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Seller's Guide

What we can do for your property

Everything you need to know about putting your home on the market, accepting an offer, and closing on your home.

After we’ve prepped your house for sale, taken photos, and set a price, we’re ready for the public to see your home.
 

What Is a Showing?

A showing takes place either at an open house, which is a scheduled session when anyone can come by without an appointment, or during an appointment scheduled with us.
 

How Do I Prepare My House for A Showing?

We’ll talk through specific preparations so that your house is positioned competitively in the market. And, we’ll put you in contact with professionals such as renovators, decorators, and stagers who can help.
 
Preparations will include two phases. During phase one, before photos are taken and before the first showing, consider the following action items:
 
  • Clean deeply
  • Paint some or all of your house
  • Do minor repairs such as caulking tubs and windows
  • Make major repairs – if needed and in your budget, such as replacing your counters or appliances
  • Stage your furniture to showcase your home’s best features
  • Remove personal items such as family photos
  • Declutter every surface and storage space
  • Reorganize your closets and pack excess items
  • Eliminate odors by cleaning the fireplace or shampooing rugs
  • Create an appealing color scheme with curtains or pillows to warm up your home
  • Upgrade your lighting or lightbulbs to make your rooms brighter
  • Spruce up the landscaping
  • Power-wash your decks and sidewalks if needed
Phase two, the last-minute prep just prior to any showing, includes:
 
  • Turn on the lights and open the blinds for maximum light
  • Take out the garbage
  • Make the beds
  • Clear and dust surfaces
  • Take your pets with you and put away pet bowls
  • Hide your valuables
  • Turn off your computer
  • Set the temperature
  • Put out fresh towels

 

What Can I Expect when Showing My House?

Three important things you can do to help get your house sold are:

 

  1. Leave when your house is being shown Buyers prefer to look at homes when they can move around freely and the owners aren’t there.
  2. Make your house as available as possible. While it may be inconvenient to show your home at certain times, buyers who can’t see a property when they’re eager may cross it off their list.
  3. Listen to any feedback from buyers or their agents about ways you can make your home more appealing.
We’ll work together to ensure maximum exposure and a faster sale.
When you receive one or more offers on your property, we can rank them based on your priorities and help you analyze, clarify, and compare your offers.
 

What is an offer?

An offer to buy your home is a purchase agreement signed by the potential buyer that includes:
 
  • The amount of the offer
  • An explanation of how the buyer will pay, such as cash or a pre-approval for financing
  • The terms – such as a request for closing-cost help or contingencies such as the sale of the buyer’s house, a final mortgage approval, a satisfactory home inspection, and an appraisal
  • A target date for closing
  • An earnest money deposit
  • A time limit for the offer
How do I evaluate each offer?
When you receive an offer to buy your home, we’ll review it and consider whether you want to accept it. Whether you have one offer or several, we’ll look at:
 
  • The amount offered
  • Whether the buyer has included or waived contingencies
  • Where the funds are coming from, such as all-cash, a reputable local lender, a well-known online lender, or an unknown out-of-town lender
  • The proposed closing date and date of possession of the house to see if it aligns with your needs
  • Any special requests for items to convey or for special inspections

What happens if I receive multiple offers?

If you receive multiple offers, we’ll explore the following options:
 
  1. Accept the best offer. If one offer stands above the rest, you can accept that one right away.But be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer hasn’t explained a plan for a possible low appraisal.
  2. Counter all the offers to get a better price and terms. You can ask all potential buyers to give you their best offer by a certain deadline. Counter one offer that’s close to what you want. If you like one offer but think the buyer could do a little better, you can send them a counteroffer to see if they’ll accept.
When you receive one or more offers on your property, we can rank them based on your priorities and help you analyze, clarify, and compare your offers.
 

What is an offer?

An offer to buy your home is a purchase agreement signed by the potential buyer that includes:
 
  • The amount of the offer
  • An explanation of how the buyer will pay, such as cash or a pre-approval for financing
  • The terms – such as a request for closing-cost help or contingencies such as the sale of the buyer’s house, a final mortgage approval, a satisfactory home inspection, and an appraisal
  • A target date for closing
  • An earnest money deposit
  • A time limit for the offer

 

How do I evaluate each offer?

When you receive an offer to buy your home, we’ll review it and consider whether you want to accept it. Whether you have one offer or several, we’ll look at:
 
  • The amount offered
  • Whether the buyer has included or waived contingencies
  • Where the funds are coming from, such as all-cash, a reputable local lender, a well-known online lender, or an unknown out-of-town lender
  • The proposed closing date and date of possession of the house to see if it aligns with your needs
  • Any special requests for items to convey or for special inspections

 

What happens if I receive multiple offers?

