The Home Selling Process
with Long Island Real Estate Agent Ted Kritikos
A Guide to Selling a Home on Long Island
1. Begin Working with Ted
We'll first meet to discuss your property, along with your plans/goals for a sale. From there I will craft a Comparative Market Analysis (CMA) and marketing plan for your home to guide our pricing and marketing strategies.
2. Set the Stage
From applying a fresh coat of paint to rearranging furniture and commissioning professional photos, I will work with you to ensure the property is ready to make a strong, lasting impression on buyers, both online and in person.
3. Go Live
Your property listing goes live on the MLS, Compass.com, and sent across our 100+ partner sites for maximum exposure.
4. Spread the Word
We launch our custom marketing plan to reach our target buyer pool and highlight your home.
5. Make Connections
Through my team's marketing efforts, professional network, private home tours and open houses, we attract prospective buyers and build relationships.
6. Optimize the Strategy
Feedback from agents and buyers is aggregated and leveraged to optimize our marketing and listing strategies on an ongoing basis.
7. Communicate & Measure Success
You and I will establish the best method and cadence of communication for updates, performance metrics, and market info.
8. Accept the Right Offer
We will review offers together and select the deal that makes the most sense for your timeline and goals.
9. Negotiate the Details
The contract is negotiated and accepted, and the home appraisal, inspection and title search take place.
10. Final Walkthrough
Buyer performs a final walkthrough of the property to confirm no damage has occurred since the inspection report and that all major systems and appliances are in working order.
11. Closing
Final documents are signed, payment is exchanged, and you hand over the keys to the buyer as you begin your next chapter.
Key Terms
An appraisal is typically ordered by a lender during the home buying process to ensure that the home is worth the price being paid. This value can influence the amount of money a bank is willing to lend a buyer. A licensed appraiser will take into account factors like the home’s condition, size, location, and recent sale prices of comparable homes in the area to determine a homes appraised value.
The statement listing the buyer and seller costs and financial settlement which is issued approximately 3 days prior to closing.
A valuation report created by real estate professionals to estimate the current market value of a property. It involves analyzing recently sold, active, and expired listings of similar properties in the same area to provide sellers and buyers with a pricing benchmark and help them make informed decisions about listing or purchasing a property.
Contingencies in a real estate contract are conditions that must be met for the contract to proceed to closing. They protect the buyer from potential risks and allow them to back out of the deal without losing their earnest money deposit if certain conditions are not satisfied.
Money given to a buyer from a seller through escrow at closing.
The final walkthrough is the last inspection of a property that a buyer conducts before the closing of a real estate transaction. It’s typically done on or just before the day of closing. The purpose of the final walk-through is to ensure that the property is in the agreed-upon condition, to verify that any requested repairs or agreed-upon changes have been made, and to make sure that no new issues have arisen since the last inspection.
An expert conducts a formal review of the property to find visible issues that need to be repaired.