So – you have decided to sell your home, cabin, hunting land or farmland in beautiful Otter Tail County, Minnesota! You couldn’t have picked a better time to do so, as we are now in the midst of an unprecedented seller’s market.
But auspicious timing is not the only key to selling your property. You also want to partner with a full-service real estate broker that has perfectly streamlined the entire selling process. With nearly half a century of experience serving sellers (and buyers) throughout our wide area of operation, our team has refined the 16 steps to selling any property. Read on to learn what’s in store when you work with Boll Realty!
Meet With Boll Realty
We hope you’ll find meeting us the most pleasant step of all! Whether you meet with Bill, Dave, Gloria, Laurie, Phyllis, Randy, Shawn or Tom in person or over a phone or Zoom call, we’re eager to learn about your goals and how we can create exceptional value all around during the selling process.
Determine Selling Price
We don’t want to list your home for too high a price, or else we will scare away potential buyers. But we don’t want to sell too low, either! That’s why our team will study comparable listings in your area, scrutinize the details which make your property unique, and assess current market trends in order to determine a selling price that will make you and your buyer both happy.
Is preparing listing agreements, mandatory disclosures and seller’s net sheets the most exciting part of our job? Not remotely! But we take care to ensure all the paperwork is triple checked and rock solid before we proceed to list your property for sale. Your peace of mind deserves no less.
Stage & Take Photos
Photography’s importance to selling a property cannot be overstated – especially during the Digital Age, when so many people are accustomed to making purchases based solely on photos. Staging your property so it looks good on camera is essential, and once the real estate photographer has done their best work that property is ready to market!
The big moment! In addition to NorthstarMLS, we promote our clients’ listings on several websites to ensure they reach the widest available audience. We also have a long list of interested buyers in the greater Ottertail, MN area, many of whom are sure to take immediate interest in your listing.
Once you have temporarily relocated excess furniture to make your property feel more spacious and removed any features which would not be included in the sale, it is time to welcome potential buyers. Your Boll Realty representative will make sure that showings are scheduled in an orderly fashion, as well as “gently dissuade” those who aren’t qualified to purchase your property from touring it.
Review the Offers
The best offer isn’t necessarily the highest. Once we have received a stack of offers on your property, we’ll assist you as you determine the best one based on the terms and timing of the sale, as well as any other unique factors which may be of especial importance to you.
Should We Negotiate?
You have a great deal invested in your property, but a business transaction is no time for rash or emotional decisions. We’ll help keep you grounded as you negotiate for a higher price or different terms of the sale, and advise the best course of action based on how quickly you wish to move and how tight the market might be at any given time.
Approval & Inspections
Once you have approved their offer and received their earnest money, your buyer receives a predetermined amount of time to have your property professionally inspected. Your Boll Realty agent will partner with the buyer’s agent to grant the inspector access to your home. In the event that the inspector reveals something which could impact the conditions of the sale, we’ll spearhead that negotiation to make certain it is fair and concludes on favorable terms to both parties.
At this point your buyer’s lender will order a professional appraisal. Once the appraiser has examined your property in person (and reviewed recent comparable sales and market trends), they will produce an unbiased opinion of its actual value to the lender. The buyer typically pays the appraisal fee.
Submit Paperwork for Clear to Close (CTC)
Next the buyer supplies any remaining documents required by their lender before closing. Once the lender has determined that their borrower has satisfied all conditions for the mortgage, everything is ready to proceed according to plan.
Pre-closing is a quick step that includes the buyer purchasing homeowners insurance which will go into effect on the day of closing, requesting their bank to cut a check to cover the down payment, and paying any other obligatory closing costs.
This formality gives the buyer and their agent one final opportunity to inspect the property before closing. The final walk-through assures to the buyer that the property is in the same (or better) condition as when they agreed to purchase it, and that the seller hasn’t removed any property that was agreed to be part of the sale. The buyer may also ensure that any repairs the seller promised to make are complete and satisfactory.
This is the sit-down where you sign all the documents necessary to finally seal the deal. Closing day typically includes transferring funds from escrow, updating the deed of the property to the buyer’s name, and paying mortgage and title fees to the appropriate parties.
With all documents signed and the closing protocol complete, the buyer’s lender will now wire the remaining funds directly to the seller’s bank account. This is unarguably the most satisfying step of the property selling process.
Congratulations on Your Sale!
Moët & Chandon. Canard-Duchêne. Nicolas Feuillatte. It doesn’t matter which brand of Champagne you pop open – they are all perfect accompaniments to celebrate the successful sale of a property!
Are you ready to begin? Taking care of the first step is easy – just contact Boll Realty today!