Richmond Virginia Real Estate and Homes YOUR NEEDS ARE MY GOALS !
Mohamed  Mekhimar

The Selling Process


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Selling a home can be stressful, but it doesn't have to be!  I’ll work hard to make your experience exciting and hassle free.  While we are working together I’ll be like your new best friend!  I promise to help you:

  Save Time!
With innovative marketing and accurate pricing, we’ll get your home sold quickly.  And I’ll be there to take care of the details, so you don't have to! 

  Make More Money!
I’ll  negotiate aggessively on your behalf so that you get the best possible price for your listing!

  Stay Informed!
I will always be available to answer any questions you may have during the process.

  Close On Time!
You can be confident that we will close on time and every detail will be checked for accuracy.

Whether this is the first time you have sold a home, or your tenth, I believe that it important to understand the steps involved!  Here is the step by step guide.  But please don't feel like you need to understand everything right away.  There wont be a test!  And I will be there for you every step of the way. 

Step 1: ‘PRE-QUALIFY' YOUR HOUSE

The first impression is the strongest, so make it good!  Tour your house while pretending to be a buyer.  Go stand across the street and look at the front – what would you think if you were sitting at the curb looking at this house for the first time?  Remember, Buyers buy what they see, not what it could be! 

Just a little time and money invested up front pays significant dividends later.  I will provide you with many tips on how to get your home in top showing condition.

Let me know if you have any questions about ‘pre-qualifying’ your house!

Step 2: DETERMINE THE ASKING PRICE FOR YOUR HOUSE

The seller sets the asking price, but only a buyers market determines what the house is truly worth.  Remember when pricing, luxury items that you paid to install may not be valuable to the buyers and could, in fact, be a liability (example: an in-ground swimming pool).  Look objectively at the comparable sales in your neighborhood and set the price accordingly. 

I will provide a detailed market analysis taylored to your listing so that you can have all the info you need to make the best possible pricing decision!

Step 3: YOUR MARKETING PLAN

Make sure your Realtor® uses aggressive and innovative techniques to attract buyers. Not all Realtors are created equal!  The average real estate professional practices what I call the 3 P’s:  Plant a sign in the yard, Put the home in the Multiple Listing Service (MLS) and Pray that it sells.  That plan simply does not work in today’s competitive market!  I work hard to consistently and aggressively market your home every day until it’s sold.  I will go to work immediately to put in place a full service marking program and you can help!  I will provide you with full color property brochures to place at the home and to distribute to your friends, neighbors, relatives and acquaintances.  Tell everyone you know about the sale of your home! 

Remember, your friends and neighbors may know someone who would like to move into the neighborhood. 

Click here  for more information regarding my aggressive marketing strategies. This is the fun part!  Just let me know if you have any questions regarding this step of the selling process.

Step 4: DISCLOSURES

There are several disclosures that must take place before or at the time of contract.  If your home was built prior to 1978, there is a possibility that lead based paint is present in the home.  We must disclose this material fact to the buyers.  As the seller, you must disclose the condition  of the house and any inclusions to the buyers. 

Don’t worry!  I will go over each of these documents with you carefully, and assist you in their completion.

Step 5: NEGOTIATING THE CONTRACT

Now it gets exciting!  I will let you know the minute we have an offer in hand!  We will set a time to go over it with a fine-tooth comb.  You may decide to accept the offer as is, or we might counteroffer  with terms that are more favorable to you. 

For example, if there is a contingency (such as, one that stated that the buyers will purchase your home, contingent on the sale of his/her current home), we may negotiate a Right of First Refusal clause, which states that we can continue to market the house until or unless the buyers remove the contingency.  If another offer is tendered, we would inform the buyers and they would have to either drop the contingency or terminate the contract so that we can accept the second offer.  Contingency offers are common as many buyers do have a home to sell. 

Don’t worry!  I will be there to take care of all of the details and negotiate aggresively on your behalf so that you are satisfied with the terms of the agreement.

Step 6: UNDER CONTRACT

Time to celebrate!  Once the offer or counteroffer is signed, we are officially under contract!  You may decide to continue to market the house for backup offers.  This is a very good idea.  Just be prepared to have reduced showings.  Many buyers and their agents are hesitant to tour homes that are Under Contract/Taking Backups because they feel they are unlikely to have an opportunity to purchase the home.

Once your home is under contract constant review and attention to detail is required to protect your position. I will constantly monitor your transaction until the day it closes!

