Selling your home – The procedure and stages
The very first and most important part of selling your home- setting the listing price.
As a seasoned real estate agent with a proven track record of successful sales, I understand that setting the right price for your home is paramount to achieving a successful and timely sale. Pricing your home correctly is a delicate balance that requires comprehensive market analysis, a keen understanding of local trends, and an in-depth assessment of your property's unique features. By entrusting me as your Realtor, you can rest assured that I possess the expertise and dedication needed to determine the optimal price for your home.
My qualifications as a real estate professional are specifically tailored to address the intricacies of the market. I have access to extensive market data and advanced analytical tools, enabling me to accurately assess the current demand and supply dynamics. Moreover, my experience in negotiating and my understanding of buyer behavior empowers me to strategically position your property to attract the right buyers while maximizing its value. Rest assured, I will work tirelessly to ensure that your home is priced competitively to garner the attention it deserves in the market and ultimately lead to a successful and rewarding sale.
We are Experts In Social Media and Traditional Media Real Estate Marketing. Coldwell Banker® has one of the most visited real estate websites in Mexico. Providing exposure of your property to a large and engaged nationwide audience. See how we do it, click here.
coldwellbanker.com.mx received more than 6 million visits in 2021 with each user spending on average 4 minutes per visit.
A New Listing
When we take a listing, we want to be ready to immediately respond to incoming offers. Running around trying to find the necessary documents once we have a pending offer is not how we do it and the more quickly we can respond to a potential buyer, the easier it will be for us to make the sale. For this reason, we request the necessary documents at the beginning in order to avoid such a situation. Below is a list of documents that we need to complete the file along with an explanation on why such document is important. Those documents indicated with an asterisk are requisites for all listings that will appear in the AMPI MLS and the others are general requirements.
Signed Listing Agreement* – In order for the listing to be submitted to the MLS Multiple Listing Service, a signed listing agreement is required by the legal owners of the property.
Escritura* (Deed of Title) – We need to know that you indeed are the owner (either fee simple or in fideicomiso) of the property. The MLS also requires that we have this to list the property.
Government Issued Photo ID – Again, this shows that you are the owner of the property and it will be required in the event of a sale of the property to be presented to the Notary who is doing the closing as well as the escrow company that will be holding the funds.
Current Property Tax Bill* and if possible, its corresponding payment – In calculating some of the taxes, it is important to know the current tax value of the property. The Notary uses this to calculate estimates on capital gains tax payments as well as Buyer's closing costs. MLS also requires this to list the property.
Inventory/Exclusion List – It is the Seller's choice if you want to provide a list of inventory or a list of exclusions but we do not like to show a property without knowing what is or is not included as that is a common question from the clients. Property Disclosure Statement – Your agent will provide this to you to complete as a disclosure on the property.
Capital Gains Tax Estimate – your agent will provide this to you from a Public Notary qualified to make that calculation at the time you list the property and use the documents provided by you.
Administration Letter in the Case of Condominium – Part of the documents we require in the case of listing a condominium are the condominium documents. We will provide you with a letter to the administrator of your condominium requesting those documents. These are ALL documents that you as an owner are entitled to have and Buyers will use to determine the condition of the HOA. Don't worry, we will handle all of this for you
During the Listing
During the time your property is on the market, the property will appear in print and web-based advertising as well as on social network sites like Twitter and Facebook and be featured in open-houses and other marketing. It will be featured on the Coldwell Banker website and promoted to real estate agents all over the world through the Flex MLS System and the Coldwell Banker global network.
The Closing Process
Congratulations! We have received an offer on your home! We will review the offer with you and answer any questions you may have. We also have an attorney who is available and standing by to help if needed. We will provide you with recommendations on how and if to respond with a counteroffer or if it is better to accept the offer as written. That said, you, the client, will have the last word. We will prepare the response as per your instructions and review the same with you so that it is correct. This may go back and forth a few times or not at all, but we are here to guide you through the procedure. This can all be done via fax or e-mail with original signatures required once we have the final accepted offer.
You and the Buyer have reached an agreement – what great news! In general cases, there will be a term of due diligence so that the Buyer can review the documents pertaining to the property, conduct (at their expense) the necessary inspections, and other contingency items that may or may not apply.
Escrow is open and contingencies are removed! What does this mean? This generally means that the Buyer has deposited the required 10% good faith deposit into the escrow account and is satisfied with the due diligence. This means we are going forward to closing. We work closely with the Notary to coordinate all closing aspects of the transaction.
Do I need to be present for the closing? As the Seller you will need to be present at the closing or grant a power of attorney to someone that you trust to sign documents at closing on your behalf. We, as your real estate agent cannot act as your representative in this aspect as it would be a conflict of interest. If you cannot be present, the power of attorney can be prepared for you to sign.
If you are in the United States, you can have the power of attorney notarized by a local notary and then "apostilled" by the Secretary of State of the state in which you sign. If you Google "apostille + secretary of state + (the name of your state)", information will come up on how to get this done. It is very simple.
If you are Canadian, you will have to have the power of attorney signed in the Mexican Consulate nearest you and each consulate has its own format and rules. This link shows the information on the consulates in Canada.
What else do I need to do for closing?? You will need to prepare to liquidate your staff or employees if you have them. Your agent will be able to guide you through this. You will need to make sure that all bills associated with the property are brought current. Now all you need to do now is relax and wait for the notary to process the paperwork for the Buyer. You will need to provide wire instructions to your agent so that we know where to send your proceeds and there may be some incidental costs to cancel your fideicomiso trust or bring yourself current on taxes and fees. We will provide you with a proration statement prior to closing to show what expenses you will need to pay at closing, prepaid costs that will be reimbursed to you at closing, taxes due the government, if any, and finally the net proceeds that you will receive on the closing date.
The closing date is here! Finally! The closing date is here. The Notary office will set the time of closing according to the schedules of both Buyer and Seller and based on the Notary office workload and availability. Generally, closings take place after 10 am and before 5 pm. Up to three days prior to going to the Notary, the Buyer will usually do a walk-through of the property just to make sure everything is in place. As a Seller, once you leave your property after the walkthrough, you will not return.
At the Notary office, you will review the paperwork with the Notary and closing coordinator to make sure everything is in order. Aside from the deed transferring title to the Buyer, you will be signing disbursement instructions to the escrow agent which instructs the escrow agent where to send your funds. It is important that you provide COMPLETE wire instructions to us prior to the closing so that there is no delay in you receiving your money. Wires sent prior to 1:00 p.m. will be transferred that day and may be received in your account on the same day.
Once documents are signed the Notary will send the escrow agent the disbursement and copies of the deed and funds will be released. You provide the keys to the Buyer and the closing is complete!
Post-Closing Follow Up
As a Seller, your job is done. Be sure and keep a copy of the transfer deed and tax payment statement for your own records (you will be given this at closing). Once again, congratulations!