SELLERS AGENT
Let's walk through the GENERAL Selling Process. 
If you've found yourself in a position where you're ready to sell a home or property, we hope you'll call us! 
 
1. Our first step is to talk about the desired price you're seeking. We can obtain this Listing Price by utilizing a Comparable Market Analysis (CMA). 
  • Utah is one of 11 "non-disclosure" states. This means that you do not have to tell the Kane County Tax Assessor the price you paid for your home. As licensed Utah Real Estate Agents, we have unique access to sales prices of homes and properties. With this access, we are able to look at comparable homes to yours, and what they've sold for in the last several months. We look at neighborhood, age of home, size of home, size of property (acreage), etc. In the Kanab area, sometimes this can be a bit difficult. As we don't have many cookie-cutter neighborhoods, sometimes we have to utilize comparables from nearby towns within Kane County, Utah. 
  • Once we find comparables, we will generate a CMA Report for you. In this report, you will see an average price as well as low end and high end price. This is helpful in your decision making as this CMA helps you see what other people are actively paying for homes in the Kanab, Utah area. (Please Note: While a CMA is a fantastic tool, it's not as comprehensive as an appraisal). 
  • We are also happy to provide you with a "seller's projected net sheet" from the title company so you can see what you will expect to net at the end of the process. This can be a useful tool when deciding list price. 
2. Now that we've set a price, we will write up the listing details and review it with you. You can be as active or passive in this part as you'd like. 
  • Once we have professional photos, we can go live with the listing! Once the home is actively listed for sale, it is on the Multiple Listing Service (MLS), which syndicates to other websites such as realtor.com, zillow, etc. This allows people without real estate licenses to find your listing. Your agent's cell phone number is everywhere your home is advertised, so people will contact your agent directly for showings and additional information. 
  • Our team members are all part of two MLS providers: the local Kane MLS as well as UtahRealEstate.com. This means we can get more eyes on your listing! 
  • Ask us about our comprehensive marketing plan, as well! 
3. Showing Time! 
  • Either prospective buyers will call your agent directly for a showing, or their real estate agent will connect with us. 
  • Once a buyer decides your home/property is the right fit for them, we will receive a copy of their Utah Real Estate Purchase Contract (REPC) where they have offered a price, a closing date, and possibly other addenda. (Addenda become part of the contract, and can adjust the terms of the contract. 
  • You, as the seller, have the option to either: 1) Accept, 2) Counter, or 3) Decline their offer. Generally, if there are terms that are not favorable to you as the seller, we would write up a "counteroffer" in an addendum asking for changes to the terms of the sale. 
  • Once we have agreed to terms, we are officially under contract and can open escrow! The Buyer's Earnest Money is held in a secure Trust Account, specifically used for holding earnest money deposits. 
3. Your "homework" when listing is to fill out as honestly as possible a "Seller Property Condition Disclosures" (SPCD's). 
  • In the Seller's Property Condition Disclosures (SPCD's), you will report any known defects, alterations/additions, remodel work, and/or repairs, recent property line surveys, etc. If you have any schematics, invoices for work, etc, it's best to attach them to this Disclosure. If the home/property is governed by an HOA, their contact information and most recent meeting minutes will also need to be included. It is important to be as honest as possible. 
4. It's important that we allow the buyer access to the house when requested (within reason!) 
  • Buyers often pay for an inspector to come do an extensive report on the home, and if they're getting a loan, an appraiser will also need access to the home. 
  • After the results of the inspection, they may ask for you to either fix items of concern or take the cost of those repairs off of the purchase price. 
  • Similarly, the appraisal is the maximum amount that a Mortgage Company will loan on, so it's important not to overprice your home in the beginning to avoid negotiations following an appraisal. 
  • The buyer may also request access to check measurements or other specifics for their due diligence. The buyer will ALWAYS be accompanied by their agent, so you can feel comfortable giving them access when you're not home. 
  • As stated in the Real Estate Purchase Contract, the buyer also has the right to a "final walkthrough" seven days prior to closing. 
5. Finally, once the loan has been approved and funds are released to the Title Company, you will sign the closing documents. 
  • The title company deducts from your sale's proceeds: an American Land Title Association (ALTA) Homeowners Insurance Policy, Commissions as negotiated, and Document Prep Fees. These fees vary based on the sales price of your home, but we understand no one likes surprises when it comes to money! Prior to closing, we will receive a preliminary settlement statement that parses out these charges. (The seller's projected net sheet we can provide at the beginning of this process also demonstrates these breakdowns.)
    • The buyer is responsible for their lender's policy if applicable. 
  • Oftentimes there could be a delay between settlement and recording. This hinges on the funds being received by title before a cutoff time for recording at the recorder's office. 
 
As your listing agent, we are always here to help find the answers to your unique questions! 
Each sale is truly unique, so while this outlines the general process, there WILL be more questions along the way!