The Home Selling Process

The home selling process typically starts several months before a property is made available for sale. It is necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired, and thrown out.

Selling a home can be overwhelming. To provide some guidance and make the process easier, provided below is an organized list of steps to selling a home in New Jersey.

2) Find & develop a relationship with a good Realtor

What’s my agent going to do for me?

Village Homes Realty does their homework in order to effectively sell your home.

In an initial meeting, our agents will

• Offer a Free Comprehensive Market Analysis
• Create a schedule and timeline of marketing activities
• Create ad copy, along with a list of websites, newspapers and marketing publications in which the ad for your home will appear
• Produce promotional materials with photos of your home and its special features – prepared as handouts to prospective buyers or for distribution to a custom mailing list

Once you list with us, we will immediately start putting the marketing plan into action, to help you achieve a timely sale at the best possible price.

3) Listing your home

How much do you expect to get for your property?

There are many factors that affect the price of a home: location, condition, and amenities of a home, supply and demand, and the local marketplace. Our agents will assist you in creating a clear market analysis on your home, so you will be able to develop a realistic, competitive pricing strategy on your home.

Implementing the marketing system will be crucial to getting the most amount of money, in the shortest period of time with the least inconvenience to you. Putting your house on the market at the right price from day one will help sell your house more quickly.

Written seller's disclosure has become a major part of a home sale transaction in New Jersey. The Seller's Disclosure Statement is a form on which the sellers describe, to the best of their knowledge, physical aspects of the property. This includes numerous categories such as land condition, structural condition, plumbing, roofing, electrical, additions or remodeling of the property. It is our experience that written disclosure is the best way to clearly communicate information. It will reduce uncertainty and misunderstandings, thus giving buyers confidence and peace of mind when negotiating on a property.

4) Where are you going from here – Moving up, Relocating or Downsizing?

Knowing where you are going from here is important to selling your home. Let our agent know where you plan on going. We have a referral network that might be able to help you find the right agent for you in your new location. If you are in a rush to sell then we should place a more competitive price on your home, if you are not in a rush then we can try a higher price and see what the market will bring you. It is important to discuss your situation with our agents so that we can best service you and get your property sold in the timing that you want.

5) Find the Right Buyer - Preparing your home for selling

A house that "sparkles" on the surface will sell faster than its shabby neighbor, even though both are structurally well maintained. From experience, our agents know that a staged house is more appealing to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well cared for home because if what they can see is maintained, what they cannot see has probably also been maintained. In preparing your house for sale, consider how much you should spend to enhance the exterior of the home for curb appeal and the interior for appearance. Ask our agents to help dress your house for success.

Through tremendous exposure, marketing and networking, Village Homes Realty will create the demand for that right buyer to find, fall in love with and purchase your home. Be assured that any buyer brought to your home will be pre-qualified to purchase your home.

• Presentation is everything; You would be amazed at the difference “cosmetic” improvements can make in how buyers react to your home. So you may want to spend some time sprucing up your home with paint and landscaping as well as taking care of necessary repairs you may have been avoiding. This not only will help you get the very best price, but may help you get an offer sooner.
• Making arrangements for pet care; If your house is also home to a cat or dog, that can be noted in your listing so that real estate agents act with due caution. You may want to close your pets off in a separate room or fenced area outside, or request advance notice when your house is to be shown.
• The value of placing a lock box on your home; A lock box is a key storage system placed on an entrance to your home that is accessible only by active, licensed real estate agents. With today’s technology, most lock boxes allow us to know which sales agent showed your house and when. A lock box allows sales agents to show your home when you’re not there, without having to go to the listing sales agent’s office to obtain (and later return) the key. By making it more convenient for real estate agents to show your home, it will be viewed by a greater number of buyers.

Our agents will prepare your property information, to provide all necessary information for buyers so they can refer to it anytime they need. We will create a “Take One Flyer” highlighting the special features of your property as well as value you have added to your home. This flyer is key to help buyers so they are able to take notes while they are walking through your home and remember your home once they leave.

If you choose Village Homes Realty, we will place a “For Sale” sign on your property to help get as much exposure as possible. We are members of the Multiple Listing Service (MLS), and will be able to enter your home onto MLS for maximum exposure. We will place descriptions, photographs and virtual tours of your home onto the MLS and Realtor website so that buyers can get a realistic feel for your home. The MLS is a great tool to help agents advertise your home to thousands of agents in the area and buyers nationwide and even worldwide. We can also provide a lockbox on your home so that other agents through the MLS can show your house more easily throughout the day.

Village Homes Realty will place your home for sale not only on our website and MLS but on many other websites including Homes.com, Trulia.com, and Yahoo Real Estate. We will also place proven print advertising on the weekends to maximize the exposure of your home.

Village Homes Realty will market not only to buyers but to other brokers as well. First our agents will hold a brokers open house to give other brokers, with buyers ready to buy, first-hand exposure to your home. After this, our agents will report back to you with feedback, comments and suggestions from other brokers in the area that will further help you present your home most positively in this very competitive market.

Our agents will host your public open house. This will give an opportunity to buyers who don’t want the pressure of working with an agent, get a chance to see your house with no obligation. After this open house, our agents will report back to you with feedback and comments that will further help you present your home most positively in this very competitive market.

At times, in an extremely competitive market, a multiple offer situation can arise. Typically, multiple offers can be presented to you all at once, and then a blanket counter offer can be made. At that time your agent will review strategy, price terms, conditions, closing date, inclusions/exclusions and other pertinent issues pertaining to the offer.

8) Offer Acceptance – Attorney Review Period

In New Jersey it is typical to provide a $1,000 or more earnest money deposit with an offer. Usually, four – six original copies of the contract are created by the Buyer's Agent for all parties to sign. Original copies are typically available for the buyer, the buyer's attorney, the seller and seller's attorney, and both real estate sales associates.

Attorney review is considered three business days in New Jersey, but can be shortened or extended by the attorneys with the agreement of all parties. You should discuss with your attorney details regarding attorney review.

9) Home Inspection

Home inspections should be expected according to the terms of the contract. Home inspections are typically ordered within 10 business days. Any issues arising as a result of the home inspection should be discussed with your attorney.

10) Mortagage Comittment & Second Deposit

Our agents will assist in following up on all contingencies being met. Survey, title search and title insurance will be ordered by your attorney. Ask your attorney to review these items with you. A written mortgage commitment for the buyers takes approximately 30 to 45 days. At this point you should get the Certificate of Occupancy from your Municipality; it can take up to a month to get this done depending on the time of the year and how many sales are happening at the same time where you live.

11) The Final Walk Through

In New Jersey the buyers, with their Buyer's Agent, will perform a "walk through" of the home to ascertain that it has been left in "broom-swept condition" and that items were not left behind that should have been removed. Please refer to your contract of sale for specifics.

12) The Closing

The closing typically occurs at the buyer's attorney's office. Both agents should be present for both buyer and seller. Remember to bring all extra keys and garage door openers. Typical costs due at closing could include Attorney's fees, mortgage lie`ns, mortgage cancellation fee, realty transfer fee (rate fixed by sales price of property), adjustments (either a credit or charge for tax, water, sewer, oil in tank, etc), Certificate of Occupancy and real estate commission. This is not a definitive list. Please ask your attorney for specific details and closing costs.