Step 7: CHANGES TO THE CONTRACT

The contract represents the entire agreement between you and the sellers.  Of course, there can be no written or oral side agreements.  Changes may be made to the contract, however, if all parties agree and everyone signs the appropriate document. 

Don’t worry! I’ll be there to guide you if we need to make a change to the contract. 

Step 8: INSPECTION PHASE

The buyer has the right to have the house inspected for flaws that would cause them to change their mind about either buying the house, or the sales price.  This is because there are so many issues that can be hard for the average buyer to discover (leaking roof, plumbing problems, cracked heat exchanger, etc).  If they choose to have an inspection and they object  to anything that they discover, they must notify us in writing by the Inspection Deadline set in the Contract. If the buyer chooses to ask you to make repairs you basically have three choices.  You can agree to correct all requested items, you can offer an alternative resolution, or you can refuse to do anything.  The buyer would then need to decide whether to withdraw their objections or terminate the contract.  On average, you should expect $300-500 worth of issues to be raised by the buyer.  If the major systems (furnace, water heater, roof, etc.) are at or near their expected life spans, you may want to prepare for more costly requests.

Don’t worry!  This step can sound a bit scary, but I’ll be there to negotiate on your behalf!

P.S.  It is a good idea to prepare for this step ahead of time by purchasing a Home Warranty.  If purchased at the beginning of your listing a Home Warranty will cover many of the items that commonly come up upon inspection, and it ususually costs you a small service fee (around $50) to repair or replace the item!

Step 9: APPRAISAL

Since the property is the asset that secures the loan, the buyers lender will require an appraisal which will determine whether or not the house is worth the sales price.  Appraisers will pull and review the comparable sales, just as we did for the Comparative Market Analysis.  Because they have a range in which to price the house, the majority of homes appraise at, or slightly above the sales price, as long as the sales price falls within their range.  Keep in mind, appraisers can typically only use SOLD comparables, not the available and under contract comparables we considered when determining the price of your home.

Step 10: LOAN COMMITMENT

The buyer is obligated to work diligently with the lender to provide whatever documentation is necessary to obtain loan commitment by the Loan Commitment Deadline defined in the contract.  Loan Commitment is a written document from the lender committing to funding the loan for the purchase of your house.  If the buyer is unable to obtain loan commitment, the contract will terminate.

I will keep in very close contact with the lender to make sure we have loan commitment on time!

Please be sure to contact me if you have any questions at all regarding loan commitment.

Step 11: CLOSING

Woo hoo!  This is the meeting at which all documents will be signed and the deed to the house will be transferred to the buyer. This process usually takes approximately 1 ½ hours if all parties are in agreement and there are no unresolved issues.  Everyone signing must bring adrivers license or a picture id.  I will notify you about 48 hours prior to closing of the exact amount of your proceeds!  

Be sure to bring all keys, garage door openers, documentation, receipts, etc. to the closing. I will work dilegently to make sure we close on time!  

Step 12: POSSESSION

 By tradition, possession of the property is turned over to the buyers on the day of closing, but is sometimes 1-3 days after closing, giving the seller time to move once they are assured that the transaction is completed.  This timeframe, however, is defined by the contract and is part of the negotiation process.  If you are also buying a home, you may want to request a longer timeframe, because you may need to move before you can to give possession to your buyers. 

We will discuss the ideal possession date in detail as we are responding to the offer so that we can negotiate the best terms possible!

Step 13: AFTER THE SALE

Believe it or not, most buyers and sellers don’t even remember who their Realtor was two years after their closing!  It is my mission to provide the highest level of service before and after the sale.  I hope you will feel free to contact me anytime with questions or concerns after you have successfully purchased your home. Your support through referrals to your friends and family members is the heart of my business.  You will be amazed, now that you are planning to sell a home, how many of your friends, family and co-workers will tell you that they too are thinking about buying or selling a home.  So, don’t be shy!  Let them know that I can help them too!

If you have a comment or question regarding these selling steps, please feel free to complete the contact form.   I look forward to hearing from you and helping you with the exciting and hassle free sale of your listing!

And to get ready for the exciting process of buying your next home, be sure to check out the steps involved in the Buying Process.

 


Contacts


Mohamed  Mekhimar
 
Mohamed Mekhimar
Email Mohamed
 
Phone: 804-288-5000
TollFree: 800-772-5220
Cell: 804-243-0605
Fax: 804-288-8989
Address: 7201 Glen Forest Drive, Suite 104
City: Richmond
State: Virginia 23226
Country: United States

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