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FAQS FOR SELLERS

Selling a Home With Glass House

SHOWINGS & OPEN HOUSES

Learn what to expect and how to prepare for showing your home to potential buyers. 
How will I know when someone wants to tour my home?

At Glass House, we use a tool called ShowingTime to notify you of showings. No third party software is required but you can download their mobile app if you want to stay up to date on showings and activity.

When agents want to show your home to their clients, you will receive a text alert that will allow you to approve or decline the showing request. Generally, you can expect showings to occur between 10 AM and 8 PM, with a higher volume in the afternoons, evenings, and weekends. We know life happens but we can't stress enough how important it is to accommodate showings when possible. We will also get the showing alerts and follow up with the agents for feedback.

If your home is vacant, we will default to approve all showing requests. You will receive a courtesy alert so you can monitor activity.

What happens after an agent/buyer sees my home?

Agents, with their clients, will enter your home via the Lockbox which allows us to see when an agent visited and how long they were in the home. We will compile feedback from these agents throughout the week and send you a summary of feedback via email on Mondays. If anyone indicates serious interest, or if we get an offer, we’ll let you know ASAP.

You can rest assured the moment an agent or buyer expresses any interest in your home, Khalil will immediately follow up.

What should I do to prepare for showings & open houses?
Please plan to be away during all showings and any open houses. While this may feel inconvenient, your absence allows visitors to imagine themselves living in the home and feel free to discuss your home without fear of offending you. Rest assured we will follow up with all agents and give you a full weekly report on Mondays.

 

The below checklist is a general guide to help you prepare for the Open House and Showings:

 

1. Clean, Clean, Clean: Your home should be in pristine condition when you have the open house or anytime a potential buyer walks in the door.
 
2. Remove personal items: Buyers want to visualize the space as THEIR home; removing family photos and memorabilia will help to make that possible.
 
3. Remove or lock away medications.
 
4. Remove or lock away valuables such as cash, checks, credit cards, jewelry, passports, etc.
 
5. Remove pets when possible. If not, try to confine pets to less-trafficked space in the home.
 
6. Make sure window coverings, including blinds, are left open to allow natural light into your home.
 
7. Turn on lights: In dark corners of homes, a simple lamp or overhead light can give the impression of a brighter, light-filled room.
 
8. Kitchen: Wipe down counters, put away dishes either in cabinets or dishwasher, and remove any cooking odors.
 
9. Bedrooms: Make sure beds are made and dirty clothes are in a bin.
 
10. Bathrooms: Close toilet seats, tuck away personal grooming items like toothbrushes and razors, and wipe down counters.
 
11. Listen to feedback: If we hear the consistent feedback from buyers, we may want to take their feedback into consideration.

 

MY HOME IS "UNDER CONTRACT", WHAT COMES NEXT?

Congrats on accepting an offer! Please change the rider on your home sign to "UNDER CONTRACT".

I want to sell now but may need more time in my home after closing, how does that work?

A post settlement occupancy agreement allows a seller to continue to live in his home after settlement, under an arrangement where the seller is essentially renting the home back from the new purchaser.

This type of arrangement can be a life-saver for a seller who is purchasing another home but won’t be able to close on that purchase until a few days or weeks after he sells his current home.

What do "contingencies' mean?
Here's a breakdown of the most common contingencies:
  • Inspection contingency: The inspection contingency allows the purchaser an opportunity to have a home inspection and request repairs or credits. The most typical inspection is a “general home inspection,” but could also include radon, well, septic, pool, chimney, etc. If blemishes appear on the inspection report (very common), this contingency gives the buyer has the opportunity to negotiate repair(s) or negotiate a credit. If no agreement is reached, the buyer has the option to void the contract within the inspection contingency period. Generally, 7-10 days is sufficient to complete inspections. 
  • Appraisal contingency: Ordered by the buyer's lender, the appraisal contingency states that the home must appraise for at least the sales price. If the appraisal comes back for less than the sales price, the appraisal contingency allows the buyer the right to request a lower sales price. If the seller declines, this contingency permits the buyer to void the contract. Generally appraisals take at least 21 days.
  • Finance contingencyThe finance contingency state the deal is contingent on the buyer being able to secure financing, which is a loan commitment from a lender (not the actual funds). Generally, finance contingencies are 7-21 days; the shorter the time, the stronger the offer.
How do I prepare for inspections and appraisal?

