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PRINT - LISTING PROCESS - Ready to List - COVID 19

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Published by BHHS Chicago | Lake Forest, 2020-12-02 11:54:45

PRINT - LISTING PROCESS - Ready to List - COVID 19

PRINT - LISTING PROCESS - Ready to List - COVID 19

List our Home!WE’RE READY TO

HEATHER FOWLER

224.804.7774
[email protected]

224.804.7774 MOBILE
847.615.5548 EFAX

[email protected]
778 N Western Avenue, Lake Forest

Heather Fowler

A bit about me...
I LOVE houses!!! I love everything about home buying and selling. There are so
many incredible opportunities out there, you just have to know where to look
and how to look at them (that's why I'm here ). It’s amazing how properties
can be completely transformed into your dream home—and that doesn’t have
to cost a lot. I work with fantastic folks that provide every possible service you
can think of—from color palettes to window treatments, handyman to
complete renovation, gutter cleaning to swimming pool maintenance, you
name it—I’m loaded with resources!

Don’t let the housing market intimidate you. It takes nothing for me to
provide a free home market analysis of your home so you have an idea if
selling is a reality for you now or on the horizon. Our local market is not at all
like what you read about in housing magazines or online national articles. And
it’s completely different from close by areas like Winnetka, the western
suburbs, and Chicago. It’s important you have a solid understanding of what’s
happening in your neighborhood and at your price point. Give me a call—I’d
love to help!

When I’m not house hunting with clients, marketing listings or networking
with other brokers, I’m happily driving our 2 children to school, golf, yoga, to
whatever happens to be going on in that season. I’m also sewing, decorating,
painting, and I’m ALWAYS cooking. But I'm never too busy to take your call.

Hope to hear from you soon!

Your Agent

Your agent has a fiduciary responsibility to you at all times and will service your specific real estate needs. You can expect expertise when
selling your home, guidance when buying your home, responsiveness, loyalty, disclosure and accounting.

ADVISES Pricing Seller Updates Presenting the Offer

Agency Alternatives

Market Analysis Listing Showing Feedback

NEGOTIATES Expediting the Negotiating the Terms Purchase Agreement Post-Contract
Buyer’s Offer Negotiations
Answering Objections

FACILITATES

Promotion to Advertising Open Houses Local and Review Contract Closing

BHHS Out-of-Town Closing Costs Contingencies

KoenigRubloff Buyer Contacts

and Local Real

Estate

Community

Multiple Internet Direct Personal Showing Your Inspections
Listing Service Marketing Marketing Referrals Home

The Selling Process

Whether you are buying a home, townhome or condominium, your agent has the expertise to provide the right insight and information to help
you with your search. A buyer’s agent has a fiduciary responsibility to represent only the home buyer’s best interest in all aspects of home
buying transaction. The buyer’s agent differs from the seller’s agent that represents the seller and a dual agent that represents both the buyer
and seller.

Initial Meeting Agree on Selling Stage Home Listing
Plan Paperwork

Price Adjustments Showings Market Exposure Photos Taken
(if any)

Offer Presented Negotiations Counter Offer Accept Offer

Closing Buyer Closing Repair Requests Inspections
Process

Congratulations!

We’re ready to list our home!

HOW TO PREPARE YOUR PROPERTY BEFORE LISTING ON THE MLS Place a nice flower/planter by your front door or perhaps
place a wreath on front door
How exciting! You’re ready to begin the home selling process.
Below is an overview of what to expect and a general timeline Organize garage
of events that take place in the list process. Clean up the yard. Curb appeal is very important!

