Timeline for Selling a Home | Home Selling Process - YouTube

Hi, in today's video we're going to  look at the process of selling a home  

after you've signed the listing paperwork what  happens next and we're going to start right now

hi my name is David Matney with Nebraska Realty  I'm a local realtor here in Omaha Nebraska  

now in today's video we're going to look at the  process of selling a home after you've signed  

the listing paperwork what happens next all right  after you've signed the listing paperwork the next  

step in the process is the home stager is going  to come out and stage the property the stager is  

going to be there a couple of hours and the stager  is going to make suggestions as to how we should  

present the property for showings now depending  on the situation and every home is different  

after staging it could take several weeks before  the home is ready for photos or it could be ready  

for photos the next day every home is different  okay but after the staging is complete then what  

happens and the home is ready for photos then the  photographer is going to set an appointment to  

take photos of the property now keep in mind we're  going into fall okay so let's say the stager comes  

out and there's a lot of stuff you need to do in  the inside and it may not be ready for several  

weeks okay but the outside looks good now it might  be a situation where it might be a good idea to  

take the photos the exterior photos now before the  snow flies and then the interior photos when the  

all the inside repairs and updates are completed  so keep that in mind especially as we go into  

December and we go into fall all right once the  exterior and the interior photos are complete  

and that'll take a couple days to get those back  from the photographer ah maybe not to a couple  

days it takes a day or two to get the photographer  back then what will happen the home will go live  

on the multiple listing service and when it goes  live on the multiple listing service that's when  

it'll be available for showings for agents to show  the property now keep in mind in terms of showings  

you might get very little notice and in some  sense instances you'll get a day or two of notice  

the situation's going to be it'll depend okay you  want to make sure you do not turn down showings if  

it can be prevented now there might be situations  where yeah you have to turn down to showings  

but sometimes you only get one crack at that  buyer so you want to make sure it's available  

to everybody who wants to take a look at it  all right you've shown the home you've got an  

offer now the contract has been negotiated what  happens after the contract has been accepted  

okay the next thing that's going to happen after  the contract is accepted copies are going to go to  

the lender and to the title company the buyer will  then more than likely will do a home inspection  

okay and they'll give you a couple days notice but  what will happen is the homeless inspector will  

show up to the property let's say at eight o'clock  and then at 11 there will be a walk through okay  

and the inspector is going to be there by himself  for a few hours the the buyer shows up at 11 30 to  

do the walk through and then they're going to um  go through the property and any um deficiencies  

that they found in the home inspection now it may  be a day or two after the inspection is complete  

before you find out what the buyer decides to do  the buyer has three options the buyer can decide  

to take the property as is the property could ask  the seller to make some repairs or the buyer can  

say hey you know what there's too much wrong  with this property hey we want to bail okay so  

after that home inspection in a day or two you'll  get the home inspection results and at that point  

you can decide you have options as well you can  decide to make those repairs you can decide not  

to make those repairs or you can even negotiate  what repairs you will make and it's not unusual  

for things to go back and forth and it's also not  unusual for the seller to ask for additional time  

in order to get estimates on those repairs  okay okay after the home inspection is complete  

if you're selling the property you want to  make sure you get those repairs done right  

away don't wait to the last minute because a lot  of contractors are very busy it's always a good  

idea to have any repairs done done by professional  contractors that way you can have a paid invoice  

and that you have proof that the work was done  it's now's not the time to have uncle bob show  

up and make the repairs himself because again  there's a liability issue so it's better to have  

professional contractors complete those repairs  okay and then after those repairs are complete  

you want to provide those receipts to your agent  that way that agent can make those available to  

the buyer before closing when the contract goes to  the title company the title company is going to be  

doing a title search now the kind title company  is going to be contacting you for additional  

information they're going to ask for your social  security number and they're going to ask for your  

loan information and they're going to do a title  search to make sure what liens have to be cleared  

before closing as part of the lending process one  of the things that has to happen is the lender is  

going to order an appraisal for the property  okay now here's the thing with the appraisal  

typically for most homes depending  on the financing and the terms of  

the contract but let's say that you sold  the home for two hundred thousand dollars  

the lender is not going to give money on that  property unless it's worth hundred thousand  

dollars okay now in our market right now we have a  very hot market so a lot of times what will happen  

is you'll have um exposure to the market you might  have four or five offers you might have started at  

two hundred thousand dollars but now you're up  to 220 okay now that appraisal has to be worth  

if it's like for example if it's FHA financing  fha financing says it has to be worth 220 okay so  

what do you do in that situation okay one of the  things you can do is on that appraisal is make a  

list of all the updates and how much those updates  have cost you and put that out so the appraiser  

can see it you can also put together like a  little packet for that appraiser to say hey  

these are other homes that have sold in the area  and here's what they sold for in order to kind of  

support that sales price but that's what you  can do for that appraisal in some situations  

it may be better to take the lower offer and  more solid terms rather than a higher offer  

at FHA the situation is going to be dependent and  your agent will help you walk you through as to  

what offer may be the best choice  in terms of which offer to take  

all right the next thing that's  going to happen as part of the loan  

process and the way our contracts are written is  they're going to do a termite inspection now the  

property has to be free and clear of wood  destroying insects in order to close so that's  

going to be part of the process okay after  the termite inspection after the appraisal  

the title company is going to  order a loan payoff and then the  

buyer is going to schedule the buyer  walk through and the closing okay now  

for closing the seller does not have to show  up to closing in our state what will happen  

is about a week before closing what will  happen is the title company will contact you  

and they'll have you come into the title company  and sign what they call the deed set okay and that  

is actually your portion of the closing and then  a week later the buyer shows up with their money  

and the buyer is going to sign their set of  paperwork that way you don't have to show  

up to closing and then after closing then the  buyer is going to get the key to the property  

and the buyer gets to occupy the property and  the seller will get their check now about a  

day or two before closing what's going to happen  is the buyer is going to do a walk through okay  

and they're going to make sure during this walk  through that all the terms of the contract have  

been met so that means if the buyer asked for the  stove to be included and the refrigerator included  

that the refrigerator is there and the stove  is there and any repairs that are done the  

buyer can walk through and make sure that those  repairs have been completed okay now the seller  

ideally would be out of the property at  the time of the walk through but in some  

situations that's not the case some situation  the seller may be right up to day of closing  

still moving out but however as at closing  let's say it closes at Friday at 11 o'clock  

in the morning at 12 o'clock that buyer will  get that key that closing is going to take  

about an hour and the buyer is going to show up  to that house with all their belongings and want  

to move in so the seller at that time has to be  out of the property okay you want to make sure  

before you move out that the home is clean and the  yard is mowed and things like that okay just um  

is just common courtesy but again don't leave  things you know junk behind because if if they  

go through that walk-through and junk is left  behind then that may declare delay closing and  

you don't want that to happen all right that kind  of concludes the the home buying process after  

the contract after the listing paperwork has been  signed now if you have any questions or anything  

like that now be sure to look at this video here  because we talk about the whatever i don't know  

what we're going to talk about but we're going to  talk about something probably pretty interesting.