SELLER’S GUIDE
When it comes to selling your home, your broker should be a trusted advisor who understands the market to ensure you get the highest possible price and the best terms for your home.
Representation
Once you’ve found a broker, you feel comfortable with its time to sign all the necessary documents to allow your broker to represent your interests adequately.
Pricing
You and your broker will set a price in line with active listings and recently sold homes identified in a comparative market analysis report.
Staging
Prepare your home for public consumption; clear out as much clutter as possible to stage your home to be as visually appealing as possible. Be prepared to have your home professionally photographed.
Receiving an Offer
Your buyer’s broker will draw up a formal offer for you and your broker to review. If you accepted the offer, a cash deposit (typically 10% of agreed upon price), also known as “earnest money,” will be put in escrow as a show of good faith.
Accepted Offer/In-Contract
Once you have an accepted offer in hand, your attorney will step in and prepare the contract for delivery to the buyer's attorney. The Buyer and their attorney will perform their due diligence (reviewing building financials, relevant documents, inspections, etc.) Generally speaking, it takes about 7-10 business days to go from accepted offer to signed contract.
Applications/Board Approval (Co-Op-Condo)
Your broker presents the buyer with the building's board requirements and application documents.
Closing
After receiving board approval, the final step is the closing. The buyer may ask to perform a final inspection of the property immediately before the closing. The closing usually occurs in the office of the building's managing agent; it’s best to allow for a potential delay of up to 30 days from the closing date specified in the contract.
Cost Estimates
Below are some general costs/fees that can occur during the process of selling your home.
Reminder: Costs are an estimation, please use this info as a guide.
