A Seller's Transaction Timeline

One of the most overlooked details, when a homeowner decides to sell their home, is how quick or long it can take from beginning to end. Price, upgrades, staging, agents...these are all things that come to mind when a checklist needs to be made. And yes, those things are extremely important, I mean, who doesn't want to focus on squeezing the most amount of money out of their home?

However, it's good to have a strong sense of when you'll need to be completely out of your home to make sure, for one, you are in compliance with the contract, but also to know if you need to market your home according to your timeline.

A typical escrow is 30 days long. Meaning, 30 calendar days from the date of acceptance (the exact date you as the seller sign the buyer's offer). If the 30th day falls on a holiday, it will be the next business day. Why is that? Recording the title is the last item on the escrow checklist, and that will be done at the recorder's office, which is not open on federal holidays.

What about the pre-market timeline? That also can take 30 days (usually 14 days) depending on what needs to be done to the home. Are there going to be upgrades? Painting? Staging? Furniture removal? Photos/video? These are all things that need to be scheduled prior to getting the home market-ready.

Below is a rough timeline of a recent seller transaction (30-day buyer offer) and what important milestones you can expect along the way. For a further explanation on the contingencies in the contract, check out our recent BLOG HERE.

Pre-market (Week 1)

• Sign contract with the listing agent.
• Move any cluttered furniture into the garage or storage unit.
• Hire painters and cleaners.
• Hire a staging company if applicable.
• Agent schedules photos & video marketing crew.

Pre-marketing (Week 2)

• Complete upgrades to the property
• Complete staging process.
• Finish all photos and video marketing
• Review any changes in the market.
• Complete seller disclosures forms.

Live on Market (Week 3)

• Plenty of drive-bys and people stopping to call on your for-sale sign.
• Sat/Sun Open Houses.
• Keep the house as clean as possible.
• Meet with an agent every few days to discuss interest and offers, if any.

Now...because we have such a competitive seller's market, after one or two weeks, it's been pretty common to get a great offer. This won't always be the case! In general, when a home is on the market for 3 weeks or more, that's a great time to adjust or rethink the way you want to market the home to dig up more interest. Statistically, homes go stale after 14 to 21 days online. 

In Escrow (Week 4)

• Disclosures sent to the buyer.
• Earnest money sent to escrow.
• Home inspection.
• Termite inspection.
• Escrow package sent out.

In Escrow (Week 5)

• Appraisal inspection.
• Any further negotiations based on inspection findings.
• Inspection contingency removed.
• Complete escrow docs.
• Verify buyer loan is on track. 

In Escrow (Week 6)

• Any further negotiations based on appraisal results.
• Appraisal contingency removed.
• Loan approval.
• Loan contingency removed.
• Loan docs to the buyer.

In Escrow (Week 7)

• File audit on outstanding paperwork.
• Buyer final walk-through.
• Final loan docs sent to escrow.

In Escrow (Week 8)

• Loan funds.
• Title records.
• Transaction complete!

If you have any further questions on real estate transactions or are looking to buy or sell here in the San Diego market, feel free to reach out to us! We want to be your go-to real estate resource.