First, we’ll need to complete your listing paperwork. Now lets take some pictures!
The paperwork can be completed electronically or printed with Pictures are the first impression of your home for most
wet signatures. The documents include:
buyers. We'll want to do our best portraying your home and
The Listing Agreement be prepared. It usually takes just a few days in advance for
Property Disclosures an appointment.
Residential Real Property Disclosure The photographer will make suggestions while he/she is at
Lead Based Paint Disclosure the property and may shift some items around to create the
Radon Disclosure best possible picture/ambiance.
Additional Disclosures The photographer likes to have all blinds/shades completely
COVID-19 Disclosure raised and curtains open, so you’ll want to have your
Anti-Fraud Disclosure windows fairly clean.
Dual Agency Disclosure Safety precautions will be taken to prevent the spread of
BHHS Affiliated Business Disclosure virus or illness by wearing masks, gloves, and booties.
Exempt Listing Authorization
Preparing Brochures and Marketing Materials
• This allows us to privately market your listing to brokers Once the photographs are in, brochures are automatically

before the general public can view the home online. generated and ready within a few days. Due to the COVID-19
pandemic, electronic brochures and virtual tours will be
• With your permission, we’ll begin sharing the news with created.
Online marketing pieces will be prepared and will begin just
brokers that the listing will be “coming soon”. before and once the home is listed.
Mailers will also be sent to the immediate area of the
Next, you’ll want to prep your property. Some general ideas: upcoming/new listing.
Freshen paint. Neutral colors such as grey, whites, or beige
Let’s bring in other brokers for pricing opinions
are recommended This may not be applicable but can be helpful when a
Fix some caulking
Clean vents, wipe away cobwebs from high areas property has challenging comps. We can schedule an hour
Replace blown or broken light bulbs during the day or evening to bring invited brokers through.
Clean windows Due to COVID-19 we may not physically bring in other
Remove clutter both inside and out brokers but instead have virtual showings so they can
preview and share feedback in advance.

NOW THAT THE HOME IS PREPPED, PHOTOGRAPHED, AND WE’VE RECEIVED AN OFFER!
PRICED, WE’RE READY TO LIST!
Wonderful news! A buyer has fallen in love with your property
Let’s see what comes next… and would like to call it home. How do we negotiate? Let’s take
WE’RE READY TO LIST OUR HOME ON THE MLS! a look at the negotiation process.

Now is the time when things start to get exciting. Here’s a look Negotiating
at what to expect once your home is publicly listed on the Once you receive an offer, we’ll review and dissect the terms of
Multiple Listing Service. the offer. Please do not be alarmed if the original offer is not
what you had hoped to see in price. Think of it as a starting
Online Marketing point to negotiate.
All area brokers will receive an electronic postcard of your If you decide to counter the offer, it simply means you do

new listing. not accept the original terms and you propose a new offer.
Social media and online search engine advertisements There is no need to complete new paperwork. A simple, one
line, email with the new terms is all that is needed.
promoting your new listing begin. The buyer may accept your new offer or they may decide to
Virtual brochures and tours will be accessible online through counter again.
This process can go back and forth, sometimes over a few days,
the listing. but negotiating is encouraged to be timely and in good faith.
It’s very important not to take offers or comments
Open Houses personally. I encourage you to keep this in mind throughout
Due to COVID-19, all Open Houses are prohibited until the entire process.
Also, agents can sometimes become emotional during
further notice. negotiations. Please know I am committed to communicate in a
We will stay up to date with the latest restrictions in place professional and polite manner and to keep emotions aside.

and adjust accordingly. Hooray! We’re under contract! Now what?
Until further notice, we will schedule and conduct virtual WHAT TO EXPECT UNTIL CLOSING

Open Houses When the contract is signed and accepted:

Showing Requests FIRST 5 BUSINESS DAYS
Precautions will be taken to screen showing requests for
(First half of Attorney/Inspection Review Period)
serious buyers during the COVID-19 pandemic. Attorney
Virtual showings will be available for those unwilling to
• I’ll immediately forward contract over to your attorney and
venture out.
When a buyer would like to see your home in person, the make sure his/her office has your contact info. Someone
from their office will reach out to you within a day or so.
showing request will come directly to your cell phone, and You can feel free to give them a call, too.
mine, with the date and time of the request. You can simply Earnest money is delivered to your brokerage (BHHS)
reply with a Y or N.
If the home is unoccupied, the request will come through to • Amount is according to the contract terms and
me and I will meet the party at the home to accompany them
through the home. instructions.
Safety precautions will be taken by having gloves, and
booties available. Buyers will also be asked to wear a mask • Buyer or buyer’s agent will deliver to my office.
and refrain from touching objects as much as possible.
Inspection takes place

• Inspection is at the buyer’s expense.

