The Selling Process

We will meet with you and go over the listing contract, gather any additional information, and prepare documents necessary to list the home on the Northwest Multiple Listing Service.

• Listing Input Form
  • Sales Price
  • Location, including Legal Address
  • Home and Property Information
  • Home Features and Amenities
  • Local Area features
  • Property Tax Information
• Listing Agreement
  • Agency Relationship
  • Terms
  • Compensation
  • Legal Information
• Seller Disclosure
  • Covers specific information about the home including condition, repairs, rights, and other related information.
• Other Purchase Forms
  • FIRPTA
  • Lead-based Paint (if needed)
  • Utilities
  • Well and Septic (if applicable)
  • Legal Address

We will consult with you about what you will need to do to get your home ready for sale. We will discuss:

• Preparing the home for show.
  • Fixes necessary to improve the presentation.
  • Staging your home (using your furniture or a professional stager).
  • Curb appeal.
• Preparing for tours
  • Times and availability.
  • Securing pets, valuables, and medication.
  • Open Houses (days, times)
• Marketing preparations
  • Signage
  • Flyers and Boxes
  • Interior Feature signs
  • Photo shoot / video shoot / drone shoot
  • Virtual Tours

This is the first day that brokers and buyers will see your home on the NWMLS. When the NWMLS activates the listing, most every real estate website in Western and Central Washington State will post it as well.

• Set up in the home is completed. These are the flyers boxes, home book, and other sales information.
  • For Sale Sign is posted in a conspicuous location.
  • Flyer box display and flyers are set up at your home.
  • NWMLS Keybox is placed on your home for broker access for showings.
• Marketing is initiated.
  • Listing is activated by the NWMLS.
  • Listing is transmitted to most of the NWMLS real estate brokerages.
  • Flyers are sent to brokers in all target markets.
  • Reverse market to brokers commences.
  • Social Media Market initiated.
• Setting up Open Houses – Contrary to the consensus of many brokers, open houses do work. We have sold many homes because we opened them up to the agentless buyers. There are several ways we can do open houses.
  • PUBLIC OPEN HOUSES: These are when homes are open to the public and are set for specific days and times. Our system allows for maximum exposure and follow up.
  • BROKERS OPENS: These are open houses primarily for brokers. They allow brokers from various agencies to tour the home together. This give more exposure to the people that will be representing buyers.
  • VIRTUAL OPEN HOUSES: These are open houses that are done by video. Some are live and are scheduled for specific times with a live virtual audience. It is very interactive. Others are basically video tours that are posted on the listing and potential buyers can click on them and take the tour at their own time.

Your home is now on the market and it is time for you to relax and let the broker handle all the inquiries. For the showings, we will advise you of each showing. It is best if homeowners are not in the home when the home is being shown.

• We will provide you with feedback from each showing.
  • We will review each showing.
  • We will solicit feedback from the brokers showing your home and pass it on to you.
  • We will also provide you with an activity report on a regular basis.
• If you have agreed to allow us to do open houses, we will discuss with you the times and days.
  • We will help you prepare the home for the open house.
  • We will advertise and place signs in the area to market the open house.
  • We will track the activity and feedback and provide you a report at the end of the open house.
• Adjustments in the listing. As we monitor the market, we will note the activity and the trends in the marketplace. We will . . .
  • Advise if there are needed changes in the listing or marketing.
  • Discuss with you any necessary changes in price or terms.
  • Suggest incentives that we can add if the home is not selling or if there is insufficient activity.
• Depending on the market, the home may sell the first day on the market or it may take longer. Every home is different. Even in a hot market there are homes that are waiting for a very unique buyer and will take a little longer to sell. We will be with you throughout the process.

Depending on the market, we will have either set a specific date to review offers on your home, or we will be reviewing offers as we receive them.

• We will review with you the prices and terms of each offer that is received. In the case of multiple offers, we will provide you with a side-by-side comparison. We will look at . . .
  • Price
  • Earnest money
  • Closing Date
  • Inspection terms
  • Financing
  • Contingencies
  • Concessions
  • And any other condition item affecting the value of the home and of the offer.
• We will discuss with you the pros and cons of each offer, answer any questions you may have, and suggest potential counter offers if necessary. Ultimately, accepting, rejecting, or countering is your decision. We will provide you with all the information you need to make a solid decision.

We will be your representative between the buyer, the buyer’s agent, and you. We will work with you as we negotiate the best possible contract for you.

• Items that are normally negotiated are:
  • Price
  • Closing costs
  • Closing date
  • Move in date
  • Inspection terms
  • Financing
  • Contingencies
  • Concessions
• Of course, most things in the contract can be negotiated. We will work with you to find a mutually acceptable contract that meets your expectations.
• Negotiations can begin either before or after the offer is submitted. This is the job of the professional Real Estate Broker as your representative. Our job is to get the best deal possible for you.

When all parties have come to an agreement on the terms of the sale, we then need to get all parts of the Purchase and Sale Agreement (PSA) changed to reflect the changes. Once that is completed, all parties need to sign the agreement. At that point, mutual acceptance is established, and the contract clock begins.

• All things that have a set time to be completed are on the timeline that begins at mutual acceptance.
• The date of mutual acceptance is considered ‘Day Zero’ with the following day, ‘Day One.’
  • Inspection time begins. For example, if there are ten days for the inspection to be completed and the response presented to the Seller, then the day after mutual acceptance is day one.
  • Earnest money must be taken to escrow immediately.
• It is important to know the ‘Computation of Time’ clause in the contract. We will go over that with you.
• The Sale Process begins at Mutual Acceptance.

Once the offer has been negotiated and accepted (mutual acceptance) the transaction or purchase process begins.

