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We are glad you are considering selling your home with us. At Bay Realty we have years of real estate and legal experience necessary to make your next sale a smooth and pleasant experience. Just give us a call to schedule an appointment. What can you expect during our appointment?
The Selling Process
Pricing Your Home: During an appointment with you we will give you an approximate value for your home based on market statistics which we gather from current home sales in your neighborhood and based on the features of your home. This report is what we call a Comparative Market Analysis.
At Bay Realty, we will give you a listing price and a suggested selling price that will get you the most money for your property while selling your house in the time frame that you require.
It's very important to price your home correctly in order to get the maximum return on your property, while selling it in a reasonable amount of time. Sometimes overpricing a property can lead to stagnation in the market place and as a result a decreased sales price. On the other hand, in the recent years a strategy of under pricing valuable real estate has created a bidding market mentality. Buyers drive up the price of the property to its true value, sometimes above the initially appraised value.
Listing Agreement: In order for you to make an informed decision regarding whether to sell or not, we will also provide you with a Seller's Net Sheet which will detail expenses and charges you can expect to incur in closing your transaction. Expenses include retrofitting, curative permits, and any repairs necessary to meet local ordinance standards as a requisite to change ownership.
Once the price has been agreed upon you will sign a Listing Agreement with one of our agents. Details in the Listing Agreement include: the price of the home, the commission to be paid, expiration date of contract, type of contract, legal and civic address, and any special conditions required in the sale (e.g. specification if it's a short sale). We will also need a signed Transfer Disclosure Statement in which the condition of the property is disclosed.
Prepare Your Home: To enhance the appearance of your home it is important to prepare it for viewings and open houses. If practicable, removing unnecessary and cluttered furniture as well as lighting up and opening up living space would greatly enhance the appeal and perceived size of your home. Bay Realty can assist you in this process.
Marketing: At Bay Realty we are experts at marketing real estate. While all the brokers will list your home through the Multiple Listing Service (MLS), put a sign outside your property, and hold open houses, we go a step further. We will advertise your house outline through the popular networking sites, through our strategic alliances with local retailers, and through direct mailings to potential buyers identified by our extensive property owner database.
Showings: While your house is on the market potential buyers will come and see your home by arranging appointments with Bay Realty. We will specifically instruct in your advertisement and listings that an appointment must be made before the house can be showed. At the time of taking your listing, we will arrange the best times for you when your house can be viewed. Every viewing appointment will be confirmed with you.
Offers: Soon after listing your house offers will come through and your Bay Realty sales agent will present them promptly. Your listing agent will help you understand the offer and assist you in weighing the offer in lieu of the current market conditions. If necessary, your Bay Realty agent will assist you in completing a counter offer or an acceptance form. Once a purchase agreement is reached, your agent will help you open an Escrow with a reputable Escrow agency in San Diego.
Contingencies Period: In the recent years the banks have become a lot more stringent with the appraisal and loan process. Nowadays it is not uncommon for Escrow to last for 3 months or more, while the loans are approved, financial documents are prepared, and title insurance and appraisal documents are completed. To close, these contingencies must be satisfied or waived by the buyers and sellers respectively.
Closing: When all the contingencies have been removed, and all the documents have been signed and submitted a closing can occur. Unlike other states, in California it is not uncommon for the sellers and the buyers to never actually meet at the closing. The escrow company is going to prepare all the documents. Your Bay Realty agent is going to assist you in reviewing and signing all the necessary documents, and the buyers will do the same. Once all the documents are signed, the escrow company will review and close the file. The transaction is deemed to have been completed on the day when the escrow company closes the file.