• If inspectors are available during the COVID-19 pandemic, • After the buyer’s mortgage is approved and all conditions

the buyer will arrange a time for inspection that is have been met, you will be officially “Pending” and simply
agreeable to you. waiting for your closing date!

• A radon inspection may be done at the same time. If so, Water/Sewer Inspection
Lake Forest requires all home sellers have a water and sewer
the radon inspector will call me to arrange a time to set up
the equipment. The test takes two days and is usually inspection conducted.
started 2 days prior to home inspection. The fee is $150 and payable to the City of Lake Forest.

• Because of COVID-19, I will be present during the home Transfer Tax Stamps
Lake Forest requires Transfer Tax Stamps on home
inspection.
purchases in Lake Forest. This is only for the buyer to pay in
• The inspection should take roughly 2-4 hours depending Lake Forest.
As a seller in Lake Forest, you only need to notify the buyers
on size of home. once you have paid your final water bill. At that time, the
buyers can then purchase their stamp.
• If for some reason the inspection can’t take place w/i the Highland Park requires a transfer tax on all properties being
sold. So if selling a home in Highland Park, you will need to
first 5 business days, the buyer’s attorney will send an pay a transfer tax.
extension letter. This sometimes happens and it’s ok but
you’ll want to try to stay on track if possible. One Week Prior to Closing
Walk-through
THE NEXT 5 BUSINESS DAYS
• Depending on how many inspection items were agreed
(Second half of A/I Period)
Determine what items you agree to repair/reimburse in upon, we may have more than one walk-through.

response to buyer’s requests. • If more than one walk through is requested, the first is

• I’m happy to talk them over with you and share typical usually about 1-2 weeks prior to closing. This way, if
anything was missed, we will have time to complete repairs
requests, however your attorney will be your best adviser. in time for closing.

• Nowadays, credits are more encouraged over repairs for • The final walk through will be either the day before or

ease of the seller and to allow the buyer to choose how morning of closing.
repairs are done.
Communicate to your attorney your response to requests. • Safety precautions will be taken during the COVID-19 crisis.

• Your attorney will then draft and send a letter to the Review costs and the final amount, if applicable, you’ll need
to bring to closing with your attorney
buyer’s attorney with your response.
• It sounds odd but you may not have the final amount until
• May go back and forth a bit until you reach an agreement.
• This is often an emotional time. Stay unattached. It’s best 1 or 2 days before closing.

to leave emotion out of this and remember to not take CLOSING
anything personal.
In most cases, you will not need to be present at closing.
• After inspection items/adjustments have been agreed Closing usually takes an hour at most.

upon, the A/I Period is complete.
Depending on terms of contract, the buyer will deliver the

2nd installment of Earnest Money due.

After A/I is complete
Buyer’s lender (if obtaining a mortgage) kicks into action.

• Lender orders the appraisal, which are mostly now being

done as a drive-by due to COVID-19.

• I will provide a Comparative Market Analysis for the

appraiser to show the area comps for his/her review.

• Lately, it’s been 5 -10 business days for the report to come in.
• If the home does not appraise for the sale price, discuss

options with your attorney.

• This is generally a quiet time. Everything that is now

happening is on the lenders end with the buyer.

• Take this time to interview several movers and get that

scheduled. You don’t want to be looking for a mover in the
last week or two.

Congratulations!Your home is now sold!

© 2020 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices
and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway
affiliate. Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not
intended as a solicitation


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