Michelle Ritson Real Estate
Signature Concierge Services
My critical role as a REALTOR ® in a residential real estate transaction is
communication, communication, communication
Whether representing Sellers or Buyers, the goal is to understand and to be understood. The responsibilities of this occupation are vast, and the following underscores the importance of having the help and guidance of a professional who understands the real estate sales process. Being able to defer any derailments and Close on schedule…what could go wrong? Success
requires attention to the ever-changing details.
01.
Assess the property’s curb appeal to improve sale-ability.
02.
Prepare a Comparative Market Analysis to assess home’s sale price.
03.
Research the property’s public record information for ownership and Deed type.
Should a Trust, POA or Life Estate be established, a copy will be requested by the
Closing Title Company.
04.
Validate that all permits pertaining to the Property are closed.
05.
Review the tax roll information confirming the taxes are not in arrears.
06.
Verify the legal description, land use code, current zoning, HOA, deed restrictions &
Flood Zone Certificate if applicable.
07.
Obtain open mortgage contacts and account numbers.
08.
Is a Tenant Agreement in place? Is the home vacant?
09.
Will the Seller(s) require assistance with finding a moving company?
10.
Prepare Estimated Seller Net Sheets.
11.
Offer a Pre-Home Inspection to maximize the Seller(s) asking price.
12.
Choosing a reputable title company is imperative. Here communication will be
established to include information specific to the Seller(s) &; Buyer(s), Seller(s) &
Buyer(s) Agents, Contractual Documents, Deed and Property specifics.
13.
Discuss ‘Staging’ the home & minimizing contents prior to taking photos/videos.
14
Prepare Listing Documents: Listing Agreement, Seller(s) Property Disclosure,
HOA/Condo Rider, Older Persons Addendum (55+ communities), Flood Disclosure,
MLS Data Entry information, Brokerage Relationship, Compensation Disclosure,
Compensation Disclosure for Listing Agent and Buyer(s) Broker, MLS’ Public
Remarks, Realtor Only Information, etc.
15.
Access of Property type: Electronic or Numeric Lockbox.
16.
Verify Seller(s) Preference regarding Showing Instructions (block out times, days).
17.
Schedule a professional photographer. Will a video or drone be requested?
18.
Install FOR SALE Signage.
19.
Change the Status to Active on the MLS.
20.
Activate ListTrack for automatic weekly statistical and activity updates. Market the
Property.
21.
Notify Seller(s) of each Showing Request appointment.
22.
Request Feedback from Buyer(s) Showing Appointments
23.
Discuss Price Reductions. If warranted, prepare a Modification to Listing Agreement.
01.
Verify proper licensure of the *Buyer(s) Agent and Lender.
02.
Seek out the strength of the Buyer. Has the Buyer begun the loan process yet? Is
the Buyer Pre-Qualified or Pre-Approved by a Lender? Ideally, working with Florida
lenders is preferable, versus those in another state or time zone.
03.
Is an Offer Contingent upon the sale of Buyer(s) property and under Contract? Are
their accepted Contingency Offers behind the Buyer(s) Offer?
04.
Upon Acceptance of Buyer(s) Offer: Confirm deposit of the Earnest Money; Confirm
with Lender the type of Buyer(s) Loan; Confirm Buyer(s) Home Inspection Date;
Confirm in writing Buyer(s) willingness to proceed with Contract; Confirm Lender
status of Buyer(s) Mortgage Approval Process.
05.
Communicate with the Closing Title Agent who’ll require information specific to the
Sellers, Buyers & their Agents; Property specifics; ALL Contractual Documents; All
Addendums; Directives relating to a Seller(s) Life Estate, Trust & POA Documents;
Buyer(s) Home Inspection Period ending; Closing location; Distribution of Seller(s)
Net Profit.
06.
Keeping track of Contractual Dates is imperative: Buyer(s) Earnest Money
Deposit, Buyer(s) Home Inspection Period, Lender’s Appraisal Date, Lender’s Loan
Approval Date.
07.
Confirm with the Title Agent: Ordering of the Appraisal, Survey, HOA Estoppel,
Municipal Lien Search, Seller’s Title Insurance, and an Estimated Closing Statement
for review.
08.
Confirm that the Seller(s) will vacate the home, leaving it ‘swept clean.’
09.
At Closing, confirm that a hard copy and email copy of the Closing Documents be
made available to the Seller(s).
10.
Change the Status on MLS to Closed.
01.
Understand the Buyer(s) goals, ‘must haves,’ budget, time frame, number of
bedrooms & bathrooms, is a pool a necessity, accessibility issues, single or two-story
home, garage size, age of the home, age of the roof/HVAC/water heater, proximity
to work and health care, single family or condo, waterfront, etc.
02.
Discuss and execute a Buyer Broker Showing Agreement for Compensation due the
Buyer(s) Agent.
03.
Request a Pre-Approval and/or Pre-Qualification Letter from Buyer(s) Lender.
04.
Prior to previewing a home, call the Listing Agent to understand the Seller(s)
Compensation Agreement for Buyer(s) Agent/Broker.
05.
Arrange to preview homes with the Buyer(s).
06.
Submit Feedback to Seller(s) Agents.
07.
Prior to submitting an Offer, phone the Listing Agent and establish a dialogue. Are
there other Offers being considered? What’s the Seller(s) move-out time frame?
08.
Prepare Residential Contract for Sale and Purchase. Negotiate Terms, if necessary.
09.
Observe the Contractual Time for Acceptance Date.
10.
Upon Acceptance of a Fully Executed Contract, (Effective Date), inform Buyer(s) to
deliver the Earnest Money Deposit to the Seller’s Closing Title Company (or a
Buyer(s) preferred title company, notifying Listing Agent.
11.
Schedule Buyer(s) Home Inspection. Suggest 3 Home Inspectors if needed. Confirm
accessibility to the home with the Listing Agent.
12.
Within the Home Inspection Period, a Buyer may withdraw from the Contract, for
any or no reason, and have the Earnest Money Deposit returned in full. In writing,
Notification to Release the Deposit must be given to the Title holding the Deposit.
13.
Notify Listing Agent of Buyer(s) request to remedy any Home Inspection issues.
14
Negotiate Buyer compensation in lieu of repairs.
15.
Inform Buyer(s) Lender of Home Inspection Deadline.
16.
Notify Lender to order the Appraisal and Survey.
17.
Request Lender update of Mortgage Loan status.
18.
Share with Buyers a list of vendors, utility & electric companies, lawn or pool service,
pest control services. Is there a transferrable Termite Bond?
19.
Confirm that Buyer(s) established services for electric & water the day of Closing.
20.
Communicate with Closing Agent. Will the Buyer(s) be present or need a Mobile
Notary.
21.
Review Preliminary Closing Statement with Buyers.
22.
Await Buyer’s Lender’s ‘Clear to Close’ update.
23.
Have Buyer(s) communicate directly with the Closing Agent to receive Wire
Instructions needed for Funds to Close.
24.
Arrange for Buyer(s) Final Walkthrough prior to Closing.
25.
Should items contractually conveyed not be in the home, Buyer(s) Agent will
communicate with the Listing Agent to remediate a solution.
26.
Upon Funding, Buyer(s) has legal ownership and may access the Property.