From Sale Sign to Closing

---

1.  Sign.  The preliminary steps are done and it is time to place that sale sign on the front yard. If showings are by appointment only, be sure something says so. Otherwise, do not be surprised when someone knocks on your door wanting to look inside.

2.  Handouts.  Place your inside handouts in a conspicuous place, such as a kitchen counter (that you have already decluttered of course). Buying a home is a big deal! The more information you provide upfront, the more comfortable buyers will be with you and your home.

3.   Sign-in Sheet.  Try to get contact information so you can follow-up a day or two after someone tours your home. You can determine interest and there may be questions you can answer. The sign-in sheet is also a subtle reminder that other people are interested in your home.

4.  Pets.  Ideally, they are not present during showings. If your pets must be at home, a contained location is a good idea. But do not put your pets in a room and make that room off-limits. Buyers want to see your home...all of it. And never, ever, let your inside pets free-range and assume you can leave instructions to buyers (and their kids) not to leave an exterior door open.

Even if you are home during showings, consider a contained location for your pets. Your buyers may or may not be animal lovers. Best to assume they do not want to be barked or hissed at, stalked, nuzzled, slurped, or nipped while touring your home.

5.  Open Houses.  Can be very effective, especially when new on the market. 

• Choosing best days and times is not science. Brokers differ on whether Saturday or Sunday is best. It's your home; why not do both, plus Friday.
• Advertise ahead of time in your local paper and online.
• Place some open house signs nearby. They can be bought at the big box stores.
• For security, have a neighbor, family member, or friend hang out with you.    
• Have a sign-in sheet for follow up. Some of the information you get will be bogus. Some folks just do not want to be contacted.
• Welcome neighbors. Yes, most are just nosy, but one might know someone interested in moving to the area.
• Be a courteous host. Have some snacks and bottled water available. Introduce yourself and summarize your home's basic features. Encourage your guests to take those great handouts you prepared. State availability to answer questions, and then get out of the way. Do not hover!

6.  Advertising.  The more people who know your home is for sale, the sooner you will get an offer.

You can purchase advertising in the local paper, but this can be expensive, especially over time. Some online sites will allow you to post your home for free. Open houses are a low cost option.

There are other no-cost guerilla advertising options. But your best option is having your home in your local multiple listing service (MLS). When in the MLS, your home becomes visible to hundreds of brokers and their buyers, in addition to repopulating onto many online sites.  Low-cost MLS for Citrus County. 

7.  Showings.  For personal security (and protection of valuables) follow your safety plan for showings. If you are allowing buyer-broker showings, they will manage their client walk-throughs. But when you obtain your own interested buyers, you will need to safely manage the showing of your home.  See 8 Things To Figure Out. 

8.  Feedback.  You can ask at the conclusion of a showing or through the contact information on your sign-in sheet. Your best feedback can be from buyer-brokers. They will often share their buyer's opinion, and possibly their own.

9.  Scams.  Stay alert for con artists who take otherwise legitimate home-for-sale information, post it as a rental, and replace your contact information with theirs. The goal is to steal deposits and early rents. While this does not affect you directly, it can be disruptive to have a moving truck unexpectedly show up in your driveway. A preemptive tactic is to occasionally search your address online.

10.  Competition.  Stay informed about homes in the neighborhood that have sold or are for sale. You want to objectively monitor that your home is priced competitively. If yours is continuously "almost" one of the best priced homes in the area, it may wind up being "almost" sold for quite a while.

 1.  Offers.  You should know what type of contract, terms, and financing you will accept. If you are in the MLS, you can specify that. And negotiation isn't always about price. Financing, closing cost assistance, and closing date can be negotiating points. An often overlooked section of a contract offer is what conveys (remains with the property) and what you are taking with you. If not clearly identified in the contract, serious conflict can arise.

2.  Chat With Your Team.  Have your mortgage contact review your buyer's pre-approval and financing terms, if any.

3.  Copy In Your Team.  Once you have a fully-executed contract, immediately send a copy to the title company. Have your title company rep review safe fund-wiring practices with the buyer (and you). If there is a lender, be sure they get a copy of the contract also.

4.  Monitor Timelines.  Stay on top of contract due dates for escrow deposits, inspections, appraisal, survey, and closing. A good buyer's broker will keep you informed but do not rely totally on that. And certainly, do not rely on your buyer. Communicate directly with the title company and lender.

5.  Access.  Third parties need access to your property. You can expect the buyer's home inspector and surveyor. An appraiser will also be showing up if there is financing or an appraisal contingency.

6.  Associations.  If your home is in an association, be sure you have provided the buyer with at least contractually required association documents. Ensure your buyer schedules a timely application and/or meeting if required.

7.  What If.  Finally, have a plan B. Stuff happens. Most transactions close successfully. Sometimes, inspection or appraisal issues might delay closing. I was always aware of  "Force Majeure" language in contracts. I never thought I would experience it until Hurricane Irma delayed one of my closings.

Infrequently a deal goes completely off the rails. Perhaps the buyer's financing falls apart. The buyer has lost inspection, appraisal, and loan application fees. You have lost time on the market. Potential escrow disputes and the processes for cancelling the contract are beyond the scope of this site. But obviously, no one is happy. A small consolation is you are now more experienced for the next one.  

1.  Title Company.  Typically your title company handles many aspects when you sell by owner. Beginning several weeks before closing, stay in frequent contact.

2.  Utilities.  Before closing, arrange to take utilities out of your name. Confirm your buyer is also scheduling a seamless transition. Do not jump the gun and wind up with no electric on the same day your buyer wants to perform a final walk through. Remember lawn care or other property services. Forward your mail and other subscription services.

3.   Final Walk Through.  On or shortly before closing day, most contracts allow your buyer a final walk through. This allows the buyer to confirm the presence of conveying items and that the property has been maintained per contract. Be ready for the occasional buyer who thinks this is an opportunity to renegotiate.

You may hope your buyer will appreciate those partially empty paint cans. Have a clear understanding of what stays and what should already be gone. You do not want to reschedule the walk through or delay closing.

4.  Closing Day.  Have all your keys, fobs, and documents ready for transfer to the buyer. If you will not be attending closing at the same time as the buyer, be sure the closing agent has them to pass along to the buyer.

5.  Signage.  Remove your sale sign.  If you have a post or frame supplied by a third party, arrange to have it pulled---but not before closing. Inform your buyer it may take a day or two after closing for your company to pull its post or frame.