The Seller Roadmap, From First Call to Closing

Stage 1: A first private conversation

The sale begins with a conversation, not paperwork. Sidney, a licensed real estate agent in real estate since 1990, begins by listening.

Topics usually covered:

• Why you are considering a sale, and whether a particular date matters
• Where you plan to live next, and whether you intend to buy before or after you sell
• Who is on title, and who else should be part of the decision
• What you know about the home's history, condition, permits and past repairs
• Any concern about privacy, such as how visible you want the sale to be

Nothing is signed at a first conversation. The buyer-broker agreement that has been in the news applies to buyers only; it plays no part when you are exploring a sale. If you are simply curious about where things stand, that is a perfectly good reason to talk.

A note on discretion. Many owners of architecturally significant or high-equity homes prefer that neighbors, staff or extended relatives not learn of a sale before it is announced. Say so at the outset. It shapes everything from the photography schedule to who is told what and when.

Stage 3: Strategy and sequence

Before anything is signed, decide how the home will meet the market. The decisions here include:

• Timing. Whether to list soon or prepare over a longer period.
• Occupied or vacant. Whether you will live in the home during the listing.
• Preparation path. Light preparation, selective improvements or an as-is sale.
• How the home is shown. You choose between open houses and private appointments, or a combination, and you can change your mind during the listing.
• Private-to-public sequence. Some owners prefer a quieter period before broad public marketing. What is possible depends on the rules of the multiple listing service and on your listing agreement, and each approach involves trade-offs in exposure. Sidney explains the options available for your home so you can decide with the trade-offs in view.

If this, then that:

• If you must buy before you sell, then speak with a lender before you set a listing date, so the sale terms, such as the closing date and possession, can be written to fit.
• If the home holds art, collections or heirlooms, then plan their removal or storage before photography, not after.
• If the home is held in a trust or estate, then read Selling an inherited or trust home and involve the attorney before you set dates.

Stage 5: Preparation

Preparation is where most of your own effort goes: editing rooms, small repairs, cleaning, grounds and gathering documents. The pre-listing preparation checklist works through it in sequence.

Decide early which items you will repair and which you will disclose and leave to the buyer. Selling as-is is a legitimate choice; it still carries disclosure duties.

Stage 7: Photography and launch

Once the home is ready, it is photographed, the listing description is written and checked line by line for accuracy, and the home is introduced to the market in the sequence you chose. The staging and photography preparation guide covers the days before the photographer arrives, including the handling of art and personal effects.

Stage 9: Offers and negotiation

When an offer arrives, Sidney reviews it with you line by line. Price is one term among many. Others that deserve equal attention:

• The deposit and when it is delivered
• Financing, and whether the buyer's loan depends on an appraisal
• Contingencies, such as inspection and loan contingencies, and how long each lasts under the contract
• The closing date and when possession passes
• What stays with the home, such as light fixtures, window coverings or garden pieces
• Any request to rent back after closing, and on what terms

You may accept, decline or counter, and counteroffers can go back and forth more than once. When several offers arrive, the strongest is not always the highest; certainty and terms carry real weight.

When several offers arrive, the strongest is not always the highest; certainty and terms carry real weight.

Stage 11: Closing and keys

At the end of escrow you sign the closing documents, the deed records and funds are disbursed under the escrow instructions. Possession passes on the terms in your contract. The closing week and moving-out checklist covers the final stretch.