Please read through this email and all of the attachments very thoroughly.  There are multiple attachments to help you build your entire Listing experience and systems. 

 

Required documents for seller signatures:

Exclusive Listing Agreement

Seller Property Disclosure  (if property is a condo, there is a specific Condo disclosure)

Community Association Disclosure (if there is a HOA)

Protect Yourself When Selling Pamphlet 

Lead Based Paint Exhibit (if 1978 or older)

Required Office Docs (MSA and Wire Fraud, Sewer/Septic letter)

Pull copy of Warranty Deed from public records 

 

As agent we must go over the following thoroughly with our clients during the listing presentation and before the listing actually goes live in GAMLS/FMLS: 

 

Go over all of the listing paperwork in detail. I have attached the 2020 required documents that the seller needs to sign.  Clients must understand the listing agreement and how much commission they are agreeing to pay us.  Make sure that anyone on the title will be present for the listing presentation, as well as any other decision makers.  

 

Explain to the seller that the Seller property disclosure answers should be to the best of their knowledge and that all must be completed – do not fill this form out for them under any circumstances.

 

Explain the Payment of Community Association Fees Disclosure (if applicable)  and that they must disclose any/all fees that the HOA collects.  Are they current on all HOA dues?  The seller must disclose all other fees charged by HOA to the buyer on this disclosure.  If they do not properly disclose the fees, the seller will be responsible for paying them at closing. 

 

Explain that the seller will be responsible for paying for the HOA closing letter.  This fee for the closing letter is paid prior to closing by the seller.  The closing attorney will contact the seller directly to obtain payment.   All HOA closing letters must be obtained by the closing attorney, the seller cannot order them.  

 

Work through the Net to Seller worksheet (they will need to have their verbal payoff figure or their monthly statement with their principal balance)

 

 

Explanation of refund on their escrow account - they can call the mortgage company to inquire about their balance.

 

Explain how showings will work and how feedback from showings will occur (put all valuables up, all weapons and pets)

Caution them on letting anyone in the home who just shows up without an agent - all showings should be scheduled first with you for safety purposes.  The lockbox will be placed on the door.  The box has set times of access, which means no one can access their home during non business hours established by you.  

 

Explain how Open Houses will work - how many, what days, what times, will snacks/refreshments be served? 

 

Explain how offers will come in and how different loan contingencies could affect them:  FHA (appraisal repairs), Conventional, VA, USDA and explain Cash Exhibit and how it could convert to a loan

 

Thorough explanation of Due Diligence and how a buyer can walk away during that time period, but that the seller does not have the same right to do so.  

 

Discuss seller paid closing costs and that in many cases buyers are asking the seller to contribute a portion of their closing costs.  How would this affect their net proceeds?

 

Working through negotiations verbally, don’t over communicate or under communicate.  Remember, if it is not in writing it doesn't count.  If you work something out verbally, immediately follow up with a signed document. 

 

Explain that the buyer may want additional walk through times during due diligence and then a final walk through before closing.  They will need to grant the buyer access to the property. 

 

If FHA requires septic inspection, that would need to be addressed during due diligence

Explain Inspection process and the Amendment to Address Concerns expectations.  Could repair items or could offer additional closing costs/reduction of sales price?  Using licensed contractors vs. handyman

 

 

Explain Appraisal process and what happens if home doesn't appraise at sales price (advise that they shouldn’t be there for the appraisal).

 

Explain that once under contract the closing attorney will be sending out information sheets to be completed via email and that they need to complete them and email back to the attorney ASAP.  

 

Explain that they will need to be moved completely out of the property by closing date unless they have asked for Temporary Occupancy.


Explain by closing day that property should be left clean and clear of all debris/trash/personal items. 

 

Do they have a termite bond?  Is it transferable? If the contract states that it should be transferred, this should be done before closing day. 

 

Do they have a current home warranty active on the property?  If not, you may want to discuss the seller 2-10 Home Warranty Option for seller coverage during the listing period.  

https://www.2-10.com/brokers-agents/buyers-sellers/

 

Keep in mind that you will need to order a sign, buy a lockbox and schedule a photographer - so make sure that the GO LIVE listing date works with all of those timelines/schedules 

 

Once you have all of this information together from the client and they have signed all documentation, you will need to enter the listing into GAMLS/FMLS.  This can be done using the computer at the office that has the SWIFT program.  SWIFT will allow you to enter it once and it will show up in both GAMLS and FMLS.  You will still need to upload the pictures to both sites.  If you cannot make it into the office to enter into the SWIFT system, you would simply add the listing into FMLS and there is a DITTO option in GAMLS to add the listing. There are instructional videos on FMLS that will walk you through this process. 

You are required to enter the listing in both GAMLS and FMLS systems. 

 

All signed documents must be uploaded into Command Opportunities and sent to compliance for review and signed copies should be sent to the client.