additional marketing strategies that they will be using for your home.

SHOW YOUR HOME

In addition to scheduled open houses, your home can be shown at any time, so be prepared. Keep it neat, clean, organized, and staged. Don’t leave dirty dishes or laundry lying around, be sure to dust and vacuum regularly, and promptly address any potential clutter buildups. Additionally, you should be ready to clear out of the house during showings to avoid making buyers uncomfortable.

Being prepared for showings is key to presenting your home in the best light and making the selling process smoother. Here are some practical tips to ensure your home is always ready:

Maintain Cleanliness:

Daily Upkeep: Regularly tidy up to keep surfaces clean and clear. Do dishes, take out the trash, and handle any laundry promptly.
Deep Cleaning: Continue to dust, vacuum, and clean high-traffic areas to keep your home looking fresh and inviting.

Organize:

Declutter: Keep countertops, tables, and shelves free of unnecessary items. Store personal items and valuables securely.
Closets and Storage: Ensure closets and storage spaces are organized and not overcrowded. Buyers will often peek into these areas.

Staging:

Consistency: Maintain the staging setup consistently, so the home always looks its best.
Details: Small touches, like arranging throw pillows or adjusting lighting, can make a big difference.

Flexibility with Showings:

Be Prepared: Your home may be shown at various times, including evenings and weekends. Keep it in show-ready condition at all times.
Clear Out: When buyers are visiting, make sure to leave the home so they can explore without feeling rushed or uncomfortable. It’s also beneficial to give the buyer’s agent the freedom to showcase the property effectively.

Quick Touch-Ups:

Spot Cleaning: Keep a cleaning kit handy for any quick touch-ups that might be needed before a showing.
Air Freshening: Ensure your home smells pleasant. Freshen up the air with neutral scents or fresh flowers, but avoid strong fragrances that might be off-putting.

By staying organized and maintaining a clean, welcoming environment, you increase the chances of making a great impression on potential buyers and facilitating a quicker sale.

NEGOTIATE AND ACCEPT OFFER

If a buyer wants to buy your home, they will make you a written offer, which usually states how much they’ll pay, their mortgage amount, closing and occupancy dates, and any contingencies. You can either accept the offer or negotiate for different terms.
Negotiations can include your own contingencies, such as a first right of refusal if your buyer’s offer is contingent on selling their home, making the offer contingent on you buying another home, or adding contingences for closing and occupancy dates or buyer financing.

Understanding the offer and negotiation process is crucial in navigating a home sale. Here’s a breakdown of what to expect and how to handle negotiations:
Reviewing the Offer:

Price: The offer will state the purchase price the buyer is willing to pay for your home.
Mortgage Amount: This indicates how much the buyer plans to borrow. Ensure their financing is likely to be approved by checking their pre-approval status.
Closing Date: The proposed date when the sale will be finalized and ownership transferred.
Occupancy Date: When the buyer intends to move in. This may be the same as the closing date or different, depending on the agreement.
Contingencies: Conditions that must be met for the sale to proceed, such as home inspections, appraisal results, or financing.
Buyer’s Agent Commission: This pertains to who will be responsible for paying for the buyer’s agent and how much the amount will be.

Accepting the Offer:

Full Acceptance: If you agree with all terms, you can accept the offer as is, moving forward with the transaction.
Counter Offer: If you want to adjust terms, you can make a counteroffer. This might include changes to the price, closing date, or contingencies.

Negotiation Points:

Contingencies:
Home Sale Contingency: If the buyer’s offer is contingent on selling their current home, you might want to request a “first right of refusal,” allowing you to consider other offers if the buyer’s home doesn’t sell in a timely manner.
Purchase Contingency: If you need to buy another home, you can make your offer contingent on finding and closing on a new property.
Closing and Occupancy Dates: Adjust these dates to fit your schedule if needed. Flexibility on these terms can be a negotiation tool.
Inspection and Repairs: Negotiate who will handle any repairs or if the buyer will accept the home as-is.

Finalizing the Agreement:

Written Agreement: Once you agree on terms, both parties will sign a purchase agreement. This legally binds the buyer and seller to the terms of the contract.
Escrow: Funds will be placed in escrow until all terms are met and the transaction is completed.

By carefully reviewing offers and negotiating terms that work for you, you can ensure a smoother sale process and achieve the best possible outcome. Your real estate agent can guide you through this process, providing advice and assistance to help you navigate negotiations effectively.

SIGN A PURCHASE AND SALE AGREEMENT

Once you and the buyer have agreed upon an offer, you will both sign a legal contract called a Purchase and Sale Agreement. This outlines the specific terms, conditions, and contingencies of the home sale. Your agent will then work with your attorney to review the contract and make sure all of the agreements are correct and understood.