• Documents are sent to all parties (lender, escrow, title, all agencies, etc.).
• Earnest money is collected and submitted to escrow.
• Title search begins.
• Inspection is scheduled.
• Loan approval process begins.
• Seller begins to implement plan to move.

Earnest money should be deposited with escrow almost immediately. A deposit receipt is sent to the Listing Agent. We will see that you get a copy of the receipt as soon as we receive it.

• If you personally deliver the earnest money to your escrow company, you have 24 hours to deliver the check to them.
  • The escrow company will give you a receipt for the check.
• If you hand the check to your real estate agent, the agent has three days to deposit the check.
  • The agent will give you a receipt when he receives the check from you.
  • The escrow company will send you a receipt when the agent delivers it to them and they have received it.

Unless the buyer has waived the inspection, there is a contractual obligation by the buyer to schedule an inspection on the home and provide an inspection report to the seller within the agreed upon time frame.

• The Buyer’s inspection time in the home could take anywhere from two to four hours. The seller must allow the buyer access to the home to complete the inspection report.
  • The inspector, and the buyer’s agent will be present for the inspection.
  • In most cases, the buyer will also be present for the inspection. Seller should not be at the home for this inspection.
  • Inspector will prepare a report for the Buyer. This is generally not shared with the seller.
• Buyer will, within the timeline, provide the seller with an Inspection Response form (35R) in which the buyer will indicate any repairs or alterations that the buyer considers a condition of purchase.
• The seller (you) will respond to the buyer’s requests in one of three ways.
  • Seller accepts the response and agrees to complete all the repairs. The inspection phase is completed, and the inspection contingency is satisfied.
  • Seller rejects the response and does not agree to do any repairs. Buyer needs then to decide whether or not to continue with the transaction.
  • Seller proposes a different remedy, perhaps fixing some but not others, or could be a totally different remedy. Buyer will decide whether or not to accept or counter Seller’s response.
  • We will help complete the response and get it to the buyer and agent.
• The Buyer can accept or reject the Seller’s response, unless the seller has already agreed to all the repairs.
  • Buyer accepts the Seller’s response and the inspection contingency is considered satisfied.
  • The Buyer rejects the Seller’s response and the contract is terminated. The home goes back on the market.

As the inspection process is taking place, the other areas of the transaction are also moving forward.

• Buyer’s Lender orders appraisal after inspection agreement signed.
• Lender completes and submits loan documents to underwriting.
• Lender’s Underwriting Team reviews and approves loan.
• Seller prepares for moving.
  • Notify utility companies of change in address or provides a termination date for services.
  • Notify insurance companies of address change and closing date.
  • Contact moving companies.
  • Prepare address changes to post office, magazines, employer, etc.
• Loan documents are sent to escrow.
• Escrow prepares all final documents and schedules signing. Settlement statements are sent to both Seller and Buyer.
  • Seller reviews estimated Settlement Statement and submits any requests for changes.
  • We will assist with any questions or changes that need to be made.

The closing process begins approximately one week before the negotiated closing date. This is the time when all the final documents for the purchase are finalized and signed.

• The Buyer will do a final walk-through of the home 3-7 days prior to the closing date.
  • Are the agreed upon repairs are completed?
  • Is the home in the negotiated condition?
  • Are all of your personal items are removed?
• Escrow prepares all final documents and schedules signing.
  • Signing is usually done at the Title and Escrow office, but can be arranged to be at your home, office, or another location.
  • Translation services are available as well.
• Seller and Buyer receive settlement statements for review. This shows all the money transfers, costs in the transaction, and amount needed to be brought to the signing.
• Seller and Buyer sign documents and pay any closing costs.
• Escrow submits title change to County Recorder.
  • When title has been successfully transferred, county advises escrow.
  • Escrow advises all other parties.
• Once the recording office has notified us of the change in title, we will advise you. Your home is officially sold.
  • We will arrange for the listing agent to get a copy of the keys, remotes, garage door openers, etc.
  • Signs, displays, and all things related to the sale of the home will be removed.

Congratulations on the sale of your home. We are more than happy to help you in any way with the transition. If you have purchased another home in the area through us, we will see that your move is smooth. We have many services that will help the make the transition as comfortable as possible.

The Marks Home Team will not only represent you throughout the transaction process but will continue even beyond that. That is our commitment to you.

Often there are still some tasks to complete when the transaction is completed. We will help you by providing referrals, resources, and following up on information and documents. We do not end our relationship with you at the end of the transaction. We are available to you anytime.

If we have helped you in the purchase of your new home, we will help in any way possible in effecting a smooth transition into your new home.

• Sometimes there are tasks that need to be completed after the purchase of your new home, things such as painting, flooring, window coverings, cabinet repairs, roofing, trash removal, etc. We have lists of resources to help you complete these tasks. Just let us know what you need, and we will jump in and help.
• We have been in the home remodeling/restoration and ‘flipping’ business and have experience that can help you with design ideas and recommendations. We can also refer you to contractors and other professionals that can help you with your home.
• We hope and pray that you are happy with our services. If you are, we would ask of you two quick favors.
  • Testimony: We would love to have you comment on the service we provide you. This can be as easy as a two- or three-line comment sent to us via email or text. We also ask if you would make testimonial comments on Google, Yelp, Facebook, Instagram, and other media sites.
  • Referrals: If you know of someone who is considering purchasing or selling a home, we would certainly appreciate being referred. For us, it is the best thank you that you could give us.

We like staying in touch with our clients. We value all our relationships.

• We have a newsletter that keeps you up to date on information related to homeownership.
• We provide you with regular market updates which help you to ascertain market timing in the event you wish to sell your current home.
• We will provide you with a comparative market analysis (CMA) to help you track the changing value of your home.