Selling a home in Lake Tahoe is a detail oriented process; it can be overwhelming to a newcomer. Our goal is to make your transaction as seamless and easy as possible. While our team does a majority of the work for you, it is nice to have a break down of how the process goes.
Contact a Lake Tahoe Realtor
This first step to selling a home in Lake Tahoe is the most important. You want to make sure you choose wisely and with that, comes research. We put together qualities to look for in a Realtor® as well as interview questions that will help guide your decision. Once you have chosen your Realtor®, the agent will discuss sales in comparison to your property so you two can come up with a listing price that matches your timeline and financial goals.
List your Lake Tahoe Home
After agreeing on a listing price, your Lake Tahoe Realtor® will provide you with a listing agreement and then put your home in the local Multiple Listing Service. This service is the database in which a Realtor® inputs your listing which then feeds to all the local and national real estate search engines. The MLS is the number one source for up to date market activity and how other realtors do listing searches for their clients. There are numerous Multiple Listing Services throughout the state and country. While some Realtors® are members of more than one MLS, it is important to make sure that the Realtor® you choose is a member of a local MLS and posts your listing in that MLS. We have met folks over the years that were assured their listing was going to be posted in the South Lake Tahoe MLS but instead were placed in a Sacramento or San Francisco based MLS under categories indicating called Lake Tahoe. We have even found South Lake Tahoe listings posted in Southern California MLS’s. If your home is not represented in a local MLS, your odds of being shown to prospective buyers is greatly reduced.
Market your property
This part right here is one of the most important parts to selling a home in Lake Tahoe. It is necessary that this is done right away as a property is at its prime in the first two weeks. Once your home has been listed, the fun begins. Your Realtor® will place your home on the weekly broker tour so that other agents can preview your home and provide feedback that can be very helpful. Along with broker tours and open houses, your listing should be featured in other marketing resources such as print advertising in local, regional and national publications. Property profiles may be presented in a flyer box located on the sign outside of your house.
This part happens alongside the marketing. Other Realtors® will look up the showing instructions in the MLS and then follow the steps in order to show the property to their clients. They will schedule a time that works for both parties. Once the showing is over, the agents will communicate on the outcome of the showing. The results on this can vary. It can yield additional showings to the same client, an offer, or the potential buyer decides the home is not the right fit for them and they keep looking.
Offers start coming in
Once offers start coming in, your Realtor® will present them to you. If you should choose to do so, you could authorize in writing that your Realtor® does not have to present offers below a set price. Otherwise, by law, your agent is required to present all offers to you, even if they know that you may turn it down.
Accept an offer
Once you find an offer you like, you and your real estate agent will negotiate terms. Once everything has been signed and agreed upon, your home will enter escrow and the buyer will deposit an earnest money check (this shows good faith) into the escrow account. Once this step is completed, a preliminary report will be issued in response to the title insurance application.
Now that your home is in escrow, there are some incredibly important final steps to be done. An inspector will come out to the home to find out if there are issues with the property. Once that is finished, a report will be provided to both parties with the findings. They will then negotiate repairs based on disclosures and the inspection report. This can include the seller taking care of all, some or none of the repairs. Another option following negotiations of requested repairs is to provide a buyers allowance, or reducing the sales price. An appraiser might also be sent out to determine the home’s value. Once this step has been discussed and finalized, any contingencies will be removed and you will then move forward and schedule to sign escrow documents. After this step, the buyer’s funds will be sent to the escrow company. Following the signing of escrow and title docs, the escrow deed will be recorded and the title of the home will be officially transferred to the buyer. Congrats on selling your home in Lake Tahoe!