Become a buyer

Before deciding to sell your house, make sure you know where you will be living. Some sellers have even signed a contract before they knew they were qualified to buy another. Refer to our Buyers Transaction steps. Become a buyer first and understand your current financial outlook, your mortgage options, your new monthly payments and your timing. Get pre-approved for a new mortgage.

How much do you still owe on your home?

Check with your lender/s to see what are your current mortgage payoffs. Be sure to ask for any early pre-payment penalties, which add up to as much as 6 months of mortgage interest.

What is your house worth?

Real estate agents with local knowledge and experience can help you determine your home's fair market value. Other websites also offer quick, online value estimates such as www.zillow.com and www.realestateabc.com.

Obtain a real estate agent.

Real estate agents can help guide you through the complex transaction process and avoid costly mistakes. Agents will be able to advice on all steps to sell your house from pricing to service provider selection, which repairs/ upgrades to make and negotiations. Interview real estate agents and ask about their experience and neighborhood knowledge.

Real estate commissions

Real estate commissions are always negotiable and average between 4-6% of the sale price. Typically, your listing agent will split the commission with the buyer's real estate agent. Check to see if your real estate agent has additional fees besides the commission. A FeeDisclosure quote will help you with your fees.

Closing Fees. Get a detailed quote from FeeDisclosure.com

In addition to real estate commission, there will be closing fees to sell your home. An instant detailed quote will provide an estimated closing cost listing all the typical services with their individual service fees.

Repair and maintenance

Repairs do not need to be made but it is your responsibility to disclose all defects and issues to potential buyers. Not disclosing material fact can have significant consequences. Discuss all existing and future defects with your real estate agent and decide what repairs should be made.

Curb appeal and upgrades

Curb appeal is a critical aspect to a prospective buyer. There are three main components to consider: your front entrance, landscaping and anything in the front that someone will view from the street. Also, discuss other potential remodeling upgrades such as kitchen, bathrooms, fixture replacements, floors and walls. Prioritize any projects and be sure they are worth the money, effort and time. Understand how much repairs and upgrades will cost.

Estimate your seller's proceeds

To calculate how much cash you will receive, deduct your mortgage pay-offs, real estate commissions and closing fees. Your escrow/ closing agent will be able to provide an estimated HUD-1 Closing Statement that will break-down your fees. Use the Fee Analyzer at FeeDisclosure to analyze your line items charges.

Review and interview your service providers

After getting your free FeeDisclosure Detailed Quote, you can review each web profile and interview any of the service providers listed. With a purchase transaction, typically, the seller chooses escrow/ closing agent and title insurance companies. However, all aspects in a purchase offer are negotiable and you should also be aware of the differences in closing costs from the buyer's perspective.

Do some preliminary research

To help make the selling process smoother and quicker, obtain standard reports such as a preliminary title report and pest inspection before your house is shown.

Clean and reduce the clutter

Get your home ready to show to potential buyers. Most homes need a little sprucing up. Curb appeal, a clutter-free look, new paint, clean windows and appliances are important aspects to a buyer's appeal.

Get ready to let people in

Most real estate agents will ask sellers to leave when a house is shown. This will make potential buyers more comfortable as they tour your home. Make it easy for buyers and their agents by making your home accessible as possible. Be ready to have your home shown at all reasonable times.

Review purchase offers

Review each offer with your real estate agent to completely understand the offer price and other terms. There may be several counter offers, contingency terms and service provider negotiations before final acceptance. If using the buyer's service providers like escrow and title insurance, check their fees with a FeeDisclosure detailed quote.

Notify your vendors & open transaction with FeeDisclosure.com

After your offer is accepted, notify all your service providers. Have your real estate agent Open your Transaction through FeeDisclosure. As service providers complete their services, FeeDisclosure will communicate their progress to you.

Disclose and meet offer terms

Buyers will conduct their due diligence and will require you to provide all disclosure information. Typically, there are time limits for each contingency requirement. If issues arise during their due diligence, like a major repair that is required, buyers may re-negotiate the purchase offer terms.

Sign documents

A public notary or attorney will be required at the signing of your various documents. Documents may include HUD-1 Settlement Statement (closing statement), deeds, affidavits and other written instruments.

Record instruments

Typically, the title insurance company will record the required documents with the county clerk or courthouse. This will publicize that the proper documents have been filed to transfer ownership and mortgage notes. Once the recording is completed, all the funds will be released by the title insurance company and your transaction will be closed.

Rate service providers

After your transaction has closed, FeeDisclosure will ask you to rate your service providers. This will help reward companies for their good service and provide other consumers more information to make a smarter real estate decision.