COOPERATE WITH HOME INSPECTIONS

Next, the buyer will hire an inspector to ensure that no major repairs will be needed after they buy the house. The inspector will go through every inch of the house, if any issues are uncovered, the buyer can negotiate for the cost of the repairs.

The Home Inspection Process:

Scheduling the Inspection:

Buyer’s Responsibility: The buyer will arrange for a licensed home inspector to visit the property. This usually occurs within a specified timeframe after the Purchase and Sale Agreement is signed (3-5 business days).

Inspection Details:
Scope: The inspector will examine various aspects of the home, including:

Roof: Condition of shingles, flashing, and overall integrity.
Basement and Foundation: Look for signs of water damage, cracks, and structural issues.
Heating and Cooling Systems: Check the functionality and condition of HVAC systems.
Plumbing: Inspect pipes, faucets, water pressure, and potential leaks.
Electrical Systems: Assess wiring, outlets, and the electrical panel.
Structure: Evaluate the overall structural integrity, including walls, floors, and ceilings.

Inspection Report:

Findings: The inspector will provide a detailed report (to the buyer only) listing any issues or areas of concern. This report typically includes descriptions, photographs, and recommendations for repairs or further evaluation. This report is NOT shared with any part of the selling side unless specifically asked.
Post-Inspection Negotiations:

Negotiating Repairs or Credits:

Repair Requests: The buyer may request that certain repairs be completed before closing. These repairs might be minor or more significant, depending on the findings.
Credit or Price Reduction: Alternatively, the buyer might ask for a credit towards closing costs or a reduction in the purchase price to cover the cost of repairs.

Responding to Requests:

Negotiation: As the seller, you can agree to make the repairs, offer a credit, or negotiate other terms. If you choose not to make repairs, you might need to adjust the selling price or offer a concession.
Re-inspection: If repairs are made, the buyer might request a re-inspection to confirm the issues have been resolved.
Verification: If the buyer requests repairs or a repair credit for a specific reason, sellers may work with their attorney to request more information regarding what the issue is and/or more information so that they can ascertain the appropriate repair/credit.

Finalizing the Agreement:

Amendments: Any agreements made during this phase are documented as amendments to the Purchase and Sale Agreement. Both parties must agree to these changes and will work with their respective attorneys to finalize during the Attorney/Inspection review period (A/I).

Tips for Sellers:

Pre-Inspection: Consider having a pre-inspection done before listing your home. This can help identify and address potential issues in advance, reducing surprises during the buyer’s inspection.
Documentation: Keep records of any recent repairs or updates to share with potential buyers. This can help reassure them about the condition of the property.
Communication: Maintain open communication with your agent to navigate any repair requests and negotiate effectively.

By understanding the inspection process and being prepared to address issues or negotiate, you can facilitate a smoother transaction and help ensure that the sale proceeds without major obstacles.

ENTER ESCROW

The escrow period is a critical phase in the home-selling process, ensuring that all aspects of the sale are completed properly before the transaction is finalized. Here’s a detailed look at what to expect during escrow:

Escrow Process
Opening Escrow:

Escrow Company (Attorney): An escrow company, sometimes called a title company is a neutral third party that manages the escrow process. They ensure that both the buyer and seller fulfill their contractual obligations.
Paperwork: You,your agent and your attorney will work with the title company to complete and review various documents required for the transaction. This includes the Purchase and Sale Agreement, disclosures, and any additional agreements or amendments.
Title Transfer: The title company will coordinate the transfer of the property’s title from you to the buyer, ensuring that the title is clear of any liens or claims.

Fulfilling Contract Terms:

Repairs and Credits: If any repairs or credits were negotiated following the inspection, ensure that these are completed as agreed.
Contingencies: The title company will confirm that all contingencies outlined in the Purchase and Sale Agreement are satisfied. This might include finalizing financing, completing an appraisal, or resolving any other conditions.

Coordination:

Communication: Maintain open communication with your attorney, real estate agent, and any other involved parties (such as your lender or the buyer’s lender) to ensure that all requirements are met in a timely manner.
Property Inspection: If additional inspections or assessments are required, make arrangements for these to be completed before the closing date.

Final Steps:

Review Documents: Prior to closing, review the final settlement statement, which outlines the financial details of the transaction, including closing costs, prorated taxes, and any other fees. This will be done between the seller and their attorney.
Sign Documents: You will need to sign various documents related to the transfer of ownership, including the deed and closing statement.
Transfer of Funds: The title company will ensure that the buyer’s funds are transferred to you and that any outstanding mortgage or liens on the property are paid off.