If you receive multiple offers, we’ll explore the following options:
 
  1. Accept the best offer. If one offer stands above the rest, you can accept that one right away. But be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer hasn’t explained a plan for a possible low appraisal.
  2. Counter all the offers to get a better price and terms. You can ask all potential buyers to give you their best offer by a certain deadline. Counter one offer that’s close to what you want. If you like one offer but think the buyer could do a little better, you can send them a counteroffer to see if they’ll accept.
As you near the end of your home sale journey, one of the last remaining steps is getting your home appraised. We’ll help you gather the necessary materials and prepare for the appraiser’s visit.
 

What is an appraisal?

An appraisal is an objective valuation of your property that serves as a safeguard for the buyer and the buyer’s lender. While the buyer pays for an appraisal, the appraiser actually works for the lender. While an appraiser may look at some of the same things as a home inspector, the result is an appraised value of your property rather than a condition report.
 

How is my house appraised?

Appraisers use as many measurable pieces of data available to provide an accurate value of your property, including:
 
  • Comparable properties in your area that are of similar size, age, and condition
  • The condition of your home’s systems and structure
  • The square footage of your property
  • The number of bedrooms and bathrooms
  • Your location
  • The quality of your flooring, plumbing, and electrical systems
Appraisers include research about other properties and neighborhood values, as well as an in-person visit for their evaluation of your home.
How should I prepare for an appraisal?
Preparing for an appraisal is similar to prepping for an inspection. Consider the following action items:
 
  • Provide a list of all major improvements to the home and the age and condition of your roof, heating and air conditioning system, and appliances
  • Provide any permits required for home improvements
  • Clean your house
  • Provide full access to all rooms and spaces, including the garage, sheds, attic, and crawlspace
  • Remove or crate your pets
  • Leave the house, or at least stay out of the appraiser’s way

How can an appraisal affect my home sale?

An appraisal could require a renegotiation if the property value comes in lower than the sales price. The appraised value dictates the maximum amount the lender will allow the buyers to borrow, minus their down payment. Depending on how the contract was written, if the appraisal is low, we can:
 
  • Ask the buyer to come up with extra cash to make up the difference between the loan amount and the purchase price
  • Reduce your price to the appraised value
  • Split the difference with the buyer
  • Cancel the contract
Should this happen, we’ll explore all available options in the context of the contract and market conditions.
You’re one step closer to selling! There’s quite a lot to consider when closing on the sale of your house. Let me walk you through what you can expect.
 

What should I do before the closing?

Before closing day, you’ll need to:
 
  • Take care of repairs required by the contract
  • Keep all receipts and invoices and before-and-after photos of repairs
  • Gather all appliance manuals and warranties for your buyers
  • Hire a mover
  • Cancel all utilities for the day after you move
  • Cancel newspaper subscriptions
  • Change your address
  • Review all settlement documents, especially the settlement statement
  • Check the property survey to be sure it’s correct
  • Clean the house
  • Prepare for the buyers’ final walk-through

What can I expect when closing?

Sellers may or may not attend the closing, so we’ll work alongside the settlement company to decide what’s best. You may be able to sign all documents before the official closing. Seller expenses, which are deducted from the proceeds of the sale, include:
 
  • Final balance on your mortgage
  • Real estate commissions
  • Prorated property taxes, utility bills, homeowners insurance, and homeowners association dues
    If you can’t move before the closing, you may need to arrange a rentback from the buyer. A rentback agreement would allow you to remain in your home for a specified amount of time after closing. We can help you complete appropriate paperwork for a rentback should you need it.
If you are moving, the buyer will do a walk-through of your home within 24 hours before the closing to check that the property is in good condition. If the buyer finds something that needs to be fixed, we’ll work together to decide how to handle it.
 
Whether or not you attend the closing, you’ll need to provide house keys to your buyer, along with all alarm codes, remote controls for the garage, and mailbox or gate keys.
 

What’s next?

After the closing, you’ll:
 
  • Receive the proceeds from the sale, usually by wire transfer
  • Cancel your homeowners insurance “post-close” – to make sure you’re covered on that day
  • Save your closing documents and home improvement records for taxes.
Congratulations! You’ve successfully sold your home. After close, make sure to keep in touch with us for all of your future real estate or home ownership needs. Further down the road, should you ever want to buy or sell, we’ll be here. You’ll always have our number, and we’ll always be ready to spring into action.

Congratulations!

Once you have sold your home, you’re free to take the next step on your journey. Whether this is relocating to a new city, moving into a larger home, or downsizing and enjoying your life as empty-nesters, knowing all your selling responsibilities have been taken care of will help you achieve peace of mind for your new path.

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Contact Details

The Katz Group

Phone

(323) 599-7753

Email

[email protected]

Address

5016 Parkway Calabasas Calabasas CA 91302

Michael Katz | CA DRE# 02062556

Kara Katz | CA DRE# 02062597

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