Our Home Selling Process 🏡

This guide explains our process to sell your home.  Before reading this guide, it may be helpful to read my guides on How To Sell A House In Indiana, or How To Sell A House In Illinois

Step 1 - Listing Consultation

We usaully start this step with a home sale consultation which can be in person or often via a Zoom video call.  At the home sale consultation we:

  • Answer any questions you have
  • Explain the home selling process
  • Complete the home selling questionairre
  • Complete a pre-listing walthrough to identify any work to be completed before listing the home

Step 2 - Prepare Your Home For Selling

Complete Any Pre-Listing Work

At the listing consulation I walk through your home and prepare a list of recommended work (called a “punchlist”) to complete before listing your home on the market.  Some houses need no work, and some houses need much work.  To create a pre-listing punchlist I use my smartphone and Google Docs to provide a list of items with a photo to make it easy to follow.  View a pre-listing punchlist for a house we sold in Bolingbrook IL.

Prepare Your Home For Photography

After any pre-listing repairs are completed, its now time to get the house ready for photography.  The main things to do to prepare for the photo shoot are: decluttering, cleaning, clean up landscaping and mow the lawn, open all the shades, turn off all the fans, turn on all the lights.  Our photographer will help get each photo ready by moving furniture and things around in your home to make each photo look the best.

Step 3 - Determine List Price

You as the seller, of course, have the final say on what price we list your house at.  Its my job as your agent to provide you the market data to make an informed decision.  I do this by completing a Comparative Market Analysis (which we call a “CMA”), which is a detailed comparasion of your home, to similiar homes that have recently sold.  My CMA process is nearly identical to what an appraiser will do to determine the value of your home.  

 

See an example of one of my Comparative Market Analysis reports for a home in Hobart Indiana.

Step 3 - Complete Listing Paperwork

Each state has standardized forms for selling a home.  The different paperwork includes:

 

  1. Listing Agreement – See the Listing Agreement 
  2. Property Disclosure – See the Illinois Property Disclosure or the Indiana Property Disclosure
  3. Lead Based Paint Disclosure (if home was built before 1978) – See the Illinois Lead Paint Disclosure or the Indiana Lead Paint Disclosure
  4. Radon Disclosure (Illinois) – See the Radon Disclosure (not applicable in Indiana)
  5. Brokerage forms: Affiliated Business Form, Agency Policies Form, Wiring Fraud Form.  See the Illinois forms for: Affiliated Business, Agency Policies, & Wiring Fraud.

Step 4 - Photo & Video Collection

We are partnered with a photo editor and a video editor that takes the photos and videos and makes them into something pretty amazing.  Our photos are “bracketed” photos, meaning each photo is actually 7 photos of the same picture with different white balance so that the editor can combine them into one super photo (which is how you can see through windows in the listing photos.). The editors have a long checklist of other tuchups and edits they complete.

Step 5 - Pre-listing Marketing

This is when our 87 point marketing plan kicks into high gear!  Some highlights of our marketing plan include:

  • Putting your home in the private listing network before going live in the public listing network
  • Completing a “reverse propespecting” campaign where we research buyers that have a saved home search alert that your home meet the criteria of, and we reach out to those buyers

Step 6 - Listing Goes Live in the Multiple Listing Service (M.L.S.)

We are partnered with a photo editor and a video editor that takes the photos and videos and makes them into something pretty amazing.  Our photos are “bracketed” photos, meaning each photo is actually 7 photos of the same picture with different white balance so that the editor can combine them into one super photo (which is how you can see through windows in the listing photos.). The editors have a long checklist of other tuchups and edits they complete.

Step 7 - Showings

We are partnered with a photo editor and a video editor that takes the photos and videos and makes them into something pretty amazing.  Our photos are “bracketed” photos, meaning each photo is actually 7 photos of the same picture with different white balance so that the editor can combine them into one super photo (which is how you can see through windows in the listing photos.). The editors have a long checklist of other tuchups and edits they complete.

Step 8 - Receive, Negotiate and Accept an Offer

We are partnered with a photo editor and a video editor that takes the photos and videos and makes them into something pretty amazing.  Our photos are “bracketed” photos, meaning each photo is actually 7 photos of the same picture with different white balance so that the editor can combine them into one super photo (which is how you can see through windows in the listing photos.). The editors have a long checklist of other tuchups and edits they complete.

Step 9 - Escrow Process

The time from accepting an offer to the closing is called “escrow.” We are partnered with a photo editor and a video editor that takes the photos and videos and makes them into something pretty amazing.  Our photos are “bracketed” photos, meaning each photo is actually 7 photos of the same picture with different white balance so that the editor can combine them into one super photo (which is how you can see through windows in the listing photos.). The editors have a long checklist of other tuchups and edits they complete.

Step 9 – Escrow Process (The time for accepting an offer to closing)

Once an offer is accepted, the period of time until closing is most often called “in escrow” or “under contract.”  Many things happen in this period of time, including:

  • The buyer will have the inspection completed
  •  If the buyer is getting a home loan to buy your home, after the offer is accepted, the buyer will then complete the full loan application, and the lender will begin the “underwriting” process, which is when the lender reviews the full loan application (latest bank statements, proof of employment, latest credit, etc) to approve the loan
  • The title company prepares the closing documents (title insurance, warranty deed)
  • In Illinois the buyer and seller onboard their own attorney to represent them.  In Indiana attorneys are generally not involved.
  • The title company and the lender will coordinate to finalize the “settlement statement” – which is the the document that lists all the fees and credits.  The settlement statement will be provided by the title company within 48 hours of closing (and its usaully down to the last minute when the title company sends this information.)
  • The buyer will wire their closing funds to the title company to hold the funds in their escrow account so that the funds are on hand and available for closing.  In Illinois, funds up to $50,000 can be in the form of a cashier’s check, and above $50,000 has to be wired.  In Indiana, funds up to $10,000 can be in the form of a cashier’s check, and above $10,000 has to be wired.

Step 10 – Closing

The title company