1830 Washington St Chattanooga
Seller Guide
- Prepare to Sell
Once The Battles Group agent presents you with comparative sales for your home valuation, you’ve prepped your house for sale and set a price, then you’re ready to prepare for showings.
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 you or your listing agent.
How do I prepare my house for a showing?
Before photos are taken and before the first showing, you should:
- Clean thoroughly.
- Do minor repairs such as caulking tubs and windows.
- Stage your furniture to showcase your home’s best features.
- Remove personal items such as family photos.
- Declutter every surface and storage space - neat & orderly is more visually appealing.
- Reorganize your closets and pack excess items.
- Eliminate odors.
- Create curb appeal with fresh mulch and a bright welcome mat.
- Upgrade your lighting or lightbulbs to make your rooms brighter.
- Power-wash your decks and sidewalks if needed.
Immediately prior to any showing:
- 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.
What can I expect when showing my house?
Three important things you can do to help get your house sold are:
- 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.
- Make your house as available as possible. While it may be inconvenient to show your home at dinnertime or on weekends, buyers who can’t see a property when they’re eager may cross it off their list.
- Listen to any feedback from buyers or agents about ways you can make your home more appealing.
- Review Offers
Congratulations! Now you need to evaluate that offer and decide how to respond.
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?
Whether you have one offer or several, you and your agent will 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
You and the buyer can negotiate until you both agree on the final contract.
- Inspection Phase (Due Diligence)
Most buyers request a home inspection as a condition of their offer. While a home inspector will dig more deeply into your home than a buyer, the preparation you made before your first showing should help you get ready for the inspection.
What is a home inspection?
A home inspection is a thorough review of your home’s structure and systems by a professional inspector. A buyer can use the inspection report to decide to rescind their offer if a major issue is uncovered or to request repairs if the contract is contingent on a satisfactory report. In some cases, a home inspection is solely for the buyer’s information and won't be used to negotiate.
- Appraisal
As you near the end of your home sale journey, one of the last remaining steps is getting your home appraised if the buyer has obtaining a loan.
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.
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 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.
- Close the deal!
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.
- Clean the house.
- Prepare for the buyers’ final walk-through.
What can I expect when 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
- Closing costs agreed upon
- Any special stipulation items requested such as a home warranty
The buyer will do a walk-through of your home before the closing to check that the property is in good condition. 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 have successfully sold your home.