Closing:

Completion: On the closing date, the transaction is finalized. Ownership of the property is officially transferred to the buyer, and you receive the proceeds from the sale.
Key Handover: You will hand over the keys to the buyer, and they will take possession of the property.

Tips for Sellers:

Stay Organized: Keep all relevant documents and records organized and readily accessible. This includes any correspondence, repair receipts, and documents related to the escrow process.
Be Responsive: Promptly respond to any requests or communications from the title company, your agent, your attorney, or the buyer to avoid delays.
Consult Your Agent: Work closely with your real estate agent throughout the escrow period to address any issues that arise and ensure a smooth transaction.

By understanding the escrow process and actively participating in it, you can help ensure that the sale of your home proceeds smoothly and that you receive your funds in a timely manner.

SIGN, PAY AND CLOSE

On a predetermined closing date, you and your buyer will sit down with your agents to sign all the paperwork and pay all your fees. You will relinquish your keys and your property title, and you will receive a check for the remaining balance after the remainder of your mortgage is paid to your bank. Congrats, you have just sold your home.

The closing is the final step in the home-selling process and it’s where the sale officially completes. Here’s a breakdown of what typically happens on the closing day:

Closing Day Process

Final Walk-Through:

Buyer’s Inspection: The buyer may conduct a final walk-through of the property to ensure that it’s in the agreed-upon condition and that any repairs or changes have been made.

Signing Documents:

Closing Documents: Both you and the buyer will sign various documents, including the deed of transfer, settlement statement, and any final agreements. These documents legally transfer ownership from you to the buyer. As a seller, you may elect to sign these documents ahead of time with your attorney depending on your schedule.
Disclosure Forms: If applicable, you may also sign forms related to disclosures or warranties.

Paying Fees:

Closing Costs: You will pay any remaining closing costs, which may include agent commissions, title insurance, and transfer taxes. These costs are usually detailed in the settlement statement provided by the title company.
Settlement Statement: Review this document carefully to ensure that all financial details are correct, including the final sale price, any credits or debits, and the disbursement of funds.

Transfer of Title and Keys:

Title Transfer: The title to the property will be officially transferred to the buyer. This involves recording the new deed with the local government to reflect the change in ownership.
Keys and Access: You will hand over the keys to the buyer, as well as any garage openers, security codes, or other access items.

Receiving Proceeds:

Final Payment: You will receive a check or wire transfer for the remaining balance of the sale proceeds after your mortgage is paid off and any other costs are deducted.
Mortgage Payoff: The title company will ensure that the remainder of your mortgage is paid off to the bank, clearing any existing liens on the property.

Completion of Sale:

Documentation: Ensure that all documentation is completed and that the transaction is properly recorded. The title company will handle the official recording of the deed and any other necessary paperwork.

Post-Closing Tips:

Confirm Funds: Verify that you have received the proceeds from the sale and that the transaction is reflected in your bank account.
Keep Records: Maintain copies of all closing documents and correspondence for your records and future reference.
Cancel Utilities: Make sure to cancel or transfer utilities, services, and insurance related to the property.

Congratulations on selling your home! With the successful completion of these steps, you’ve navigated the complex process of selling a property and can now move on to your next chapter.

Pre-Closing Checklist

Contact the XXXXX Water Department at (847) XXX-XXXX to order the final water reading and subsequently pay the final bill. The final bill will need to be paid before the Buyers can purchase the real estate transfer tax stamps with the Village so the sooner this is completed the better. Please notify your attorney once you have paid the final bill, as they will need to inform the Buyer’s attorney, and send your attorney a copy of the receipt of payment, just in case it’s needed at closing.
We will advise you when the final walkthrough is taking place, usually within 24 hours prior to closing.
Make all the necessary arrangements to be moved out by the closing date and time. The property must be in broom clean condition and all personal property removed or there could be a demand by the Buyer to arrange for the removal of the property at your expense.
If you will not be present at the closing, please arrange to deliver the set of keys and garage door openers for the property to Neil or Liz.
Contact all your utility companies. Contact numbers and websites are listed below for most companies.
Post-Closing: Arrange with your insurance agent to cancel homeowner’s insurance after the possession has been delivered to the Buyer
and all of your personal property has been removed.

Utility Companies

Comcast Cable
(866) 594-1234

Commonwealth Edison (Com Ed)
(800) 334-7661

DirecTv
(888) DTV-MOVE (888-322-6683)
www.directv.com/DTVAPP/content/movers?lpos=footer

NICOR (gas)
(888) 642-6748

People’s Gas (City of Chicago)
(866) 556-6001