List Your Jacksonville House On The Market
So you’ve reached this page because you’re ready (or at least interested) to list your home for sale on the market. But what does that exactly entail..?
Listing your home for sale can come with many questions and concerns. I will address the most common ones below; in hopes that it will help you to understand and become comfortable with embarking on the traditional home selling endeavor.
What Does It Mean To “List?”
The term “listing” comes from adding your home to the directory of homes available for sale on the market. These homes are showcased on websites like Zillow.com, Realtor.com, and most importantly the MLS.
When hiring an agent you will sign a contract with him/her known as a listing agreement. This agreement states several terms such as property address, contract length, commission percentage, and whats included with the home.
The Home Selling Process
So what happens now? You’ve decided who you want to trust with the sale of your home, and now you’re wondering “what’s next?”
The home selling process doesn’t have to be complicated or a hassle, however there are some steps that have to be completed in order to render the highest price and fastest sale.
Preparing Your Home
Often times, a home may need to be spruced up before it is able to show well to prospective buyers. Sort of like a school picture day. This can include painting, making minor repairs or upgrades, and staging the home with furniture and accessories.
Once the home is ready to be marketed, professional photos should be taken of the entire interior and exterior. These photos should be of high quality in order to showcase your home in the best way possible. 95% of home buyers choose to view a home in person based on photos they saw online. This is why it is vital to market the home well.
From here these photos will get uploaded onto the MLS along with a detailed and accurate listing description describing what makes your home, the perfect home for a new buyer.
Showings, Walkthroughs, & Offers
Now that your home is listed on the market, if it was priced and marketed well, your agent should be receiving requests aka SHOWINGS for the home to be seen by prospective buyers. If so, this is great news! This means your home has garnered immediate interest and if all goes well, should sell fast.
Once a showing has been placed and confirmed, the buyer and their agent will show up to the house and take a look around aka a WALKTHROUGH. If the buyer wants to purchase the house, they will submit an OFFER to your listing agent. Your listing agent is required to communicate with you all offers that they receive in order to choose the highest and best that
Accepting An Offer & The Road To Closing
Once an offer has been accepted by you and your agent, your home is now UNDER CONTRACT! Depending on what financing instrument is being used, there will be several steps to reach the closing table.
These steps include: Inspection, Appraisal, and Funding.
A short while after your home has been contracted, a home inspection will have to take place. This inspection is paid for by the homebuyer, and is required to make sure the home is in proper working order and in reasonable condition without defects. If the home inspector finds anything concerning, the buyer may require for it to be repaired or ask for it to be discounted from the purchase price.
An appraisal is completed by a licensed home appraiser usually a week before closing. This appraiser will take a look at the home and make sure the sales price makes sense based on comparable homes that have recently sold in close proximity. The home will need to make value and be in good condition in order for the bank to lend on it for the purchase price. If the home happens to not appraise for high enough, the buyer may have to bring money to the closing table or the purchase price will need to be reduced.
Funding occurs when the money you’ll be receiving for your home is wired into the title company’s escrow account. These funds will be wired by the bank or by the buyer themselves if they are paying cash. Once the purchase price has been funded, closing should be able to take place a few days later.