10 Steps to selling your home
Discuss in person or video conference Zoom/facebook to discuss the process. Provide up to date CMA (competitive market analyzes ) of similar homes that have sold in your area over the last 3-6 months. This will give us a great guide as to the market value of your home!
We will provide you with a “Sellers Net Estimate” sheet of all costs based on the selling price.
This way you know what to expect on the bottom line.
Once we agree on a market price and terms we will enter into a “Listing agreement” which allows us to list and sell your property. You as the owner will also be required to sign a “Sellers Disclosure” This is a form you need to fill in and sign stating any know defects of the property if any.
Now the fun part! We will list your property on the MLS ( multi listing service ) we also list on the IMLS which also cover International marketing in over 100 languages. Needless to say we will also market your home using our Mr.Vacation Home brand. Signage will be place outside the home if requested ( many owners do not want signage as they do not want guests to know the home is for sale ). We take professional pictures of your home and make recommendation on any changes if needed to best show your home. We will also take a great video of your home promoting all the features which we promote on several social media platforms, Youtube, Instagram, Facebook to name a few. We also email our investor list as we have many clients interested in buying an Investment/vacation home.
We also offer a full “ concierge “ viewing service with one of our experienced staff. This is particularly important if the house is full of bookings. We would coordinate with the property management company and the guests a suitable viewing time. This can also be done in between bookings if preferred.
Now the exciting part! Receive offers and present to buyer. All offers will be discussed in detail and measured on the strength of its own merits. Once an offer is accepted we go “Under Contract” and list the property as “Pending” this let other buyers know you have accepted an offer. But a sale is not a sale until it closes, and funds have been dispersed from and to all parties.
All documents are given to the “Title company” the title company is the legal body that acts as the intermediary between buyer and seller. They complete and file all documents required by law. We will use our Title company unless you request another.
Buyer is required to provide a deposit which will be held by the Title company in an escrow account. The buyer then has the option to request a “Home inspection” if buyer is financing with a mortgage lender, the lender will have the property appraised by an independent Property Appraiser.
If you get a cash buyer! Great! If the buyer is financing with a mortgage lender they will be given a "clear to close" once they have satisfied all the lender requirements this can take approx. 4-6 weeks from mortgage application. Please note that an offer would not be accepted if the buyer was not in possession of a “mortgage offer letter” which is a letter of intent from the lender based on information provided by the buyer.
The final stage will be “Closing” where all documents have to be signed by the buyer and seller. This can be done either at the Title company or you can request a “ Mail Away” where documents are sent to you electronically anywhere in the world. Note: You may require a notary in some cases. Naturally we will discuss this with you in advance and make sure that we have everything in place to avoid any surprises.
Once all documents have been signed and returned the funds will be dispersed and transferred to your bank within 24 hours.
Congratulations you have sold and CLOSED on your home.
Mr. Vacation Home
Top 10 tips
What we need from you to sell your home.
Name of property management company with contact details.
Name of your CPA ( Accountant ) FIRPTA tax code have the ability to withhold 15% of the sale if you live outside the US if you have not completed all your tax affairs. This money can take over 6 months to get back. Talk to your CPA about this.
Warranty paper work for the home or appliances
List of bookings you have in place, provide dates and revenue from bookings. Please provide calendar of bookings to allow us to plan viewings of your home.
List of utility suppliers
Mortgage company info if you have a loan on the house.
HOA contact information and monthly dues.
CDD information if you are paying one. The amount per month
Who owns the property? Legal names with contact information
Address of the property and access codes/keys.
This information will help us to make a smooth transition from you to the buyer.