Sell My House on the MLS: What’s the Process?

Sell My House on the MLS: What’s the Process?

If you decided to list your house on the Multiple Listing Service with an agent and wanted to do a “full service listing” This is likely the types of services you can expect.

Yes, I would like to sell my home on the MLS with an agent.
The full listing service which will include the following:
-Agent puts listing on Realtor® MLS
-Agent gives ideas on home staging
-Agent gives tips on how to get in show condition
-Agent will discuss today’s market value (CMA)
-Agent will help with the purchase agreement
-Agent will help with the negotiations
-Agent will help with ?’s from buyer’s agents
-Agent will help to get a sign in the front yard
-Agent will help to post street signs
-Agent will help to put out ads for marketing
-Agent will help with in-house marketing and flyers
-Agent will help with seller disclosures and paperwork
-Agent will help with understanding buyer’s inspections
-Agent will help with understanding buyer’s appraisals
-Agent will help with updates from the loan officer
-Agent will help with the closing process
-Agent will help on the closing day, reviewing closing paperwork
-Agent will help get photos taken and on the MLS
-Agent will help with measurements, data, add to MLS
-Agent will help get a lockbox on my door
-Agent will help with communication by email and phone

If you decide to sell on a contract for deed, here is how it will differ some.

If you decide to sell on a contract for deed, we would have an agent work with you under contract exclusively. Some advantages of selling on a Contract for Deed, you have are that you have a much more open market of available buyers, not every buyer can get financing in today’s market. You will want to give them 12-36 months time typically to let them increase their credit score so they can get financing. It’s up to you on the down payment amount, but 5-10% down is standard. In cases where they quit making payments, It would take a minimum of 60 days to get the buyer out of the property after the notice of default, so it’s a little longer than a renter eviction situation. Also the contract for deed buyer would be considered the new equitable owner, and would be paying the taxes and insurance and would be receiving all of the tax breaks and depreciation on the property. You will also most likely find a buyer for a contract for deed much faster than if you are looking to sell to a buyer who is getting financing. If you sell on a contract for deed, you hold the deed to the property, and the loan will still remain in your name. When you get your loan on your next property, you will need to notify your loan officer that your home has a contract on it, and the payment is covered. This will be important to help your debt to income ratio when qualifying for your next home. I would still recommend that your house be listed on the MLS and work with an agent full service, if you are going to sell on a contract for deed.

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loan » Blog Archive » List Your House Says:
May 25th, 2008 at 6:10 am

[…] JJ wrote an interesting post today onHere’s a quick excerptIf you sell on a contract for deed, you hold the deed to the property, and the loan will still remain in your name. When you get your loan on your next property, you will need to notify your loan officer that your home has a contract on … […]

Sell My House on the MLS: What’s the Process?

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