Levi’s Role In Your Real Estate Transaction

Your decision to sell your property is one that Levi takes seriously. He is committed to ensuring that a seller and buyer are brought together. Arriving at a successful closing requires many steps.

Listed below are typical actions, research steps, procedures, processes and review stages in a successful real estate transaction. Levi uses this form as a checklist on every listing.

Pre-Listing Activities
Listing Appointment Presentation
Once Your Property is Listed
Entering Property in Multiple Listing Service database
Marketing Your Home
The Offer and Contract
Tracking the Loan Process
Inspections
Appraisal
Closing Preparations and Duties
After Closing Follow-Up

Pre-Listing Activities

Research all comparable listed properties
Research recent sales activities from MLS and public record databases
Research “Average Days on Market” for comparable properties
Research “Absorption Rate”
Research property’s ownership and deed type
Research property’s public record for lot size and dimensions
Research property’s current zoning, and land use
Confirm current public schools and determine impact on market value
Prepare “Comparable Market Analysis” CMA to establish Fair Market Value

Listing Appointment Presentation

Discuss your goals, needs and wants
Provide seller with overview of current market conditions, trends and projections
Review Levi’s and Re/max’s credentials and accomplishments in the market
Present Levi’s niche in the market
Present and discuss Marketing Plan
Present CMA results to Seller, including comparable solds, pending sales and current listings and homes that failed to sell
Present pricing strategy based on professional expertise and current market conditions
Review and explain all clauses in Listing Contract
Explain different agency relationships and determines Seller’s preference

Once Your Property is Listed

Review current title information
Measure interior room sizes
Confirm lot size via owner’s copy of certified survey, if available
Note and all unrecorded property lines, agreements and easements
Obtain house plans if available
Order plat map for listing file
Prepare showing instructions
Obtain current mortgage loan information
Check assumability of loan(s) and any special requirements
Discuss possible buyer financing alternatives and options with seller
Review current appraisal if available
Obtain Home Owners Association contact information, if applicable
Verify Home Owners Association fees, if applicable
Obtain a copy of Home Owners bylaws, if applicable
Obtain copies of utility bills
Calculate average utility usage
Research sewer/septic system, obtain records for septic cleanings
Calculate average water fees
Well Water: confirm depth, status and obtain copies of any Well Reports
Verify if Seller has transferable Termite Bond
Ascertain need for lead-based paint disclosures
Prepare detailed list of property amenities
Prepare detailed list of property’s Inclusions & Conveyances with sale
Compile list of completed repairs and maintenance, copies of invoice if applicable
Explain benefits of Home Warranty
Install Electronic Lockbox
If rental property - copies of lease(s), verify rental amounts, deposit amounts, inform tenants of listing, obtain tenants written consent for showings
Order sign installation
Assist seller with completion of Seller’s Disclosure form
Update “Listing Check List”
Review results of curbside assessment and provide suggestions
Review results of interior décor assessment and suggest changes
Load information into Top Producer software

Entering Property in Multiple Listing Service database

Prepare MLS Profile Sheet
Enter property data
Attach disclosures, floor plans, surveys and additional information to MLS
Load showing instructions into system
Schedule photographer
Upgrade listing as Featured Property into Realtor.com
Verify pictures have been loaded into MLS, Realtor.com and Remax.com
Provide Seller with signed copies of Listing Agreement and MLS printout
Take additional photos if needed

Marketing Your Home

Create internet ads
Install electronic lockbox – program with agreed upon showing times
Coordinate showings with owners, tenants, and other Realtors.
Prepare mailing, email and contact list
Generate mail-merge letters
Send emails
Prepare information tube flyers, in-home brochure
Review comparable MLS listing regularly to ensure property remains competitive in price, terms, conditions and availability
Upload listing to company and agent sites
Advise Network Referral Program
Provide data to international relocation networks
Price changes conveyed promptly to all internet sites
Reprint/supply brochures promptly as needed
Feedback, emails and faxes sent to buyers after showings
Review bi-weekly marketing
Discuss feedback, determine changes that are needed

The Offer and Contract

Receive and review all offers to purchase
Counsel seller on offers, explaining merits and weakness of each component
Contact buyer’s agent to review buyer’s qualifications and discuss offer
Confirm buyer is pre-qualified by calling loan officer
Obtain pre-qualification letter from lender
Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing dates
Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent
Fax copies of contract and all addendums to Title Company and lending institutions
Record and promptly deposit earnest money into escrow account
Deliver fully executed copies of contract to all parties
Change status in MLS to “sale pending”
Update transaction management program to show pending
Assist buyer with obtaining financing and follow-up as necessary
Coordinate with lender on Discount Points and Lock Dates
Deliver unrecorded property information to buyer
Order septic system inspection if applicable
Order home inspection
Order termite inspection
Order well test if applicable
Order mold inspection if applicable

Tracking the Loan Process

Confirm verifications of Deposit and Buyer’s Employment have been submitted to lender
Follow loan process through to the underwriter
Add lender and other vendors to transaction management program
Weekly follow with lender to track process
Relay final approval of buyer’s loan approval

Inspections

Coordinate home and termite inspection with seller
Review home inspection report
Review termite inspection report
Review septic inspection report and assess any possible impact on sale
Explain seller’s responsibilities with respect to loan limits and interpret clauses in the contract
Ensure seller’s compliance with Home Inspection Clauses
Recommend or assist seller with identifying and negotiating with contractors to perform repairs
Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed

Appraisal

Schedule appraisal
Provide comparable sales
Follow-up on appraisal
Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties

Confirm title insurance commitment
Coordinate mail away information with all applicable parties
Coordinate closing process with all parties
Update closing forms and files
Ensure all parties have all forms and information needed to close the sale
Select location and time of closing
Assist in solving any title problems
Schedule final walk thru prior to closing
Request and review final closing figures from closing agent
Verify all tax, HOA, utility and other applicable proration’s
Forward verified closing figures to all parties
Provide “Home Owners Warranty” if applicable
Review closing documents for any errors
Provide earnest money deposit check from escrow account to closing agent
Verify seller’s net proceeds check is the correct amount
Enter sold date into MLS

After Closing Follow-Up

Answer questions about filing warranty claims
Respond to any follow-up call and provide any additional information required
Verify that buyer has filed for homestead exemption.