Our team will coordinate inspections, you should not be present during inspection or appraisal appointments. 

Home inspections can take from 1 to 2 hours depending on the size of the home. Appraisal appointments are typically maximum 30 min. Our Transaction Manager will be in touch regarding these important dates/times and you will also receive a calendar invite. 

We recommend your home be in "showing condition" during the inspection appointment.

 

What phase would be a good indication that I can start packing to move?

Typically, when a contract is signed to purchase, we wish that would be the end of it. In selling a home, an agreement of sale is often negotiated three times. The first is the purchase price, settlement date and terms. The second time is often the inspection resulting in a report about the condition of your home. Agreeing on what you as a seller will fix as a result of this report is negotiable. The last is the appraisal contingency which will most likely happen within 21 days of going under contract.  Most mortgages require that your property appraise for the sales price. If not, you may need to negotiate a new price where both parties come together in a meeting of the minds.  Once all those contingencies have been satisfied would be a good indication that you are good to plan your move. 

Should I remove the lockbox?

Your house will go from showing as “Active” to “Contingent/Pending” status in the MLS and on real estate websites. Showings will not be scheduled given we are under contract. The lockbox will stay on the door for easy access for appraisals, inspections, and through settlement. We will remove it after closing.

Wire Fraud & Internet Security

We suggest, immediately prior to wiring any funds, you call the intended recipient to verify the wiring instructions.  Only use a verified phone number to make this call.  

Do not trust contact information in unverified emails.  The hackers will recreate legitimate-looking signature blocks with their own telephone number.  In addition, fraudsters will include links to fake websites to further convince you of their legitimacy.  

Never click on any links in an unverified email.  In addition to leading you to fake websites, these links contain viruses and other malicious spyware that can make your computer and your transaction vulnerable to attack.

Never conduct business over unsecured wifi.

Trust your instincts.  If an email or telephone call seems suspicious or "off" refrain from taking any action until the communication has been independently verified as legitimate.  

We will never ask for your social security information.  We do not need it.  The title company will.  

 

What is a final walk through generally for and typically done?

For those who are unacquainted, the final walk through before closing on a house is an opportunity for a home buyer to inspect a home before completing the purchase. The final walkthrough ideally is completed after the seller has moved out and allows the buyer to confirm that agreed-upon repairs have been made and there are no new issues but this may not be the case on many occasions and the seller may still be in the process of moving. 

Essentially, the final walkthrough allows home buyers to do one last check. This is to make sure that the home they’re purchasing is in the same condition it was when they agreed to buy it, plus any additional repairs stipulated in the purchase agreement.

Do we get to see the appraisal report?

One of the most common questions homeowners ask is “when can I get a copy of the appraisal?” or “Can you tell me how much it appraised for?” 

Home sellers aren't entitled to copies of the appraisals mortgage lenders conduct on behalf of their borrowers. If a home seller wants a copy of an appraisal, she should consider asking for a copy from the buyer. However, a copy may come in handy if the appraisal comes in low and price negotiations must ensue.

Do I sign at the same time as the buyers?

The seller doesn’t have to sign as much paperwork as the buyer therefore  there’s no reason for buyers and sellers to be in the same room for closing. They don’t even need to sign the paperwork on the same day! Sellers can pre sign days before and buyers can sign on the day of  closings, whether at a title company or attorney’s office.

How do I determine what my closing cost will be?

The average closing costs for a seller total roughly 8% to 10% of the sale price of the home.

Seller closing costs are a combination of taxes, fees, prepayments and services that vary depending on your location. Closing costs can differ due to variations in local tax laws, lender costs, and title and settlement company fees. In some cities, you might pay thousands just to transfer the title of the home to the new owner, while in other areas it’s free. It’s important to understand your regional burden, as well as who usually pays closing costs in the transaction and when they’re due.

Use the calculator below as a useful tool to give you an estimate of your closing costs based on your specific property.

https://closeit.federaltitle.com/

Do I have to have the house professionally cleaned?

Per the contract the Seller will deliver Property free and clear of trash and debris, broom clean and in substantially the same physical condition to be determined as of the date of offer or home inspection. However, we highly suggest you go the extra step and make sure the home is turned over in the condition that you would want your home turned over to you if you were the buyer.

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